QUICK SUMMARY ON retirement in spain
Spain Retirement Visa Key Summary:
The Non-Lucrative Residence Visa is often called a retirement visa, as the visa does not allow you to work or conduct any economic activity. But, the Non-Lucrative Visa is a long-term stay visa that allows you to live in Spain without an age limitation. If you meet the minimum passive income requirement of €25,560 annually, you have a path to legally stay in Europe long-term.
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Quick Facts On Retiring To Spain
Watch Out For Foreign Exchange Fees. The best way to save money in Spain is by using Wise to transfer money and make payments in Euro. Wise offers you the best exchange rates and lowest bank fees.
Do Get Travel Health Insurance. Your home insurance will not cover emergency healthcare overseas, but you can find affordable travel insurance for less than $50 that will cover your medical bills in Spain.
Do learn some basic Spanish phases. 22% of Spanish people speak English. Learning some basic Spanish language helps. Get a FREE Language Lesson using the same learning technique used by the US State Department, FBI, and overseas military.
Be Careful With Expat Taxes. Spanish authorities may consider you a tax resident after 183 days in Spain. Get a FREE consult with an expat tax specialist to understand how taxes in Spain can impact you.
Are you ready to Retire Early? Ready to dip your toes in the warm water of the Mediterranean? Or sip refreshingly boozy sangrias in a cosmopolitan European city? What about enjoying a mid-day siesta in a charming Old World villa? Spain offers warm sunny beaches with the ease of developed European infrastructure and a surprisingly Low Cost of Living. The entire region is a dream destination for early retirement and Spain's Non Lucrative Visa is how to make it happen.
RELATED POST ON EXPAT RETIREE LIFE IN SPAIN
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The 2nd largest country in Southern Europe, Spain has a vast changing landscape. There is the natural beauty of the Costa Del Sol Mediterranean beaches, Sierra Nevada mountains, and the Northern vineyards along with the rich culture, arts, and social nightlife you would expect from major European cities. High-speed train and bus routes crisscross Spain to allow for easy exploring and intra-country travel. From Madrid, you can swim on the southern coast in four hours or enjoy tapas in Barcelona in three hours. Madrid and Barcelona are the main airports connecting Spain with the rest of Europe and the World.
What Visa Does an American Need To Visit Spain?
If you are from the United States and Canada, you can enter Spain Visa Free. Spain is part of the Schengen Agreement allowing short-term stays for up to 90 days out of every 180 days. That is 90 days for ALL the 26 European countries that comprise the Schengen Area. There are no renewals or extensions allowed. You can stay for 90 days, but then you must leave the entire Schengen area for 90 days before you can return.
How Can A US Citizen Legally Stay Long Term in Spain?
This short-term visa works if you want to travel through the cities and get an idea of where you’d like to live long-term. Once you chose a city right for you, you must obtain a long-stay visa from the Spanish embassy of your HOME country. You cannot apply for a Spanish Retirement Visa while you are in the country.
For people working toward Financial Independence and Early Retirement, residing in Spain can help accelerate those goals. If you have passive income sufficient to support yourself and your dependents, you may apply for a Non Lucrative Residence Visa. As this visa does not allow you to work in Spain, your income must come from passive sources: investments, rental income, annuities, retirement pension, etc.
Another way to stay in Spain is if your partner is an EU citizen, then a partnership visa might be your ideal solution. I have a detailed article on the Unmarried Partnership Visa for Spain here.
RELATED POSTs ON SPANISH VISAS
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INSIDER TIP : Bank Accounts In The US: Some banks in the US will not allow you to keep an account open if the bank knows you are living outside of the United States. One work around is to keep a US mailing address by using a friend's or family's home address. A more convenient option is to use a virtual mailbox.
Can A Brit Retire To Spain After Brexit?
Yes, citizens of the UK can apply for a Non-Lucrative Visa and retire in Spain. The rules that changed after Brexit only meant you lost the special privileges EU citizens enjoyed.
Post-Brexit, British expats now have the same rights as other 3rd country nationals: US, Canada, etc. UK citizens can follow the same retirement visa and residency process detailed below like other non-EU citizens.
