Spanish visa. Brexit meant that with the UK outside of the single market it was no longer possible for its citizens to enjoy freedom of movement within the EU. The EU doesn’t view the UK as a singular country when it comes to the terms and conditions of entry and departure from the area. The rules that now apply to the UK are the ones that have always applied to other “third” countries, like America, Canada and Australia.
Continuous stays in the Schengen area (Spain is a part) of over 90 days need one of the long-stay visas. But which Spanish visa is the most suitable one for you (and your spouse and dependents)?
Can you afford to buy a property in Spain for 500,000€?
Look at the Golden Visa option. This is the visa that most closely resembles life pre-brexit. The property investment is a net investment, so with any mortgage taken out the investment value must still be over 500,000€. However the investment sum can be made up of more than one property – but the property/properties must be in the same single person’s name.
Your budget doesn’t stretch this far or you just want to rent a property.
Consider the non-lucrative visa. This visa does not allow any form of work/paid income whatsoever. This visa is designed for retirees who will use their pension and other investments to support their lifestyle in Spain. There is a minimum annual income known as the financial means threshold that needs to be met as part of the visa application. The level is reviewed annually; currently the threshold is c24,000€ for a single applicant or c30,000€ for a joint application. Importantly, the visa application must be made successfully in the UK before the applicant(s) leave for their new life in Spain. After one year the visa is renewed for a further two years (requiring twice the sum of income to be demonstrated). A further option after one year is to switch and apply for a different type of visa, such as self-employment, (autonimo) if you meet the criteria.
Digital nomad visa
The post-covid phenomenon of remote working has led Spain to devise its digital nomad visa. This enables working in Spain (assuming remit working conditions are met) and does not require a property purchase.
Complimentary Spanish visa consultation
The Spanish visa landscape can appear a little complicated at first. But the application is become much more streamlined when you engage the support of experts to assist your application. Sun Lawyers is pleased to offer a free first consultation to help assess your application eligibility ans to point out any other issues around the timing of your application from a tax planning point of view. Contact Sun Lawyers for an appointment.
