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Local Spain
24-06-2025
- Business
- Local Spain
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
Local Spain
21-03-2025
- Business
- Local Spain
KEY POINTS: Everything that changes about life in Spain in April 2025
La renta - Spain's yearly income tax campaign opens Spain's annual income tax return is called ' la declaración de la renta ' or just la renta for short, and this year the period in which to file it starts from April 2nd. Next month you must file your taxes for the previous financial year, which means for 2024. From April 2nd, you can present your taxes online, but you'll need to wait a little longer if you want to do it by phone. Take a look at our calendar of dates below. The campaign this year runs until June 30th which means that you have a little less than three months to get your papers in order and submit your returns. Many foreigners in Spain (and even Spaniards) opt for the services of a gestor to help them through as it can be quite complicated. Spain's golden visa to come to an end Previously one of the easiest visas for non-EU nationals to move to Spain was the golden visa, but from April 3rd, this option will finally come to end. The golden visa granted residency to those who bought either one or more properties worth €500,000, or invested €1 million in shares in Spanish companies, €2 million in government bonds, or transferred €1 million to a Spanish bank account. The Official State Bulletin (BOE) specifies that those who have sent in their application and corresponding documents before that deadline will still be able to have their Spanish golden visas granted, if they meet the criteria. But remember, if you are already a golden visa holder or a direct family member living in Spain, you will still be able to hold onto your residency rights when it comes to renewing, despite the scheme coming to a close. Rules for tourist lets in buildings in Spain change From April 3rd 2025, there will be a new rule regarding vacation rentals across the whole of Spain. It will mean that if a rental is located a residential building shared with others, owners will now need permission from the building's homeowners' association (comunidad de vecinos) in order to legally operate, as well as to obtain a tourist licence. The new law states: "You must previously obtain the express approval of the community of owners," and clarifies that the decision must be made with the support of at least three-fifths of the owners. Previously, neighbourhood associations had some say in the matter, but this now gives them more power. Spain's new rubbish tax to come into force A new rubbish tax with come into force from April 1st and is set to affect millions across the country. It means that from next month, municipalities must implement European waste regulations, meaning they will have to charge residents a garbage collection fee. It's important to note that it will only affect municipalities with more than 5,000 inhabitants. In some parts of Spain, there's already a rubbish collection charge, but the new rule means that those locations where it's already enforced will likely increase them. The main aim of the waste tax is to cover the real cost of waste management and establish a circular economy model in line with EU guidelines. Fees are likely to vary considerably from one municipality to another and also depending on the size and cadastral value of your property or commercial premises. It's estimated that the average fee for a normal property could range from €50-€150 per year. Easter celebrations take place This year Easter falls on Sunday April 20th, which means that Semana Santa or Holy Week runs from April 13th to the 21st, which is Easter Monday. It's an important holiday in much of Spain, which many people taking holidays from work and celebrations taking place in cities across the country. Some of the best and most colourful Holy Week celebrations take place in Seville, Málaga, Granada, Zamora, Valladolid, Toledo and Cuenca. It typically involves groups of religious brotherhoods parading through the city streets carrying elaborate floats known as pasos featuring statues of Jesus and the Virgin Mary. Día de Sant Jordi or San Jorge April 23rd marks St George's Day. It's not celebrated all over the country, but for certain regions it's a very important festival. In Catalonia, Día de Sant Jordi is a celebration of the region's patron saint and is marked by the gifting of books and roses. Many towns and cities will be draped in the traditional red and yellow stripes of the La Senyera (the Catalan flag). Dragons and roses will also decorate shop windows and plazas. April 23rd is also the Día de Aragón and a public holiday there. Like Catalonia, San Jorge is also the patron saint of Aragón. They celebrate with flower displays, cultural performances and meals with family. St George's Day is also recognised in the Balearic Islands and some places in Valencia and is marked with similar celebrations to Aragón and Catalonia. Día del libro Not only is April 23rd St George's Day, but it also coincides with UNESCO's World Book Day (Día del libro), as it celebrates the anniversary of the death of William Shakespeare and famed Spanish author of Don Quixote, Miguel de Cervantes one day earlier on April 22nd. Interestingly, it is international event, but originally started in Spain. The idea of celebrating Book Day came from Catalonia and Valencia. Valencian writer Vicente Clavel Andrés proposed it at Barcelona's Chamber of Books in 1923 and it was later approved by King Alfonso XIII in 1926.
