What is a Non Lucrative Visas for Spain? Who is granted it and who isn’t?
In the first instance who is the first person to be granted a Non Lucrative Visa for Spain? Non-profit residency is given to someone who, in addition to other criteria is financially stable.
A sufficient economic capacity, however it is important to keep in mind that this capacity doesn’t have to be obtained, at a minimum not entirely directly from work.
It is a common error, when a person is able to access his money solely and exclusively through an occupation that is derived from being a manager in the company, and not that is an employee regardless of how much the potential for the financial capacity, it will not make sense to get this kind of home.
Why?
The reason is simple This is because it is assumed that if a person who is in Spain ceases to receive that income, then it will be denied. Additionally this is a common error with this type of residence, made by the majority of applicants.
It takes time to issue a Non Lucrative Visa Spain
It is the quickest residences available following the Golden visa. This kind of residence usually does not take longer than a month. And it is even the majority of consulates, when the documents prove that it’s true The consulate will either keep the passports or ask to leave the passports for delivery within the next week, or two weeks or at maximum, twenty days with the national residence visa that was issued.
A Non Lucrative Visa for Spain is among the fastest ways to get a residence permit.
Economic capacity to Non Lucrative Visa for Spain. Funds source
Economic capacity, also known as the economic capacity that is maintained, is determined using the use of a specific formula. This is known as the IPREM which is set every year by the government in Spain.
It is the IPREM is the measure of the cost of living and the IPREM at the end of 2020 stands EUR 537.84 that is, EUR 538.
This IPREM multiplied by four times is the amount a person must receive each month or its equivalent annually in order to be eligible for this kind of residence.
This is the procedure that is what the Spanish administration has set up so that people can be granted the Non Lucrative Visa for Spain. Each additional member will be the IPREM. That is, an extra EUR 538 every month. Or the equivalent annually, roughly EUR 6,500 per year.
This is the way that is what the Spanish administration has established that a person or family has to earn to be eligible for this kind of Non Lucrative Visa for Spain.
EUR 266,000 to the initial person. EUR 6,500 more for each family member. This means that you should earn at least €2,747 per month.
Furthermore, as we’ve earlier stated, it is not possible to be said that the money comes entirely and exclusively from a directly attributed job to the person who plans to make the request.
This is the most important prerequisite to be able to apply for a Non Lucrative Visa for Spain.
It is also important to bear in the mind that there are some countries like Morocco or Algeria where the government is not able to let money be taken out of the country.
How does the Spanish state decide if the person is able to stay in Spain in the event that you earn this amount of money and are unable to move to Spain?
The formula that is used in these instances the cases of Morocco or Algeria will be that there is money, or a portion of it or a portion of it is held stored in a banking institution or country within an investment fund which is not the country in which the individual is, and stops money from leaving the country.
This means that someone who is, for instance, living in Morocco or Algeria is earning. If you’ve got a part of the cash you’ll need to start your maintenance at an institution outside of the country, and also in an area that permits the transfer of money to Spain the next time, there’s no issue.
It is a requirement that a single individual should possess at minimum EUR 26,000 in their account, and must have an account in a foreign bank outside of the country, during the initial year of maintenance on this Non Lucrative Visa for Spain.
regardless of whether you are earning a monthly or annual income , which we were discussing earlier.
For instance, if there are two persons and rather than EUR 26,000, we’re speaking of EUR 32,500. To qualify, they need to have an account in a bank outside of the country. For the initial year of the Non Lucrative Visa for Spain They must be in a position to be accessible and to be located in the country that has no issue with money being transferred out of the country.
It is assessed correctly or more positively , to grant Non Lucrative Visa for Spain in the event that the money is stored in the local bank of a Spanish locally-owned bank.
Opening bank accounts in Spain. Common mistakes
In Spain it isn’t possible to open a bank account that holds significant amounts, like the one we’re discussing without signing a procedure with the bank that will handle the funds will be put into it to be deposited for the Non Lucrative Visa for Spain. It is essential to notify the bank of the source and the source of funds, its purpose and the reasons for its use. in order to avoid any problems. done so it will be difficult for the bank to open the account, or when it opens and the money is then deposited your account could be closed with the funds deposited.
