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Can anyone tell me what the difference is between the NLV or becoming a resident? We are currently in the process of buying a villa due to complete this month and hope to move over within the next year or two but we will also be keeping a flat in the Uk for when we visit family. Would we be able to do this on either or must it be the visa? Thanks in advance for any ad
Sue777 wrote on Fri Sep 3, 2021 6:15pm:
Can anyone tell me what the difference is between the NLV or becoming a resident? We are currently in the process of buying a villa due to complete this month and hope to move over within the next year or two but we will also be keeping a flat in the Uk for when we visit family. Would we be able ...
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...to do this on either or must it be the visa? Thanks in advance for any ad
Hi Sue,
Basically......
The NLV (Non lucrative visa) is a visa you apply for to give you the right to move over to Spain temporarily.
You will need to apply for the NLV from the Spanish consulate while you are still living in the UK. You will need to meet the income and healthcare requirements. You are not allowed to work in Spain with a NLV. You cannot apply for the NLV when you are in Spain.
IF you gain a NLV you can move over to Spain and apply for residency within the first 3 months.
If you apply for residency and are successful it will give you the right to live here in Spain. However.....you will be required to meet the income and healthcare requirements for the first 5 years before being made permanent. There are also some conditions for time allowed out of Spain otherwise the residency could be revoked.
That is a very basic explanation and other posters will expand on certain points.
Edit: Be aware also that if you are not a resident you will only be allowed to visit your property in Spain for 90 days in a rolling 180 days.
Steve
Posted: Fri Sep 3, 2021 8:38pm
Super helpful member
Sue
Have you checked that you meet the criteria for your NLVs, now and in the next 5 years ?
If you don't meet these criteria, your new villa cannot be your main home.
I raise this, not to put a downer on your plans, but to ensure you go into your purchase with your eyes open.
Posted: Fri Sep 3, 2021 9:08pm
Kelvin1960 wrote on Fri Sep 3, 2021 8:38pm:
Sue
Have you checked that you meet the criteria for your NLVs, now and in the next 5 years ?
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If you don't meet these criteria, your new villa cannot be your main home.
I raise this, not to put a downer on your plans, but to ensure you go into your purchase with your eyes open.
Hi Kelvin,
Yes we will meet the criteria as we will sell our residential home when we come over full time so that’s not the issue and neither of us will be working as we’ll be retired
Posted: Fri Sep 3, 2021 9:16pm
Super helpful member
Sue777 wrote on Fri Sep 3, 2021 9:08pm:
Hi Kelvin,
Yes we will meet the criteria as we will sell our residential home when we come over full time so that’s not the issue and neither of us will be working as we’ll be retired
Great news
Welcome to Spain.
If you sell your main UK home before you become tax-Resident in Spain, you won't be liable for CGT in Spain on your profit.
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