If you\u2019re thinking of retiring in Spain, the first item of note is that any non-European Union (EU) citizen who wishes to retire in Spain must obtain a visa<\/strong> to live in the country.<\/p>\n\n\n\n Spain does not have a specific \u201cretiree visa\u201d \u2013 it does have what is known as a non-lucrative residence visa <\/strong>(NLV).<\/p>\n\n\n\n This visa type<\/a><\/strong> allows retirees to live in Spain without having to work.<\/p>\n\n\n\n Spain also has what is known as the golden visa<\/a><\/strong> or the investor visa<\/strong>.<\/p>\n\n\n\n This visa type differs from the NLV in that a Golden Visa allows for retirees to both live and<\/em> work while in Spain.<\/p>\n\n\n\n However, to obtain this visa, retirees must significantly invest in areas such as real estate or Spanish companies while living in Spain.<\/p>\n\n\n\n Retirees may also deposit a certain threshold amount, usually \u20ac1 million, into the Spanish banking system<\/a><\/strong> to be eligible for this visa type.<\/p>\n\n\n\n To apply for a Spain retirement visa<\/strong>, you\u2019ll need to meet the following eligibility requirements:<\/p>\n\n\n\n Already a member of the European Union? Great, no visa or residence permit will be needed!<\/p>\n\n\n\n For those who aren\u2019t EU citizens, let\u2019s take a look at what the financial aspect of retiring in Spain might look like.<\/p>\n\n\n\n One of the number one factors to take into consideration when planning your retirement is the financial cost.<\/p>\n\n\n\n This remains true for the visa process as well.<\/p>\n\n\n\n In order to be eligible for the Non-Lucrative Visa, you must be able to provide proof of sufficient financial means<\/strong>.<\/p>\n\n\n\n The amount will be equal to 400% of the Indicador P\u00fablico de Renta de Efectos M\u00faltiples<\/strong> (IPREM).<\/p>\n\n\n\n While this number may fluctuate slightly, that percentage is equal to about \u20ac2,300 per month<\/strong>.<\/p>\n\n\n\n Figured out to a year, that number is about \u20ac28,000. <\/p>\n\n\n\n This is the amount you need to have in passive income each year in order to be approved for a visa to live in Spain.<\/p>\n\n\n\n Luckily, Spain has a fairly low cost of living depending on which part of the country you\u2019re headed toward.<\/p>\n\n\n\n While major cities like Madrid and Barcelona likely have higher rent prices<\/strong> than smaller towns like Granada or Seville, the cost does even out.<\/p>\n\n\n\n Public transportation<\/strong> is abundant anywhere you go, and food prices are relatively low.<\/p>\n\n\n\n For example, for public transportation, senior citizens in Barcelona can use what\u2019s called a T-4 card.<\/p>\n\n\n\n This is a public transportation card that allows those using public transport to pay \u20ac2 for ten journeys!<\/p>\n\n\n\n This card is good for either the bus or metro network.<\/p>\n\n\n\n Utilities<\/strong> will vary in Spain but tend to be reasonable compared to other countries like the US.<\/p>\n\n\n\n Your budget might range anywhere from \u20ac150 to \u20ac300<\/strong> per month on utilities like water, power, gas, and internet.<\/p>\n\n\n\n A breakdown of budget items you\u2019ll want to account for when gathering your finances includes:<\/p>\n\n\n\n <\/p>\n\n\n\n Add everything together, and a modest estimate for living in Spain might run you \u20ac2,000 a month<\/strong>.<\/p>\n\n\n\n You can get a financial estimate with our cost of living in Spain calculator<\/strong><\/a>.<\/p>\n\n\n\n Documentation for retiring in Spain will include items that help you apply for your visa, while also applying for things like a residence card<\/a><\/strong> and a place to live<\/a><\/strong>.<\/p>\n\n\n\n Common document items necessary for many of these processes include:<\/p>\n\n\n\n <\/p>\n\n\n\n The documentation necessary to apply for an NLV specifically will be submitted in person.<\/p>\n\n\n\n This step is completed at your local Consular Office.<\/p>\n\n\n\n For example, for those in the US, the Spanish Embassy<\/a><\/strong> website includes all the necessary consular services information you\u2019d need for applying. <\/p>\n\n\n\n For a more in-depth look at the NLV process, check out one of our previous posts<\/a><\/strong> on the process.