Non-Lucrative Residency (Retire in Spain)
Who is THIS RESIDENCY for?
The Non-Lucrative Residency Permit is for applicants who wish to retire in Spain, or for those that are able to conduct their business remotely.
This permit requires proof of receiving a regular income anywhere in the world either from a business activity, corporate dividends or interest on investments. It does not allow the applicant to officially work in Spain.
Yes, it is possible to apply with the spouse and children who are dependents.
There are 3 periods of validity: initially, a 1-year permit is granted, followed by two 2-year residency renewals after which the applicant, meeting certain criteria, can be eligible for a permanent residency card.
It is also possible to apply for citizenship (10 years of residency).
The main applicant must be able to prove a monthly income of at least 4 times the I.P.R.E.M. (€532 x 4), and an additional €532 per each family member co-applicant. For example, a family with 3 members will have to prove a monthly income of 6 times the I.P.R.E.M., or approximately €3,200 per month.
You are also required to have a place to stay, either rented or in ownership. You are also required to have a bank account with enough funds for the duration of your permit. Finally, you are required to have a clean criminal record in the country where you have lived in the last 4 years and private medical insurance, in Spain.
Children under the age of 16 will have to be enrolled in a school, whether public or private, as this is a nationwide obligation.
It may take in the region of 45 days to get the required application paperwork ready. It may take between 3 – 8 weeks to be approved from date of application, depending on the Consulate and the time of the year.
By law, you are required to spend more than 6 months in Spain to be eligible for renewal. If you do not spend this time the authorities may not renew the permit although this is not always the case; however, it is important that you are aware that there is a risk of rejection should the authorities detect that you have not been in the country for at least 6 months per year, either in one period or in alternate periods.
To ultimately qualify for permanent residency, the applicant must show that he/she has not been out of the country for more than 10 months in a 5-year period.