Spain may be one of the best countries to live in. Pleasant weather conditions, delighting gastronomy, and an overall enchanting vibe. Therefore, the Spanish territory may be the right choice for those foreigners considering living abroad for a long period of time.
But, which is the best residence permit for me? If you have sufficient funds and are not planning to undertake any type of professional activity, the Spanish Non-lucrative Visa is the best option for you. This residence permit will enable you to stay in Spain during 1 year, with the possibility to expand your stay with the renewal process.
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There are two main requirements you will need to fulfill in order to get this permit:
No, or at least not in all the cases. You can have the money in any financial institution located in your origin country. The only thing you must make sure that the main application is the holder of the account in the banking institution.
Nevertheless, bear in mind that in countries such as China or Russia it is required to have the money in a Spanish bank account.
Yes. And, actually, that is something many foreigners do. They apply for their non-lucrative visa, and once the first year is over and you have renewed, they transition into a work permit.
And the reason behind is simple: it will be much easy to get a work permit in Spain after having the non-lucrative residence than starting from scratch. And you can get a work permit as an employee or as a self-employed individual.
There are two different steps in the general application process.
First of all, you will need to submit all the required documentation to the Spanish consulate located in your country of origin. You will get a positive or negative response from them in 2 to 3 months.
After a positive response, you will get your visa. That will enable you to travel to Spain in order to register in to any city or town in the country, record your fingerprints and then get your residence permit after 30 days.
Yes. Even though this visa does not allow you to work in the country, you can realize investments. For example, you can invest in stocks or funds in order to get an extra source of income.
No, you can’t. It is not possible to study several years with your student visa and then get the non-lucrative directly.
You will need to go back to your origin country and start the whole application procedure there; making sure you meet all the requirements outlined in this page.
After 1 year in Spain with this residence card, you will need to renew it. This renewal will allow you to stay in the country for 2 additional years. Bear in mind that the renewal application must be submitted 60 days before or 90 days after the expiration of the card.
The requirements are basically the same as the ones for the initial application, but with small nuances. For example, when it comes to demonstrating the possession of sufficient economic means, now you need to demonstrate double the amount (as the renewal is not for one but for two years).
If you want more information, you can access here a complete guide on how to renew the non-lucrative visa.