INSIDER TIP : Moving Costs- Between customs, freight, packing costs, and ground transportation, figuring out how to move your stuff overseas can become complicated. Partner with a certified international moving expert to ensure competitive rates and no hidden fees.
What Long Does It Take To Process the Visa Application?
Your visa can take between 3-weeks to 3-months or more to process. Three key factors determine the processing time.
- Is your application missing any requirements? This is the biggest delay. If you are missing any documentation, the Consulate will request additional information. More information means hunting for the requested info, getting another apostille, and certified translation. You must submit all documents in person, which means making another appointment. Meanwhile, your application sits there in limbo.
- Is the local Spanish Embassy or Consulate you are assigned a popular one? If the Consulate has a backlog of applications, your visa application is another one in the pile.
- What mood your Visa Administrator is? Your contact at the Consulate has the power to make the application process a nightmare. The burden of proof is on the applicant to show they meet the requirements. If your administrator is skeptical of anything in your application, the process drags.
The last two points are out of your control. But, the first, and also the biggest potential delay is the is 100% under your control. The visa application process is a beast of paperwork. Use this document organizer to ensure you don't miss an essential forms.
Is Retiring In Spain Difficult When You Don't Speak Spanish?
Making friends and acclimating is always easier when you learn the local language. You don't need to be fluent. If you learn a few phrases, locals will appreciate the effort.
I understand more than anyone that learning a new language when you are older isn't easy. Here is the "Secret" method that the US State Department, FBI, and overseas military uses to learn new languages quickly and effectively- The Pimsleur Method
Avoid hours doing mindless repetitive vocabulary. Pimsleur focuses on quick, easy-to-digest organic learning to get you conversational as fast as possible.
What Does It Cost to Retire in Spain?
Income requirements for a Non Lucrative Visa are a relatively low ~$30,453/€25,816 annually, plus ~$7,613/€6,454 per each additional family member. These minimum income requirements covert to roughly $2,550 per month for a single person or $3,150 per month for a couple.
Assuming a 4% Safe Withdrawal Rate (SWR), you can move to Spain with a retirement nest egg of roughly $722,125.
*US Dollar amounts using estimated exchange rate of 1 EUR to 1.18 USD.
How Long Can I Live in Spain on a Non Lucrative Visa?
The Non Lucrative Residence Visa is a temporary residence permit valid for two years but is renewable, provided you still meet the financial requirements and you have lived at least 183 days in Spain each year. After five years of holding the temporary residence permit, you will be eligible for permanent residency, allowing you to live and work in Spain indefinitely. After ten years of continuous Spanish residency (five years temporary residency and five years permanent residency), you may be eligible for Spanish Citizenship.
*INSIDER TIP*: Spanish Territory Citizenship- People born in the Philippines, Andorra, Spanish-American countries (like Colombia), Equatorial Guinea, Portugal, as well as individuals with Jewish Sephardic origin, are eligible for Spain citizenship after two years of Spanish residency.
RELATED POSTs ON ExPAT LIFE IN SPAIN
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Do Americans Retiring To Spain Still Pay US Taxes?
Maybe. Even after acquiring Spanish residency or citizenship, Americans abroad must file a personal income tax return every year with the IRS.
However, Spain has a double taxation treaty with the US. To understand how to minimize your expat tax liability, speak with a tax specialist for details.
INSIDER TIP : Expat Taxes- If you stay longer than 183 days, many countries will consider you a tax resident. Being an expat may help you save money on your taxes. Talk to a tax professional to see how tax residency applies to you. I partnered with a firm specializing in expat taxes to secure a special deal for Nomadic FIRE readers.
Use the promotion code "Nomadic25Consultation" for $25 off a tax consultation to get you started.
Even better, use their experts prepare your tax return, the entire consultation is FREE.
What Are the Requirements for a Spain Retirement Visa?
Health Insurance Requirements
You will need public or private health insurance either with a health insurance company in Spain or another medical insurance equivalent to Spain's National Health System that explicitly covers you while you are a Spanish resident.
Will My Home Country Health Insurance Cover Me?
