Will withdrawing money from investment for a non lucrative Spain visa application be an issue?

Question

My money is invested as opposed to just sitting in a bank. If I was to withdraw a lump sum and deposit it in the bank a month before the non lucrative Spain visa application, would this be an issue? Thoughts?

Answers

These are the answers of some Facebook group members:

”We did something similar, it was advised to have the cash in the account for three months prior to application. I don’t think that’s a rule, per se, but that’s what we did”

”No, as long as you have proof of where the funds originated from. They want just want to make sure you haven’t borrowed the money from a 3rd party and then you would give it back after the non lucrative Spain visa is processed”

”We left ALL of our money invested in our Schwab accounts. We called them and had them send a notarized letter stating all the money was available for withdrawal without issues”

”We left all ours in the Vanguard account. The consulate asked for how much of we had access to so we sent a letter that states “all if we needed it”

”I submitted statements from my investment accounts also. I don’t think you need to withdraw the money”

”We left everything in Schwab and provided the summary pages of the monthly statements for six months was fine for both the original application and the renewal you don’t need to have cash in the bank”

”Ditto. But you need money here for everything. You’ll be surprised how fast it goes”

”I agree with all the above BUT you do need a bank account here with money. There will be times when you can’t do business without a Spanish account. Want to rent a car? Rent a home? Join a gym? All require Spanish banks”

”We had our money in a bank account which was gaining interest we had it certified. We informed them that we could withdraw at any time losing our interest. This was accepted”

”Which consulate? We went through Houston last year and this was definitely an issue”

”We have not been accepted yet, but we opened an account with the required amount (so we only have a month of statements for it) and then printed one year of all of our investment accounts to show that the money came from there. Then, in addition, we wrote a personal letter explaining our situation and why we only had a month of statements. Hoping it will be accepted”

”I used investment account statements in Boston. Didn’t even translate them. No problem”

”We applied in Miami, we sent copies of our joint account statements (1 year) and the balance of an investment account”

In conclusion, according to Spainguru Facebook group members, there is no need to withdraw your money from your investment accounts and deposit it in a bank account a month before your non lucrative Spain visa application. You can simply provide statements from your investment accounts to show that you have the required funds. However, it is important to have a Spanish bank account with some money in it, as you will need this for various transactions in Spain. You can open a Spanish bank account before you apply for your visa, or you can do it after you arrive in Spain.