The benefits of applying for a Non-Lucrative Visa

The Non-Lucrative Visa in Spain is a visa that was created to grant Spanish nationality to non-EU citizens who can prove that they have sufficient financial means to support themselves and their families.

This permit grants initial residence for one year to its holders. Renewals will be made every two years until they reach 5 years, at which point nationality can be applied for through the usual channels.

It can be said that the only requirement to obtain the Non-Lucrative Visa is to demonstrate that one has sufficient economic means to stay in Spain for the duration of the visa, without, however, carrying out any economic activity.

Therefore, it is an easy visa to obtain which, on the other hand, prevents you from carrying out any economic activity within Spanish territory. That is why it is not lucrative…

It is a resource widely used by elderly people who decide to retire in Spain or for those profiles of people who want to spend “a sabbatical year” in Spain, but who after a year wish to resume their economic activity. This could lead them to have to modify their work permit after the initial year granted by the Non-Lucrative Visa.

What are the benefits of the Non-Lucrativa Visa?

For people from non-EU countries with enough money to settle in Spain for one year, and the following 5 years if they renew under the same conditions, this solution is one of the most valued options for the following reasons:

The applicant’s spouse and children will immediately and directly enter the nationality granting programme.

This situation is based on family reunification criteria, which only requires the applicant’s economic basis to be able to support them without carrying out any economic activity.

Through a joint application, you can easily obtain residence for your spouse and children.

Therefore, the application and the granting are simultaneous. And it will last for one year, with a two-year extension and up to 5 years in total. At that point, nationality can be applied for through the proper channels.

On the other hand, in addition to all the rights granted by nationality to the applicant, there is the possibility of making investments in the country. It is not possible to work or set up a company, but it is possible to invest money in company shares, real estate, etc., in order to obtain income.

This does not in any way mean that investment is necessary. In fact, it is only necessary in the case of the Golden Visa.

On the other hand, the applicant’s children will be able to carry out paid internships in companies and, therefore, get paid for it without being in breach of the requirements of the Non-Lucariva-Visa.

In addition, another of the great benefits of this residence permit is that it grants the possibility to travel freely within the EU countries. This means that you can travel throughout the Schengen area without any problem.

The last requirement is to prove that you have private or public insurance in Spain for at least one year.

How do you prove that you have sufficient financial means?

The IPREM will be the indicator that reveals whether the applicant has the minimum amount to be eligible for benefits in a country.

More specifically, you must have at least 400% of the IPREM per year in your bank account.

In addition, to prove that you have these amounts, you will need to provide a statement from the bank where you have the money, which can be in different banks. Therefore, you will need to provide this documents:

• National visa form.
• Form Ex-01.
• Insurance in a Spanish Company and not an international one; and private.
• Bank certificate, demonstrating the possession of over €25,000 per year.
• Photos, 3×4 cm with white background.
• Original Passport.
• A medical certificate, demonstrating that you do not suffer from any of the recognized diseases that would prevent your entry into the country.
• Criminal records, properly translated and legalized. More here on how to get this certificate.

Goodwin Flowers

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