Most likely no. Most health insurance will not cover you for any injuries sustained outside your home country. You will either need to get Spanish medical insurance or Expat Medical Insurance.
If you retire abroad, expat health insurance is a more complete option. Expat Medical Insurance is the "normal" insurance you are familiar with to from home. Coverage is built for expats outside the US and insurance premiums are much cheaper than in the US.
What Documents Do I Need To Apply for A Non Lucrative Visa?
Documents, Documents, Documents. The application process to retire in Spain is a beast of paperwork. We created this FREE Document Organizer to ensure you don't miss any of the 22 REQUIRED forms.
Spanish Retirement Visa Application Forms
Home Country (US) Official Documents
Pretty much every document you submit to the Spanish consulate for your application will need a "certified translation" and an Apostille.
What is an Apostille?
An apostille is a certification that a document is “legal” or “authentic” by a Federal or State agency. Basically, it's one government (the US) certifying that the document you are sending to another government (Spain) is legitimate. After your document is apostilled, the document will be attached with an official seal. DO NOT attempt to separate the document from the seal.
For Federal documents (FBI Background Check), your document will need to be apostilled by the State Department in Washington, DC. For state level documents (state police background checks, marriage licenses, birth certificates, etc.), you must get these documents apostilled in the state they were issued. If you lived in several states in the last five years, you will need documents AND separate apostilles from each state.
What is a certified translation?
Spain is very particular about this. Any documents that are submitted in English MUST be translated into Spanish by a Sworn Spanish translator certified by the Government of Spain. The latest list of official translators can be found at the Ministry for Foreign Affairs website. Be prepared to pay between $35 to $50 per page for certified translations. This was easily the biggest expense for my application.
Note that Apostilles must also be translated, but translations DO NOT need to be apostilled. Get your documents Apostilled first, then send everything over to the translator.
Passports and Photos
Optional For Non-US citizens residing in the US: Alien Residence Card (Green-Card) or residence visa valid in the USA. Original and photocopy. Please note, B-1 and B-2 Visa holders cannot apply in the United States. You will need to apply in your home country.
Medical Documents
Additional Documentation
Required Documents for Spouse and Dependent Children of Primary Applicant
In addition to the documents above, your spouse will need a lot of the same documents you need. The easiest way to keep track of everything is using our FREE Document Organizer.
What Is Proof of Income vs Proof of Funds?
Ideally, you will have verifiable Proof of Income equal to or greater than €2,152 per month. Proving your income is straightforward if you have easily documented income: annuities, social security, state pension, etc. If you are are like me (and most early retirees), your ability to fund early retirement is through assets: stocks, ETFs, and/or real estate. You will need Proof of Funds to convince the consulate you have enough savings to support yourself.
This is where it gets tricky. The Consulate gets to decide how they want you to prove you have sufficient savings. The Visa Administrators can request more documents at their discretion, until you can prove to them that you can meet the income requirements.
I've known some people who had to show 6 months of bank statements, while I was asked to only show my most recent. I've known a husband and wife who showed a net worth of less than $700,000 and was approved. As a single person, I showed over $1,000,000 in net worth AND $1500 in monthly rental income and my Visa Administrator was still skeptical.
Can I work doing Digital Nomad, Remote, or Location Independent work while on a Spanish Non Lucrative Visa?
Short answer, no. Non Lucrative means no money. Long answer, maybe? This is another topic that is up to the discretion of the Visa Administrator. I have read about people who successfully argued that all their income came from outside of Spain, that none of their clients were Spanish, and that they had to plans to attract new clients in Spain.
I have also read Immigration Attorneys suggesting that Spanish Consulates are no longer allowing remote work on Non Lucrative Visas. The safe answer is do not count on working and prepare to show sufficient Proof of Funds.
Benefits of Retiring To Spain
Live Legally in Europe Long-Term with a Spanish Retirement Visa
Pros
Cons
Conclusions: Retiring To Spain
With no minimum age requirements, a reasonable income requirement, first-class infrastructure and health care, a low Cost of Living, and a High Quality of Life, Spain should be on the top of the list of anyone looking to Retire Early in Europe.
