Country Profile:

 

Spain is a moderately developed country located in southwestern Europe, sharing the Iberian Peninsula with Portugal and Andorra. Spain is a major advanced capitalist economy, with the world’s fifteenth-largest economy by nominal GDP (fourth of the European Union) and the fifteenth-largest by PPP. 

 

 

Capital: Madrid

 

Population: 48,345,223 (2023, 30th)

 

Ethnic Groups: 87.1% Spanish

 

Area: 505,994 km² (51st)

 

Offical Language: Spanish

 

Currency: Euro (€) (EUR)

 

GDP per Captial: $50,471 (37th)

 

How To Immigrate To Spain:

 

As a top global destination, Spain is the world’s second most popular country for tourism, welcoming around 80 million international visitors every year. Foreigners can reside in Spain for an extended period through various means, such as the Golden Visa with a minimum investment requirement of 500,000 euros, the Non-Lucrative Visa with a minimum annual income requirement of 28,800 euros, the Work Visa, the Entrepreneur Visa, and the Digital Nomad Visa with a minimum monthly income requirement of 2,160 euros.

 

Golden Visa:

 

The Spanish Golden Visa, also known as the Investor Visa, is a program that grants overseas investors the opportunity to acquire long-term Spanish residency. This can be achieved through these four different investment options:

 

Investing €500,000 in publicly issued real estate;

 

Or, investing €1,000,000 in local company shares;

 

Or, depositing €1,000,000 in Spanish banks or other financial institutions;

 

Or, investing €2,000,000 in government bonds.

 

To qualify for the Golden Visa, applicants must be above 18 years of age, have made one of the aforementioned investments, hold valid Spanish health insurance, and demonstrate that they have enough financial resources to sustain themselves in Spain, aside from their investment. They must also have no criminal history or record of Schengen visa refusal.

 

Required documents for this process typically include a valid passport, two passport-sized photographs, a filled-out Spanish long-term residence visa application form, proof of initial investment, proof of local residence, a no criminal record certificate, proof of financial capability, a proof of purchase of health insurance, and a medical examination certificate.

 

The application process for the Golden Visa requires investment first, followed by a visa application, and the general procedure is as follows:

 

1. Initial Investment: Applicants need a valid visa to enter Spain to make the initial investment.

 

2. Visa Application: Within three months of making the investment, applicants can prepare all necessary documents and submit the Golden Visa application to a Spanish consulate abroad. This can be done independently by the applicant or through an immigration lawyer or agency.

 

3. Visa Approval: After the visa is granted, applicants must travel to Spain to provide their fingerprints and have their visa converted into a residence visa.

 

Dependents who can accompany the main applicant include the applicant’s parents, spouse, children under 18, and economically dependent children over 18.

 

The residency requirement for the Golden Visa is only one day a year. The visa is valid for one year and can be converted into a 2-year residence permit upon expiration. As long as the investment is maintained, the visa can be renewed unlimited times.

 

Entrepreneur Visa:

 

The Spanish Entrepreneur Visa is valid for a year and allows for unlimited renewals. As part of the application process, prospective holders need to provide a robust and innovative business plan for scrutiny by appropriate government bodies. The decision for annual renewal is contingent upon the performance of the business.

 

Non-lucrative Visa:

 

The Spanish non-lucrative visa is a renowned global program that offers passive income visa opportunities to non-European Union citizens. It targets individuals with stable sources of passive income, such as capital gains or pensions, enabling them to reside in Spain without a work obligation.

 

The financial criteria for the non-lucrative Visa fluctuates annually but generally mandates an income that is roughly four times the IPREM level, which is Spain’s minimum wage. This corresponds to a monthly income ranging between €2000 and €3000. Importantly, income from rentals is not considered in this calculation. As of 2023, applicants can meet this prerequisite with a bank deposit of €28,800 (an additional €7200 per annum is required for each dependent).

 

Apart from this, applicants must satisfy fundamental requirements, including possessing good health, having no criminal record, and procuring commercial insurance.

 

The non-lucrative Visa is valid for three and a half months, and upon arrival in Spain, visa holders can convert it into a one-year non-lucrative residency permit. The second and third permit issuances last for two years each. Both renewals require the visa holder to live in Spain for at least 183 days each year, extending for a total of five years (at which point you can apply for long-term residency). Holders of the Non-Lucrative Visa cannot work locally, but after the first year, they can convert their visa to an work visa or self-employed work visa.

 

An essential point to note is that, during the two-year renewal, visa holders must provide proof of sufficient funds to sustain their income for two years, equating to €57,600 (an extra €14,400 is needed for each additional dependent).

 

The required application materials include: a completed visa application form; a passport that has been renewed within the last ten years, has over one year of validity, and at least one blank page; two passport-sized photos; medical certificate; proof of purchase of valid local health insurance in Spain; a no criminal record certificate issued within the last three months; a Spanish NIE number (which can be applied for at the local embassy); proof of passive income; proof of relationship between the main applicant and dependents (marriage certificate, birth certificate, etc.).

