It’s an established fact that Spain is among the most sought-after destinations for people looking to live their final years enjoying the sunshine.
With the combination of stunning year-round weather, gourmet delights along with a rich and diverse culture, as well as the more laid-back lifestyle, it’s not difficult to understand why so many retirees turn to Spain as a possible destination for their ideal retirement overseas.
However, don’t take our word for it! Our opinions are also confirmed by numerous surveys such as the International Living 2022 Annual Global Index which placed Spain in the 9th spot of the top destinations for retirees.
Many have mentioned the increased safety aspects of living in this area with the top-of-the-line healthcare services that are offered.
This is fantastic, but who is able to legally retire here? And what are the conditions to retire?
We will explain all you should know about retirement visas for Spain as well as the most frequent concerns such as:
Which is the retirement Visa for Spain?
Who is eligible to apply for the visa?
What are the advantages of the benefits of a Retirement Visa Spain?
What are the conditions to obtain one?
What is the length of time that retiree visas are valid for?
How do I apply for retirement visas?
Plus many more..
Let’s take a look.
Do I require a visa to reside in Spain?
If you’re from the EU The positive news is that you don’t have to apply for an entry visa. You are free to reside, work and learn in Spain almost without restriction, subject to a small application.
However, if you’re of within the UK or another country that is not a member of the EU You will be restricted by the length of time you are allowed to spend in Spain without requesting the residency visa.
As of now, this is 90 days over a 180-day timeframe. If you exceed 90 days, then you’ll have to obtain the appropriate visa for your particular situation in order to become a permanent resident.
What is what is a Spanish retiree visa?
Retirement visas are a residence permit for citizens of third countries or non-EU countries who would like retire to Spain.
It’s commonly known as”the “Non-lucrative Visa” or “Investor Visa” and allows the holder to reside in Spain for a short period of time. It’s crucial to keep in mind that retirement visas do not allow you to perform any business-related tasks in Spain as well as its related territories.
It is granted for a time of one year. It can be renewed for an additional two years. Then it can be renewed for two more years.
After this initial five-year time frame following this initial five-year period, you’ll then be qualified for permanent residence in Spain.
After you’ve lived in Spain for a minimum of 10 years, you’ll be eligible to apply to apply for Spanish citizenship, though it is not a prerequisite.
Who can be eligible for Spanish retirement benefits?
This retirement permit is available to those who would like to reside with their families in Spain longer than 183 consecutive days during the year however, they do not have to engage in any business or work-related activities in Spain or in its territories.
Required Income
In order to get the retirement visa, you’re not allowed to work. It’s crucial to show that you’ll have enough income to pay for you and your family members and that you don’t be reliant to government assistance. Spanish state for help.
This implies that you’ll need an income that is regular through an investment return or pension such as in the case of a landlord.
How much income do you require?
The amount you have to show is determined by the IPREM, also known as “Indicador Publico of Effectos Multiplicas”. The IPREM is determined by the government every year, and is a reference number used to grant benefits or subsidy.
In 2023 for 2023, for 2023, the IPREM has been set for 2023 at EUR579.02 per month, or EUR6,948.24 annually. In order to qualify for the retirement visa you must earn an income that is four times the annual IPREM. That would translate to that you earn EUR27,936.96.
For every additional family member 100 percent from the IPREM is required. This is in 2022 EUR579.02 per month or equivalent amount in the foreign currency.
A couple who is retired would have to prove with bank statements showing that they earn the income EUR34,885.20 per year, or EUR2,907.10 per month.
Health Insurance
The only requirement for obtaining an retirement card in Spain is to have a valid individual health insurance coverage to protect you and your family members.
The policy should be issued by an Spanish insurance company and provide complete coverage without co-payments.
Another requirement is that you present an official medical certification to verify that you don’t suffer from a condition or disease which could affect the public health in any way.
It is important to note that many official documents need to be legally translated and signed by an notary. For more information and a list of documents that require legalisation look up this page of the Spanish Government’s Legalisation and Apostille webpage.
Criminal Background Checks
Anyone who is legally aged must submit an authentic criminal background check certification from their home country . It must include the past five years. Certificates should not be older than 3 months.
Documents should also be legalised or apostilled and must include an official translation into Spanish. The translation must be done by a certified translator or interpreter registered in Spain.
For UK citizens for UK citizens, the ACRO Certificate must be used.
What are the advantages?
Ok. Now you might be asking about the benefits in obtaining a retirement permit in Spain.
First of all, you won’t be detained! It’s legal to obtain a residency permit when you’re a non-EU/third country resident and are in Spain for longer than 90 days within a 180-day timeframe.
The following are the major benefits of obtaining a retirement visa
The Schengen Area’s 26 nations
Your children and spouse could be with you.
You can be working for companies or clients from outside Spain
The visa lasts for one-year period, but it can be renewed for an additional four years, at which point you could be eligible for permanent residency.
What are the criteria to get a retirement Visa?
The primary requirements are that you reside at least in Spain during at minimum 183 consecutive days throughout the year. You cannot be employed here or performing jobs for Spanish clients, although you can do remotely-based work with clients that are outside of Spain’s territory.
What are the steps to apply for retirement visas?
All visa applications must be made in person to the consular offices in the country you reside in. A person who is accredited may apply for the visa on behalf of the applicant when they possess a the power of attorney.
In order to submit the application, you’ll have to schedule an appointment with the consular office through email.
The subject line for your email should reflect the kind of visa that you’re applying for.
The email should include the following:
Your surname and given name
Passport number
Email address
Telephone number
The place of residence is in the UK
Type of residence visa that you are looking to apply for
It is important to note that an appointment is required in order to be able to see EACH applicant. This applies to minors as well.
Once your application is accepted after which you will be issued with login credentials so that you can access the status of your request online.
How long will the application process last?
The typical time for receiving a decision within 10 working days but this can be extended if required to submit additional documents.
The visa application is required in the space of one month.
When your request for retirement status is denied You will be notified in writing detailing the reasons the reasons for why it was denied. You are able to appeal within a month of receiving the decision.
What are the length of time the visas are valid for?
Every retirement card is good for 1 year.
After the first year, you are able to renew for another two years. Then you can renew for two more years. Permanent residency can be sought after you’ve been living in Spain for five or more years.
García de Ceca | Despacho de Abogados
C. de Carbonero y Sol, 1, 28006 Madrid, España
+34 633 888 618
garciadececa.com
