Question
Will the embassy verify my funds in the USA before I leave for Spain when applying for the Non lucrative Spain visa visa, as I plan to pay off my $82k mortgage using part of the required $100k and wonder if they’ll check my bank account to confirm funds?
Answers
These are the answers of some Facebook group members:
”You will most likely have to provide bank statements as evidence that you can meet the financial requirements. As you’re going to be using rental income as part of meeting the requirements, you’ll probably need to provide evidence of that income coming into your account. It will say what financial documentation you need to provide on the website of your closest Spanish consulate as that’s the one you’d apply through”
”No, they don’t verify your funds after approval. They go by what you show them. Depending on the consulate, you may have to show your bank statements going back one year and your taxes. So basically yes, you can go ahead and submit your application with your current financial situation and after it gets approved go ahead and do what you like, they don’t verify anything after approval”
”In the UK, there was no further check post interview. However remember at renewal you need to show 2 years capital”
”You don’t need all the money in the bank account. You can show a monthly passive income (rent + retirement + 401+ IRA / other passive income). One thing to consider is when you sell your house you will have to pay capital gains taxes in Spain at at least 21%. I was going to rent my house and live off the rent till retirement eligible. And then I found out about this.
So now I will be selling my house 1st then moving. But my partner, she going to use her SS and rent to qualify. Unless we can do “pareja de hecho” then we would do it together. Spanish embassy preferred monthly passive income for what I have read here”
Conclusion
In conclusion, according to Spainguru Facebook group members, when applying for the Non lucrative Spain visa, you’ll likely need to show bank statements and proof of income to meet financial requirements. Once approved, there’s usually no further fund verification.
Remember, for the non lucrative Spain visa renewal, you might need to show two years of capital. Consider showcasing monthly passive income or meeting required capital, and be aware of potential tax implications. Check the consulate’s website for precise documentation details
