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What is the difference between Golden Visa and non-lucrative visa in Spain

Travel2024-05-24 13:18:37visa20

Spain, renowned for its rich culture, stunning landscapes, and vibrant lifestyle, beckons countless individuals seeking to live or invest in its shores. For those considering residency, two pront visa options stand out: the Golden Visa and the Non-Lucrative Visa. While both pave the way to Spanish residency, they differ significantly in terms of eligibility criteria, investnt requirents, duration of stay, and permitted activities.

Golden Visa:

The Golden Visa, introduced in 2013, is a pathway to residency in Spain for non-EU nationals who make a significant investnt in the country. The primary allure of this visa lies in its accessibility and streamlined application process. To qualify for a Golden Visa, individuals must et the following criteria:

Investnt Requirent: The main pillar of the Golden Visa is the investnt. Applicants can choose from various investnt options, including real estate, governnt bonds, business projects, or bank deposits. The minimum investnt threshold typically ranges from €500,000 to €1 million, depending on the investnt type.

Length of Stay: Once granted, the Golden Visa allows holders and their families to reside in Spain for an initial period of one year, which can be renewed every two years thereafter, as long as the investnt is maintained.

Purpose: While the Golden Visa is primarily an investnt-based visa, it grants holders the freedom to engage in employnt or business activities in Spain.

Residency Requirents: Golden Visa holders are not required to spend a minimum number of days in Spain to maintain their residency status, offering flexibility for those with international commitnts.

Non-Lucrative Visa:

Contrary to the Golden Visa, the Non-Lucrative Visa is designed for individuals seeking to reside in Spain without engaging in any work or professional activity. This visa is ideal for retirees, remote workers, or individuals with sufficient financial ans to support themselves. Here are the key aspects of the Non-Lucrative Visa:

Financial Requirents: Applicants must demonstrate they have stable financial resources to support themselves and their dependents during their stay in Spain. This typically involves proving a minimum monthly inco such as pensions, dividends, or savings, usually around €2,500 per month per applicant.

Length of Stay: Initially granted for one year, the Non-Lucrative Visa allows holders to reside in Spain without engaging in any work-related activities. After the first year, holders can apply for renewal, typically every two years, as long as they continue to et the financial requirents and maintain their residency in Spain.

Purpose: The Non-Lucrative Visa strictly prohibits holders from undertaking any professional or employnt activities in Spain. It is solely intended for individuals looking to retire, pursue personal interests, or work remotely while enjoying the Spanish lifestyle.

Residency Requirents: Holders of the Non-Lucrative Visa must spend a minimum of 183 days per year in Spain to maintain their residency status. This requirent ensures that the visa is used for its intended purpose of establishing residency rather than rely as a Tourist visa.

while both the Golden Visa and the Non-Lucrative Visa offer pathways to residency in Spain, they cater to distinct demographics and objectives. The Golden Visa appeals to investors seeking residency through significant financial investnt, with the added benefit of flexibility in terms of permitted activities and residency requirents. the Non-Lucrative Visa targets individuals with stable financial resources who wish to reside in Spain without engaging in work-related activities, offering a more relaxed approach to residency with a focus on personal pursuits. Understanding the differences between these visas is crucial for choosing the most suitable option based on individual circumstances and objectives.

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