Two ways to get a visa for Spain

November 30 02:18 2021

Spain is a country where three things are never lacking: sun, sea and good food. With these virtues it is no wonder that it is one of the most desirable residency destinations in the world.  For those who have already been introduced to the subject and have searched for information, there are two names that I am sure are well known: Golden Visa and Non Lucrative Visa.

Both visas grant a residence permit, however, the requirements for each one are very different.

Non-Lucrative Visa:

The non-lucrative visa in Spain is an authorization that allows non-EU foreigners to stay in Spain for a period of more than 90 days without performing labor or professional activity by demonstrating that they have sufficient economic means for themselves and, if applicable, for the members of their family.

The initial duration of the non-lucrative residence in Spain is 1 year from the date of entry into Spain (Art. 49 of the Foreigners Regulation Royal Decree 557/2011, of April 20). The first and second renewals of the non-profit residence authorization will have duration of 2 years.

Requirements:

• Not to be a citizen of a State of the European Union, the European Economic Area or Switzerland, or a family member of citizens of these countries to which the Union citizen regime applies.
• Not to be irregularly in Spanish territory.
• Not to have a criminal record in Spain and in their previous countries of residence for crimes existing in the Spanish system.
• Not to be forbidden to enter Spain and not to appear as undesirable in the territorial space of countries with which Spain has signed an agreement in such sense.
• To have the necessary economic means to cover the expenses of stay and return and, where appropriate, those of their family members.
• To have a public or private health insurance arranged with an insurance company authorized to operate in Spain.
• Not to suffer from any of the diseases that may have serious public health repercussions in accordance with the provisions of the International Health Regulations of 2005.
• Not to be, if applicable, within the period of commitment not to return to Spain that the foreigner has assumed when taking part in a voluntary return program.

What documentation must be provided?

The applicant must gather a series of documents, which are listed below:

1. Residence visa application form;
2. Current passport-size photograph, with white background, affixed to the application form.
3. Passport recognized as valid in Spain, valid for at least one year;
4. Criminal record certificate from the country of origin or the country or countries in which the person has resided during the last five years;
5. Documentation accrediting that the person has financial means for the period requested;
6. Proof of having medical insurance;
7. Medical certificate;

The place to apply for the Non-lucrative Visa is before the Spanish diplomatic mission or consular office in whose demarcation the foreigner resides with a term of notification of the resolution is of three months.

Golden Visa:

On the other hand, the Golden Visa is a residence permit granted when making an important economic investment in Spain.

This permit allows people and his relatives if they meet the expected age labor regulations to live and work legally in Spain (and also to bring their family), without the need to visit the country more than once a year.  In addition, this visa also allows to his owner to move freely within the Schengen Area.

The type of investment that needs to be done or the requirements are:

• 2 million euros in public debt.
• 1 million euros in shares.
• 1 million euros in investment funds.
• 1 million euros in bank deposits.
• 500,000 euros in real estate. (1 or several properties that add up to that amount).
• Creation of companies.
• Highly qualified professionals

It should also be taken into account that it is possible to buy with encumbrances or charges, but from 500,000 euros the amounts must be free of these. Another important aspect is that it is permitted to purchase through a legal entity.

One of the major benefits of the Golde Visa is that it allows people to travel throughout the Shengen area: Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden and Switzerland. This is undoubtedly one of the visas that provides the greatest freedom of movement.

Once it is confirmed it will be received a visa for 1 year. During this first year, it is mandatory to go to Spain to personally apply for the residence permit and identity card. The residence will last as long as the investment is maintained.

It also highlights the speed of the procedure, which usually takes about twenty days from the submission of the application.

Media Contact
Company Name: Pellicer & Heredia
Contact Person: Tamsin
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City: Alicante
Country: Spain
Website: https://www.pellicerheredia.com/en/

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