The Non-Lucrative Visa (NLV) What It’s Really For — and Where People Go Wrong

 The Non-Lucrative Visa (NLV) What It’s Really For — and Where People Go Wrong

The Non-Lucrative Visa (NLV) is one of the most talked-about visas for Spain — and also one of the most misunderstood.

It’s often described as “the retirement visa” or “the passive income visa”, which oversimplifies things and leads people to apply for the wrong visa at the wrong time.

This guide is here to give you clarity, not instructions.

What the NLV is designed for

At its core, the NLV is for people who want to live in Spain without working.

It is best suited to people who:

• Have passive income (pensions, investments, rental income, dividends)
• Have substantial savings
• Do not need to work while living in Spain
• Are happy to live in Spain full-time (this is important)

It is a residency visa, not a “long holiday visa”.

What the NLV is not

This is where people get caught out.

The NLV is not suitable if:

• You plan to work remotely while in Spain
• You intend to run an active business
• You want to “see how it goes” and stay part-time
• You’re relying on future income that isn’t guaranteed yet

Even if your income comes from abroad, working is still working in the eyes of Spanish immigration.

This is one of the biggest misconceptions.

Income vs savings (high level)

You don’t need to memorise figures here — those change and are consulate-specific.

What matters is understanding the principle:

• Immigration wants to see that you can support yourself without working
• This can be through regular passive income, savings, or a mix of both
• One-off windfalls or “I’ll start earning later” usually don’t cut it

This is where professional advice becomes important.

 What You Need to Show Financially for the NLV (Realistic Overview)

One of the biggest questions people have about the Non-Lucrative Visa is simply:

“How much money do I actually need?”

While exact figures can vary by consulate and year, the structure of the requirement is consistent.

The financial benchmark (how Spain measures it)

Spain uses a reference figure called IPREM to calculate financial requirements.

For the main applicant, you are usually expected to show around 400% of IPREM per year, plus additional amounts for dependents.

In real-world terms, this roughly translates to:

• Main applicant: approximately €28,000–€30,000 per year
• Each dependent: roughly €7,000–€8,000 extra per year

⚠️ These are guideline figures, not guarantees. Some consulates expect more.

How you can meet the requirement

You do not have to meet this through one single source. Immigration usually accepts a combination of the following:

✅ Passive income

This is income that does not require you to work, such as:

• pensions
• investment income
• rental income
• dividends

What matters:

• it is regular
• it is provable
• it is ongoing

✅ Savings

Savings can be used:

• on their own
• or to “top up” passive income

What immigration looks for:

• funds held in your name
• money that is already accessible
• a clear paper trail (bank statements)

One-off windfalls or recent unexplained transfers often raise questions.

✅ Combination of income + savings

This is very common.

For example:

• pension income below the annual threshold
• combined with sufficient savings to bridge the gap

This is where professional guidance is especially helpful.

What generally does not count

People often assume these are acceptable — they usually aren’t:

• ❌ future income you plan to earn
• ❌ business income that requires active work
• ❌ freelance or remote work income
• ❌ money held in someone else’s name
• ❌ “I can access it if I need to” explanations

Spanish immigration is evidence-based, not trust-based.

Bank statements & documentation

Most consulates expect:

• recent bank statements (often 6–12 months)
• clear balances
• official documents (not screenshots)
• translations where required

They are looking for stability, not just a high number on one day.

Health insurance (financially linked)

For the NLV, you are also required to show:

• private health insurance
• with no co-payments
• valid in Spain
• for the full visa period

This is a non-negotiable part of the application and ties directly into financial approval.

The biggest NLV mistakes I see

These come up again and again:

❌ Using an Airbnb address

Many consulates require long-term accommodation, not short-term rentals. Please double check with your specific consulate.

❌ Applying too early (or too late)

Timing matters more than people realise — especially with documents and bank balances.

❌ Assuming rules are the same everywhere

Each Spanish consulate can interpret requirements differently.

Residency & tax (the bit people avoid)

The NLV usually makes you a Spanish tax resident.

That means:

• Your worldwide income may become taxable in Spain
• Tax planning should happen before you apply, not after you arrive

This is why visa and tax advice should always be looked at together, not separately.

Renewal & the Long-Term Picture

The Non-Lucrative Visa is usually issued for one year initially.

After that:

• it can be renewed from within Spain
• renewals are typically granted in two-year periods
• after five years of legal residency, you may be eligible to apply for permanent residency

Each renewal requires you to:

• continue meeting the financial requirements
• maintain valid private health insurance
• show you have been living in Spain legally

The NLV can therefore be a long-term residency route for the right person, not just a temporary solution.

⏳ Processing Times & Planning Reality

Processing times for the NLV vary by consulate and time of year, but it’s common for applications to take several weeks to a few months.

Because of this:

• you should not book non-refundable flights
• you should avoid committing to long-term accommodation
• you should plan for flexibility in your move date

Visa approvals are never guaranteed, and timelines can change without warning. Waiting for formal approval before locking in plans avoids unnecessary stress and financial loss.

When the NLV is a great option

Despite the warnings, the NLV can be an excellent choice if:

• You want a slower pace of life
• You don’t need to work
• You’re financially stable
• You plan to integrate into Spanish life long-term

For the right person, it’s one of the simplest and most reliable residency routes.

Final thought

The NLV isn’t “good” or “bad”.

It’s specific.

The problems happen when people choose it because it sounds easy, not because it actually fits their life.

That’s exactly why getting clarity before applying matters.

A reality check (important)

Meeting the minimum does not always mean approval.

Consulates often assess:

• consistency
• financial behaviour
• credibility of the overall application

Two people with the same bank balance can receive different outcomes.

The honest takeaway

The NLV is not about being rich.

It’s about proving that:

• you can support yourself
• you will not work
• you will not rely on the Spanish system

If your finances clearly support that story, the NLV can be a very solid option.

⚠️ Important note

Financial thresholds and documentation requirements can vary by consulate and may change. This guide is for general information only and does not replace professional immigration advice.