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NLV proof of finance

Posted: Wed May 22, 2024 4:36pm
4 replies2 members subscribed
Tonychrissy

Posts: 30

1 helpful points

Location: Villamartin

Joined: 18 Mar 2024

Hi all

Due to various replies on a number of platforms, I am getting brain fog reference to proof of earnings etc.

I know  it is around £30.000 a couple year one  it then it is double for year 2/3 and the same for year 4/5. 

Can this be pension and savings combined?. Is the pension figure calculated gross or net?. 

I will have my two pensions and savings but my wife being younger will just be some savings.

Does my wife have to show the 7200 euros for her part separately or, can it be a combined amount?.

Sorry to be a pain.

Many thanks 

Darro

Posted: Wed May 22, 2024 5:37pm

Darro

Super helpful member

Posts: 1572

1359 helpful points

Location: Catral

Joined: 8 Sep 2021

Posted: Wed May 22, 2024 5:37pm

It can be more or less anything which is demonstrably secure and regular so that can include pensions, dividends, interest, and potentially significant savings. It cannot be from any sort of work or paid employment, hence the name Non Lucrative Visa.

There are no hard and fast rules with each case being considered on it's own merits.

It's gross and will be subject to tax in Spain.

It's wrong to say that you need to show 2x the income for the 2nd and 4th year renewals, you only have to show that your income stream continues. At year 4 you may be asked to prove that it had been maintained during years 2 & 3 and similarly at the end of year 5.

The requirement for a couple is presently €36,000, the composition doesn't matter.

Tonychrissy

Posted: Wed May 22, 2024 5:52pm

Tonychrissy

Original Poster

Posts: 30

1 helpful points

Location: Villamartin

Joined: 18 Mar 2024

Posted: Wed May 22, 2024 5:52pm

Darro wrote on Wed May 22, 2024 5:37pm:

It can be more or less anything which is demonstrably secure and regular so that can include pensions, dividends, interest, and potentially significant savings. It cannot be from any sort of work or paid employment, hence the name Non Lucrative Visa.

There are no hard and fast rules with each case being considered on it's own merits....

...

It's gross and will be subject to tax in Spain.

It's wrong to say that you need to show 2x the income for the 2nd and 4th year renewals, you only have to show that your income stream continues. At year 4 you may be asked to prove that it had been maintained during years 2 & 3 and similarly at the end of year 5.

The requirement for a couple is presently €36,000, the composition doesn't matter.

Thanks so much Darro. That is a really helpful reply. I had pretty much got that in my head but then someone comes along on Facebook site and cloud the issue. 

Appreciated 👍 🙏 

John123456

Posted: Wed May 22, 2024 6:20pm

John123456

Super helpful member

Posts: 1596

1158 helpful points

Location: Benidorm

Joined: 27 Feb 2021

Posted: Wed May 22, 2024 6:20pm

You might find the contents of this link helpful:

https://www.immigrationspain.es/en/financial-requirements-non-lucrative-visa/

Tonychrissy

Posted: Wed May 22, 2024 7:32pm

Tonychrissy

Original Poster

Posts: 30

1 helpful points

Location: Villamartin

Joined: 18 Mar 2024

Posted: Wed May 22, 2024 7:32pm

John123456 wrote on Wed May 22, 2024 6:20pm:

You might find the contents of this link helpful:

https://www.immigrationspain.es/en/financial-requirements-non-lucrative-visa/

Great, thanks John.👍

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interior building work
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Jennifer Cunningham Insurances SL
ASSSA Insurance
James Spanish School
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AA Free English TV
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