ISLAND NEWS
16
JUNE 2023
VISAS
OVER THE NEXT COUPLE OF MONTHS, WE WILL EXPLAIN THE POSSIBLE VISAS NOW AVAILABLE TO BRITISH AND OTHER NON-EUROPEAN UNION (EU) RESIDENTS. BELOW WE DISCUSS THE NONLUCRATIVE VISA (NLV) WHICH IS DESIGNED FOR RETIRED OR FINANCIALLY INDEPENDENT PEOPLE. NEXT MONTH WE WILL TALK ABOUT THE NOMAD OR TELEWORKERS VISA, A NEW VISA FOR PEOPLE WORKING REMOTELY FOR COMPANIES SITUATED OUTSIDE SPAIN.
Non-working (Non-Lucrative) residence visa The 90-day rule in the Schengen Zone is a regulation that allows non-EU citizens to travel within the Schengen area without a visa for a maximum of 90 days within any 180-day period. This is a tourist visa, and you are not permitted to work. The non-working residence visa or NLV allows British citizens who are retired or financially independent to live in Spain for a longer period if they do not need to work. To be eligible for this visa, applicants must show proof of sufficient financial resources to cover all living expenses in Spain, as well as proof of private health insurance. The visa requires the person to spend a minimum of 6 months in Spain. The minimum amount of financial resources required is based on 400% of the IPREM (Public Multiple Effects Income Indicator). It is around €2,300 per month for the main applicant and an additional €580 per month for each dependent family member. This financial requirement can be met through various means, such as pensions, investments, or savings. The non-working residence visa is granted for a period of one year and can be renewed annually if the applicant continues to meet the eligibility requirements. After five consecutive years of residing in Spain with this visa, applicants may be eligible to apply for permanent residency in Spain. It is important to note that this visa does not allow its holders to work in Spain. If a visa holder wishes to work, they must apply for a separate work visa.
There are benefits of the visa as there is no need to make an investment in Spain, you can enjoy free movement throughout the Schengen area, and you can bring spouses and children. However, you must seek tax advice on your individual situation. Echeverria Abogados.com have a useful Blog on their website which covers the 6 risks to avoid when applying for a visa. One of them is failing to convince the official that you will spend 6 months in Spain due to financial inconsistency, family ties etc. You do not want to give the impression that you are only applying for the visa to gain free movement through the Schengen area! Required documents for an NLV or non-resident Visa 1. National visa application form 2. Non-working residence visa application EX-01 form 3. Passport sized photograph. 4. Valid, unexpired passport. 5. Proof of financial means. If you are of working age, you will need to prove receipt of a pension or provide a termination letter from your employer stating that you will no longer work for that company or, in case of selfemployment, you will need to provide an affidavit before a Notary stating that you agree not to work while residing in Spain.
British citizens must apply for the non-working residence visa at a Spanish consulate in the UK. Applicants must provide all necessary documents and attend a visa interview. It is recommended to start the application process a few months before planning to move to Spain to ensure enough time for processing.
In the case of retirees, the applicant must be a beneficiary of a state pension in convertible currency or be a beneficiary of a life annuity.
Once you visit Spain, you have one month to get your TIE card. You can also apply for Empadronamiento (confirmation of your official place of residence), although this is not obligatory.
6. Health insurance policy. This must be valid for 1 year and must cover all the beneficiaries of the visa for the risks insured by Spain’s public health system. No travel insurance with medical assistance coverage will be accepted.
In summary, this visa provides a viable option for those who wish to enjoy the relaxed Menorcan lifestyle in their retirement. It is a simpler process if you own a house in Spain. Otherwise, you must provide more paperwork regarding a rental contract.
Foreign documents must be legalised or apostilled and, where applicable, must be submitted together with an official translation into Spanish.
7. Criminal record check certificate. 8. Medical certificate.
D O N ’ T M I S S A N E D I T I O N , S U B S C R I B E T O D AY ! V I S I T: R O Q U E TA M A G A Z I N E . N E T