Retiring To Spain Key Takeaway:
Warm climate, European charm, and Low Cost of Living make Spain an ideal Early Retirement destination.
If Early Retirement is in your future, you can enjoy a European lifestyle, First Class infrastructure, and some of the best food and wine around for about 50% less than the US. In Spain, you really can have it all: sunny beaches, scenic mountains, sprawling vineyards, and sophisticated cities. And, even better, living here is a fraction of the cost of the US, Canada, or the UK. Spain has one of the lowest costs of living across all of the EU. If you’ve ever dreamed of an affordable European retirement, it's time to check out Spain.
photo credit: Miradortigre/Photopin
Resources for Working and Living Abroad
Start Speaking A New Language In 30 days
Pimsleur is the best method I have found to get to "Survival-Level" quickly when learning a new language. With Pimsleur, I can ease the stress of arriving in a new country and start speaking with people in my neighborhood. Ordering food, getting directions, haggling prices, and making friends is 10X easier when you can communicate in the local language.
Achieve better results using Pimsleur's short classes and organic learning methodology vs. the mindless repetition, endless verb conjugations, and tedious memorization of other language courses.
Transfer Money Internationally
For expats and nomads, Wise offers an International Bank account for your money transfers. It's an easier and cheaper alternative for paying your bills while overseas.
Looking to buy property abroad, Wise has a Large Transfer Rate for even bigger savings.
An International Mover You Can Trust
Suddath® simplifies overseas moving as a one-stop-shop for all your international moving needs. You will be supported by a professional, dedicated move counselor every step of the way. With an easier international relocation, you’re free to focus more on your new destination, while worrying less about the move.
Request a FREE international moving quote below.
Get Your US Expat Tax Questions Answered
US Expat taxes are the most complex in the world. However, living abroad comes with potential tax advantages, but mistakes are very easy to make. It is no wonder many expats are frustrated.
Avoid complications, penalties, and fines, Taxes For Expats is here to help.
Protect Your Health While Abroad
Your home health insurance is unlikely to provide coverage for you while overseas. Get premium health insurance designed for expats and digital nomads that protects you anywhere you are in the world, even during a pandemic.
Use A Virtual Mailbox To Keep A Permanent US Address And Receive Important Documents and Packages
Get a US street address you can use while you are overseas. Use a digital mailbox with a REAL physical location to receive mail from USPS, FedEx, and UPS.
A virtual mailbox can receive and forward all your important documents and packages, replace credit cards, maintain state residency, get checks deposited, or file business and tax applications. Prices start at $6.
Travel Tools and Resources
Skyscanner- My favorite airline search tool to find all the cheapest flights in one place.
Airport Pick-Up Service- Arrive at your destination stress-free with a private car cheaper than most taxis.
Loctote- My favorite day pack. Secure your belongings while walking around town.
First Time Moving Abroad? Check Out My Advice For New Expats
FAQs: Retiring To Spain
There is NO Spanish language requirement.
Unlike many other countries' retirement visas, Spain allows anyone over the age of 18 years old to apply. The Spanish Non Lucrative Visa ideal for Early Retirees.
After residing in Spain for 10 continuous years, you qualify for Spanish Citizenship. However, dual citizenship is only available in LIMITED circumstances. Most US citizens would have to give up their US citizenship.
To start, you will need to show:
- Income sufficient to support yourself
- Proof of private Spanish medical insurance
- Police background checks from your country of residence
Next Steps: Find out more about retiring in Spain. View my guides to the Best Cities In Spain to Retire.
Are you looking to retire to Spain? Be prepared for LOTS of paperwork. The easiest way to ensure you don't miss a form is to use our FREE Document Organizer with the 22 REQUIRED forms you need to retire to Spain.
Looking for More Information About Living in Spain? Check Out These Articles
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Useful External Websites For Legal Immigration
Glad to have found a greatly helpful article on NLV application specifically one that is geared for a Filipino applicant (most articles I read are from the US)
Thanks Lesther! I’m glad you found it useful. Good luck with your application. Let me know if you have any other questions.