<\/p>\n\n\n\n The benefits to retiring in Spain are numerous.<\/p>\n\n\n\n The fabulous beaches and sunny weather are notable draws, but Spain is made up of so much more than that.<\/p>\n\n\n\n To begin, Spain is known for having a strong, affordable healthcare system, as well as a healthy way of life.<\/p>\n\n\n\n Spanish living treasures a healthy work-life balance and a culture of community that is difficult to rival in many countries.<\/p>\n\n\n\n Spain is also known for adhering to the wonderful concept of siesta hours<\/strong>.<\/p>\n\n\n\n Generally between 2 PM to 5 PM, some businesses may close for a 2 hour (sometimes 3!) hour \u201cnap\u201d period.<\/p>\n\n\n\n While siesta time doesn\u2019t necessarily mean sleeping, it allows workers, shop owners, and others a chance to \u201crest\u201d before getting on with the rest of their day. <\/p>\n\n\n\n While closing during siesta hours isn\u2019t true for every business, it\u2019s a common occurrence that allows people to slow down a bit and take a break from the hustle and bustle of life.<\/p>\n\n\n\n Spain is a friendly, laid-back, corner of the world with a rich tapestry of history and culture.<\/p>\n\n\n\n It\u2019s made up of a wide mix of energetic cities and quaint seaside towns.<\/p>\n\n\n\n From sunny Seville<\/strong>, to the small town of Santillana del Mar<\/strong>, the choices of where to retire in Spain might seem overwhelming.<\/p>\n\n\n\n We recommend doing a quick inventory of what you\u2019re hoping to get out of your retirement in Spain.<\/p>\n\n\n\n Prefer a more laid-back atmosphere? Galicia<\/strong>, Moj\u00e1car<\/strong>, or Almer\u00eda<\/strong> might be perfect for you.<\/p>\n\n\n\n Looking to spend more time closer to busy city centers? Barcelona<\/strong>, Madrid<\/strong>, or Valencia<\/strong> might check those boxes.<\/p>\n\n\n\n Start your journey by taking stock of what matters most to you for your new home away from home.<\/p>\n\n\n\n Let\u2019s go over a quick refresh on how to retire in Spain<\/strong>!<\/p>\n\n\n\n The requirements are fairly simple.<\/p>\n\n\n\n For non-EU citizens<\/strong>, the following steps will need to be met:<\/p>\n\n\n\n <\/p>\n\n\n\n For either visa type, golden or NLV, you\u2019ll need to apply for a temporary residence permit which will be good for one year.<\/p>\n\n\n\n At the end of year one, you\u2019ll be able to renew that permit for two additional years.<\/p>\n\n\n\n This process can then be repeated.<\/p>\n\n\n\n One you\u2019ve hit the five-year mark in Spain, you\u2019ll be able to request a permanent resident permit<\/strong>!<\/p>\n\n\n\n It\u2019s also good idea to brush up on your Spanish<\/strong> before you spend your retirement in Spain.<\/p>\n\n\n\n Not fluent yet? That\u2019s okay!<\/p>\n\n\n\n The best way to learn is to immerse yourself in the culture around you.<\/p>\n\n\n\n Say hi to your neighbors, chat with the grocery store attendant, and get out of your comfort zone whenever you can.<\/p>\n\n\n\n Remember, Spain will be your new home! It\u2019ll start to feel that way in no time.<\/p>\n\n\n\n Go! Go! Espa\u00f1a <\/strong>is here to help guide you on your way toward making your retire in Spain dreams a reality.<\/p>\n\n\n\n Whether you\u2019d like to use our visa services, or whether you\u2019ve got general questions on what to do upon arrival, we\u2019ve got you covered!<\/p>\n\n\n\n We work directly with a Spanish immigration lawyer that can help ensure you\u2019ve covered all your bases prior to moving abroad.<\/p>\n\n\n\n We can even help with finding accommodation<\/a><\/strong>, direct you to Spanish classes<\/a><\/strong>, and more.<\/p>\n\n\n\n\n
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<\/figure>\n\n\n\nRetire in Spain<\/strong> \u2013<\/strong> Proof of Finances<\/strong><\/h2>\n\n\n\n
Cost of Living in Spain<\/strong><\/h3>\n\n\n\n
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Documentation and Where to Apply<\/strong><\/h2>\n\n\n\n
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<\/figure>\n\n\n\nBenefits to Retiring in Spain<\/strong><\/h2>\n\n\n\n
Where to Retire in Spain<\/strong><\/h2>\n\n\n\n
Quick Refresh<\/strong><\/h2>\n\n\n\n
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<\/figure>\n\n\n\nReady to Start Your Retirement in Spain?<\/strong><\/h2>\n\n\n\n