How to Get Spain Legal residency without Investment

My name is Junaid Husnain Javaid, I am an HR practitioner turned Entrepreneur and currently serving as Managing Director Saka Group of Companies
CEO of one the fastest growing IT firms in Pakistan and representing in the European region

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Complete Details about Spain Legal residency Visa 

Junaid Husnain Introduction

My name is Junaid Husnain Javaid, I am an HR practitioner turned Entrepreneur and currently serving as Managing Director Saka Group of Companies
CEO of one the fastest growing IT firms in Pakistan and representing in the European region
I have done ICHRM, PHRM, Double Masters’s in Human Resources management, project management, and E-commerce from one of the reputed business school in Europe.
In addition to being on Management level position in the UAE and Spain, I am also associated with the Hospitality business within Spain.

Watch Complete Detailed Interview of Junaid Husnain Javied about all Visas of Spain

Coming to the topic of different residency that currently Europe especially Spain is offering
I would like to highlight here in order for our nation to understand and realize that there are some residency that is currently offered by some European countries to attract Entrepreneurs, talented and highly skilled professionals, investors who wanted to reside legally in Europe along with their families
There are 4 Visa residencies that I am going to highlight in this article
1. NON- lucrative Visa from Pakistan and other parts of the world
2. Entrepreneur visa / Residency for Pakistanis and the rest of the world
3. Golden Visa residency Spain
4. Highly skilled professionals residency Spain

Flag of Spain
Flag of Spain

Entrepreneur Visa Residency:

This residency is introduced for non-European nationals back in 2013 by the Spanish government
In order to apply for this particular visa residency from Pakistan or anywhere in the gulf you have to contact the trade and investment department of the Spanish government located in Dubai
The biggest advantage is the possibility of making a joint application, either with your spouse or partner, minor children, or dependent ascendants (father or mother who are economically dependent on you); who will also be allowed to work legally
to get this visa there is no minimum investment (neither in the company nor in the country in general), and you do not need to have any hired workers for your application to get approved
Please bear in mind that to get it approved your business idea should be innovative and unique
Thus, this visa is only granted to entrepreneurs with totally disruptive ideas
must be of special economic interest for Spain
capacity to generate wealth for the country
Business must be scalable and job opportunities arise are also the key points for this residency
The personal professional background of the applicants also plays a vital role here
They should have previous experience, business background or similar training in the business you are going to launch in the country

In addition to the level of studies and professional trajectory to date (i.e., where you have been studied and what, and where you have worked)
Below documents required to submit online in trade and investment department of Spain
Send the application online through the electronic headquarters of the UGE,

1. Business plan(detailed layout provided in the link)
2. Extra proof related to the business plan you are submitting
Send your business plan At the Dirección General de Comercio Internacional e Inversiones if you are in your home country at the time of application.
If you are in Spain with your tourist visa, at the Ministry of Economic Affairs.
Required documents:
1. Complete passport
2. Private medical insurance with no deductibles or co-payments
3. Criminal record
4. Economic means to support yourself during the two years and the business you are going to set up. We are talking about 2.130 € for the main applicant and 532 € for each member of the family he/she is in charge of.
5. The favorable report accepts that your entrepreneurship idea is valid.
6. Proof of payment of the related fee

 

Visa online application concept. Open passport with visa stamps with airline boarding pass tickets and stamper on the computer keyboard. 3d illustration

 

Non Lucrative Visa Spain :

 

Visa residency introduced by the Spanish Government

This is a type of visa residency introduced by the Spanish Government for those who want to reside in Spain legally along with their families. This visa can be obtained directly from the Spanish embassy in your home country and the application form can be taken online.

Documents required for NLV visa outside Spain from Pakistan or any other country:
Visa application form. Do not confuse the national visa form with the Schengen visa form since they are completely different. Make sure you answer all questions correctly and completely
Valid Passport. It should be no older than 10 years, and valid for another year at least. It should have at least one blank page for the visa sticker.

Two Identical Photos. The photos must be taken according to the Schengen visa photo specifications.
Medical Certificate. Get this certificate from an authorized doctor in your country of residence. It should indicate that you do not have any disease that poses risks for public health. Remember that on the day you submit this certificate, it must be no older than 90 days.
Health Insurance. Obtain medical insurance from a private insurer in Spain.
Original Police Clearance Certificate. A document that confirms you have not committed any illegal activity in the last 5 years. This document should also be no older than three months on the day of submission
Proof of sufficient income. The most important part of your application! If you fail here, your application will be rejected for sure. You need to prove you have a minimal amount of about 2,150€ per month, and an extra 535€ per month for every dependent you plan to bring with you. The following documents can serve as proof of financial means:

Bank statements for the last three months.
Letter of employment stating the salary, if you will be receiving a salary from an employer outside Spain.
Proof of investments.
Proof of other types of income, i.e. from rented property.
A marriage/Birth certificate is required for those applying as a dependent.

Golden Visa of Spain

 

Investors in Spain can get a residency permit by investing in Spain

It’s a Spanish residency visa for non-EU citizens who want to make a big investment in the Spanish economy. The visa allows the holder and their family to live in Spain and travel to Schengen countries without a visa.

Spain’s Golden Visas are most often issued to people who buy real estate. These visas are also available to business people who invest in a Spanish company, which is why they are also called Spain Investor Visas.

Who is eligible for a Golden Visa to Spain?

In order to qualify for a Spanish Golden Visa, you must make one of the following investments:

  • Purchase a property in Spain worth at least €500,000. A single unit or multiple units can each have a value of no less than €500,000.
  • Invest at least €2,000,000 in the Spanish public debt.
  • Deposit at least €1,000,000 in a Spanish bank or buy shares in a company.
  • Develop a new business that will generate employment opportunities, contribute to scientific and/or technological innovation, and have a significant socio-economic impact in the region where the business will be based.

