As we mentioned in the previous article (READ HERE), applying for Spanish residency in 2022 has become a lot more complicated for UK Citizens, thanks to Brexit. All non-EU citizens require visas for moving to Spain. Deciding which visa to apply for can appear complicated however, in most cases, it is pretty straightforward.
In this article, we are going to introduce you to the different visas for moving to Spain and share tips on how to decide which is the best option for you.
Types of Visas for Moving to Spain in 2022:
The Spanish Non-Lucrative Visa can be applied for by any third-country national who wishes to reside in Spain, without engaging in any work or professional activity. This visa does not apply to EU citizens or to nationals of countries to whom EU law applies. You must hold a valid British passport, and have proof of residence in the United Kingdom. The NLV is also referred to as a “retirement visa”. It is a fairly simple procedure, providing you are organised and ensure you meet all of the requirements.
This visa is for you if:
- You plan to retire to Spain
- You would like to spend a year in Spain with a view to obtaining a work permit the following year
- You want to ensure you are in the best location before investing in property and applying for the Golden Visa
This visa is valid for one year. After a year, it is renewable for a further two years. The renewal application must be submitted 60 days before, or 90 days after, the expiration of the visa.
In a previous article, based on a lot of research, I share my top tips for a successful NLV application in the United Kingdom. (You can read it HERE)
For details and tips on how to apply for your Non-Lucrative Visas for moving to Spain visit our dedicated website: Non-Lucrative Visa Spain
Originally launched to attract affluent overseas nationals from countries such as Russia, China, and the United Emirates, the Spanish Golden Visa scheme is now a popular method for UK nationals to obtain Spanish residency. It is not however without its pitfalls!
The investment of €500,000 minimum has to be in Spanish property. It is, however, possible to buy a single property or a portfolio of properties. The latter option is a clever way to generate income from your investments to support your day-to-day living (if that is your plan).
What is more good news is that people from outside the European Union who have already bought property can count that against the full amount needed to get their Golden Visa. For example, if you have already bought a property for 300,000 euros you can now buy another for 200,000 euros in order to qualify for the Golden Visa.
We recommend using a carefully selected law firm to process your visa application. The timing and accuracy of each application are paramount to a successful outcome.
Of all the visas for moving to Spain, the work visas are the most complicated and definitely require the guidance and assistance of a qualified lawyer. Subject to your employment situation, you may qualify for an entrepreneur visa, a highly-skilled professional visa, or the new startup visa.
In a nutshell:
- The Highly Skilled Professional Visa enables citizens from outside the European Union to live and work in Spain legally, as long as they receive a job offer in a Spanish Company in a management position or in a highly qualified or technical position.
- The Entrepreneur visa, possibly the most challenging option for many, is designed for non-EU individuals wanting to set up a company in Spain. You must adhere to strict guidelines that demonstrate an innovative project aligned with the interests of Spain. As an example, your project must:
- create new job positions and be a positive stimulus for the general Spanish economy.
- create good investment opportunities.
- operating process must involve a high level of technology (for example, use algorithms or machine learning) and enhance the socio-economic development of Spain.
- be in the possession of patents, client recommendation letters.
At the time of writing this article, there are many people hanging onto the hope of the promised StartUp Law (of much interest to Digital Nomads) expected to come into force this year (possibly Spetmeber 2022).
- The draft Law includes important tax measures, removes bureaucratic obstacles, and makes the procedures to create and invest in startups more flexible. It also contains important measures to attract international talent and recover domestic talent, encouraging the establishment of remote workers and digital nomads in Spain
- Significant tax incentives are established for startup companies, investors, and employees, including the EU’s most beneficial treatment of returns on stock options
- The procedures for setting up a company are streamlined into just one step and can be completed online without notary or registry expenses. A one-stop window is also created for the declaration of the innovative nature of the company and access to the benefits afforded by the draft Law
- Significant tax measures are introduced, such as a reduction in Corporate Tax and in Non-Resident Income Tax (which drops from 25% to 15%) for four years, as well as interests and deposit-free deferral of tax debt payments
- In order to attract talent, the tax regime has been improved for NonResident Income Tax. This is applicable to executives and startups employees, investors, and “digital nomads” -people who temporarily settle in Spain and work remotely- and their families, who are eligible for a special visa for up to 5 years. The draft Law encourages talent return by reducing the previous non-residence period in Spain to 5 years in order to have access to this special regime
You can read the press release HERE
Which Visa Should You Apply for?
Here are a few pointers to help you decide:
- If you intend to work in Spain, you cannot apply for a Non-Lucrative Visa. You can opt for a Golden Visa or a Work Visa.
- However, there is a possibility to move to Spain on the NLV and then convert to a working visa. This requires research, planning, and the assistance of a qualified lawyer.
- If you have the funds to invest at least 500.000€ in Spanish property then the Golden Visa is your best option. This visa allows more freedom and also the ability to work in Spain if you so wish.
- To better understand the differences between the Non-Lucrative Visa and the Golden Visa, watch this video: HERE
- Before investing your money in Spanish property to obtain a Golden Visa I also recommend you watch this video: Golden Visa Property Purchase: 7 Tips for a Successful Visa Application
- If you are planning on applying for a work visa of any type, contact us and we will recommend a specialised lawyer to guide you.
NOTE: Please be aware that rules and regulations are constantly changing and we strongly recommend using a qualified and experienced lawyer to assist you in applying for the Golden Visa or any kind of Work Visas for Moving to Spain!