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We process all kinds of residences:
- STUDENT VISA
- NON LUCRATIVE VISA
- WORK PERMIT
- GOLDEN VISA OR INVESTOR VISA
One of the main decisions for non-EU citizens interested in living, working or starting a business in Spain, will be to decide about which type of Residence they should choose. For this, it is essential to know the main differences among them.
MAIN DIFFERENCES BETWEEN THE NON-LUCRATIVE VISA AND THE GOLDEN VISA
NON-LUCRATIVE VISA
The non-lucrative visa was created for those non-EU citizens who have sufficient funds to live in Spain without undertaking any type of work or professional activity
The main requirements to be met are the following:
- The main requirement for obtaining this type of residence is to have sufficient funds for living in Spain, during the period of time for which you want to reside in Spain, and without undertaking any type of work or professional activity, according to the following reference amounts:
- The minimum amount to be credited is 400% of the IPREM for the holder, which in 2019 was equivalent to 25.816€ per year.
- More than 100% of the IPREM for the support of each of his dependent family members, which in 2019 was equivalent to 6.454€ per year.
To be renovated, it is essential to reside in Spain for more than 183 days a year.
ADVANTAGES OF THE NON-LUCRATIVE VISA:
- No minimum investment in property is required
- Enables free travel within the 26-country Schengen Area
- Through a joint application, you can easily get residence for your partner and children. You will only have to proof that your funds are also sufficient to cover them.
Get the permanent residency and then, the nationality. This visa will allow you to stay in Spain initially for 1 year, since it is a temporary residence authorization. Thereafter, the first and second renewals last 2 years each. And at the time of applying for the third renewal, you can apply for Permanent residence in Spain, this will allow you to live in the country without renewing it for 5 years more.
GOLDEN VISA:
In 2013 a new law was passed granting non-EU citizens Residency in Spain if they purchase one or more properties worth 500.000€ or more.
The main requirements to be met are the following:
- Purchase property worth 500.000€ or more.
- Investment can me done not only in 1 property but in several, with a total value of 500.000 euros or more.
- The investment of 500.000 euros must be free of charges. In other words, the purchase of the home cannot be financed by a mortgage in that amount; if it exceeds that amount, it is possible.
- To renew the Golden Visa, it must be shown that you keep an investment worth 500.000 euros or more, and you have visited Spain at least once during the year.
ADVANTAGES OF THE GOLDEN VISA:
- Visa-free travel to Spain
- Enables free travel within the 26-country Schengen Area
- “Tax residence” is not necessary. That is, the foreigner does not have to live in Spain more than 6 months a year, he only needs to travel to the country once a year.
- Includes the right to work in Spain.
- The applicant’s visa right also applies to his spouse and any dependent children
- You may reside in Spain for an initial period of one year, which may be extended for successive periods of two years, without a maximum term being set.