It is not only the Golden Visa that allows you to be resident in Spain, a cheaper but longer procedure, the non-profit residence visa, allows you to reside there all year round. Find out more about this procedure in this article. You can also read this article about Spanish visa 2021 to familiarize yourself with the different types of Spanish visas. The British multidisciplinary approach is ditched to avoid all types of Spanish and obedient visas.
Why Reside in Spain?
Residing in Europe, and in Spain in particular, is often the dream of many extra-community (non-European) families.
There are many reasons for wanting to live in Spain: children’s studies, the sun, the way of life, low prices, safety, beaches, gastronomy, cultural richness, geographical diversity, matches between Real and Barça, etc.
In practice, there are two legal solutions for accessing a residence in Spain for non-EU families:
- The Golden Visa allows you to obtain a resident card for you and your family for a real estate investment of 500,000 euros
- And for those who cannot afford this investment, the visa for non-profit residence, more affordable but a little longer to obtain.
The Faster but Very Expensive Golden Visa!
For the Golden Visa, you must invest 500,000 euros in real estate in Spain. And you and all your family members (spouse and children) get a residence visa, then a residence permit. The duration of obtaining the Golden Visa is a maximum of 2 months.
The difficulty is financial: having 500,000 euros available to invest is not within everyone’s reach! There is another less expensive solution: it is the non-profit residence.
What Is Non-Profit Residency?
This is a residence permit requested by non-EU foreigners (outside the European Union, European Economic Area, and Switzerland) from the Spanish consulates in their country of origin, which authorizes them to reside in Spain without exercising a professional activity. This applies to both the principal applicant and his family since they can also live in the country with him. And therefore the children will be able to go to school in Spain.
The non-profit residence visa is granted within 3 to 6 months after submitting the complete file to the Spanish consulate in your country of residence.
This visa allows you to stay in Spain for one year from your entry into Spanish territory. You then have the option of renewing it twice for 2 years. This will last until you get permanent or long-term residency (after 5 years).
It does not allow you to exercise a professional activity in Spain. In other words, you cannot work as a self-employed person or for a company operating in the country.
But you don’t need to invest in the country to get a visa. It is therefore much more accessible than a Golden Visa.
The only thing you need to worry about is having enough means to support yourself and meet the demands of the authorities. If you can prove that you have sufficient funds and that your stay in the country will not cost the government anything, you will be able to get this residency visa.
Who Is This Visa For?
Although it does not allow you to work, it is one of the most requested visas. It is ideal for:
- Foreigners who want to retire in Spain.
- Foreigners with enough monetary funds to meet their needs in the country without working.
- All those who wish to stay in Spain without working (to visit, discover or enjoy the country) in their first year, but who after a year want to resume a professional activity. Thus, the non-profit visa is ideal because it allows you to apply for a work permit afterward.
- Have your family with you
- Studies in Spain for your children
- Obtain a long-term visa and even the Spanish nationality
- You can invest
- Possibility of training and paid internships
- Work abroad
- No need to invest heavily to get the visa
- You can travel all over Europe
What Are the Conditions for Obtaining a Non-Profit Residence Visa?
The application for non-profit residency is normally accepted if you meet the following conditions:
- Not a citizen of a state of the European Union, of the European Economic Area, or of Switzerland, nor to be a relative of citizens of those countries to which the status of citizen of the Union applies.
- You must not be in Spain illegally.
- No criminal record in Spain and the previous countries of residence for crimes existing in the Spanish system.
- Not banned from entering Spain and not to be considered banned from staying in countries with which Spain has signed an agreement to this effect (in particular in the countries of the Schengen zone).
- Have sufficient economic means to cover the costs of stay and return for you and your relatives.
- Have a health insurance policy taken out with an insurance company authorized to operate in Spain. Coverage must be total without deficiency or co-payment.
- Not suffer from an illness that could have serious repercussions on your health (International Health Regulations 2005).
- Not engaged, if necessary, in a non-return procedure in Spain.