Even though the branch has no authority to authorize deposits like this It is a separate department within the bank that has been specialized to deal with the issue.
It may seem a bit difficult however, it’s not for us. We’ve done it for a long time, we are able to have the accounts open and functional on the same day, which includes opening accounts to purchase real estate properties or houses that exceed 500 000 euros to invest in homes, or Golden Visa homes.
If we follow them in conjunction with the right bank and its headquarters we’re working with, we’re not going to face any issues and, in actuality we have all the banks we’ve worked with for a long time and we are familiar with the way they operate and what they require of us. We have an excellent experience and we have no issues in opening accounts for applying in Visas for the Non Lucrative Visa for Spain.
These are processes that for those who aren’t experienced might seem unclear but aren’t for us because we’ve already had experience.
Health insurance
The only medical insurance a person must have is a medical insurance policy that may cover you or to cover dental, medical or dental. however it happens to be, not just in emergencies.
It is a common mistake made by applicants applying to apply for a Non Lucrative Visa for Spain to show medical insurance from the same company that typically covers visas. It is a mistake. The medical insurance we’re discussing isn’t an insurance for medical purposes like Visas, Visa health insurance is designed to cover the event of an emergency, or covers every eventuality.
The medical insurance demanded, and which has to be sought out in order to qualify for Non Lucrative Visa for Spain Medical insurance will provide you with any medical aid regardless of the type and with no co-payment.
It is important to be aware that there is there is no copayment is required.
These are typical mistakes which can lead to an No Lucrative Visa for Spainapplication in Spain to be denied.
However however, there are some companies that specialize in this kind of insurance for foreigners , and particularly non-community foreigners who are very agile and are available in all languages 24/7 and have a wide range of health and hospital insurance as well as create the required certificates in a proper manner and in a timely manner. Additionally, the rates are extremely affordable and are in line with the norm.
It is also crucial that the insurance you purchase is sufficient to be able to get a Non Lucrative Visa for Spain.
Medical certificates. Common mistakes
Medical certificate, medical center or a physician who is recognized by the Consulate. we’ll present the documents for obtaining a Non Lucrative Visa for Spain First, we must provide the certificate of medical necessity.
We are not able to provide any medical certification from any medical facility or any physician, but only certified doctors and the medical centers that are authorized by the Consulate specifically where you can present the document, this is extremely important.
Another important requirement to be met, namely the certification that the individual does not suffer from a contagious illness with regard to the international standards of 2005. It is simply the words, signatures and stamps. This is enough for the medical certificate to be used for us, and is of course the reason we’ve stated that the center or doctor physician is acknowledged as a consul.
However, we could also make a mistake and that is not in the best interest of us. The mistake is that the medical certificate needs to have been authenticated through the Consulate, or be in the absence of an Apostille that is issued by The Hague depending on the country in which it is issued. Non Lucrative Visa for Spain is submitted.
Approval
The process for obtaining this kind of Non Lucrative Visa for Spain is not longer than a few weeks, and does not exceed one month. Actually, the majority of consulates keep their passports until the moment they receive the paperwork in order to issue the visas on passports.
When you have received your Non Lucrative Visa for Spain is approved, they will communicate the approval to us via telemetically. they also inform the customer, usually via telephone. It should be taken into consideration that these phones have to be always operational and the phones included on the forms. And after they have visited the consulate they take the passports and have the appropriate stamps on the visas. They have 90 days to travel to Spain to register their fingerprints with the Police Department.
Fingerprinting
We have received the letter of approval. We are asking for an appointment with police department to collect the fingerprints.
The process of taking fingerprints to apply for a Non Lucrative Visa for Spain is straightforward; you simply must bring copies of passports along with fees and pictures.
We always accompany the person who is taking the fingerprints when the fingerprint is taken, the documents are obtained, and the police have their approval in their database. You don’t need to carry any document, they already have on the system’s computer. Once it is there, within about 20 days, the card will be collected.
This is a simple procedure.
García de Ceca | Despacho de Abogados
C. de Carbonero y Sol, 1, 28006 Madrid, España
+34 633 888 618
garciadececa.com
