22 de noviembre de 2023

Differences between the Golden Visa Spain & the Non-Resident Visa

differences between golden visa spain and non-resident visa

Spain, renowned for its rich cultural tapestry and breathtaking landscapes, offers a variety of visa options to non-EU citizens. Among these, the Golden Visa and Non-Resident Visa stand out, each tailored to different groups and needs. Understanding these options is crucial for anyone considering a move to Spain.

Eligibility criteria: Who can apply for each visa?

Golden Visa Spain: Targeted at wealthy investors from non-EU countries, this program requires a significant investment in Spanish real estate, government bonds, or business ventures.

Non-Resident Visa: Ideal for individuals planning to stay in Spain for specific purposes such as work, study, or family reunification. Unlike the Golden Visa, it doesn’t require a large financial investment.

Case Studies: Real-Life experiences with both visas

A study featured on the LSE Business Review website explores the economic impact of Golden Visa programs in the EU, including Spain:

These programs generally contribute less than 0.3% to GDP and are not substantial enough to significantly affect real estate markets, except in certain cases like Greece.

Investment requirements: Comparing financial commitments

Golden Visa Spain: Demands a minimum investment of €500,000 in real estate or higher amounts in other areas like government bonds or business ventures.

Non-Resident Visa: No direct investment required. Applicants must, however, demonstrate sufficient financial means for their stay in Spain.

Duration and renewability: How long can you stay?

Golden Visa Spain: Offers initial two-year residency, renewable for five years as long as the investment is maintained.

Non-Resident Visa: Typically valid for one year, renewable based on ongoing eligibility and adherence to visa conditions.

Rights and benefits: Living, working, and traveling

Golden Visa Spain: Provides residency rights, work permits, and visa-free travel within the Schengen Zone. Family members can also be included.

Non-Resident Visa: Offers specific rights based on the type of visa, such as working, studying, or joining family members in Spain.

Application process: Steps to secure each Visa

Golden Visa Spain: Involves selecting an investment, preparing documentation, and applying through the Spanish consulate or immigration office.

Non-Resident Visa: Requires gathering documents like work contracts or university admission letters and applying through the Spanish embassy or consulate in the applicant’s home country.

Family Considerations: Bringing loved ones to Spain

Golden Visa Spain: Allows family inclusion in the application, offering similar residency rights.

Non-Resident Visa: May permit family reunification, but this often involves a more complex process.

Tax implications: Resident vs non-resident status

Golden Visa Spain: Staying over 183 days in Spain could result in tax residency, implying global income tax liability.

Non-Resident Visa: Typically, holders are taxed only on their Spanish-source income.


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