Services
Spanish Immigration and law
Non-lucrative Residency Permit
The spanish non-lucrative residency permit is for those individuals who wish to retire in Spain or individuals who are able to conduct their business remotely.
Should you wish to follow this route, you must be able to prove that you are earning a regular income from anywhere in the world from a business activity, corporate dividends or interest on investments.
It is important to note that this permit does not allow for you to actually take up employment or officially work in Spain.
Eligibility
In order for you to qualify for this type of permit you will need to fulfill the following requirements:
- You will have to prove a monthly income of at least 4 times the I.P.R.E.M (Multiplier for the Public Income Index). The I.P.R.E.M is currently €538. This effectively means that you should be able to prove an monthly income of €2152. It is important to note that a further €538 will have to be proved for each family member/dependent.
- You will need to prove that you have adequate accommodation by either owning a property of your own or renting a property.
- You will need to prove a bank account with adequate funds for the duration of your non-lucrative residency.
- You will need to prove that you have a clean criminal record in the country that you have resided in for the previous 4 years.
- You will need to prove that you have valid medical insurance in Spain.
Duration of permit
Should you be successful in your application for Spanish non-lucrative residency, you will be granted an initial 1-year residency permit, whereafter you can apply for two 2-year renewals of residency. Thus, a further 4 years split up into two renewal periods.
After the first five years of residency, you will be able to apply for permanent Spanish residency, provided that you meet certain criteria. There is also the option of applying for Spanish citizenship after 10 years of residency.
It is important to note that in order for you to apply for successful renewal of residency, you should spend 6 or months in Spain in the initial one-year residency period and a further 6 months per year in the renewal periods. Furthermore, in order to apply for permanent Spanish residency, you must show that you have not been out of the country for more than 10 months in the initial five-year period preceding the date of application for permanent residency.
Family
Your family will also qualify for Spanish residency on the non-lucrative visa provided that they are your spouse and/or children and are your dependents.
It is important to note that children under the age of 16 will be required to be enrolled in a public or private school as this is a national requirement in Spain.
How to apply
Portside Cross Border has a team of highly skilled and determined consultants with a wealth of experience in dealing with immigration. Get in touch with one of our consultants to arrange a consultation.
Residence permit for Entrepreneurs
The residence permit for Entrepreneurs offers individuals with an interest in developing an entrepreneurial activity the opportunity to obtain residency in Spain. The driving force behind this permit is to attract talent and capital to Spain and encourage development in Spain.
This route requires a business plan which should include the following:
- A detailed description of the project. There are various elements which should be included in the description such as the start date of project, location, potential of job creation, legal nature of the project, etc.
- A description of the project and/or service which should include proof of it’s innovative nature;
- A market assessment and how it will effect or be impacted by the proposed entrepreneurial activity;
- Proof of financing by way of investment and/or sources of financing detailed by a financial plan.
This route offers an advantage in that no minimum investment is required and is dependent on the business plan submitted.
Eligibility
Other than proving that you have an innovative business plan as set by in the previous paragraph, certain general requirements will have to be met in order for you to qualify for a residence permit:
- You must be a non EU/EEA citizen;
- You must be over the legal age of 18;
- You must prove a clear criminal record for the 5 years preceding the application;
- You will require private health insurance in Spain.
- You will have to prove that you will be self supporting. This requires a monthly income of at least 4 times the I.P.R.E.M (Multiplier for the Public Income Index). The I.P.R.E.M is currently €538. This effectively means that you should be able to prove a monthly income of €2152. It is important to note that a further €538 will have to be proved for each family member/dependent.
Duration of permit
Should you be successful in your application for Spanish residence permit for entrepreneurs, you will be granted an initial 1-year residency permit, whereafter you can apply for two 2 year renewals of residency. Thus, a further 4 years split up into two renewal periods.
After the first five years of residency, you will be able to apply for permanent Spanish residency, provided that you meet certain criteria. There is also the option of applying for Spanish citizenship after 10 years of residency
It is important to note that in order for you to apply for a successful renewal of residency, you should spend 6 or months in Spain in the initial one-year residency period and a further 6 months per year in the renewal periods. Furthermore, in order to apply for permanent Spanish residency, you must show that you have not been out of the country for more than 10 months in the initial five-year period preceding the date of application for permanent residency.
Investment Visa or “Golden Visa”
The Golden Visa allows those citizens who are not from the EU, the EEA or Switzerland to obtain a residence authorization and a work permit in Spain if they have made a significant investment in the territory.
An investment in one of the following categories would be deemed as significant:
a) Financial assets
- 2M in public debt
- 1M in shares of a Spanish entity
- 1M in investments funds
- 1M in bank deposits of Spanish financial entities
or
b) 500,000 € in real estate in Spain
Eligibility
Other than proving that you have made a significant investment in Spain as set by in the previous paragraph, certain general requirements will have to be met in order for you to qualify for a residence permit:
- You must be a non EU/EEA citizen;
- You must be over the legal age of 18;
- You must prove a clear criminal record for the 5 years preceding the application;
- You will require private health insurance in Spain.
- You will have to prove that you will be self supporting. This requires a monthly income of at least 4 times the I.P.R.E.M (Multiplier for the Public Income Index). The I.P.R.E.M is currently €538. This effectively means that you should be able to prove a monthly income of €2152. It is important to note that a further €538 will have to be proved for each family member/dependent.
Duration of permit
Should you be successful in your application for the investment visa you will be granted an initial 2-year residency permit, whereafter you can apply for 5 year renewals of residency.
After the first five years of residency, you will be able to apply for permanent Spanish residency, provided that you meet certain criteria. There is also the option of applying for Spanish citizenship after 10 years of residency.
It is important to note that in order for you to apply for a successful renewal of residency, you should spend 6 or months in Spain in the initial one-year residency period and a further 6 months per year in the renewal periods. Furthermore, in order to apply for permanent Spanish residency, you must show that you have not been out of the country for more than 10 months in the initial five-year period preceding the date of application for permanent reside
Family
Your family will also qualify for Spanish residency on the investment visa provided that they are your spouse and/or children and are your dependents.
It is important to note that children under the age of 16 will be required to be enrolled in a public or private school as this is a national requirement in Spain.
How to apply
Portside Cross Border has a team of highly skilled and determined consultants with a wealth of experience in dealing with immigration. Get in touch with one of our consultants to arrange a consultation.
Free Estimation
Request A Quote
I am text block. Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis.
