Lately, many friends on the forum have been sending private messages. They’ve settled down here, bought a house, and now want to bring their elderly parents over from their home country to enjoy the Spanish sun and relaxed lifestyle together. It’s a completely understandable desire! But when it comes to the actual process, many find themselves torn between the ‘Golden Visa’ and the ‘Non-Lucrative Visa.’ Today, let’s talk about the process of getting residency for parents from an ordinary person’s perspective, focusing specifically on the Non-Lucrative Visa route.
Golden Visa vs. Non-Lucrative Visa
First, let’s be clear: even if you’ve bought property, if its value is less than €500,000, the ‘Golden Visa’ is not an option. The advantages of the Golden Visa are fast processing, the right to work, and flexible residency requirements, but the financial threshold is high. For parents who are already retired and have no intention of working, spending €500,000 for this visa isn’t very cost-effective. In contrast, the Non-Lucrative Visa seems almost tailor-made for them. It does not permit employment, but its core requirement is to prove you have sufficient funds to live in Spain without relying on public welfare. This is perfectly suited for parents who want to come here for retirement.
The Core of the Non-Lucrative Visa: Financial Proof
When applying for the Non-Lucrative Visa, the most crucial step is proving that your parents have a continuous and stable non-work-related income. The official benchmark for this is the IPREM (Public Multiple Effects Income Indicator). The specific amount changes annually, but the calculation formula remains fixed. For example, in 2024, the monthly IPREM is approximately €600.
| Applicant(s) | Financial Requirement |
|---|
| One parent applying | 400% of the IPREM |
| Both parents applying together | 500% of the IPREM = €36,000 |
This money can come from pensions, rental income, investment returns, etc. The key is to prove that the source of this income is stable and reliable. Simply having a large lump sum in a bank account may not be convincing enough; it’s best to provide continuous bank statements to support the claim. Although having a property here to provide accommodation for your parents is a plus, it does not replace the aforementioned proof of funds.
Two Common Pitfalls to Avoid
First is health insurance. When applying for your parents, you must purchase a comprehensive private health insurance policy from a company in Spain. It must be a policy with co-payments with absolutely no co-payments (sin copagos), offering full coverage without any limitations. This is a strict requirement for retiring in Spain after buying property; if you get the wrong insurance, the application will be rejected 100% of the time.
Second is the main applicant. Many people mistakenly believe that they, as the children, are ‘sponsoring’ or ‘applying for’ their parents. In reality, for adult parents, they are the independent applicants for their own Non-Lucrative Visas. What we can do is provide support, such as writing a letter of invitation, providing proof of accommodation in Spain, and helping them prepare the documents to convince the consular officer that they will be well-supported and looked after once they arrive. Essentially, these are two separate, individual applications.
Bringing parents to Spain for retirement via the Non-Lucrative Visa is a completely viable path, but the process demands meticulous attention to detail and a great deal of patience. The preparation of documents must be flawless, especially concerning finances and insurance. I have friends who have successfully gone through this, and seeing their families reunited here makes you feel all the effort was truly worth it. I hope this information is helpful to everyone, and I welcome friends with experience to add their insights or make corrections!
