Non-profit residency in Spain is an authorization that allows non-EU foreign nationals to stay in Spain for more than 90 days without employment or professional activity by proving that they have enough financial means for themselves and, if necessary, for their family members.
Here we explain this better through an example: an American comes to Target Estates lawyers because we speak English. So we understand each other better, but also because of the recommendation of another client whom we have previously helped with a similar procedure, obtaining a great result.
We want to obtain a residence permit to live in Spain, with available funds, i.e. a residence permit without the need to work.
Important: The initial duration of the non-profit residence in Spain is 1 year from the date of entry into Spain (Art. 49 of Inmigration Regulations Royal Degree 557/2011, April 20). The first and second subsequent renewals of the non-profit residence permit have a duration of 2 years.
At the time of the third renewal, it is possible to apply for long-term residence, which is indefinite in nature, although the foreigner's identity card proving the type of residence must be renewed every 5 years (Art. 51.7 and 150.1 of the Foreigners Regulations).
The issues that remain to be addressed are:
- This person does not live in their home country, the United States, but in another country, the United Kingdom.
- We have to obtain documents from both the UK and the US, translated and legalized, and meet the requirements for this type of application.
- The person in question has bought a house in Spain, and we cannot take "no" for an answer.
- We have to take into account that they ask for a certain amount of money for the first year, but when they renew, they ask for double that amount.
How does this service help?
Non-profit Residence in Spain is an administrative procedure under the Spanish immigration law, articles 45 to 49 of the Royal Decree 557 of 2011, which allows the Spanish Government to apply for authorization to reside in the country without carrying out any work activity.
Applicants must have 400% of the IPREM (Public Indicator of Multiple Effects Income) which is a reference, used in Spain, for the granting of unemployment benefits or subsidies.
Currently and for the whole year 2022, the IPREM is 579.02 euros per month, which would correspond to 27,792.96 euros per year or a similar amount in currencies convertible into euros, property titles, certified cheques, or credit cards.
The essential points of our work of support and assistance and comprehensive advice are:
- Demonstration of the economic means to reside in Spain.
- Arranging an insurance policy with a Spanish company, for a yearly period, with no gaps, no coding, and which includes all the specialties of the Spanish public health system.
Due to the good communication with the Spanish Consulate in London, a person can go with all the documentation in order and without being asked for more documents during the process. Within a week, they could obtain their visa and travel to Spain to apply for their residence card.
In addition, you can use other services of our company, such as assistance in the purchase of your property, assistance in communicating with the Administrator of your property to inform you of the new owner, assistance in the rental contract you make to a tenant of your property, among other services.
If you would like to have more information on how to obtain your visa or non-profit residency permit in Spain, do not wait to contact us, we will be happy to advise you on how to get it with a higher probability of success!