Retirement Visa Spain
Spain is a popular choice for many retirees. It offers a warm climate, excellent healthcare, a rich culture, and numerous travel opportunities. If you are a retiree who is planning to retire in Spain, you are likely to require a Retirement visa.
Applying for a visa can be complicated and confusing. At Total Law, our legal experts are adept at advising on cases like this. Contact us online today or on +34 919015010 to learn more.
Overview of the Spain Retirement Visa
While Spain does not offer a specific Retirement visa, it does offer numerous routes which can be used by those looking to retire in the country. The main routes are the Non Lucrative visa and the Golden visa.
The Non Lucrative visa is designed for those with a passive income who will not need to work whilst in Spain and the Golden visa is designed for those able to invest a sufficient amount in the Spanish economy.
These routes allow the visa holder to live in Spain during their retirement. They also provide an eventual route to permanent settlement.
While the Spanish government has announced the discontinuation of the Golden visa route for those investing in real estate, the route is still available until it is formally closed.
Page Contents
- Overview of the Spain Retirement Visa
- Eligibility Criteria for the Retirement Visa for Spain
- Required Documents for the Retirement Visa Spain
- Financial Requirements for the Spain Retirement Visa
- Application Process for the Spain Retirement Visa
- Application Cost and Processing Time for Retirement Visa in Spain
- What are the Benefits to Retiring in Spain?
- Renewing My Visa
- How Can Total Law Help?
- Frequently Asked Questions
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Eligibility Criteria for the Retirement Visa for Spain
Spain does not have a specific Retirement visa but it does have two visas which are commonly used by retirees. These are the Non Lucrative visa and the Golden visa, and the eligibility criteria vary between the two routes.
Non Lucrative visa
The Non Lucrative visa is intended for those who are already financially self-sufficient and so would not need to work upon arriving in Spain.
As such, it is likely to be a good fit for those with a passive income from outside of Spain or with sufficient life savings.
The eligibility conditions for this route are as follows:
- You must meet the minimum financial means threshold. This will generally be a passive income of approximately 400_iprem_yearly_income a year, though this income can also be supplemented by your personal savings (provided that you are able to show sufficient evidence). If any family members are also applying as part of your application, an extra 100_iprem_yearly_income will be required per additional family member
- You must provide a criminal record check showing that you have had a clean criminal record for at least the past five years
Note that, if you intend to continue working during your retirement, this is not the right route for you.
As the Non Lucrative visa is not a Work visa, it does not authorise working when in Spain, either remotely or in person.
If you wish to work remotely from Spain during your retirement, the Digital Nomad visa is likely to be a better fit.
Golden visa
The Golden visa, also known as the Investor visa, provides a route to retiring in Spain through sufficient investment in the country. In order to be eligible, you will need to satisfy the following criteria:
- Invest a sufficient amount in the Spanish economy. There are a number of forms which this investment could take, such as real estate, public debt, bank deposits, starting a new business, shares, or venture capital
- Clean criminal record check
While the Spanish government has announced the discontinuation of the programme, with a particular focus on the real estate route, this has not yet come into force and so the Golden visa remains available for the time being.
Required Documents for the Retirement Visa Spain
While the exact documents required for your application will depend on the Retirement visa route which you have chosen, you will generally require a combination of the following:
- Valid passport
- Criminal record check certificate
- Passport photo, to the Spanish specifications
- Evidence of sufficient financial means (e.g. bank statements, financial records, etc.) The exact evidence will depend on the route which you have chosen
- Proof of Spanish private health insurance
- If any family members are also applying as part of your application, they will also need to provide their passport, in addition to proof of familial relationship and that any additional financial requirements have been satisfied
Financial Requirements for the Spain Retirement Visa
The financial requirements vary between the Non Lucrative visa and the Golden visa. The different requirements are as follows:
Non Lucrative visa
In the case of the Non Lucrative visa, you will need to demonstrate that you have either passive income or personal savings which are equivalent to €28,800 a year. If any family members are joining your application, you will need to provide evidence of an extra €7,200 per family member.
Under this route, your passive income can take a number of forms, including rental payments from non-Spanish properties, royalties, interest on savings, dividends from your investments, and trust fund disbursements.
This income can be supplemented by your savings. As such, if you have €30,000 in savings at the time of application, you can apply on this basis.
When renewing the visa after 1 year, the renewal duration is 2 years.
As such, you will instead need to provide evidence of either €60,000 in passive income or in savings. This is also true if you renew your visa a second time, for an additional 2 years.
Golden visa
Under the Golden visa route, you have a range of investment options.
