Residence permit No Lucrativa: advantages and disadvantages

We continue the series of posts about the No lucrativa residence permit and tell you about its advantages and disadvantages. Let’s start with the pleasant.


What bonuses will you get:

Variation of renewal after the initial receipt of a permit for the first year of residence:
1. The first and second renewals are valid for 2 years. And upon requesting a third, you can already apply for a long-term residence in Spain for 5 years.
2. Modification of the residence after the first year for a residence permit with the right to work.

The ability to work remotely without losing your usual income.

Staying in Spain does not depend on external factors: there is no reference to the employer, place of study or internship.

Living in a comfortable mode: in a year you will have time to learn Spanish, get acquainted with the mentality and culture of the country and understand if Spain is right for you.

If you wish, you can go to study and undergo a paid internship.
⠀ The
ability to move to Spain at the same time with the whole family from the first day.

The right to Spanish citizenship for a child born in Spain after 1 year of legal residence in the country.

Receiving passive income through investments, even without the right to work.

The ability to travel to EU countries without additional documents and visas.

But not everything is so rosy. There are also disadvantages of a residence permit no lucrativa:

The presence of a large amount of money in the account. The longer the renewal period, the larger the amount. That is, if you are renewing for 2 years, then the IPREM is multiplied by the number of months in that period.

The integration process can be delayed because less effort is required compared to other types of residences.

You cannot work in Spain.

Temporary qualification: at least 183 days must be spent in Spain for the further extension of the residence permit. As a result, you become a tax resident, which entails the payment of IRPF income tax worldwide

There are pros and cons everywhere, but in the new reality of a pandemic and closed borders, a residence permit without the right to work will greatly facilitate life and open up new opportunities for you.


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