Types of Visa Explained: Golden Visa - Non Lucrative Visa - Nomad Visa
GOLDEN VISA – What is it?
•It’s an investment visa for non-EU citizens that allows you to stay in Spain for up to 183 days in a 1 year period, and be classed as a "non-resident” for tax purposes.
•You can work in Spain, but if you stay for more than 183 days you must become tax resident.
•It allows you to travel, visa free, throughout the Schengen area for up to 90 days in 180.
Main Requirements
•Minimum investment in real estate of 500,000 euros, per name on the title deed.
•If you purchased a property after October 2013, you can apportion this toward the 500,000 euros, providing it was bought with one name on the title deed.
•Main applicant must have enough funds to support him/herself.
•This is 28,200 euros per year and 7,200 euros per year per family member.
•Private Health insurance valid for 1 year with a company authorised to operate in Spain.
•Criminal record check certificate issued by country of residence for last 5 years.
How to apply for a Golden Visa
•After your property purchase, stay in Spain and engage a professional to process your application.
•You will be granted 1 year residency, initially, which can be renewed for another 2 years provided you keep the property. Thereafter you can apply for permanent residency.
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NON- LUCRATIVE VISA (NLV) – What is it?
•It’s a residency visa for non-EU citizens who can support themselves economically without working.
Who is it aimed for?
•Retirees
•Your family
What are the benefits?
•You can live in Spain and apply for a 1 year residency permit (TIE) which can be extended up to 4 more years so long as you meet the residency requirements.
•After living continuously for 5 years, on your third renewal, you can request a permanent residency permit which will be valid for 10 years.
•You can also visit other EU countries with no time limit.
Main Requirements.
•Proof of income to be provided with copies of your invoices to your clients and enough funds to support yourself and your family (bank statements)
•Main applicant 28,800* euros per year and a further 7,200€ for each family member thereafter (2023 rates)
•You must have public or private health insurance valid for 1 year with an entity authorised to operate in Spain. (No travel insurance with medical assistance will be allowed)
•Criminal record check issued by the country of residence for the last 5 years and 3 months prior to application. (Must be translated into Spanish, legalised or apostilled)
•Medical certificate stating you do not suffer any illnesses which may be of grave danger to public health in accordance with the International Sanitary Regulations 2005.
•Medical certificate must be issued by a Doctor, translated into Spanish, legalised or apostilled, within 3 months prior to application.
•You must stay in Spain for a minimum of 183 days in order to renew.
•You are not allowed to work.
•You must become Tax Resident.
What about Health Insurance Cover?
•We can recommend a reputable Health Insurance Broker who will discuss your options.
•If you are a UK national with UK retirement pension, you can use your UK NHS cover by way of an S1 form, after the first year of living in Spain.
•For more information on the S1 form go to www.gov.uk and search "S1” to read more.
How do I apply for a NLV?
•You need to make an appointment at the Spanish Consulate Office for your region/country.
•You need to attend the appointment for an interview.
•You need to submit all the documents they require including your passport.
•It can take up to 3 months to be approved.
•With your visa you have 3 months to enter Spain and 1 month from entry to apply for your TIE at the Immigration Office or Police Station, depending on which region you are in.
•For renewal of your visa, it’s advisable to use a company to assist you.
*Amounts can be subject to change.
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NOMAD VISA – What is It?
It’s a residency visa for non - EU citizens
Allows you to work remotely from Spain, thereafter you can apply for long term residency. It extends to the principal and their immediate family members. Note that this visa is not available to anyone who has held Spanish residency in the previous five years.
Why is it beneficial?
You only pay 24% tax on income up to 600,000 euros for the first five years. Beyond that normal tax rates apply.
From 600,001 euros you pay 47%
International assets are tax exempt.
Allows you to travel throughout the Schengen zone.
You are classified as a "non-tax resident” so income and assets held abroad are tax exempt.
What are the conditions for work?
For employees:
You must be working for a multi-national enterprise for a minimum of 3 months and your employer has been in business for a minimum of 1 year. Relevant professional qualification or 3 years relevant work experience.
Have a contract of employment and a letter from the company stating you can work remotely.
You can also work for a Spanish company providing the income is not more than 20% of your total income.
Self-Employed/freelancers:
More than 80% of your income must be derived from clients outside of Spain and invoicing several clients, not just one single client.
Proof of at least 3 months relationship with the clients or companies and proof that they have been in business for a minimum of 1 year.( certificate of incorporation) You must be able to state the terms and conditions of the remote work including explicit confirmation from your clients to work remotely from Spain.
Prove a freelance relationship with your clients for at least 3 months before application for the visa.
You can also work for a Spanish company providing the income is no more than 20% of your total income.
Whether Employed or Self-Employed, you must have proof of a minimum of 3 years work related experience or a formal academic qualification, i.e degree from a University, Business School or Vocational programme.
What about Family?
Your spouse can work in Spain.
Children until 25 years of age.
What else do you need in order to qualify for the Nomad Visa?
Marriage certificate issued in the 3 months prior to application, apostilled and sworn translation.
Police certificate (in UK:ACRO) showing clean record for all applicants over 18, apostilled and sworn translation.
Long form birth certificate for all children, apostilled and sworn translation.
Have sufficient funds to support yourself and your family.
Main applicant – 30,240* euros per year
1st additional family member + 11,340 euros. Each additional family member + 3,780* euros per year
Spanish health insurance valid for 1 year, Public or Private, from an entity authorised to operate in Spain. (Travel insurance is not sufficient)
Criminal record check issued by the country of residence for the last 5 years.
You should not have been resident in Spain for the last 5 years.
A1 certificate from HMRC (UK)
CV/Resume
How do I apply for a Nomad Visa?
if the application is done from Spain, using the fast track application process, your residency permit will initially be issued for 3 years (unless you request for a shorter period). You can also apply at the Spanish Consulate in your country of origin and, if successful, will be initially granted a visa for 1 year. This can be modified to a 3- year residency permit.
You can apply in Spain, at the immigration office online, and if successful will be granted a visa for 3 years, renewable for 2 years. When applying in Spain it is advisable to use a lawyer or gestor.
*Amounts can be subject to change.
Please note that this information was last updated on the 31st Oct 2023.
If you would like further help and advice regarding a property purchase or obtaining a Visa, please contact Sally Bloom.