Wealth Visa Spain
Information about Wealth Visa Spain
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How to Get Wealth Visa Spain, Everything You Need to Know?
Wealth visa Spain is also commonly referred to as a non lucrative visa. The visa helps ex-pats who want to stay in the country but don’t have a reliable income source. Among many of those immigrating to Spain, you may find individuals who may move into the country because of reasons that push them without proving that they have an income-generating activity. However, the wealth visa in Spain is given to the people who demonstrate that they can sustain themselves effectively while in Spain. It means they have enough savings and are financially stable to stay in the country effectively.
There are several legal issues that you need to take care of to be eligible for the visa. Therefore, you need services for immigration lawyers in Spain who will advise and help you with the process. The specific requirements sought are unique and very important. If you miss providing any during the application process, then the process will not go through. You also need to comply with the requirements that you provide by giving enough proof of what you have. The specialized legal aid you will get from the lawyers is significant, and you should not take it for granted.
Who Is Eligible to Apply for the Wealth Visa Spain, and Requirements?
The visa applies to anyone who has enough resources to help them stay in Spain without working. Their savings can be cash or investments that provide fixed income and guarantee no compromise during their stay. Look out for the following requirements before you start the visa application. You will find some more in this article, and you need to have all of them with you when you apply for the visa.
- Proof of fixed income: it is an essential requirement when applying for a wealth visa in Spain. It shows that you have sufficient means that will help you live without working in Spain. Bring out all the documents showing the fixed amount you receive from the various means you may have.
- Evidence of your bank account balance: account balance shows the savings that you have accumulated in your home country. You will need to show proof that you have had a high average balance in your bank account in existence for the past year before the application’s date.
- Comply with the monthly visa fees: the visa is about 2200 euros monthly. You have to comply with these fees that you will pay every month. If you need to add any family member to join using the visa, there are 500 euros to the monthly payments.
After considering these important documents and checks, it would be essential to pay attention to filling the application form you will get from the Spanish embassy or consulate. Any incomplete or incorrect applications are rejected when arriving in Spain. If your application is denied, you will need to start the process all over again later.
Some considerations to make are:
- Please apply for the form and pick it from the offices in person. You can ensure you have all the documents you need by checking them at the offices and ask if there is anything more you need to get. The officers will help you with everything you need.
- The application form should be submitted back to the offices not more than 90 days in advance of the date of travel. It will allow all the processes to be completed in time to let you travel with ease.
- Also, note that the visa Spain processing fee is non-refundable. Once you pay it, it is not returned even if the visa is denied or canceled.
- The visa should be picked within a month after you receive the approval notification. There is no extension of the period, and the visa gets invalidated past the picking date.
On the day of the application, you need to provide the following documentations:
- The visa application form: you should have filled the form thoroughly and signed where necessary.
- One bright passport photo: you should provide a professionally taken passport photo. The photo should have a white background and the face visible. The application doesn’t accept self-made and printed pictures.
- Your passport or travel documents: the passport you use should be not older than ten years. When you submit it, provide it with two blank pages for a new visa for the particular visa you are applying for.
- Identification card: the card is an identity of your place of residence. You can provide any card that is used to identify you in your home country. Such include U.S. Driver’s license, State I.D. card, Voter’s Registration Card, and current Student I.D.
- Medical certificate: the certificate should be issued not more than 90 days to the application’s day. The medical report should be exhaustive and have a letterhead and original stamp or signature from a doctor. The doctors accepted are only M.D. or D. O’s.
- Translation: translations into Spanish of all documents is a must. You can get an official translator provided by the embassy.
- Proof of funds: the documents you present as proof should be in their original format with an official stamp and seal from your financial institution or agency. It should show sufficient economic means that will satisfy you for the rest of the residency in Spain. You can check for the minimum savings required to form the official website of the Spanish embassy.
- Copy of your recent tax returns: you need to be clear of any loans or mortgages before applying for Spain’s wealth visa.
- Medical insurance: you need to prove that you have valid health insurance from a private or public company. The provider of the insurance must be operating within Spain.
There are other documents, such as a marriage certificate, that you may need when traveling with your family. You can also provide your birth certificate for dependent children who are below the age of 18. All these documents are provided in original and photocopy format.
