Question
Just been told we need a minimum of 60k euros in the bank plus our annual pension of £22500 to renew our one year NLV. I thought it was pension plus savings to meet the financial requirements. Any advice welcome.
Answers
These are the answers of Spainguru’s Facebook group members:
“We’ve just renewed our years 2/3 NLV and only provided details of our pension income as we did initially. If your income hasn’t changed since year one and you had sufficient for the original NLV you shouldn’t have a problem with your Spain Non Lucrative Visa renewal. We didn’t have to declare any savings etc.”
“With all these comments about how much you need to have deposited, I’m curious. I’ve read some posts indicating people have simply opened a Wise account and don’t have a Spanish bank account. Is that possible?” – “We don’t have a Spanish bank account only Wise and UK accounts and have just been granted 2/3 Yr Visa. We just gave Wise statements, UK statements and pension statement. As long as you have proof of funds you’ll be fine. It doesn’t matter where they are.”
“The requirements should be at the MOST €22,500 plus 27,000€ which is 72,000€ in total over the two years. However, some areas like Almeria accept the same as year 1 e.g., 4xIPREM 36,000€.”
“You need double what you had for the initial Spain Non Lucrative Visa application as at the end of year one you’re applying for 2 years together. The regions vary unfortunately.”
“I hired an immigration expert to process my renewal and it was 150€ well spent. I received approval within 3 weeks and she was able to get a TIE appointment for me, as well.”
Conclusion
The Spainguru Facebook group members provided a range of experiences and insights regarding the financial requirements for renewing the Spain Non Lucrative Visa. It appears that the specific financial requirements can vary significantly by region and individual circumstances.
Most members suggest that as long as the original financial requirements are met with consistent pension income, additional savings might not be necessary.
However, consultation with a immigration experts or immigration office is advisable for personalized guidance, as regional differences and individual circumstances can affect the required documentation and total financial proof needed.
