Spain has for countless decades been the first choice for many British nationals wishing to relocate overseas in their retirement years. In many cases, Spain has been their holiday destination for some time, drawn by the climate, culture and cuisine. Spain's affordable lifestyle makes it all the more attractive to consider, especially following the rise in the cost of living in the UK. The most suitable visa for retirees to apply in light of the changes to the Golden Visa is a Non-Lucrative Residency Visa which is aimed at foreign nationals who have retired or applicants who do not intend to work in Spain.
There is the additional benefit of a Non-lucrative visa of allowing free travel throughout the 26 countries within the Schengen Area where all border control including passports, at their mutual borders, has been abolished.
Sergio Filonenko Kibu an associate commented "Since the UK took the Brexit option, British nationals are regarded as non-EU nationals. The non-lucrative visa is designed for non-EU nationals who wish to live in Spain provided that they do not accept a job or work in professional activities." Sergio further points out that there are several key benefits, including residency rights, access to Spain's public healthcare system, and the possibility of long-term settlement."
The Non-Lucrative Visa is initially for one year with the opportunity to renew for periods of two years, it is regulated by Spain's Immigration Law (Ley de Extranjería). There are requirements that must be fulfilled and documents that must be presented with the application to enable the visa to be granted:
- A valid passport.
- You must be able to demonstrate payment of the visa application fee.
- Completion of a national visa form and EX01 form.
- Proof that you do not have a criminal record.
- You must have comprehensive private health insurance with a company authorised to operate in Spain.
- You must also provide a medical certificate, issued at least three months before submission of your visa application. The certificate must comply with the International Health Regulations.
- Form 720-052 must be completed together with payment of the application fee to permit temporary authorisation for residence.
- You must have evidence that you have sufficient funds to support yourself for one year. €28,800 per annum is considered appropriate, which could derive from investments or a pension.
All documentation that is in English will require translation by an approved translator and may require notarisation or an Apostille under The Hague Convention.
After five years of residency under the non-lucrative visa, retirees can apply for permanent residency, which grants broader rights, including work authorisation if desired. Following ten years, naturalisation as a Spanish citizen may be possible. It is possible to include spouses and dependent family members under the non-lucrative visa on the provision that they too do not undertake any work and the applicant can demonstrate that they have sufficient funds to support them. Once the application has been approved the applicant must collect their residency card (TIE) in Spain.
Whilst Spain's non-lucrative visa is an excellent pathway for British retirees, leading to a fulfilling and legally secure retirement abroad. It may not be an entirely smooth route and it is keenly advised that the advice and guidance of an expert lawyer is sought before making your application as this could play a crucial role in ensuring a smooth transition. The implications of dual taxation treaties between the UK and Spain should be addressed, England and Wales residents are subject to specific inheritance and tax rules, which could differ significantly when residing in Spain
Giambrone and Partners' lawyers specialising in cross-border immigration offer peace of mind by reviewing all your documentation and your application to ensure that there are no omissions or errors. Our lawyers have successfully overturned negative decisions and obtained a non-lucrative visa for our clients.
Sergio Filonenko Kibu is an Abogado (qualified Spanish lawyer) and is admitted to practise in England & Wales as a Registered Foreign Lawyer (RFL). He is an associate based in the London office.
Sergio assists commercial clients with a range of contentious and non-contentious matters. He is a highly regarded, astute lawyer advising on challenging cross-border disputes, including debt collection, contractual disputes and breach of contract. Sergio advised on a complex high-value international financial disputes across several jurisdictions. He also assists businesses with drafting shareholder agreements, share purchases, mergers and acquisitions and security agreements.
Sergio has extensive experience assisting high-net-worth individuals with the acquisition of real estate, both residential and commercial, in excess of €10 million across the globe. Sergio's meticulous due diligence, with regard to large commercial real estate transactions, ensures that the investment is sound and also limits the exposure to risk, providing an outcome in line with the clients' objectives. He is also able to assist with regulatory issues surrounding such investments.
He aso leads the Ukrainian division and is assisting Ukrainian clients with immigration applications for visas for Ukrainians with family members in the UK, as well as applications for visas for Ukrainian citizens wishing to join their relatives in Italy, Spain, and Portugal. Sergio will guide the applications working closely with each country's government department to accelerate the visa applications.
Furthermore, Sergio can advise private clients on inheritance, drafting wills for foreign nationals with overseas assets including Spanish real estate, he can also assist with probate and inheritance disputes. Sergio also advises on cross-border divorce, establishing the financial and child arrangements. With regard to criminal defence Sergio has assisted British nationals arrested in Spain for various offences.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
