spanish golden visa and non lucrative visa

About the Golden Visa and the Non-Lucrative Visa in Spain …

Understanding the differences between the Golden Visa and the Non-Lucrative Visa is essential for non-EU nationals considering a move to Spain. Both visa options offer pathways to residency but cater to different needs and financial circumstances. The Spanish Golden Visa, introduced to attract foreign investment, requires a substantial financial commitment, such as purchasing real estate or investing in Spanish companies. This visa is ideal for investors who wish to live and work in Spain with minimal residency requirements.

On the other hand, the Non-Lucrative Visa is designed for individuals who can support themselves financially without engaging in any work or business activities in Spain. This visa necessitates proof of significant financial resources but does not allow for employment or business operations. It’s a popular choice for retirees or those looking to enjoy Spain’s lifestyle without the need to work.

Both visas provide pathways to permanent residency, but they differ significantly in terms of investment requirements, work permissions, and residency obligations. Understanding these differences will help you choose the right visa to match your lifestyle and financial situation, ensuring a smooth transition to life in Spain.

So, in a nutshell, what are the main differences between the Golden Visa and Non-Lucrative Visa?

Spanish Golden Visa:

  • Purpose: Aimed at attracting foreign investors.
  • Investment Requirement: Requires a significant financial investment, such as:
    • €500,000 in real estate.
    • €1 million in shares of Spanish companies.
    • €1 million in bank deposits in Spanish financial institutions.
    • €2 million in Spanish government bonds.
  • Work Permission: Allows the visa holder to work and conduct business in Spain.
  • Validity and Renewal: Initially valid for 1 year (2 years if applied for in Spain), renewable every 2 years, and after 5 years, can apply for permanent residency.
  • Family Inclusion: Includes spouse, children under 18, and dependent parents.
  • Residency Requirement: No minimum stay required* to maintain the visa *(although restrictions apply for permanent residency and citizenship).
  • Application Processing Time: Typically faster, around 10-20 days.
  • Tax Residency: Not automatic; must spend more than 183 days per year in Spain to be considered a tax resident.

Spanish Non-Lucrative Visa:

  • Purpose: Designed for non-EU nationals who wish to reside in Spain without engaging in any professional or business activities.
  • Financial Requirement: Must demonstrate sufficient financial means to support oneself, typically:
    • €27,115 annually for the main applicant.
    • Additional €6,778 per year for each dependent.
  • Work Permission: Does not allow the visa holder to work or conduct business in Spain.
  • Validity and Renewal: Initially valid for 1 year, renewable for 2 years at a time, and after 5 years, can apply for permanent residency.
  • Family Inclusion: Includes spouse and children under 18, as well as dependent children over 18 and dependent parents.
  • Residency Requirement: Must stay in Spain for at least 183 days per year to maintain the visa.
  • Application Processing Time: Typically longer, ranging from 1 to 3 months.
  • Tax Residency: Automatically becomes a tax resident after spending more than 183 days per year in Spain.

Which Visa should you apply for?

Navigating the intricacies of Spain’s visa options can be challenging, but understanding the differences between the Golden Visa and Non-Lucrative Visa is the first step toward making an informed decision. Whether you’re an investor looking to benefit from Spain’s business opportunities or someone seeking to enjoy the vibrant Spanish lifestyle without working, choosing the right visa is crucial for a smooth transition.

To ensure a hassle-free application process and to maximize your chances of success, it’s advisable to seek expert guidance. At Move to Malaga, we offer comprehensive support and personalized advice tailored to your specific needs and financial situation. We have a team of experienced professionals who will assist you every step of the way, from preparing your application to meeting all the requirements and ensuring compliance with Spanish immigration laws.

Contact us today to start your journey towards obtaining the right visa and enjoy a seamless move to Spain.

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non lucrative spanish visa faq