What happens when you have lived in Spain with the Non Lucrative Visa and you want to renew it? This is a question that comes up many times on our Move to Spain Facebook group. So, in this blog post we thought we´d take the time to talk about Non Lucrative Visa Renewal in Spain.
What is the Non Lucrative Visa in Spain?
Taking a few steps back, the Non Lucrative Visa (sometimes abbreviated to ´NLV´) is the retirement visa for Spain. It´s a visa for people of any age who want to come and live in Spain. However, it does what it says on the tin, you can´t do actual work. However, passive income like, for example, renting out a property, a pension, interest on savings, or dividends is allowed. If you are doing actual work remotely in Spain then you will need the Digital Nomad Visa, again sometimes abbreviated to ´DNV´. There are of course many other visas available in Spain.
How to Renew the NLV in 2024
The Non Lucrative Visa renewal period in Spain is for 2 years. You can´t renew the visa for 1 year. For the renewal, you need to show that you have an income of 28,800 euros a year. However, if you are relying on savings you will need to show double, so 57,600 euros. Or you can mix and match. This article was written in 2024 and these figures are liable to change.
Remember that in the first year, you will need Spanish private health insurance. In year 2 you have the option to continue or pay into the Spanish system this is called convenios especiales. At Just Law Solicitors we work with a health insurance broker who can give you a quote
The Long Term Outlook
Once you have lived in Spain for 5 years you can apply for permanent residency, or you can continue with the non lucrative visa.
As always don’t take this as legal advice. If you are moving to Spain, get in touch with a regulated, insured, qualified Spanish lawyer. At Just Law Solicitors we can advise on property purchases, as well as Spanish tax and accountancy.
Just Law Solicitors
Malaga – Fuengirola – Marbella and online
Your lawyer in Spain since 1992
John Towell LLB (Hons) Director of Legal
📞WhatsApp +34 663 373 535
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