The recent pandemic has almost forced every citizen to leave their expensive country and move to a comparatively cheaper country. To move to Spain, one has to get a non-lucrative visa that serves as a famous residence option for non-EU citizens. This visa allows them to live in Spain for a year or longer. However, the visa doesn’t allow you to work in the province, and to attain this visa you need to prove your financial sustainability.
The non-lucrative visa is especially known to provide a long-term resident status in the country to any non-EU citizen. You can call it a passive income visa that has to be shown to acquire resources for yourself while you stay in Spain. An NLV visa allows you these financial stabilities:
• The right to live and study in the country of Spain is granted by the visa
• If you want to retire from Spain, then it is an excellent option via this non-lucrative visa
• A pathway to acquire a permanent residency in Spain with the help of a permanent residence allowance
• One can get a permit for an EU passport and Spanish citizenship
Who Can Apply for an NLV in Spain?
The program has been made open to any non-EU citizen. The best part is your family can also become a part of this application. The eligible members of your family comprise your partner or spouse, and any dependent children of yours. The non-lucrative visa is a popular route for the UK citizens moving to Spain post-COVID scenario.
What Is Non-Lucrative?
Non-lucrative stands for a passive income stance or a means by which you can sufficiently run your family and your needs in Spain without even working. You need to establish your economic efficiency. While acquiring a visa online is possible and there are major virtual trends that follow a non-lucrative policy, always remember that you need to look out for a master of cyber security. With the growing threats to online happenings, a guaranteed passive income or fund disbursement can become fatal.
This visa is specially designed for:
• Retirees wishing to live in Spain
• Anyone with an annuity, pension, or endowment
• Beneficiaries of investments made my income-producing section
• The ones who are economically sufficient and have healthy savings
• Ones who can afford to live in Spain even without working
Requirements for Non-Lucrative Visa in Spain
There are four typical requirements for submitting a successful application and acquiring a non-lucrative visa in Spain. For this, you need to show that:
• You are economically sufficient to support yourself as well as your family members. You may work or not, but have enough savings to sustain yourself
• You have sufficient and proper Spanish medical insurance. If not, you must have international expat medical insurance
• You should be in good health
• Don’t have any criminal records in the past
You need to know that you are incapable of carrying out any professional or economical activity in Spain. However, acquiring a non-lucrative visa allows you to move to Spain and retire there peacefully with your savings. Americans have found this economical in the post-COVID world.