Financial requirements for nlv

@Lisestrahle

Welcome to the expat.com forum, and good luck with your potential move to Spain!

The current requirement is about $2,700 (4 X IPREM, currently 600 euros) per month in passive (rent, dividends, pensions, etc.) income OR $32k (2.7k x 12) in savings. Common sense would suggest that $1,000 in income PLUS $20k in savings is the same... but I don't know if they'd accept it. You can try. Or, I'd suggest playing it safe and rustling up the full $32k. (Usually, this is easy as most folks will buy a property in Spain, so simply get your NLV sorted before you buy your new beach pad.)

The exact wording from the Spanish consulate in San Francisco (I don't know where you live, but it should be similar) is: "have sufficient financial means to cover the expenses of residing in Spain for the initial year of the residence permit". This sounds like they don't care if it's income or savings, as long as you can prove that you have it.

The full list of requirements is here:

https://www.exteriores.gob.es/Consulados/losangeles/en/ServiciosConsulares/Paginas/Consular/Visado-de-residencia-no-lucrativa.aspx

@Lisestrahle Any person who is going to reside for more than 90 days in Spain must have a NIE and medical insurance to obtai. ***greetings

Thank you. I'm currently covered in health insurance here.  I have read that I will need to acquire health insurance when I move to Spain. Do I need to have that taken care of before I can actually make the move to Spain?

@Lisestrahle

You must have health insurance coverage as part of your application for the NLV! It must have zero copago, and cover your first year in Spain. It doesn't have to be from a Spanish company, but it's typical (and usually easier).

There are many companies (including US ones) which provide worldwide health coverage, but often with large deductibles. You also need the insurance policy/certificate in Spanish for your application. Unless the company provides English/Spanish documents you're forced to get an expensive certified translation.