What visa do I need to retire in Spain?

Once you have made the decision to retire in Spain the next decision you may have to make is which visa you will apply for. However, this will only apply to retirees from outside the European Union (EU). Retirees from within the EU don't need to apply for any visa to retire in Spain.

Spain offers two options for non-EU retirees:

1. The Golden Visa
2. The Non-Lucrative Visa (NLV), often referred to as the ‘Retirement Visa’

Option 1: The Golden Visa for Retirement

This is a popular visa for wealthier retirees. The Golden Visa is also referred to as the Investor Visa because it requires substantial investment in the Spanish economy. This investment can take the form of property, bonds, a company, or a bank deposit. However, there is a minimum investment requirement, which is currently at €500,000. The Golden Visa has proven to be the quickest and easiest route to a residence permit in Spain and, in the future.

Another big advantage of the Spanish Golden Visa programme is that you are not required to stay in the country for a minimum period. You only need to visit Spain at least once a year. Your first permit will be for two years. You can renew and extend it for another 5 years as long as you still meet all the requirements. Once 5 years have passed, you can apply directly for permanent residency.

The requirements for obtaining a Golden Visa are:

• Being at least 18 years of age
• No criminal record for the last 5 years
• Having legal status in Spain - i.e. your visitor's visa hasn't run out.
• Being able to support yourself financially in Spain, and your family members, if you include them.
• Having private or public medical insurance in Spain for you and your family members, if you include them.
• Making an investment in the country in excess of €500,000

Investment possibilities to obtain the Golden Visa:

• Buying property in Spain with a minimum value of €500,000. The property must be free of encumbrances, mortgages, and any other debt, such as taxes.
• Capital transfer of €1,000,000 or more
• Investing €1,000,000 or more in shares or stocks of a Spanish company
• Depositing €1,000,000 or more in a Spanish bank account.
• Investing €2,000,000 or more in Spanish public debt
• Investing in a business. In this case, there is no minimum requirement, but there are some strict requirements. Your investment will need to generate employment locally. Secondly, the investment is expected to be in the local area and contribute to technical or scientific progress.

Family benefits of applying for a golden visa in Spain

With the Golden visa, you will be able to live in Spain with your entire family. This includes your spouse and children even if they are over 18 years of age. In addition, it also applies to your parents, whatever their age, as long as they are financially dependent on you, the applicant. Your family will be able to live in Spain, even if you can't for whatever reason, such as international work obligations.

Travelling benefits within the European Union

With Spain’s Golden Visa programme, you will benefit from freedom of movement within the EU whether that be for pleasure or business. With a Spanish golden visa, you will be able to exchange your current driving licence for a Spanish driving licence which is valid throughout the EU.

Within the Schengen Zone, you can visit these countries with your Spanish Golden Visa without applying for any other visa:

Austria, Belgium, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Sweden, and Switzerland.

You have no tax liability as a resident with a Golden Visa

When you hold a Golden visa you can be a resident in Spain without being a tax resident. This is the case, as long as you do not extend your stay more than 183 days. The only taxes you will be liable for are those derived from your property purchase. If you do extend your stay you will be classed as a tax resident. To find out more about taxation when you retire to Spain, please read this article.

Applying for the Spanish Golden Visa

Spain’s Golden Visa is applied for either at the Spanish consulate in your country of residence or in Spain. However, if you are in Spain, you must not have exceeded the 90-day limit otherwise you will have illegal status and not be able to apply. You can, alternatively, appoint a power of attorney to a lawyer in Spain, who can act on your behalf and present the necessary documentation:

• A copy of your passport - translated and notarized
• Foreign Identification Number (NIE)
• Documents proving the purchase or ownership of property or documents proving the investments made in Spain for the required minimum value.
• Bank statements
• Visa application form filled out and signed.
• Recent criminal record certificate which proves neither you nor any member of your family (over 18) have a criminal record.
• Proof of having medical insurance with a Spanish insurance company
• Medical certificate proving you are not a danger to the Spanish population.
• A recent passport photograph
• Proof of payment for Visa fees.

Option 2: The Non-Lucrative Visa - Spain’s Retirement Visa

The Spanish Non-Lucrative Visa (NLV) was designed for non-EU citizens who can financially support themselves in Spain without working. The NLV is by far the most solicited visa for retirees. One of the main benefits of this visa is that it allows you to include your entire family in the application. However, you must meet the minimum financial requirements established by the Spanish government for all family members.

After living in Spain for 5 years, you will qualify to apply for permanent residency. However, you will need to have met the minimum stay requirements to be eligible for permanent residency. To meet this, you must live in Spain for at least 6 months per year for 5 consecutive years.

Who Can Apply For A Non-Lucrative Visa?

You can apply for a non-lucrative visa in Spain if you meet the following criteria:

• You are a non-EU citizen.
• You meet the financial requirements of the Spanish state to live without working.
• You have private health insurance.
• You don’t have a criminal record.
• You are in Spain for at least 6 months a year.
• You have no intention of working in Spain.

What are the financial requirements to apply for the Non-Lucrative Visa?

The main requirement for a Non-Lucrative Visa is that you must prove you have the financial means to support yourself and your spouse or dependant family without working.

To be eligible for the Spain Retirement Visa, you'll need to prove that you have a total disposable income of €28,800 per year. Alternatively, you can prove that you have a guaranteed monthly income of €2,400. In addition to this, you'll need to show that you can provide an extra €7,200 per year for each family member you plan to bring along with you to Spain.

