Are you thinking of Retiring to Spain? A Non-Lucrative Residency Visa could be your best Option

Spain has for countless decades been the first choice for many British nationals wishing to relocate overseas in their retirement years. In many cases, Spain has been their holiday destination for some time, drawn by the climate, culture and cuisine. Spain’s affordable lifestyle makes it all the more attractive to consider, especially following the rise in the cost of living in the UK. The most suitable visa for retirees to apply in light of the changes to the Golden Visa is a Non-Lucrative Residency Visa which is aimed at foreign nationals who have retired or applicants who do not intend to work in Spain.

There is the additional benefit of a Non-lucrative visa of allowing free travel throughout the 26 countries within the Schengen Area where all border control including passports, at their mutual borders, has been abolished.

The Non-Lucrative Visa is initially for one year with the opportunity to renew for periods of two years, it is regulated by Spain's Immigration Law (Ley de Extranjería). There are requirements that must be fulfilled and documents that must be presented with the application to enable the visa to be granted:

• A valid passport.
• You must be able to demonstrate payment of the visa application fee.
• Completion of a national visa form and EX01 form.
• Proof that you do not have a criminal record.
• You must have comprehensive private health insurance with a company authorised to operate in Spain.
• You must also provide a medical certificate, issued at least three months before submission of your visa application. The certificate must comply with the International Health Regulations.
• Form 720-052 must be completed together with payment of the application fee to permit temporary authorisation for residence.
• You must have evidence that you have sufficient funds to support yourself for one year. €28,800 per annum is considered appropriate, which could derive from investments or a pension. 

All documentation that is in English will require translation by an approved translator and may require notarisation or an Apostille under The Hague Convention.

After five years of residency under the non-lucrative visa, retirees can apply for permanent residency, which grants broader rights, including work authorisation if desired. Following ten years, naturalisation as a Spanish citizen may be possible. It is possible to include spouses and dependent family members under the non-lucrative visa on the provision that they too do not undertake any work and the applicant can demonstrate that they have sufficient funds to support them. Once the application has been approved the applicant must collect their residency card (TIE) in Spain.

Whilst Spain’s non-lucrative visa is an excellent pathway for British retirees, leading to a fulfilling and legally secure retirement abroad. It may not be an entirely smooth route and it is keenly advised that the advice and guidance of an expert lawyer is sought before making your application as this could play a crucial role in ensuring a smooth transition. The implications of dual taxation treaties between the UK and Spain should be addressed, England and Wales residents are subject to specific inheritance and tax rules, which could differ significantly when residing in Spain

Giambrone and Partners’ lawyers specialising in cross-border immigration offer peace of mind by reviewing all your documentation and your application to ensure that there are no omissions or errors. Our lawyers have successfully overturned negative decisions and obtained a non-lucrative visa for our clients.

If you would like to know more about retiring to Spain and the visas required please click here.