You must also fulfill the following requirements in addition to the investment:

  • You must be at least 18 years old.
  • No criminal record is acceptable.
  • A Schengen visa must never have been denied in the past.
  • Health insurance is mandatory in Spain.

In order to determine eligibility, most potential applicants consult with investment immigration professionals. It is due to the substantial and risky nature of the investment. They can help you navigate your options and apply for a Spanish Golden Visa if you need it.

What is the Spanish Golden 131?

A visa application can be submitted to the nearest Spanish Embassy or Consulate if you have made any of the investments above. Applicants must be committed to making the investment at the time of application, but the investment does not have to be finalized.

The visa can be obtained without being in Spain, but you will need to visit a bank and meet with a lawyer beforehand to assess your investment options. This process can either be completed by yourself or with the assistance of professionals such as those at La Vida – Golden Visas. After you have decided to invest, your lawyer will use Power of Attorney to secure your deposit and submit your Spanish Golden Visa application.

As a dependent, each member of your family must apply for their own visa to enter Spain. A birth certificate and a marriage certificate are required to prove family relationships.

Are family members eligible for the Spain Golden Visa?

Spain Golden Visa allows you to include the following family members:

  • You and your spouse
  • Have under-18-year-old children. If you have children who are not minors but are financially dependent due to a health condition or mental condition, you may also qualify for the visa.
  • Parent with disabilities.

Additionally, your family members will receive residence permits and have freedom of movement within the Schengen Zone.

What is the validity of the Golden Visa for Spain?

You will receive a Golden Visa at the Embassy that is valid for one year. During this year, you must enter Spain and exchange your visa for a two-year Spanish residence permit.

You can then renew your residence permit indefinitely, without any stay requirements, as long as you maintain your investment. Every time your residence permit needs to be renewed, you must travel to Spain.

After five years of continuous residency in Spain (at least six months out of the year), if you intend to live there, you can apply for permanent residence.

Is it possible to get Spanish citizenship by investment?

If you live in Spain for at least 10 years, you can become a citizen with Spain’s Investor Visa.

For a passport, you need to live in Spain for at least six months out of the year for ten years, although becoming a resident of Spain through investment is pretty straightforward.

As well as knowing the language and having connections to the country, there are other requirements to become a Spanish citizen. The holder of a Spanish passport has access to the EU job market and can travel visa-free to more than a hundred countries.

Benefits of the Spain Golden Visa

Spain is a member of the European Union, so Spanish nationals and their families can travel visa-free to all Schengen Zone countries for up to three months in a six-month period. Additionally:

  • You are not required to live in Spain to renew your residence permit, but you can if you wish.
  • Spain is a legal destination for both residence and work.
  • You may bring family members with you (spouse, children, parents).
  • Public services such as health care and education will be available to you and your family members.

The documents needed to apply for a Spain Golden Visa

You need the following documents to apply for a Spanish Golden Visa:

  • Form for applying for a Spain visa
  • along with two passport-sized photos. Follow the picture guidelines for a Spanish visa.
  • If you intend to stay in Spain for a short period of time, make sure that your passport contains at least two blank pages and is valid for the length of time you intend to spend in Spain. A photocopy of your passport’s personal information page may also be required.
  • In the case of non-citizens of the country where you reside: Your residence permit.
  • Documentation proving that you have sufficient income to support yourself and your family while living in Spain.
  • Police records prove your innocence. The records must be issued within three months of your application.
  • Proof of health insurance (private or public) with a Spanish insurance company.
  • Payment of visa fees.
  • Documents related to your specific case (investment or real estate purchase), as described below.

It is required that the documents be translated into Spanish (if they are not already) by a certified translator and apostilled. At La Vida, our Golden Visa specialists can assist you in preparing the required documents for your visa application.

Spain Golden Visa (Real Estate) requirements

In order to apply for a mortgage in Spain, you will need a certificate issued by the Land Registry that proves you own the property.

The purchase amount (no less than €500,000) must appear on the certificate.

If the property purchase has not been recorded with the Land Registry, simply provide proof that the documents have been filed with the Land Registry.

You can submit the preliminary contract, a down payment, and a letter from a Spanish bank proving the funds are available for the purchase.

Visa requirements for Spain investors

The following documents must be submitted in order to prove your investment when applying for a Spanish Investor Visa:

  • A certificate from the Bank of Spain or another financial institution, stating you are the sole owner of the investment for at least five years.
  • An investment in shares or stocks of a Spanish company requires a statement from the Spanish Registrar of Investments under the Ministry of Economy and Competitiveness.
  • An investment in quoted shares requires a certificate from your financial intermediary stating the amount of your investment. This certificate must be registered with the Spanish National Stock Market Commission or the Bank of Spain.
  • An investment in a bank deposit is a certificate naming you as the sole owner of the deposit.

How Can I Get a Loan to Apply for a Spain Golden Visa?

In that case, you cannot apply for a Golden Visa for Spain. The initial investment must be fully funded by your own funds, and you must be the sole owner of the investment.

It is important to note, however, that if your property is worth more than €500,000, then you can use loans and financing to pay the amount above €500,000.

Can a joint investment get a Spain investment visa?

Even if you make a joint purchase or investment, you still have to meet the minimum requirements for each purchase. If you buy a house, each person involved has to pay €500,000 to be eligible for the Golden Visa. If you split the investment into smaller amounts, you would not be eligible for the Golden Visa residency.

Click Here to Download PDF file for application Links 

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