What is the spanish retirement visa ( non- Lucrativo ) ?
The non-lucrativo living arrangement residency is one of the various kinds of Spanish visas conceded to non-EU residents who have enough financial intends to remain in the Spain without working. It also is valid for the candidate’s family members, meaning that your dependent family members can accompany including your young or dependent children and parents.
One of its principle attributes is that it doesn’t enable you to conduct any sort of financial or expert action in Spain. It has a non-financial benefit nature.
What are the benefits of this visa?
We should now investigate which are the principle focal points and benefits of the non lucrativo in Spain:
Your family can accompany you through a joint application, you will have the option to get the the visa for your entire family.
Unlike other visa, for example, family reunification, which expects you to have lived in the nation for one year, with the non-rewarding that isn’t required. You will have the option to get them the visa simultaneously as you get yours.
You should simply demonstrate that you have sufficient funds to support them too.
The first visa is granted for 1 year and is renewed twice for two years each time and then you will be able to apply for a permanent residency. Spanish citizenship can be applied after having 5 years of permanent residency.
Citizens of Latin American or from the Philipines will just need 2 years to get their citizenship.
Probability to work abroad
Regardless of the fact that you can’t work in Spain, you will be permitted to work online or in different countries.
So it’s an excellent options for people who have an established business online or in their own country or adequate investments
Travel all around Europe
You can travel the Schengen region with no issue and just your residency card
What is the financials that you have to provide to be eligible for this visa?
You should demonstrate that you have 400% of the IPREM yearly on your ledger. During the current year 2020, the IPREM is 537,84€ for a month. The primary candidate for this visa must show that he has 25.816,12€ income or saving per year and for each member of the family an additional 6.454,03€.
Proof of income
This can demonstrated in many forms including a monthly income from investments, shares, rents, retirement, bank savings even credit cards , property value and …… can be presented in combination to satisfy the authorities. Please note that all need to be under the name of the main applicant. It’s also possible but not likely that The immigration may ask for you to transfer the required savings to Spanish account
Compulsory private health insurance
Recognised private health insurance is compulsory for all members of the family
Visa application
This visa can only be applied from outside Spain from your home country or a country of your residence. The processing time can be between 1-3 months.
Golden Visa Spain:
Non-EU citizens who wish to reside in Spain on residence visa permits can get Golden Visa Spain after buying property in Spain. As a property investor, you must meet the criteria set by Spanish immigration laws to get qualified for this Visa. Golden Visa Spain offers property investors and their dependents permanent residency in Spain in exchange for investing in Spain’s property.
Social Integration(“Arraigo Social”)
Any Non-EU citizen who is living in Spain and wants to regularize his stay can apply for it. You will need the following things:
- Proof of stay in Spain for at least 3 years
- Proficiency in Speaking Spanish
- Spanish society integration
- A job offer that is valid for 1 year (or 30 hours per week)
- Proof of having no valid residency
Upon approval of social integration application, you can attain temporary work residency which is valid for one year and can renew after 1 year.
