Spain Retirement Visa for US Citizens

Spain does not offer a dedicated Retirement visa. However, it does offer two visa routes which are popular choices with retirees. These are the Non Lucrative visa and the Golden visa.

The Non Lucrative visa is intended for applicants who are already financially self-sufficient and so will not need to work upon arrival in Spain. The Golden visa provides a route to living in Spain for those in a position to invest sufficiently in the Spanish economy. There are numerous forms which this investment can take, such as real estate and investment in Spanish shares. While the Spanish government has announced the discontinuation of the real estate route, this route remains available until its official closure.

The Non Lucrative visa does not authorize work upon arrival in Spain. If you plan to work remotely upon arrival in Spain, the Digital Nomad visa might be a better fit for you.

Page Contents

• What is Spain’s Retirement Visa?
• Eligibility Criteria for the Spain Retirement Visa
• Financial Requirements for the Retirement Visa in Spain
• Application Process for the Spain Retirement Visa
• Required Documents for Spain Retirement Visa
• Visa Cost and Processing Time
• Benefits of the Retirement Visa in Spain
• Visa Renewal Options
• Path to Spanish Citizenship
• How Can Total Law Help With Your Spain Retirement Visa?
• Frequently Asked Questions

The exact eligibility criteria for your Retirement visa will depend on your chosen route. The requirements vary depending on whether you have selected the Non Lucrative visa or the Golden visa.

Non Lucrative visa

The Non Lucrative visa is designed for applicants who already have a passive income and so will not be required to work once they arrive in Spain. If you have passive income from outside of Spain or sufficient life savings, this route might be the right fit for you.

In particular, you will need to satisfy the following eligibility criteria:

• You must have an annual passive income of approximately €28,800 (note that this figure can also be composed of or supplemented by your life savings). In the event that any immediate family members are also included in your application, you will require an additional €7,200 per family member.
• You will need to demonstrate that you have had a clean criminal record for at least the last 5 years..

This route is intended specifically for people whose income is passive and so who do not need to work upon arrival in Spain. If you wish to work upon arrival in the country, you should consider alternative routes. Spain offers a wide range of Work visas. Contact Total Law today on +1 844 290 6312 to learn more.

Golden visa

This visa, also known as the Investor visa, is a good fit for applicants in a position to invest sufficiently in the Spanish economy. This investment can be through numerous avenues, including public debt, bank deposits, shares, and real estate. You will also be expected to provide a clean criminal record check.

While the Spanish government has announced the discontinuation of the real estate route, this remains available until its official closure. However, in the long-term, the Non Lucrative visa is likely to be a better route, as your savings can be used to demonstrate your financial self-sufficiency.

The financial requirements for the Retirement visa vary substantially between the two main routes. Both the Non Lucrative visa and the Golden visa have unique financial requirements.

Non Lucrative visa

Applicants for the Non Lucrative visa will be expected to demonstrate that they have approximately €28,800 in passive income, or in savings, per year. This increases by €7,200 for each additional family member who joins the application.

A range of passive income forms can be used as part of this route, including royalties, interest on savings, dividends, and rental payments from non-Spanish properties.

If you choose to renew your visa, you will be expected to demonstrate that you have sufficient financial means to cover the full duration of the renewal period, which is 2 years.

Golden visa

This visa route generally requires the applicant to meet a higher financial threshold. However, there are a number of forms which your investment can take, including:

• An investment of at least 1 million euros in shares of Spanish companies
• A deposit of at least 1 million euros in a Spanish bank or financial institution
• An investment of at least 2 million euros in Spanish public debt securities
• An investment of at least €500,000 in Spanish property (this amount does not all need to be invested in 1 property- the investment can be split across properties)
• Setting up a new business which either creates new jobs, makes a valuable contribution to science or technology, or has a positive socio-economic impact.

There are a number of stages involved in applying for a Spanish Retirement visa.

You will need to apply via your local Spanish embassy or consular office. In the US, these can be found in Boston, Chicago, Houston, Los Angeles, Miami, New York, San Francisco, and Washington DC. There is also a consulate general in Puerto Rico.

After you have submitted your application, you will receive a confirmation receipt which will allow you to track your application’s progress.

Your application will now be processed. In the case of successful applications, you will be granted a visa. This should be collected within 1 month of receiving the notification that it is ready.

If you are taking the Golden visa route, you will receive a permit which allows you to work once you arrive in Spain. After its 1-year duration has elapsed, you can apply for a 3-year residence permit, which can be renewed indefinitely.

While the exact documents which you require for your application will depend on the visa for which you are applying, you will generally require a combination of the following evidence:

• Passport
• Criminal record check certificate
• Proof of Spanish private health insurance
• Health certificate
• Evidence of sufficient investment in the Spanish economy, if applicable
• Evidence of sufficient financial means, if applicable (e.g. bank statements, proof of passive income, financial records, etc.)

Note that, if any family members are also applying as part of your application, additional documentation will also be necessary. For example, they will also need to provide their passports, and you will also be expected to demonstrate proof of the family relationship and that the extra financial requirements have been met.

All the required documents must be translated into Spanish by an authorized translation service.

Non Lucrative visa applications generally cost €516 . However, in the case of US applicants, this cost can rise to around €123. In the case of Canadian applicants, this can increase to around €507.

Golden visas are generally more expensive. For the exact amount which you will be expected to pay, contact Total Law today on +1 844 290 6312.

Regarding processing times, you should hear back about your Golden visa decision within 20 days. The waiting time is generally longer for the Non Lucrative visa and, while you should hear back within 5 weeks, this can increase to 3 months in some circumstances.

In order to ensure that your application is processed as quickly as possible, make sure to submit all required documents at the time of application, ensure that your documents are translated into Spanish by an authorized translator, and quickly provide any additional information which is requested.

Retiring in Spain offers a number of benefits. For one, the country has a thriving culture, including excellent food, museums, and galleries, providing lots of forms of entertainment.

Additionally, Spain is conveniently located in the EU, meaning easy access to other European countries. It is also well-connected to countries such as the UK.

Spain also boasts excellent healthcare, meaning you can be assured that your health will be in excellent hands during your retirement.

Overall, Spain is a vibrant and beautiful country which has much to offer the American retiree.

Both the Non Lucrative visa and the Golden visa can be renewed upon expiry, provided that you continue to satisfy the eligibility criteria.

Under the Golden visa route, you will generally receive an initial permit with a duration of 1 year. Afterwards, you can apply for a Residence permit with a duration of 3 years. You can renew this permit indefinitely, or apply for permanent residency after living in the country for 5 years.

Under the Non Lucrative visa route, you are authorized to live in Spain for an initial 1-year period, after which you can apply for a 2-year extension. After this 2-year period has elapsed, you can apply for another 2-year extension. While this visa type cannot be renewed indefinitely, you can apply for permanent residency after living in Spain for at least 5 years.

After living in Spain legally and continuously for at least 5 years, you may be eligible for Spanish permanent residency. This means that you can settle permanently in Spain for the duration of your retirement. However, permanent residency is distinct from Spanish citizenship and does not grant the same advantages.

After 10 years of legal and continuous residence in Spain, you may now be eligible for Spanish citizenship. However, applying for Spanish citizenship has additional requirements, such as proving that you have sufficient proficiency in the Spanish language and sufficient knowledge of Spanish culture and society.

If you do obtain Spanish citizenship, you will gain a number of advantages. These include the ability to vote in Spanish elections and to apply for a Spanish passport. As Spanish citizenship grants automatic EU citizenship, you will also be able to live, work, and study in the EU without requiring a visa.