Non Lucrative Visa in Spain

For some time now, Spain has been one of the favourite destinations for expats. In this sense, Spain meets a series of requirements that attract both those who already live in Spain and foreigners who are considering moving and starting a new life. First of all, the Mediterranean climate is what most attracts foreigners, as well as the cultural and historical background of the country’s most emblematic cities, its landscapes and its beaches. Also the food and lifestyle make Spain one of the best places to start a new life.

So, if you are planning to settle in Spain, a non-lucrative residence visa is the best option. In order to apply and obtain this residence permit, you must meet certain minimum requirements. In this article, you will find all the information about the non lucrative visa spain financial requirements 2021.

At My Spain Visa, a visa boutique in Spain where you can count on the support and guidance of a digitally progressive team with more than 10 years of experience with NLV visas, you will find the best feedback, you only have to send them your queries and in less than 24 hours you will receive feedback from them.

First of all, it is important to clarify that a non-lucrative residence visa is a unique type of residency permit in Spain for non-European citizens who intend to travel to Spain for a long period of time. This type of residence permit, as its name suggests, does not allow doing any economic and professional duties in Spain. 

For this reason, the non-lucrative residence visa is the best option for all those who are looking for a new place to live or reside in Spain for a long period of time without the need to invest there. Therefore, those interested will have to prove that they can support themselves economically in the country, at least for one year, without the need to work or receive any economic benefit.

After the initial year of residence in Spain, this visa is renewable every 2×2 years thereafter, for a total of 5 years of stay. However, if after this period of time you decide to stay in Spain, you can apply for a permanent residence permit. In addition, it is worth noting that the Spanish non-profit residence visa allows you to bring your family members as long as you have enough money to support them.

Other benefits of this residence permit include the fact that you can freely visit any of the Schengen States for short periods of less than 90 days without acquiring another visa. The Schengen nations encompass 26 member states, including Austria, Belgium, the Czech Republic, and Denmark.

There is no doubt that this type of visa benefits, above all, people who intend to work remotely from Spain for their companies or businesses in their countries of origin. The visa holders are allowed to continue working in other countries. However, the truth is that there are some consulates that refuse to grant you your Non-Lucrative Residence Permit visas if you are going to continue working remotely.