For British nationals who wish to reside in Spain there are two main options.
Non-Lucrative visa (“NLV”) is mainly aimed at those who are retired, although being retired is not a condition for applying. A Golden visa (“GV”) is for those who have more than 500.000€ to invest.
There are many similarities in the documentation which one needs to apply for either an NLV or a GV. Both come with economic, criminal record check, health check and medical insurance requirements. If applying for an NLV an individual will need to show at least 28.000€ in income and/or assets for themselves and a further circa 600€ per month per dependant. If applying for a GV one needs to evidence an investment in Spain of at least 500.000€. This minimum investment is if one owns property in Spain.
A holder of an NLV must spend at least 183 days per year in Spain. Under Spanish law any individual who spends 183 days or more in Spain will be deemed to be tax resident in Spain.
NLVs must be applied for at an appointment at a Spanish Consulate. GVs, depending on the circumstances can be applied for from Spain or at a Spanish Consulate.
At a Spanish Consulate appointment, one must present their original documentation in person and leave it with the relevant consulate to consider their application. Decisions on applications can take up to three (3) months for a decision to be issued.
It is important that applications are made correctly; if your application is refused, you will not be reimbursed any of the applicable visa application fees.
If successful and once you have the visa (visado) in your passport you come to Spain to have your visa formalised in the form of getting a foreigner´s ID card, known as the TIE.
Each individual’s case is different and at De Cotta Law you can speak to Spanish abogados & qualified English Solicitors. Call +34 952 527 014 or email [email protected] for further advice. Sam Baker is our specialist in this area and a confidential call can be arranged.
For our Tenerife, Canary Islands’ office please call on +34 922 719 520 or email on [email protected]