Often asked: Retirement Visa Spain?

Spain’s Non-Lucrative Visa allows non-EU citizens to live in Spain provided they are able to support themselves financially. It is used by those planning to retire to Spain and is an option for British retirees and other people who do not plan to work in Spain now that the UK is no longer a member of the EU.
Retirement Visa Spain. The Spanish retirement Visa is commonly known as the Spanish non-lucrative Visa. This visa is issued to non-Spanish citizens who have reached the retirement age but have no intention of working in Spain. By possessing the Visa, you can only work remotely with your own business or with clients who are not based in Spain.

How do I get a retirement visa for Spain?

What Are the Requirements for a Spain Retirement Visa?

1. Must apply in person in the Spanish Consulate of your home country.
2. Be over 18 years old.
3. Documented proof that you have sufficient financial means to support yourself, and any accompanying family, to live in Spain without working.

How much money do you need to retire in Spain?

How Much Income Do I Need to Retire in Spain? The cost of living in Spain is low. It’s entirely possible to retire comfortably in Spain on around $25,000 a year. Depending on where you live and your lifestyle, this can go down to $20,000 a year.

What do I need to retire in Spain?

Spain imposes no in-country stay requirement for Golden Visa residents. However, you must renew your residency after the first year and then every two years until you apply for permanent residency. After you have received permanent residency, you can sell the property you purchased to qualify for Golden Visa status.

How long can you leave Spain without losing residency?

One of key differences is that a temporary resident is eligible to leave Spain up to six months in any 12 month period without it affecting your status while if you are a permanent resident the withdrawal agreement means you can be absent for up to five consecutive years without losing your rights to residency in Spain

Is retiring to Spain a good idea?

Retiring in Spain is a very good idea. Spain has many great benefits for expats retiring there such as a low cost of living, a great climate and excellent affordable healthcare. All of these benefits give expats retiring in Spain a very high quality of life.

How much money do you need in the bank to get residency in Spain?

Minimum Income / Funding Amounts for Spanish Residency So for a family of 5, the main applicant has to have a bank balance of €19,625.48, or an annual income equal to that amount.

Can I still retire to Spain?

If you wish to stay longer than 90 days you will need to get a visa appropriate for the purposes of your stay in Spain. Thus Brits wishing to retire to Spain will generally need to apply for a Golden Visa or a Non-Lucrative Visa if they wish to stay long term in Spain. You can work remotely for a company outside Spain.

Is it cheaper to live in Spain than England?

Spain has always been well known for generally having much lower living costs than the UK. According to Numbeo, the overall average cost of living in Spain is 18.2% cheaper than in the UK as a whole. One major area contributes to this fact, as rent is on average 33.19% lower in Spain than Britain.

What’s the retirement age in Spain?

Pension age in Spain As of 2020, it stands at 65 years and 10 months. However, it is still possible to retire at 65 years if you have paid 37 years of social security contributions.

What are the pitfalls of buying property in Spain?

5 common pitfalls when buying a property in Spain

• Not having your registrations in place before the buying process.
• Insufficient property research.
• Not accounting for all of the costs involved in buying a house.
• Not understanding your contract(s)
• No preparation for future fees.

Is buying property in Spain a good idea?

However, despite the rising prices, Spanish property is still very good value for money when compared to buying property in the UK and many British buyers are looking to invest now whilst there are so many good properties bargains available.

What is the cheapest area in Spain to buy property?

The cheapest places to buy in Spain

• Almería. Almería is often overlooked by international home buyers, which is a shame as it’s charming and very affordable.
• Castellón de la Plana. Castellón de la Plana, or Castelló de la Plana in Valencian, is a medium-sized city of around 170,000.

Can I get residency in Spain if I buy a house?

If you buy property in Spain you can get a Spanish residency permit (this is the correct bureacratic terminology for Spain’s golden visa), which allows you to live in Europe. The only challenge is the paperwork, and you must invest at least 500,000€.

How long does Spanish residency last?

The permanent residency is the status that enables non-EU citizens who have been living in Spain continuously and legally for 5 years to obtain an indefinite residence situation. This residency card is valid for five years and can be renewed.

What happens if I overstay in Spain?

Any stays beyond the 90 days in any 180-day period will be dependent on the applicable visas and immigration rules for Spain. This may require applying for a visa and/or permit.” “The FCDO is not able to comment on Spanish immigration policy.