It has a fantastic environment, culture, and breathtaking views with stunning views and culture Spain is definitely an attractive choice for a place to live and retirement. Many residents of the UK have Spanish homes have plans for a possible retirement in the mild environment of Spain. But, following the Brexit departure on 01 January 2021 The Legal Regime for Foreigners currently is applicable to British citizens. This limits the number of days they can stay in Spain. In order to reside in Spain or retire in Spain, British citizens may apply for a variety of visas. One is the non-lucrative resident visa.
In this guide we will explain what a visa that is not a lucrative one is and how it works, and how a British citizen can apply for non-lucrative status and the way it compares to the Golden Visa. We also discuss the benefits of having one, and why it could be your ticket to retiring in Spain.
What is a non-lucrative Visa, and who is it appropriate for?
Spain’s non-lucrative visa allows non-EU citizens to live in Spain provided they prove that they have enough money to sustain themselves and their family. Non-lucrative visas can be obtained by citizens of third-country countries who are planning to stay in Spain for more than 90 days and don’t intend working in Spain. This visa is perfect for foreign nationals planning to retire in Spain or want to reside in Spain for long durations, for instance, during the warm summer months.
What is the difference between a non-lucrative visa and a Golden Visa?
The non-lucrative type of visa differs by a few points from the Golden Visa in that a Golden Visa requires one of many types of investments in Spain one of the most well-known of which is to purchase a house valued at over EUR500,000. Other investment options revolve around commercial investment.
The non-lucrative travel visa for Spain is an ideal alternative for British retired people or non-working residents, as the UK is not a member of the EU and does not require any type of investment.
How long is the non-lucrative Visa for Spain in effect, and how can you renew the validity of your visa?
Once you’ve secured your non-lucrative visa, it is valid for a period of one year. After which you can renew it for a further duration of two years. thereafter your visa can be renewed for an additional two years. After five years of legal residency , you can apply for permanent residency. The renewal of a non-lucrative Visa must be submitted in Spain.
Learn more about renewing your non-lucrative passport below.
Non-lucrative visas require the holder to stay for 183 days in Spain each year to renew at the time of every expiration.
After five years of residency during your legal residence in Spain you have the possibility to apply for a long-term residence permit. After you have achieved permanent residency after 10 years of residency you can apply to be a Spanish citizen. The process of obtaining Spanish citizenship means that you must give up your UK citizenship.
What are the benefits of obtaining a Spanish Visa that is not lucrative?
Obtaining a non lucrative visa Spain as a British citizen provides the following advantages:
There is no requirement to purchase Spanish property
Contrary to the Golden Visa, there is no investment in the Spanish economy needed to qualify for this visa.
Request a family or joint visa
Your spouse can be included as well as other family members as long as they are family members who are eligible to be added on your visa. The children of your dependents can go to schools or pursue studies while living on a non-lucrative Visa.
You can progress to a visa for work If desired
Non-lucrative visas have the ability to be changed to a working visa following success in renewing the visa following the first year.
Work remotely for a firm that is located outside of Spain
A non-lucrative visa allows employees to work remotely for an organization outside of Spain.
Potential to invest
There is a chance to buy a property that you can be used for rental purposes.
Free movement
Non-lucrative visa holders are able to travel without restriction within their Schengen Area, which is an area that is comprised of 26 European countries that have officially removed all border control such as passports, at their mutual borders.
Reside in Spain without the need to work on Spanish territory
Are you planning on retiring in Spain? A non-lucrative visa is ideal If you’re looking to retire and retire in Spain because there is no requirement to work in Spain.
What documents must be submitted in order to obtain a non-lucrative visa as a British citizen?
British citizens who want to apply for a non-lucrative residence permit must meet the following requirements and be able to present the following documents:
Passport with at least one-year validity prior to its expiration date.
Certificate of no criminal record both in Spain and the UK and Spain Valid for three months.
Be sure to have proof of adequate funds. You need to be accredited with sufficient financial resources to cover the expenses of your stay for one year. For 2021-based support on a monthly basis, you need to be able to prove your account balance is EUR27,115.20 on your bank account or receive a minimum monthly income of EUR2,259.60. If you have a dependent on your account, you must provide a further EUR6,778,80 per year or EUR564.90 per month.
Should not already be living in a non-legal (irregular) scenario in Spain.
Sufficient healthcare insurance.
Medical certificate that confirms you do not suffer from any disease that can have grave public health implications in accordance with the International Health Regulations of 2005.
The application process for a non-lucrative visa within the UK
Where to apply
You must apply for a non-lucrative travel visa prior to you leave to Spain The application has to be made in the nearest Consulate General for Spain in the UK.
An application for a non-lucrative Visa must be made by the person who wishes to apply for the visa.
A parent, guardian or a duly authorized representative (in extreme situations) may apply on behalf of a minor.
What should you expect?
It is necessary to present the documents listed above as well as a formal interview will be held in the consulate office which will be used to make a final decision regarding the visa.
The consulate will then have one month to either accept or refuse your application. If your application is approved then you have one month from the confirmation of your approval to pick up your visa from the consulate. You will also be given an NIE (Numero de identidad de extranjero) along with your passport.
Arriving in Spain
You must reach Spain within 3 months of the announcement of the grant of your visa.
You have one month from the date you entered to go to the Foreigners’ Office to apply for your TIE that is a foreigner’s identity card or a resident card. In the first month of arrival you are required to register at the town hall that is corresponding to the municipality where you are residing in Spain.
How do you renew your non-lucrative visa?
To renew your non-lucrative Visa, you will need to be able to provide the following documentation:
Application Form EX01 (two copies).
Your passport (valid for at minimum one year).
Copies of all pages of your passport.
Your current Tarjeta de Identidad de Extranjeros or TIE.
Fee Form 799-052 (paid and stamped).
Registration of your address for Spain ( padron ).
Health insurance that is in line with the regulations for the Immigration Office.
Proof of an adequate and reliable income that is available for the next two years (monthly at more than four times that of the current fiscal year’s IPREM for the principal applicant, plus one IPREM for every family member).
For documents that are not prepared in Spanish you must use an officially recognised translator that is certified by Spain’s Ministry of Foreign Affairs.
What does the non-lucrative Visa differ from the Golden Visa?
An Golden Visa is another option for obtaining residency to Spain in the case of British citizens. It’s an excellent option for entrepreneurs and investors who want to make significant investments in Spain and include setting up an enterprise as well as investing into existing businesses in Spain. It is also ideal for British citizens wishing to increase their portfolio of property in Spain or to purchase large properties in Spain.
What is required to obtain the Golden Visa?
To qualify for a Golden Visa, you need an investment of equal or more than EUR500,000 euros per applicant. This should be devoid of any other encumbrances like a mortgage. Additionally, you must also be able to prove that the expenses of running a property at this price and the other living expenses can be covered.
Alternative types of investment to earn Golden Visas include: Golden Visa include:
One million euros worth of company shares or stocks of Spanish capital companies engaged in actual business activities
One million euros in investment funds, closed-end investment funds or venture capital funds created by Spain in one million euros of bank deposits in Spanish banking institutions.
Could this be suitable choice for you?
This Golden Visa may be an ideal choice for you in the event that you own a property in Spain that is valued at the EUR500,000 threshold of investment which is unencumbered by mortgages or any other financial liens.
It is also possible to work in Spain. Golden Visa also brings the benefit of providing the possibility of working in Spain as it includes the possibility of obtaining work authorization.
How To Get a Non-lucrative Visa for Spain as a British Citizen