Once you arrive in Spain, you get Spain immigration experts’ services to help you with all the post-arrival Spain. These include getting your foreign national identity card that meets the ministry of interior requirements in the country.
The Wealth Visa Spain Permits
If you have met the requirements and have a successful application for the visa, you can now travel to Spain. The first residence permit will last a whole year. Therefore, you don’t need to follow up for the first year of stay in the country as your visa remains intact and valid. The visa will allow you to go through the period of one year smoothly, and when you want to continue residing in Spain, the process of follow-up begins.
You have two renewals on the visa. Therefore, you can renew it for one or two years, depending on your choice. The wealth visa Spain can last for five years if you keep renewing it. After the first five years, you will be allowed to apply for a long-duration residence using the proof of your visa. The visa, as mentioned, doesn’t let you take any paid work for the time you will be using it in Spain. Such work includes all the remote work.
However, after one year of living in Spain with your visa, you can convert it to employment residence or self-employment residence visa that will allow you to get into paid jobs. You can make the application at the end of your first year. You will apply for an extension plus the new visa to let you take jobs while in the country.
To get the new visa, you must have about €30,000 in your bank account or the income section you get from pensions and guaranteed investments. The investments should provide €2,130 a month and €532 when you have a spouse or a dependent child in less than 18 countries.
Income from your rental properties or salaries does not apply for a new visa. You will also need to get all the required documents from the consulates since you reside in Spain. The proof of accommodation should be in form and show that you have stayed for a year in Spain. A piece of evidence that you have a place to stay is sufficient to help you get the correct requirements here.
Qualifications for Long Duration (Permanent) Residence Permit
After five years in Spain, you will qualify to get a permanent residence visa. You must not have been out of Spain during the five years for a period exceeding ten months. Once you get the permit, you must only be a day in Spain to keep it. It will offer you the right to work, and you can access the government healthcare system.
After the first year with your wealth visa Spain passes, you can now apply for the following visa to help you work in the country:
It will enable you to work remotely. It is applied from your home consulate while you are in Spain. You will submit your business plans and any permits that you need to operate your business. You will also provide a document that entails all the details you will need to get your business on track.
You will register with social security in Spain as a freelancer and get a card to allow you to start working. You will pay an escalating amount that begins at about €60 ($71) and increase to over €280 ($333) paid monthly. The visa allows you to access government healthcare and save on many costs you need for private health insurance.
It would help if you had this visa after one year of using the wealth visa Spain to stay in the country. It will help you set a business enterprise, keeping you operating in the country with ease. The visa allows for the residency of spouses, dependent children, and elders in the family like your older parents and grandparents.
You need to meet the visa requirements plus an inclusive FBI report with private health insurance. The wealth visa Spain holders should have a viable business plan approved by the Spain commercial office. You can get the visa quickly from the Spanish consulate. The processing is speedy and does not take more than 20 days.
The investor visa is offered to those who buy a property valued at over €500,000 ($594,865). The visa allows residence for the buyer, their spouse, and all dependent children under 18. You will also get all work permits to use in Spain. You need to have financial documentation, an FBI report, and private health insurance to apply for this visa. The lucrative residence visa works in one year when you can renew it if you have been out of the country for not less than six months.
When you apply for this visa, you should show proof that you bought property within 90 days before the date of submitting your application forms. When you apply for this visa while in Spain, it offers you more advantages, and you will get it approved quickly. The application of the visa is usually processed in 10 days.
Family Roots Visa
If your family member or parents have ever lived in Spain or have a minor Spanish nationality child, you can get this type of visa. It would be best to have a clean criminal record to get this visa and the Spanish family’s birth certificates.
Conclusion for the Wealth visa Spain
It is important to note that every consulate has its requirements for the wealth visa Spain application. You need to be cautious when interpreting the requirements since you must provide the required information. Upon approval of the application, Spain’s laws will apply the same way it applies to its citizens.
The residence permit in Spain will allow you to enjoy your stay in the beautiful country. You can start your journey today and get the residence card to live in Spain. Also, ensure the documents you present to the Spanish embassy and consulate are translated legally into Spanish.