Requirements for Spain’s Non-Lucrative Residence Visa
The non-lucrative residence visa is a popular option for Filipino professionals, entrepreneurs, and retirees looking to legally reside in Spain long-term. This type of visa does not allow you to work or run a business in Spain, but it does provide Filipinos with a pathway to citizenship.
To qualify for the non-lucrative visa, applicants must meet several requirements related to financial means, health insurance, and clean criminal record. In this blog post, we’ll break down the key eligibility criteria and documentation needed to apply.
Financial Means Requirement
The most important requirement is demonstrating that you have sufficient recurring income to support yourself in Spain. This income amount is based on the IPREM (indicador público de renta de efectos múltiples) so it changes annually. Proof of actual income of 4 times the IPREM is required. As of 2024, non-lucrative visa applicants must show monthly income of €2400 or €28,800 annually. This can be from pensions, investments, rental income, etc. If you are married or with dependents, the required income amount increases.
You’ll need to provide official documents like bank statements, investment account statements, title deeds, and tax documents. Usually, at least one year of bank statements are required. The funds must be transferred to a Spanish bank account under your name.
Health Insurance Requirement:
You must also get private health insurance with a Spanish company that fully covers you in Spain. This policy can be canceled once you register for public healthcare after being approved as a resident. Alternative proofs of health coverage may also be accepted.
Clean Criminal Record:
A certificate of good conduct or lack of criminal record in your home country is needed. It is usually the police clearance. In the Philippines, this is called the NBI clearance. If you lived in another country for over 6 months in the last 5 years, you may need to provide a police record from there too.
Next Steps:
Meeting the financial means, health insurance, and clean criminal record requirements are key to getting approved for the non-lucrative visa in Spain. Be sure to work with an experienced immigration lawyer to properly prepare and translate all required documents. We can advise you on the strongest case to maximize your chances for visa approval.
Contact us today to start your application process. Our team of Filipino lawyers and advisors are ready to help you migrate to Spain the legal way.
Conclusion:
The non-lucrative visa provides an excellent opportunity for Filipino professionals, entrepreneurs, and retirees to gain temporary or permanent residency in Spain. While the financial means requirement is the most critical, you must tick all the boxes for eligibility and prepare a strong application. Work with our law firm to ensure you submit a complete visa application that highlights why you deserve approval. Send us an email at kpborra@borralaw.com