The updates to Spain's NLV financial requirement documents in 2025
The NLV allows non-EU citizens to be able to live in Spain if they can financially support themselves, but crucially it does not allow you to work in Spain or to work for a company or clients abroad.
You must be able to support yourself through passive income such as pensions, rent from abroad, savings and interest from bank accounts etc.
It allows you to live in Spain for one year, but you can renew it for two years and a further two years after that, providing you have enough savings.
As part of the new Immigration Spain clarified several parts of this visa, including working rules and renewal rules, but it also made clear what financial evidence and bank information you have to show in order to be approved.
You need to show you have 400 times the IPREM, which for 2025 is €600. This means proving you have €2,400 per month in passive income or savings of €28,800 per year.
In addition to proving you have these sufficient funds, the Official State Bulletin (BOE) now states that you also need to include the follow along with your NLV application.
These are:
The business name or full name of the bank or credit institution, as well as its address - This is standard procedure so that the government know where your money will be transferred from
The complete identification of the accounts - This includes your bank account number, other details of your account whether it's a current or savings account, how many people are holders of the account etc.
The date of opening or cancellation or, where applicable, the dates of granting and revocation of the authorisation - The government want to see how long you've had the account for and that it has a history of income, not just that it was simply set up for visa purposes. Obviously it's unlikely you will have cancelled or closed the account if you're still using it to show sufficient funds.
The account balances as of December 31st of the year prior to the year in which the application is submitted - As well as just showing how much you have in your account on one specific day, the government want to see how much had in your account at the end of the previous year to show that it hasn't all only just gone in there.
The average balance for the last year - Similar to above, the authorities want to make sure that you've made sufficient money over a period of time, not just ahead of your visa application. They need to know that someone hasn't just leant you the money and that it's actually from passive income or active income that you will stop once you reach Spain. Therefore they will need official bank statements from the past 12 months.
You will want to make sure you have all this information readily available when it comes to sending in all your supporting documentation, so be organised in advance.
Be aware, that often the authorities will ask for a your bank to issue a statement with the amount calculated in Euros, not just the currency that it's currently in. This can be confusing for foreign banks, but they should be able to comply if it's for a specific date. You may also need these documents translated and apostilled.
If you have any doubts or questions about the financial requirements or your bank account, it's important to hire an immigration lawyer to help and advise you
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