Spain Residency
Non-Lucrative Visa and Golden Visa are two main residency programs of Spain.
About Spain
Officially known as "Kingdom of Spain”, Spain is a vast country in the western part of Europe. Being the second largest country in the European Union, and with a population of nearly 47 million people in 2022, Spain is the sixth largest country in Europe. Spain has common borders with the sea in four directions and has long and beautiful beaches. The rich culture, high quality of life, affordable living costs, as well as the mild climate of this ancient and beautiful European country attract thousands of immigrants and millions of tourists each year.
During the last two decades, Spain has been one of the main destinations for immigrants to Europe, due to its diverse immigration programs and a top-notch education system. At the same time, Spain is still one of the most popular retirement living destinations in Europe and diverse immigration programs are defined in this regard.
Spain Non-Lucrative Visa
Spain Non-Lucrative visa is a permission to enter and stay in Spain on the condition of avoiding direct work in this country, and it is included in the category of long-term residence visas in Spain. As the name of this program suggests, the main condition for receiving this visa is to have sufficient financial resources in the country of origin to cover your costs of living in Spain. With this visa, first a one-year residence is granted which can be extended every two years. At the end of the fifth year, it is possible to obtain permanent residence.
The benefits of this program
The benefits of this program include the following:
- Free education of children in public schools
- Permission for registering a company and entrepreneurship in the first 5 years of residence (before receiving permanent residence)
- Visa-free travel to 188 countries by obtaining Spanish residence
Minimum eligibility requirements
- Required monthly income from passive sources (such as pension, rentals, stocks, deposit interest, etc.):
- For a single person: 2500 Euros
- For a couple: 3500 Euros
- For a family of four people: 1000 Euros per person
- Necessary financial capacity in the bank account:
- For the main applicant: 30,000 euros
- For each additional person, including children: 10,000 euros per person
- Not residing in any other country
- Health insurance and health certificate
- Travel history: at least one trip in the last 4 or 5 years to the Schengen area (preferably Spain itself)
Spain Golden Visa (Real Estate)
One of the Spanish residency pathways is the Golden Visa program with three different subcategories, including investment in the real estate option. Launched in 2013, Spain's golden visa allows foreigners to obtain temporary residence in this European country with various investment projects, such as investing at least 500,000 Euros in real estate. Spain's golden visa can be renewed every two years and can bring applicants permanent residence after 5 years.
General requirements
In addition to the investment, applicants must:
- be of legal age (+18 years old)
- have no history of criminal records
- have health insurance in Spain