Residence permit in Spain

To stay in Spain for a prolonged period of time, longer than the visa, the government offers foreigners the possibility of requesting a residence permit. This request is regulated according to the law “On the rights and freedoms of foreigners in Spain and their social integration”. There are different types and ways to obtain that residence permit.

Golden Visa.

This modality allows foreigners, since 2013, to obtain the permit to stay and work in Spain in case they invest in the country. There are 4 types of investment that would be valid to get the golden visa:

• Investments from 500.00 euros, without mortgage, in residential or commercial real estate;
• Deposits from 1.000.000 euros in a Spanish bank;
• Investments from 1.000.000 euros in investment funds and spanish companies;
• Purchase of government bonds for 2.000.000 euros.

It can be requested both in the country of residence, at the Spanish consulate, and in Spain, as long as the applicant is in the country in a legal situation.

This “Golden Visa” allows its holders to live and work in Spain for a period of two years with the possibility of renewing it. Likewise, there is the option of regrouping close relatives: wife/husband, children, parents, grandchildren.

The investor residence permit provides its holders with many advantages, including:

• It is not necessary to stay in the country continuously for more than 183 days a year to be able to request the renewal of the permit.
• If you stay in the country for a period of less than 183 days, you will not be considered a Tax Resident, which means you will not be required to file a tax return.
• In addition, this modality of permanence also gives the Right to Work.

Residence permit for entrepreneurs (Live and work)

In this case, a person is allowed to present the application for a residence permit to the immigration office based on the forecast of carrying out a business project in the national territory. In other words, opening a company contributing to the Spanish economy. For this request you will need:

• Detail a business plan with an exact description of the activity and its economic forecasts.
• Contribute to the creation of employment in Spain
• Contribute to the development of the economy and R&D in the country.

Non-lucrative residence permit. (Without right to work)

This modality allows applying for the residence permit in Spain by declaring the solvency to be able to stay in the country, this would be a 400% IPREM (cost of living) and a 100% for each regrouped family member. It begins with a duration of one year and the possibility of being extended twice for another two years, reaching a five-year residence permit, which later becomes indeterminate.

In order to obtain this authorization, either the possession of a property in Spain must be declared, or a rental contract that provides a home to the applicant and his or her family members. In this case, the authorized person does not have a work permit in the territory of the country.

Residence permit for Family Regrouping

This option allows the person who is already in possession of the residence authorization to regroup their relatives in their place of residence. The permit of said relatives will be of the same duration as the one of the regrouping person and the necessary documentation will be requested on its basis.

Residence permit for students

The students will be able to stay in the country for the duration of their studies and will be given a part-time work permit, which doesn’t have to interfere with their studies. In order to obtain it, it will be necessary to present a certificate of knowledge of the language and of admission to an educational institution, as well as the availability of funds for accommodation and study.

Large duration residence permit

It can be requested by those residents that have been remaining legally in Spain for 5 consecutive years, or who are married to a Spanish citizen. It will offer it’s holders the same rights as citizens of Spanish nationality, excluding the right to vote in elections, participate in military service or work in police agencies.