Becoming a Resident in Spain Post Brexit

Now that we’ve all settled into the new year and the Brexit dust is also settling after securing a deal (thank goodness!), I wanted to share with you some information on becoming a resident here in Spain.

Now it is possible but it’s not quite as easy as it once was- which was to be expected really.

Here are the three main options:

1.   The Non-Lucrative Visa

You must show that you are financially independent and that you or your dependents won’t be a burden on the state by applying for a non-lucrative visa.

For this visa, you must plan on being on the country a minimum of 180 days a year to maintain it. The process takes approximately three months and starts in your country of residence (in this case, the UK).

You will need:

-       A valid passport with a minimum of 1 year left before expiry

-       Provide proof of your residency status in the UK

-       Provide bank statements proving that the applicant is financially independent and can support his family (approximately 35,000 Euros for the applicant and 7,500 Euros per family member)

-       Show an income of over 2151 Euros per month plus an extra 565 Euros per month per family member who will be residing with you in Spain

-       Have private health insurance

-       A Medical Certificate from the UK

-       A police-check certificate from any countries that you have lived in for the last five years. 

The Forms

-       Fill in the Non-Lucrative Visa application form, EX-01 found here

-       A completed visa application form found here

-       A completed Modelo 790, Código 052, with payment made found here.

2.   The Entrepreneur’s Visa

If you plan on setting up a business here in Spain, you can apply for the Entrepreneur’s Visa which is valid for an initial two years. Here are the requirements. Simply put, the main requirement is that your business will benefit or are in the interests of the Spanish economy and that you will potentially be creating more jobs here in Spain. You must also have a fully elaborate and costed out business plan.

3.   The Golden Visa

The Golden Visa which is quite aptly named, means that you will be granted a visa upon investment in the four forms below:

- 500,000 Euros or more on property here in Spain

- 1,000,000 deposited in a bank account

- 1,000,000 in shares of Spanish businesses

- 2,000,000 in government bonds

One investment would cover the whole family and gives you the right to be in Spain 365 days a year but doesn’t actually oblige you to be in Spain (unlike the Lucrative Visa). With the Golden Visa, you can also apply for citizenship if you have spent more than 180 days in the country.

Having gone through the visa process myself, I can honestly say it’s not the easiest and at the time, I wished I had someone like me to help me :)

We at Encantada are here to help and provide you with an easy, stress-free transition to life in here Spain.

Please email myself steph@encantadaworld.com or Maria our legal expert directly: maria@encantadaworld.com

We look forward to hearing from you!