Worried you don’t have enough income for getting a NLV? We can help…

Spanish Visa

Non Lucrative Visa Spain

The Non Lucrative Visa is proving the most popular route for Britons to move to Spain after Brexit. This visa does not require you to spend a certain sum of money on a property (or even buy a property) and the process is becoming gradually more streamlined. We have dealt with over 70 applications for this visa since early 2021 and there are increasing numbers in the pipeline.

Meeting the minimum income requirement

Apart from the unfamiliar paperwork (which we can help with), one of the most common questions revolves around the minimum income requirement for this visa. But it might not be the hurdle you have feared.

Principal applicants are expected to prove an income of around £2,000 per month; with another £500 for any spouse or dependent. With this visa designed for people who are not working, you might worry that your income will not meet this, such as your monthly pension sum. But the good news is that the Spanish Consulates can be receptive about seeing other forms of income or potential sources of funds, as we are discovering whilst dealing with recent applications.  Here are some things to consider:

Ownership of a Spanish property

If you have purchased a home in Spain you can show the title deeds as proof of ownership – the fact that you will not be paying rent on a property lowers your living expenses.

Rental income from a UK property

Maybe you have a buy-to-let home in the UK or are renting out your British home whilst you live in Spain. Show proof of this regular income (bank statements and lease contract) to demonstrate this.

Parents with a Spanish home

Many people follow their family to Spain. If your parents, children or other close family or friends own a property there already they can act as guarantors – promising to help cover your living expenses if needed, in a notarised document.

Pension pots, dividends and other funds

Whilst you might show proof of the pension income you are currently receiving, maybe you have another pension that you are not touching yet?  We have seen that pension pots and other assets such as bonds, ISAs, and dividends could be considered.

Credit cards

If you hold a credit card with an unused limit of £5,000 or £10,000, for example, this can also be viewed as a route to funds, if needed.

S1 form – for pensioners

If you are in receipt of a UK state pension, the S1 form offers you access to Public Spanish healthcare on the same basis as the Spanish; saving you the price of a costly annual private healthcare insurance policy. But beware you will need to get cover for the one/two-month interim period when you first arrive in Spain and are awaiting your TIE card.

Finally, but equally as important…

So far, the most common reasons that applications might occasionally be rejected is that applicants do not offer sufficient proof that they have ceased to be employed – in the form of a P45 document; or that one of their documents is unacceptable – typically expired. We can assist in advising how to best avoid this but do bear in mind that if delays in processing are beyond your control (there has recently been some industrial action amongst consulate staff), then it’s worth asking for some leeway at your in-person appointment but we can typically have new documents, legalised and sworn translated in a couple of weeks.

If you’d like to find out more about any of these, please contact Sun Lawyers.

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