These are as follows:
- Investing at least €500,000 in Spanish property (this amount can be split across more than 1 property)
- Invest at least 2 million euros in Spanish public debt securities. This investment can take a number of forms, including bonds and treasury bills
- Invest at least 1 million euros in Spanish closed investment funds or venture capital funds
- Invest at least 1 million euros in shares of Spanish companies
- Deposit at least 1 million euros into a Spanish bank or financial institution
- Set up a new business which satisfies one of the following criteria: creates new jobs, has socio-economic impact, or makes a valuable contribution to science or technology
Application Process for the Spain Retirement Visa
The application steps will vary slightly depending on the visa for which you are applying. In general, however, you will need to complete the following steps.
Firstly, you should apply via your local Spanish embassy or consular office. These can be found in numerous global locations. You will need to submit all of your required documentation.
Once your application has been submitted, it will now be processed. If your application is successful, you will receive a visa which can be used to legally enter Spain.
In the case of the Golden visa, you will also receive a permit which will allow you to work in Spain. This is valid for up to a year. After this year has elapsed, you can apply for a Residence permit which lasts for up to 3 years.
If your application is unsuccessful, you will be provided with the reasons for the decision. You also have the right to appeal the outcome. Contact Total Law today on +34 919015010 to learn more about how we can help you with this process.
Application Cost and Processing Time for Retirement Visa in Spain
In most cases, the cost of applying for a Non Lucrative visa is €516. However, the exact amount depends on your nationality and so may be higher.
In the case of Canadian applicants, for example, the fee may be around €500. The cost of applying for a Golden visa is often significantly higher.
For exact figures on how much you should expect to pay, contact Total Law today on +34 919015010.
In general, you should receive a decision on your Golden visa within 10 to 20 days.
In the case of the Non Lucrative visa, you should hear within 5 weeks, although it can sometimes take up to 3 months.
In order to avoid delays, make sure to promptly provide any additional information which is requested and to submit your initial application correctly.
What are the Benefits to Retiring in Spain?
Retirement in Spain is a popular choice for many retirees who are looking to relocate.
There are many benefits to retiring in Spain, including a warm climate, a lower cost of living, a rich culture, thriving towns and cities, numerous areas of natural beauty, and great travel connections.
It also offers excellent healthcare services. Whatever your interests, living in Spain offers a wide range of advantages. As such, retiring in Spain is a popular choice for many retirees looking to relocate.
Renewing My Visa
It is possible to renew both the Non Lucrative visa and the Golden visa after they expire.
In the case of the Non Lucrative visa, you will initially be authorised to stay in Spain for up to 1 year. After this period of time has elapsed, you can apply for a 2-year extension. Note that you will need to provide evidence of sufficient financial means to cover both of these 2 years. Once the 2 years have elapsed, you will be able to apply for a further 2-year extension, and will again need to demonstrate sufficient financial means to cover the full period.
In the case of the Golden visa, you will initially receive a permit which is generally valid for up to 1 year. After this, you can apply for a Residence permit which is valid for up to 3 years. This can be renewed indefinitely, provided that you continue to satisfy the eligibility criteria.
After you have lived legally in Spain for at least 5 years, you can apply for Spanish permanent residence. This would allow you to settle permanently in Spain. After 10 years of legal and continuous residence, you can apply for Spanish citizenship.
How Can Total Law Help?
Spain is a beautiful country with a warm climate and easy access to the rest of the EU. It has a rich culture, a thriving cultural scene, and excellent healthcare.
As such, it is a popular retirement choice for many retirees looking to relocate. While it does not offer a dedicated retirement route, it does offer the Non Lucrative visa and the Golden visa, both of which are popular options with retirees.
However, both of these routes have complex rules and requirements and applying for these visas is often time-consuming and complicated. At Total Law, our legal experts are adept at offering bespoke legal advice in such cases.
We can help with every stage of the application, from picking which route is right for you to understanding the legal requirements once you arrive in the country. Contact us online today, or on +34 919015010 to learn more about how we can help.
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Our Fast-Track Application Package gives your case priority with our immigration lawyers, helping you get your application prepared, checked and submitted as quickly as possible.
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We will examine the reasons for refusal, identify weaknesses or errors, assess your available options and provide the legal support and representation your case requires.
Related pages for your continued reading.
Frequently Asked Questions
If you are an EU citizen, you will not require a visa in order to retire in Spain. This is because your EU citizenship grants you the right to live in other EU member countries without needing a visa.
After living in Spain for 6 months, you will be considered a Spanish tax resident. You will then be expected to pay tax on any non-Spanish income.
To learn more about how much tax you will be required to pay, contact Total Law today on +34 919015010.
If you plan to continue working during your retirement in Spain, this will affect which visa is the right route for you. Firstly, the Non Lucrative visa will not be a good fit, as it is not a Work visa and working in Spain is not permitted under this route.
If you wish to work remotely in Spain, the Digital Nomad visa is likely to be a better fit. If you wish to start your own business in Spain, you should consider the Golden visa, Entrepreneur visa, or Self-Employed visa.
For other types of work, you should consider alternative Work visas.
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