Despite the difficulties that Brexit presents the dream of living and working in the EU is one that many UK citizens are intent on pursuing. Spain in particular is a popular destination for many, from those looking for retirement in Spain to working professionals. As well as access to passport-free living and travel in Europe, the country offers a range of lifestyle benefits for expats including sunny, balmy weather and acclaimed beaches and resorts, vibrant cities, delicious food and friendly, welcoming locals.
For those planning to embark on residency in Spain there are a range of visas available and ways of applying for residency in Spain. Here’s what you need to know.
Sunny Spain is a hugely popular destination for retirees and the non lucrative visa is one of the best options for those who can demonstrate they receive passive income via a pension, investment, rental income or savings. Holders of the visa cannot work in Spain or their home country, so this is a great option for those planning on retirement.
Criteria for this visa is built on demonstrating self-sufficiency through passive income – currently a minimum of €27,792.92 per annum (and more for accompanying family members).
This residency permit is valid for one year, and can be renewed for two successive two-year periods, after which you can apply for permanent residency.
If you’re in the position to make a property investment when moving to Spain then a Golden Visa (commonly referred to as the Spain Schengen Visa) could be the right option for you. The visa offers residency via investment, typically the purchase of real estate worth €500,000 or more.
Obtaining a golden visa in Spain is a good option for expats in Spain who still plan to spend substantial amounts of time in the UK or travelling, as the Spain UK visa requires just one visit to Spain every year. It’s also a good option for those looking to eventually achieve Spanish citizenship – permanent residency can be achieved after five years, and citizenship after 10 years.
These are more specialised residency visas that may suit entrepreneurs or working professionals who plan on emigrating to Spain.
The Entrepreneurs’ Visa is designed for those who want to establish a pioneering company or business that promotes Spain’s socio-economic development – usually technology related.
The Highly Qualified Professional Visa is designed for employers who want to offer individual employment in Spain. It can be a challenging application process as employers must show there is a dearth of candidates available within the EU to fill the role.