Applicants for the Non-Lucrative Visa must show proof of sufficient income from various sources like savings, investments, pensions, or remote work to meet or exceed set thresholds.
To maintain the Non-Lucrative Visa status in Spain, applicants must demonstrate that they have sufficient financial means to support themselves without engaging in any work or professional activities. The required amount is based on the IPREM (Indicador Público de Renta de Efectos Múltiples), which is the public income index used by Spanish authorities to determine the minimum income required.
1. Minimum Income Requirement
- Primary Applicant: The minimum financial requirement for the primary applicant is set at 400% of the IPREM per year. For 2024, the IPREM is approximately €600 per month, so the annual requirement would be around €7,200. Therefore, the primary applicant must show an income of at least €28,800 per year (400% of the IPREM).
- Additional Family Members: For each dependent family member included in the application, an additional 100% of the IPREM per year is required. This means that for each additional family member, you would need to show an additional €7,200 per year.
2. Types of Acceptable Proof of Income
- Bank Statements: Applicants can submit recent bank statements showing sufficient savings to cover the required amount for the entire year.
- Pension Payments: For retirees, proof of regular pension payments can be used to meet the income requirement.
- Investment Income: Documentation showing income from investments, such as dividends or rental income, can also be acceptable, provided it meets the required threshold.
- Other Passive Income: Any other form of passive income, such as royalties or annuities, can be included as long as it is sufficient and consistent.
3. Financial Documentation Requirements
- Consistency and Reliability: The financial documentation provided must demonstrate that the applicant has a reliable and consistent source of income. Spanish authorities will assess whether the income is likely to continue for the duration of the visa period.
- Document Translation and Legalization: All financial documents must be translated into Spanish and, if necessary, legalized or apostilled to meet Spanish legal requirements.
4. Renewal Requirements
- Annual Reassessment: When renewing the Non-Lucrative Visa, applicants must again prove that they meet the financial requirements. This includes providing up-to-date financial documentation to show that the income or savings remain sufficient.
Summary
To maintain the Non-Lucrative Visa status, the primary applicant must demonstrate an annual income of at least €28,800, with an additional €7,200 required for each dependent. Acceptable proof of income includes bank statements, pension payments, investment income, and other forms of passive income. It is essential to provide consistent, reliable documentation that meets Spanish legal standards.