Spain stands as the second most visited country in the world with over 84 million visitors every year. I won’t go into what makes living in Spain so appealing as it would take me weeks to do a write up! Besides, it’s off the point. What matters is that it’s a beautiful country to get lost in. In fact, so much so, that it’s not unheard of that visitors - who were only planning on a short stay - take a liking to it to the point they fall madly in love with the country and want to live here. It’s happened to all of us!
But if you plan to take a leap and live in Spain all year round, you should comply with immigration legalities. You should seek legal advice on the available residency & visa permits. In today’s blog post we are going to give a sweeping overview on some of the visa permits up for grabs.
All the below-listed visas have in common the following requirements:
- Hire private health insurance
- Clean criminal record (previous 5 years)
- Be self-supporting (you will not claim benefits)
- Not be living in Spain illegally at the time of making the application
All below visas are applied for only in Spanish consulates in your home country. The only exceptions are Golden Visas and Marriage Visas which may also be applied from Spain.
Investor visa – Golden Visa
The investor visa is thought for affluent non-EU applicants. It is popularly known as a ‘Golden Visa’. It’s a blue-ribbon visa that basically rolls out the red rug for its privileged holders that neatly cuts through all the red tape. Its purpose is to foster foreign investments in Spain. Whilst there are many different ways to attain a GV, the most popular (and least expensive) is by investing in Spanish real estate. This requires investing €500,000 in property. We should point out that it applies retrospectively; meaning that any UK national (or any other non-EU) that bought a property in Spain for over 500k on or after the 28th of September 2013 may qualify. Unlike the other three visas listed below, renewals are not tied to proving you live in Spain all year round. They are based on keeping the investment. This ability to override the 90/180-day rule and not being ‘forced’ to live in Spain, make it one-of-a-kind visa and explains why it is so coveted.
Suitable for:
- Affluent property buyers
- Investors, developers
- High-flyers
Further reading: Spanish Golden Visa explained
Marriage visa – EU Family regroupment
It’s intended for families or couples that have been separated, in and out of the EU. It seeks to reunite them in an expedited manner within the EU. So, although this type of visa is popularly dubbed as ‘marriage visa,’ it would be rather more appropriate to refer to it as ‘family visa’, as its scope goes well beyond a married couple. It ought to be understood in broader terms, as in family reunion. As its own name implies, couples must be married (including same-sex partners).
Suitable for:
- Separated family members that wish to reunite within the EU
- Married couples
Further reading: EU-family regrouping (marriage visa)
Business visa – Lucrative Visa
As its own name implies, this permit allows the applicant to work in Spain as you will be self-employed. This residency applies to someone who is looking to set up his own business in Spain. Typically, you will be acting as director or company administrator. Needless to say, one of the key requirements is that you will have enough means to be self-supporting both for yourself and your family for one year. The catch, besides a cast-iron motivation, is that you need in the ballpark of €80,000 to €100,000 in savings to open & run a business.
Suitable for:
- Applicants (families) wishing to set up and run a business in Spain
- Self-employed
- Entrepreneurs
Further reading: Lucrative residency permit (business visa)
Pensioner visa – Non-lucrative visa
As its own name implies, this visa allows the applicant to live, but not to work, in Spain. The applicant will be expected to be self-supporting and will be required to prove he or she has enough savings for at least two years. This visa is ideal for retirees who wish to spend extended periods of time in Spain – without working – enjoying the finer things in life. However, it should be noted that other applicants, who are not of pensioner age, are also welcomed to apply. This visa is also a good option for those who want to test the waters and are considering living in Spain long term. The catch is that you need to prove you have an income of at least €27,000/year.
Suitable for:
- Pensioners
- Would-be buyers, long-term tenants
- Bon vivants
Further reading: The Spanish Non-Lucrative Visa Explained
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