Spain: Is one of the most popular destinations to move to in Europe.
Spain’s high standards of living and developing economy are the attractive factors that make it a relevant option for relocation. Both families and businesses nowadays treat Spain as an important candidate for future investments. In the first 6 months of 2022 478,990 new immigrant residents were accepted in Spain.
Also, Spain has a large number of international students, young people find that Spain is an attractive study destination. Statistics for the academic year 2019/2020 show that foreign students enrolled in Spanish universities consisted of a total of 208,366 students, out of which 55,277 are international students enrolled in mobility programs. This number is for both public and private universities and both, male and female, international students.
However anyone who is not from EU countries needs to obtain a Spanish work visa to live in Spain. Without a work visa, a company cannot legally employ non-EU citizens. Work permits, which may be limited to specific activities, are in general valid for a year and are renewable if you still fulfill the conditions. After five years, you can apply for a long-term residence permit in Spain. Non EU citizens students also require a student visa from the Spanish Embassies or consulates in their country of origin to be able to study in Spain.
What is a golden visa?
The Spanish Golden Visa is an investment program to obtain a residence card. It allows non-European investors who make an eligible investment to live in Spain. The minimum legal requirement is a real estate investment of €500,000. There are other options: the investor can invest €1 million in shares or bank deposits, or €2 million in public debt. The initial permit issued under the Golden Visa is valid for 1 year, followed by a 2-year residence permit renewable every 2 years as long as the investment is maintained. The investor must meet the following conditions:
- Be over 18 years old.
- Not have a criminal record.
- Be able to prove a monthly income of at least €2,130, plus an additional €532 for each additional family member.
- Have private health insurance in Spain.
- Must not have entered or stayed illegally in Spanish territory.
- Provide proof of having made the eligible investment.
Our Immigration lawyer can assist you to get the Spanish Golden Visa.
Another attractive option: the Non lucrative visa:
The non lucrative residence visa is a type of residence in Spain that grants non-EU citizens with sufficient funds permission to reside in the country without carrying out any type of economic activity. If you wish to immigrate to Spain and you have sufficient income to support yourself and your dependents, you may apply for a non-lucrative residence visa. You must show an income of at least €34.600 annually, plus €8.400 per additional family member. Income may be derived from investments, annuities, sabbaticals, and any other sources of income. One of its main characteristics is that this visa prohibits you from carrying out any type of economic or professional activity in Spain. That is to say, you will not be able to work for a company that operates in the country. This is because the permit is not for profit.
Although you are still allowed to invest in the country to get additional sources of income, it also allows you to study and to be enrolled in internships in Spain.
This visa will allow you to stay in Spain for 1 year starting the moment you enter the country. Thereafter, you will have the possibility of renewing the permit successively, with a duration of 2 years for each renewal. This will continue until permanent or long-term residence is obtained (after 5 years).
Do you want to move to Spain with a Non Lucrative Visa, do not hesitate to talk with our immigration lawyers in Barcelona.
At Marfour we have dealt with thousands of NLV thanks to our English speaking lawyers.