Currently, there are different ways to obtain residency in a country. Spain has become a reference destination to obtain a second residence, both for young people who want to start a business and work, and for those who decide to have a second life after retirement, who use the Non Lucrative Visa permit in Spain, thanks to their savings.
The Spanish economy has grown consistently above the European average over the last five years, prior to the COVID-2019 pandemic. Spain is one of the countries with the most open regulation for foreign investment. For this reason, many turn to the Spain Investment Visa to obtain their residency.
Pensioners and students: Non Lucrative Visa
For people who have retired or for young people who decide to study in Spain, the best way to obtain a residency is through the Non Lucrative Visa.
This allows you to work remotely in Spain. However, you will not be able to work in the country in person. This permit authorizes its holders and their families to reside in Spain and move around the European Union.
In order to obtain this residence permit, a series of requirements must be met, such as not being EU/EEA/Switzerland citizens, not having a criminal record in Spain, having the necessary financial means to cover the costs of the stay or not being prohibited from entering Spain.
The main advantages of obtaining this visa are:
- You can apply together with your family
- It allows you to obtain long-term residence
- You cannot work in the country, but you can invest or telework in your country of origin.
- Possibility to study and do internships (also paid)
- You can travel within the Schengen area for a period not exceeding 90 days.
Once in Spanish territory, the person with this permit has to start fulfilling a series of legal obligations: health insurance, a bank account and, in case of having children, enrolling them in a school.
Spain: a country of investors.
Spain has become a paradise for investors. Over the last few years it has been climbing up the list of countries that stand out for their economy, occupying the 15th position. Moreover, the service sector accounts for 74% of the country’s business activity.
Spain offers great business opportunities in various sectors: ICT, renewable energies, environment and automotive. These services, together with the commitment to R&D, have led to an increase in the Spain Investment Visa.
Foreigners who decide to live in Spain or are already residing in Spain will be granted entry provided they can prove that they are investors, entrepreneurs, researchers, qualified professionals or workers carrying out intra-corporate movements.
The process to obtain this permit is quick and easy. The visa process takes 10 working days and 20 days for residence permits to be approved.
The requirements to obtain the Golden Visa are:
- To stay regularly in Spain
- Be of legal age (18 years old)
- Not to have a criminal record in Spain or in the countries where you have resided in the last 5 years.
- Have public or private insurance
- Have sufficient financial resources
- Pay the visa processing fee