Non Lucrative Visa in Spain
Are you planning to move to Spain and get Non Lucrative residence Visa?
Let´s see step by step how you can obtain the Non Lucrative Residence Visa of Spain and how SkyBarcino Travel Agency can help you in this process.
Non Lucrative Visa Scheme In Spain
This visa allows you to reside in Spain more than 90 days without engaging in any type of lucrative activities such as working activities or employment. The process may take between 2 to 3 months from the day all documents are presented.
The procedures and conditions for issuing these visas are set out in Organic Law 4/2000 of January 11th and in its implementing regulation, approved by Royal Decree 557/2011 of April 20th.
Basically, non EU nationals who are financially very well off and wish to reside in Spain might apply for this visa. These people can earn income from a business outside of Spain, pension or online work or live off of cash savings. Your family members can also obtain the residence permit, proving that you can support all of them.
Who Can Apply for Non Lucrative Visa of Spain?
Having sufficient financial resources.
Means anyone who can demonstrate the ability of covering his/her expenses while staying in Spain for 1 year without working in the country (as mentioned above the person can not work in Spain with this type of visa)
You can prove stable monthly income or a certain amount of money on your bank account. showing your investment income, your rental property income, your online income, annuities or by showing that you have enough cash stashed away to cover your expenses for that year and you have kept a high enough average balance in your bank account during at least 12 months.
Please note that a salary is not considered a permanent income, nor is interest received from a bank or mutual fund. Remember, you must prove high permanent or regular income for at least one-year prior of application.
Keep in mind as well, one of the other requirements is to show that you have a place to live in Spain (hotels are not counted). There are two ways to do it: to buy a property in Spain or to sign a lease contract for not less than 1 year, means you rent a house for your staying.
How to renewal Non Lucrative visa in Spain?
This type of visa is a residence permit for one year, but after this year, the person can obtain two-year residence permit if he or she:
- Meets the same requirements as stated in the initial application, and
- Has not been out of Spain more than 6 months during the residency period.
What Are The Advantages/Disadvantages of Non Lucrative Visa in Spain?
- Right to enter, leave, stay and travel freely throughout the Schengen Territory (the holder of the residence non-lucrative has the right to remain in Spain for an unlimited period of time, plus in the rest of the Schengen area for three months within each period of six months).
- Stay in Spain for up to a year, then for renewal periods of two years
- Theoretically, after living in Spain for five consecutive years, apply for permanent residence.
- Access medical care through private insurance
- You avoid paying taxes and other expenses that entails residence for own account.
- From the beginning, the residence can be granted for the whole family
- Rent property
- Sign utility contracts
- Children born in Spain, have access to Spanish nationality, one year after birth.
- Enroll your children in school if they are under 18 (obligatory)
- You must stay in Spain more than 181 days in a year.
What Is Sufficient Economic Amount For Obtaining Non Lucrative Visa of Spain?
A monthly amount of 2,134 Euros for 2018 or its equivalent in a foreign currency to support yourself during the requested period of residence in Spain. (not less than 25 600 EUR per a year for one person.)
A monthly amount of 532.51 Euros for 2018 or its equivalent in a foreign currency for the support of your dependents during their requested period of residence in Spain. (6 500 EUR for each dependent.)
If you don`t want or cannot to show a monthly income, than you can just print your bank account statement, but make sure that the amount of money you have is double (not 25 600 EUR, but 52 200 EUR).
How SkyBarcino Can Help?
SkyBarcino offers vary services through Non Lucrative visa process:
- If you need to travel to Spain and become acquainted with the city in order to find best place to rent the apartment for your stay, you have come to the right place. SkyBarcino Travel Agency can arrange a fantastic trip for you to cover all of your requirements.
- We can introduce you well experienced lawyers for your Non Lucrative Visa process. During your trip you can visit them and analyse your plan with their assistance.
- We are always here to help you finding and renting your desired apartment.
- If you need to register your children in school we could assist you as well.
- SkyBarcino can also guide you to buy proper insurance.
- You can always have a Spain translator for doing your process. We try to hire the Spanish translator in your language.
SkyBarcino will always be delighted to help and guide you within the Non Lucrative Residence Visa process. The only thing you need to do is to contact us and ask your questions.