A number of our clients have graciously agreed to share their experiences regarding their immigration to Spain under the Non-Lucrative visa and residence permit. Below, you will find a testimonial from a British family who successfully obtained their residence permit in the passive category with assistance from our team:
“We are a family of four from England, and our remote work allows us the flexibility to live anywhere. This flexibility inspired us to start anew in Spain, attracted by the affordable cost of living and delightful weather. Initially, we had concerns about our children’s ability to adapt to a new environment. However, after thorough research, we discovered several English-speaking schools in Spain, a relief knowing that our children could continue their education in English while learning Spanish. We decided to rent an apartment for our first year, giving us time to explore property purchasing options. We reached out to VIP Serveis for guidance on various questions such as appropriate medical insurance coverage, school enrolment for our children, and navigating administrative processes. We were thoroughly impressed with their prompt responses, diligent work, and commitment. Their support was instrumental in helping us make well-informed decisions. We’ve found the Spanish people to be incredibly welcoming and friendly, making our transition here even more enjoyable. We are delighted with our new life in Spain.”
What is the Non-Lucrative visa in Spain?
The Non-Lucrative visa in Spain is a great opportunity for individuals who wish to establish themselves in Spain for at least 1 year without carrying professional activities. The visa gives the right to obtain a residence permit that is designed to financially independent individuals or retirees and their non-EU families who perceive regular passive income outside of Spain. This permit allows individuals to live in Spain, enjoying its lifestyle and benefits, without the obligation to undertake any professional or employment activities.
Validity of the residence permit
The initial residence permit (or visa) is typically granted for 12 months. It can be renewed twice and each renewal is generally valid for 2 years. After legally residing in Spain for a total of 5 consecutive years, individuals become eligible to apply for permanent residency, which is valid for a 10-year period and offers greater stability and long-term benefits.
Additionally, after 10 years of legal residence in Spain (or as few as 2 years for citizens of certain Latin American countries, Andorra, the Philippines, or Equatorial Guinea), applicants may become eligible to apply for Spanish citizenship.
What are the main requirements for a Non-Lucrative visa and residence permit in Spain?
The Non-Lucrative visa and residence permit in Spain, as outlined by Spanish immigration laws, necessitate the following key requirements:
- Sufficient Financial Means: Applicants must justify sufficient financial means to support themselves and cover all living expenses in Spain without engaging in any professional activities in the country. The main applicant will need to have a minimum income equivalent to 400% of the annual Spanish Public Multiple Effects Income Indicator (IPREM), which amounts to approximately €28,000. An additional 100% of the IPREM, roughly €7,000, is required for each family member.
- Bank Account: Open a bank account in Spain and ensure it holds the required funds to cover your living expenses, as part of the financial requirements for residency.
- Accommodation: Possess a regular and stable accommodation in Spain for the duration of the intended stay, which can be evidenced by a lease agreement or a title deed.
- Medical Insurance: Hold a private medical insurance in Spain, valid for a minimum of 12 months and provided by a company authorized to operate in the country.
Discover How You Can Obtain a Residence Permit in Spain with VIP Serveis
Considering starting a new chapter in Spain? Let us help you make the transition. Whether you need assistance with obtaining a Non-Lucrative visa, finding suitable accommodation, subscribing to medical insurance, or opening a bank account, our expert team at VIP Serveis is here to support you with all your immigration needs.
For more information on Spanish immigration or to book a consultation with us, please contact us at +34 683 238 499, available on WhatsApp and Telegram.