Retiring among natural and historical landscapes, in a calm region with a pleasant climate and good quality of life, is a dream for many people. In Spain, this is possible, thanks to the retirement visa. In this article, we explain what it is, the requirements, and how to apply. Let’s go!
Is There a Retirement Visa in Spain?
Yes, but it is known as a non-lucrative residence visa. This visa is intended for individuals with fixed incomes who live in Spain without engaging in any employment activities. Therefore, although it is not exclusively for retirees, it fits perfectly for this audience.
How Does the Non-Lucrative Residence Visa in Spain Work?
This visa allows non-EU citizens to live in Spain without engaging in economic activities. Initially, it allows residence for one year, with the possibility of renewal for another two years. After five years, you can opt for permanent residence.
The main aspect of this visa is the inability to work. However, contrary to what many think, it is not necessary to invest in the country to obtain it.
Criteria for the Retirement Residence Visa in Spain
To apply for the retirement visa in Spain, you must meet certain requirements. Let’s review the main ones:
Proof of Income
You need to prove a monthly income of 400% of the IPREM (Public Indicator of Multiple Effect Income). In 2024, this amounts to 2,400€ per month. For each dependent, add 100% of the IPREM (600€). Therefore, a couple would need to prove 3,000€ per month.
How to Prove Income for the Retirement Visa in Spain
Show that you have the necessary resources by demonstrating regular income, such as pensions or savings. Provide a bank certificate or bank statements from the last six months. The documents must be apostilled and, if from Brazil, sworn translated into Spanish.
Private Health Insurance
You need to obtain private health insurance from an insurer authorized to operate in Spain. The policy must cover all risks insured by the country’s public health system, with no co-payment or waiting period.
European Citizenship and Retirement Visa
European citizens do not need this visa. Bilateral agreements on pensions in Spain indicate that if you have European nationality and have fulfilled the mandatory contributions, you will not need a visa.
Assistance to Apply for the Retirement Visa in Spain
The process can seem complicated, but a specialized lawyer can help. They know the Spanish legislation and can make your application more secure and straightforward. We recommend the assistance of the Madeira da Costa Law Office.
Required Documents for the Retirement Visa in Spain
Apply for the visa at the Consulate corresponding to your residence. Organize the documentation and schedule a visit to present the application. Required documents include:
- Passport with a minimum validity of 1 year
- Recent color photograph with a white background
- Criminal record certificate
- Medical certificate
- Health Insurance in Spain
- Proof of sufficient income
- Proof of residence
- Application forms and payment of residence authorization
How to Obtain the Retirement Visa in Spain?
Where to Apply?
Submit the documents at the nearest Spanish Consulate or Embassy.
How Much Does It Cost?
The visa costs 80€, according to the Ministry of Foreign Affairs.
How Long Does It Take?
The analysis time varies, but it is estimated to be about a month. Apply for the visa at least three months in advance.
Validity of the Visa
Initially, the visa is valid for 90 days, allowing entry into Spain to request the Residence Authorization. After that, you have one month to obtain the Tarjeta de Identidad de Extranjero (TIE), which is initially valid for one year, with the possibility of extension.
Bringing Family with the Retirement Visa
You can bring your family members by proving additional means of subsistence. The required amount for each family member is 600€ per month. Provide documents that prove the degree of kinship and economic dependence.
Working in Spain with the Retirement Visa
It is not possible to work with this visa. It is specific for those who do not wish to engage in professional and economic activities in Spain.
Applying for Citizenship by Residency with the Retirement Visa
The retirement visa allows you to apply for Spanish citizenship after two years of legal residence, thanks to the historical and cultural ties between Spain and Ibero-American countries.
How to Prepare to Apply for the Retirement Visa in Spain?
Ensure that all your documents are in order. Consider the assistance of the Madeira da Costa Law Office to avoid problems and ensure an effective process.
Is It Worth Living in Spain with the Retirement Visa?
Yes. Spain offers excellent quality of life, good public health conditions, and enchanting landscapes to enjoy your retirement. With the help of specialized lawyers, the process becomes more secure and straightforward.