If you too have decided to move to Spain and enjoy its high levels of quality of life, low costs of living and excellent climate, you might be wondering, what is the best long-stay visa in Spain that grants residency?
First of all, you should know that the Spanish visas are tailored for non-EU citizens, meaning that, if you’re a citizen from outside the European Union and you plan to stay for more than 90 days in Spain, you must request this special permit that will allow your legal status in the country.
There are several fast-track visa options, named Cross‐border Mobility Authorizations available for non-EU citizens, which are:
- Golden Visa
- Self-Employment Visa and Residence Permit
- Entrepreneur Visa
- Highly Qualified Professionals
- Foreign Professionals in the Audiovisual Sector (ESA)
All these options have requirements, some more difficult to meet than others, but the most important thing is that the response time in all of them is around 30 days. Making them the fastest visas to acquire if you meet the requirements.
If you have the financial capacity, the best long-stay visa for non-EU citizens in Spain is the Golden Visa, also known as the Investor’s Residence Permit.
The Golden Visa has quickly become the most requested option for residency because of the series of privileges and opportunities it grants the holder.
Benefits and Privileges of the 2023 Spanish Golden Visa:
- An easy pathway to Spanish residency.
- No minimum stay is required. Unlike other visas, you do not have to prove that you live in Spain for a minimum number of days per year.
- Quick resolution (confirmation within 20 days).
- Work permit granted. Either to work for a company or be self-employed.
- Opportunity to obtain Spanish nationality. You can obtain Spanish citizenship in just 2 years if you’re a national from Latin American countries, Andorra, the Philippines, Equatorial Guinea, Portugal or of Sephardic origin. There are other ways to obtain Spanish citizenship through the Golden Visa, contact us to know more about this.
- Allows you to bring your family too.
- Tax benefits.
- Free movement in the Schengen Area.
What are the requirements?
The criteria for the European Golden Visa for Spain are very straightforward:
- Minimum investment of 500,000€ in Spanish real estate. The investment can be in one property or the total of various properties.
- Other types of economic investment include purchasing shares in a Spanish company worth more than 1 million euros.
- Create a business in Spain that must meet the following requirements: Create jobs, must have an important impact on the country or region at a socioeconomic level, or represents a scientific or technological novelty.
- Invest in public debt for 2 million euros.
- Proof of sufficient income to support yourself and any accompanying family members.
- Private Spanish healthcare.
- Necessary documentation. Correctly completed application form, criminal record checks, medical certification, bank statements, etc. If you want to know more about the documentation, get in contact with us and we will gladly assist you.
Golden Visa Process and Requirements: A Client’s Example Story
A few years ago, our immigration professional, Alex Parfen, dealt with a peculiar case of a couple who wanted to obtain Spanish residency through the Golden Visa application.
This couple knew that the Golden Visa was the best visa available for their situation, and they were also aware of the great requirement, a 500k asset investment in Spain.
Now, this is where it gets complicated as this couple had bought 2 houses for 200,000€ and 290,000€ each. They invested 490k euros in Spain. 490k is not 500k.
Where will the other 10k come from? Let’s face it, coming across a 10k home today is very difficult, to say the least.
Alex Parfen together with our immigration team, deliberated and analyzed the situation, they had to come up with the best strategy that would not make our client spend much more money than required, but that met the requirement of those 10k.
And then the idea came up, a garage. In Spain, garages for cars are a good that is commonly sold and bought and their price revolves around 10k.
A garage for 10k was the finishing touch, the 500k investment was done. Our happy couple was catered to finally be residents in Spain and enjoy the beautiful perks that came up with it.
It was certainly a winning story for them and us. Just like our power couple, you too can become a resident of Spain and enjoy all that this country has to offer.
If you too are considering moving to Spain, get in contact with us and we will evaluate your situation, guide you through the process and assist with every legal need that arises.