People who want to retire to Spain must know they do not have a specific visa they can apply for. However, the alternatives are quite appealing, as they are two. These are the non-lucrative residence permit and the golden visa.
Below, our immigration lawyers in Spain explain the procedure through which you can retire to this country for each visa category. We will also help you choose between the two types of visas based on your preferences.
Spanish retirement alternatives for foreign citizens
When discussing the possibility to retire to Spain, they address non-EU and non-EEA citizens. EU citizens can move and apply for Spanish residency directly. Returning to the options for other applicants, we have:
- the non-lucrative type D residence permit;
- the golden visa.
Each has its own requirements, with the mention that to obtain a Spanish golden visa, the financial requisites are higher.
You can obtain a personalized consultation that helps you choose the right visa for you or for you and your spouse from our Spanish immigration lawyer.
How to retire to Spain based on a non-lucrative visa
As its name says, the type D non-lucrative visa does not allow the holder to work in Spain. This is also the main reason that makes a good choice for those who want to retire to Spain.
If you are considering this option, here are the main aspects to consider:
- this type of retirement visa allows you, your spouse/partner, and any dependent children/parents to lawfully reside in Spain;
- you will be issued a one-year residency card that can be renewed for another 2 years;
- after these 2 years, you can renew your visa for another 2 years, bringing your total stay in Spain to five years, thus qualifying for permanent residency.
The main condition to meet for Spanish retirement this way is having sufficient money to sustain your stay here. The amount is calculated based on the national minimum monthly wage. Our lawyers will help you determine the necessary amount, depending on the number of persons emigrating to Spain.
Documents required to retire to Spain through the non-lucrative visa
Here are the main papers you need to have at hand when filing for a type D visa for retirement to Spain:
- the visa and non-working resident visa application forms;
- valid passport;
- passport-sized photograph;
- the application form for a residence permit;
- proof of financial means (bank statements from the last 3 months, most recent tax return, retirement account disbursements);
- notarized declaration stating that you will not work while in Spain;
- a letter of termination from the previous employer (for those under retirement age only).
- proof of accommodation for the first 3 months;
- valid health insurance;
- health certificate;
- clean criminal record;
- visa and residence permit payment fee receipts.
You can rely on our immigration lawyer in Spain for assistance in gathering the necessary documents.
How to retire to Spain as a golden visa applicant
The golden visa is another option enabling you to retire to this country. This option, however, comes with specific conditions, such as investing in Spain. For retirement purposes, the main options are:
- bank deposits;
- real estate acquisition.
Each of them has specific financial requirements, which is why you should consider your options carefully.
The golden visa is often chosen by those who want to immigrate to Spain from the USA.
Retirement statistics in Spain
According to recent data:
- at the end of 2023, there were 9.68 million seniors living in Spain;
- by 2027, the retirement age in Spain is set to reach 67;
- by 2072, the number of people over 65 (the retirement age) will reach 8.7 million in women and 6.8 million in men.
Our lawyers are at your disposal with solutions enabling you to secure a nomad visa for Spain. Provided you decide to remain here, you can rely on us for support in applying for Spanish citizenship. Feel free to contact us for guidance in retirement and other immigration matters.