 

The entire application process must be done offline. The general process is as follows: make an appointment with the Spanish Consulate overseas–prepare all necessary documents (application form, NIE number can be obtained from the consulate)–go to the consulate on the appointment day to submit materials–interview with the visa officer–submit fingerprint information, and pay the visa fee. Once the visa is granted, the visa holder needs to collect their foreigner identity card from the foreign office in their region within a month of arriving in Spain.

 

Although the Non-Lucrative Visa fee varies based on region and time, the current cost stands at €80(€123 for USA citizens, €507 for Canada citizens). The processing period could extend up to three months but could be as short as two to five weeks.

 

The main applicant can include their parents, spouse, children under 18, and economically dependent children over 18 as accompanying dependents.

 

Digital Nomad Visa:

 

In January 2023, the Spanish government introduced a new digital nomad visa program. The visa is valid for one year. The financial requirement for applicants is a monthly income that is twice the Spanish minimum wage, which is approximately 2160 euros. If there are accompanying secondary applicants, the monthly income requirement increases (an additional 75% for the first secondary applicant, and an additional 25% for every subsequent secondary applicant).

 

However, currently, this visa requires applicants to be self-employed and have a company that has been established for over 12 months. The clients of the company can only be corporate clients, not individuals.

 

This visa does not have minimum residence requirements. However, if the applicant wishes to renew the visa, they must reside in Spain for more than six months each year.

 

Required documents include: a completed application form; a passport valid for more than one year with two blank pages; two passport-sized photos; remote work certification; income proof; proof of company established for over one year and client proof; professional qualification or resume; proof of medical insurance covering Spain; proof of no criminal record in the last five years; proof of relationship between main and secondary applicants, etc.

 

Visa applications must be done in person. You need to prepare all the materials and make an appointment with the Spanish overseas consulate to complete the visa application.

 

You can schedule an application via EMAIL. Notification of visa approval will also be sent by email.

 

The processing time for the Spanish digital nomad visa is 15 to 45 working days, with a one-year validity period, and it can be renewed for up to three years. The visa can lead to permanent residency in Spain.

 

It’s important to note that this program is not yet running stably. The specifics of the visa change every few weeks. Continuous updates will be provided as changes emerge.

 

Self-employed Work Visa:

The Self-Employed Work Visa in Spain requires applicants to provide a business plan and sufficient proof of financial resources to work in Spain without relying on Spanish resources.Holders of this visa are obliged to make a monthly payment that starts at €60 and gradually escalates to €280. They must also contribute to social security and pay taxes on their personal income.The self-employed visa only covers the individual, family members cannot accompany them. Holders of the self-employed visa can enjoy government insurance and do not need to purchase commercial insurance.

 

The documents needed include: completed application form, passport, resume, business plan, proof of financial resources, proof of fee payment, etc;

 

Applicants must visit the Spanish embassy to submit these materials and participate in an in-person interview. Typically, the visa fee stands at €250, and the evaluation process takes approximately six months.

 

Work Visa:

 

Holders of the EU Blue Card can work and live freely in Spain.

 

The Spanish government issues various work visas including: the Au Pair visa for nannies; business visa; self-employed visa; and working holiday visa.

 

A standard work visa lasts for one year and requires the support of an employer contract, with the possibility for continuous renewals.

 

The working holiday visa is only open to citizens of Australia, Canada, Japan South Korea and New Zealand.

 

Taxation:

 

Foreigners who legally reside in Spain for at least 183 days per year automatically become local tax residents.

 

Even if a foreigner is not a tax resident in Spain, if they purchase a property there, they must pay the relevant municipal taxes, rental taxes, and other taxes each year. Generally speaking, the rental tax for leasing out a property purchased in Spain is 24.75%.

 

Naturalization:

 

Foreigners can apply for permanent residency after living there for 5 years (with the total time spent abroad not exceeding 10 months, and no more than 6 months abroad per year; the time spent on a student visa is counted as 50%). Permanent residents need to spend at least 1 day a year in Spain to maintain their status, and they can access the benefits of the government’s healthcare system.

 

After legally living in Spain for 10 full years, spending at least 183 days there each year, reaching a basic proficiency level in Spanish, acquiring a foundational understanding of Spanish history and culture, having no criminal record, and having paid taxes legally, foreigners can choose to naturalize as Spanish citizens.

 

Passport Power:

 

Spain does not recognize dual citizenship. Spanish passports are ranked third globally, allowing holders to travel freely (via visa-free or visa-on-arrival) to a total of 189 countries and regions worldwide, including most parts of the Americas, Oceania, and Europe.

 

 

Useful Links:

 

Spain Directorate-General for International Trade and Investment: https://prie.comercio.gob.es/en-us/Paginas/index.aspx

 

Spain Ministry of Interior Affairs: https://www.exteriores.gob.es/es/Paginas/index.aspx