Unlike the Spanish Golden Visa programme, you are not required to make any investments or purchase any property before applying for it.

Family members on a Non-Lucrative Visa

With Spain’s NLV, your immediate family will be able to accompany you to Spain. The procedure is straightforward, and you will all be given the visa at the same time. However, you will need to provide proof that you can financially support them during your stay in accordance with the government requirements as previously stated.

Travel Through Europe on a Non-Lucrative Visa

Another benefit of Spain’s non-lucrative visa is that you'll be able to travel throughout the Schengen area without any additional visas.

You can visit any of the following European countries:

Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Sweden, and Switzerland.

Long-term residency and citizenship with a Non-Lucrative Visa

If your long-term plans are to become a permanent resident or even apply for citizenship, don't worry as this can be achieved with a non-lucrative visa too.

Initially, you will be granted residence in Spain for 12 months. Afterwards, you can renew the visa for a further 24 months. However, to do this you will need to have spent at least 183 days in Spain during your first 12-month period. After that, you'll be allowed to renew your visa two more times. Once you have lived in Spain for 5 years, you can apply for long-term residency, but only if you have met the minimum stay requirements. To do this, you will have had to have lived in Spain for a minimum of 183 days a year for 5 consecutive years.

Once awarded the long-term residency, your next step can be Spanish citizenship. To be eligible, you need to live in Spain for 183 days per year for a further 5 years. In total, 10 consecutive years.

Applying for the Non-Lucrative visa

How long does the non-lucrative visa take to be processed?

The Spanish non-lucrative visa usually takes between 2-3 weeks to process from the date of submission. However, if there is a backlog of applications it can take up to three months so plan ahead to be sure. Once you have been notified that your visa is ready, you have one month to collect it. If you don’t collect it within the month it will be cancelled.

Spanish non-lucrative Visa Fees

The visa fees vary depending on your country of origin. The non-lucrative visa fees for Spain currently are as follows:

• 123€ for US citizens
• 507€ for Canadian citizens
• 80€ for other nationalities

What documents do you need to apply for the non-lucrative visa?

To apply for a Non-lucrative visa must present the following documents:

• A Filled-out and signed Non-Lucrative Visa Application Form
• A Filled out and signed EX-01 Form: You can find the form on the official government website. Unfortunately, this form is only available in Spanish.
• A Copy of your Valid Passport: Your passport must be valid for at least 1 year and have 2 blank pages available for your visa. It must not be older than 10 years either.
• 2 identical recent colour passport photos.
• Evidence of sufficient financial income. You must submit the original and a copy of documents that prove that you can support yourself financially for at least the first year of living in Spain. Examples of documents that prove sufficient financial means are:
  • Bank statements for the last three months.
  • Pension or annuities statements.
  • Evidence of earnings from rented property.
  • Tax returns.
• Private health insurance valid for 12 months.
• Medical certificate. The medical certificate should prove that you don’t have any disease that can cause danger to the population. It should be notarized and accompanied by an official Spanish translation.
• Criminal record document. This document proves that you haven’t had a criminal record for the last five years. It must not be older than three months and should be issued in your country of residence before travelling.
• NIE number. A personal unique number is given to every foreigner who plans on staying in Spain for more than six months. You should apply for this number before you apply for a visa at the consulate. To find out how to apply for an NIE please read this article.

If your spouse is travelling with you:

In addition to the above-mentioned documents, your spouse must also present the following:

• A recent copy of your marriage certificate. It must be translated into Spanish by a certified translator and must be notarized.

If your children are travelling with you:

You'll need to present the above-mentioned documents along with the following:

• Birth certificates for all children. The birth certificates must be translated into Spanish and notarized.

Proving That You Have Private Health Insurance

The non-lucrative visa does not give you access to the public health care system in Spain. As a result, you're required to obtain private health insurance that will cover any medical costs for a period of 12 months. Your health insurance is required to provide full coverage for yourself and any family members travelling with you and must meet the following requirements:

• The health insurance must be provided by a Spanish insurance company.
• Your health insurance must be valid for at least 12 months.
• Your health insurance policy must give the same coverage as that of the public health system in Spain without any co-payments.

Private health insurance in Spain is much cheaper than in other countries. You should expect to pay between €50 and €200 per month, depending on the plan you contract. You can get more information on private health care when retiring in Spain here.

Once you have been a resident in Spain for at least 12 months you can apply for the ‘Convenio Especial’. This is a scheme which allows you to pay a monthly fee and access the public health care system giving you full health coverage. For more information please go to our article on how to access the public health system when retiring to Spain.

Where to apply for a non-lucrative visa?

You will need to apply at your local Spanish consulate or embassy. We recommend that you contact your nearest embassy or consulate before applying to ensure you follow their specific process as it can differ from country to country.

Once you have your non-lucrative visa, what is the next step?

Once you arrive in Spain, you will need to apply for the Tarjeta de Indentificaión Extranjera (TIE) also referred to as a residency card. Your non-lucrative visa will be granted for 90 days, so you must travel to Spain and apply for it at the immigration office. Here, you'll need to apply for the TIE which will replace your visa. To find out how to apply for a TIE card please read this article.

Please keep in mind that visa requirements are subject to change, so it is very important to check the latest information with the Spanish consulate in your country of origin. However, if you are happy for the time being that you have enough information on visas, why not start exploring some of the best places to retire in Spain?