Staff Reporter
SPAIN has long been a popular European destination for expats, thanks to its wonderful climate, Mediterranean lifestyle, rich culture, and extensive opportunities.
Although the Golden Visa by real estate investment has been abolished, Spain still offers alternative residence permit options. Whether you’re a property owner, retiree, or remote worker, there are still viable ways to secure residency in Spain.
There are several types of residence permit in Spain, each with its own criteria, granted rights, and purposes.
Non-Lucrative Residence Permit in Spain
A non-Lucrative visa is one of the most highly preferred types of residence permits in Spain. It is often considered an alternative to Golden Visa in Spain. Its official name is “Visado de Residencia No Lucrativa” and a favored option for property investors as well. This visa is intended for expats who want to live in Spain for an extended period without engaging in any work or business activities. It is designed for individuals who can support themselves financially through savings, investments, pensions, or passive income.
It is the best fit for retirement residency in Spain. The Non-Lucrative Visa is also ideal for property owners, financially self-sufficient expats who do not need to work to support themselves, and foreigners who want to live in Spain for an extended period without seeking employment.
Non-Lucrative Visa is considered a long-term residence permit, which is renewable twice after being granted. It allows visa holders to travel freely within the Schengen area. Non-Lucrative Visa holders can include their spouses, children, and dependent family members. This permit is among the best options leading to permanent residency in Spain.
The main requirement of NLV for expats is proof of sufficient funds to support themselves for the time they will live in Spain. The required amount is based on Spain’s Public Income Index (IPREM), which serves as a benchmark for economic statuses. For applications for a non-lucrative visa in Spain, expats must show that their financial means meet at least 400% of the current IPREM value.
Digital Nomad Visa in Spain
A Digital Nomad Visa is one of the newly introduced types of residence permits in Spain. It is known as “Visado de Teletrabajo de carácter internacional” in Spain. This visa is an excellent choice for freelancers and employees working for companies outside Spain.
The Digital Nomad Residence Permit allows non-EU remote workers and freelancers to live in Spain while working for foreign companies. Spain’s Digital Nomad Visa provides a pathway to live in one of Europe’s most attractive countries, with the added bonus of access to Spain’s exceptional healthcare system, work-life balance, and rich cultural experiences.
To be eligible for this residence permit, applicants must provide proof of remote employment or freelance work for clients outside Spain. However, the visa requires at least 1 year of remote employment history. Applicant’s income resource can be from Spanish clients up to 20% of their total income. The applicant also must state sufficient funds possession of at least €25,000 for the applicant. The minimum amount may differ in time and depending on the number of accompanying family members.
The Digital Nomad Visa in Spain allows expats to live and work in Spain legally for up to five years. Digital Nomad Visa holders can benefit from lower tax rates during the first four years under Spain’s Beckham Law. Additionally, they get the right to apply for permanent residency after living in Spain with a digital nomad visa for 5 years.
Conditional Residence Permits in Spain
Each applicant must meet certain residence permit requirements in Spain in order to get the residency right based on their purpose. These include work-based residence permits, student residence permits, and family reunification residence permits.
The work residence permit is known as “Residencia y Trabajo” in Spain. This is suitable for expats who plan on living and working in Spain as a foreigner. There are different types of work permits based on the nature of employment, these differ for employees and business owners. To get a residence permit to work and live in Spain, the applicants must have secured a job offer or employment contract in Spain. The condition is that the applicant must maintain the employment status during their stay in the country. If the employment ends, the residency permit may be revoked or require adjustment.
Foreign nationals enrolled in Spanish educational institutions can obtain a student residence permit, which is known as “Permiso de Residencia para Estudiantes” in Spain. The condition for this permit is that the applicant must remain enrolled and continue their studies in Spain. If the enrollment is canceled or ends, the permit of the student may be revoked. If the student continues their education in other institutions or for higher education, they can renew their residence permits.
Family reunification permit is for family members of Spanish citizens or residents. The condition is that the family member must continue to live with the primary resident in Spain. If the primary resident loses their legal status, the conditional permit may no longer be valid.
How to Get a Residency in Spain?
The residency application process in Spain is simple but structured. It can be quickly finalized with no problems if followed by guidance from a professional team. The steps typically start with gathering the required documents and applying for the appropriate visa. You’ll also need to complete additional steps, such as registering your address and applying for a residency card. Here, we’ll break down the application process into 5 main steps:
• Choosing the appropriate type of residency and getting information about the main requirements
• Analyzing your current status on meeting the conditions
• Gathering required documents
• Submitting the application
• Getting your residency card within 1-3 months
Top 3 Things to Consider To Get a Residence Permit in Spain
– Determine the type of residence permit you should apply for. Each residence permit caters to specific purposes and requires certain conditions. To get approval, you must meet these requirements completely.
– Property ownership in Spain always benefits the permit applicant. If you are considering buying property in Spain for residency, combine your property ownership in Spain with your compatible applications (e.g., non-lucrative or digital nomad visas) to strengthen your case.
– Make sure to work with an experienced team of professionals to finalize the application process, just to make sure every step is followed by the book.
Ready to start your journey? Explore properties in Spain or consult the expert team of Spain Homes ® to find the best pathway for your residency goals. With years of experience, Spain Homes has helped hundreds of people settle in Spain.
Visit their offices in Malaga (Benalmadena) and Alicante (Orihuela) to find out more.
MÁLAGA, BENALMÁDENA
Address: C/El Montículo 8, 29631, Benalmádena, Málaga
Telephone: +34 951 23 59 59
ALICANTE, ORIHUELA COSTA
Address: Carretera de Villamartín 12, Urbanización La Zenia II, Casa 22, 03189 Orihuela Costa, Alicante
