Introduction to Spanish Long Stay Visas

If you are planning on purchasing a property in Spain and intend to spend more than 90 out of 180 days there then you will need to acquire a Spanish long stay visa. Once you have been in Spain legally for 5 years you are able to apply for permanent Spanish residency. You are then legally entitled to live in Spain for the rest of your life.

There are several different Spanish long stay visas you can apply for depending on your circumstances and how you plan to spend your time in Spain. Some for example allow you to work and some do not.

To be granted a long stay visa for Spain you will have a few steps to complete but first of all you need to meet the criteria.

Below we will outline the criteria for the long stay visas you may want to look at when deciding to buy a property in Spain.

Spanish Non Lucrative Visa

A Spanish non lucrative visa permits you to live in Spain without working or engaging in professional activities. This Spanish long stay visa requires that you have the economic means to support yourself without needing to work in Spain. Some people who may apply for a Spanish non lucrative visa include:

Those looking to retire in Spain
Those planning to work remotely in Spain for a non Spanish company
Those planning to travel back and forth for work outside of Spain
Those who have the economic means without working
Anyone else who wants to spend more than 90 in any 180 days in Spain without working in Spain

As well as proving you have the economic means to live in Spain for the year you must also prove you have public or private health insurance taken out by an insurance company authorised to operate in Spain.

The application process for a non lucrative residence visa is a simple one but note the process must begin in your home country and not after entering Spain. There is a fee of £516 for the application of a non lucrative visa. Please note this is subject to change without notice and is only correct at the time of this article being written.

Once you are granted the Spanish non lucrative visa and you use it to enter Spain you have one month to process the TIE (Tarjeta de Identidad de Extranjero) at the Immigration Office or Police Station. This is a foreigner identity card. You should then begin your application for a non lucrative residence permit. This permit is then renewable.

Proof of Economic Means

The required economic means for a Spanish long stay visa is calculated using the Spanish IPREM; a Spanish index which gives an income benchmark.

To apply for a Spanish non lucrative visa you must be able to prove that you have 400% of the IPREM in your bank account annually plus an additional 100% for each additional family member. The IPREM for 2021 is €564.90 per month.

400% of this equates to a monthly income of at least €2,259,60 or a total of €27,115.20 annually. If there are two of you applying for the visa then this increases to 500% which equates to €2,824.50 per month or €33,894 annually.

Under this Spanish long stay visa, if you have enough in your account to cover the year then there is no need to prove you have any kind of monthly income. You just have to prove that you have or will have enough to cover the whole year.

Supporting documents when applying for your non lucrative visa may include bank statements, a letter of employment outside of Spain stating your salary, pension documents and so on.

You can find more information about the Spanish non lucrative visa application process and what supporting documents will be required on the Consulate of Spain in London website. Please scroll down to find the document in English.

Spanish Investors and Entrepreneurs Visa

Also known as a Spanish golden visa, this type of Spanish long stay visa – an investors and entrepreneurs visa is designed for those making an investment in Spain including purchasing a property. The property must be worth more than €500,000 and be purchased without the help of financing for you to qualify. You would also qualify if you were to purchase several properties totalling over €500,000. The property must have been purchased after 2014.

The Spanish golden visa only requires that you visit Spain at least once a year and once granted it can be renewed. It is also very easy to bring your family to Spain with you under this visa.

You must also be able to prove you have sufficient economic means to support yourself and any family members who will also be applying for residency. This equates to the same as for the Spanish non lucrative visa above; 400% of the IPREM plus 100% for each additional family member.

If you have enough in your account to cover the year then there is no need to prove you have any kind of monthly income. You just have to prove that you have or will have enough to cover the whole year.

This Spanish long stay visa requires that you have public or private health insurance giving you full coverage in Spain covering you for the full first year as a minimum.

There is a fee of £1,623 for the application of an investor visa. Please note this is subject to change without notice and is only correct at the time of this article being written.

You can find more information about the golden visa application process and what supporting documents will be required on the Consulate of Spain in London website. Please scroll down to find the document in English.

Spanish Highly Qualified Professionals Visa

This long stay visa for Spain provides a work permit and therefore allows you to live and to work in Spain providing you will be working in a qualified or managerial position.

It is recommended that to apply for this Spanish long stay visa you should have a masters degree or a PHD as well as the job offer itself. The company or institution you will be working for will also be taken into consideration as well as what you will be doing for the company exactly and the salary on offer. For a managerial position you will be required to be earning a minimum salary of €54,000. This is lower for intellectual professionals such as scientists who must be earning a minimum salary of €40,000.

The professional person can be accompanied by their spouse and children who will be expected to complete individual applications.

There is a fee of £1,623 for the application of a highly qualified professionals visa. Please note this is subject to change without notice and is only correct at the time of this article being written.

You can find more information about the highly qualifies professionals visa application process and what supporting documents will be required on the Consulate of Spain in London website. Please scroll down to find the document in English.

We understand the above may sound like hard work. However at Movehappy we want your experience of buying property in Spain to be a happy and stress free one. We work with a team of experienced accountants and lawyers who will assist you at every stage of your buying journey. They will help with the Spanish long stay visa application process as well any other applications and processes you may need to complete after arriving in Spain. There really is nothing to worry about.

If you have any questions about Spanish long stay visas, places to buy in Spain or anything else at all please do not hesitate to contact us. We are always here to help!