Applicants for the Spain Non-Lucrative Visa must show sufficient funds to support themselves without working, meet a minimum income or savings threshold, provide health insurance proof, and have a clean criminal record.
To qualify for the Spain Non-Lucrative Visa, applicants must demonstrate that they have sufficient financial resources to support themselves (and any dependents) without engaging in any form of paid employment or professional activities in Spain. Here’s a detailed breakdown of the financial requirements:
1. Minimum Financial Threshold
- Primary Applicant: The minimum required amount for the primary applicant is 400% of the IPREM (Indicador Público de Renta de Efectos Múltiples) annually. For 2024, the IPREM is approximately €600 per month. Therefore, the minimum annual income required for the primary applicant is around €28,800 (€600 x 12 months x 4).
2. Additional Financial Requirements for Dependents
- Per Dependent: For each additional family member or dependent included in the visa application, an extra 100% of the IPREM per year is required. This translates to approximately €7,200 annually per dependent (€600 x 12 months).
3. Acceptable Forms of Proof
- Bank Statements: You can provide bank statements showing sufficient savings to cover the required amounts. These statements should typically cover the last three to six months and demonstrate consistent balances above the required threshold.
- Pension or Investment Income: If you receive regular income from pensions, dividends, or other investments, you can use this as proof of financial means. Documentation should clearly show the source, amount, and consistency of the income.
- Real Estate Income: Income from rental properties can also be used, provided it is reliable and meets the required financial thresholds. Supporting documents might include rental contracts and tax declarations.
4. Consistency and Reliability
- Sustainable Income: Spanish authorities will assess whether the income is consistent and reliable over time. The applicant must demonstrate that these funds will continue to be available for the duration of their stay in Spain.
- Legal and Official Documentation: All financial documents must be official, clearly indicating the amounts and sources of income or savings. Documents may need to be translated into Spanish and, in some cases, legalized or apostilled.
Summary
To obtain a Spain Non-Lucrative Visa, the primary applicant must show an annual income of at least €28,800, with an additional €7,200 required for each dependent. This can be demonstrated through bank statements, pension income, investment returns, or other forms of reliable financial resources. The income must be consistent, sustainable, and well-documented to satisfy the Spanish authorities.