Obtaining a residence permit in Spain for financially independent individuals remains a relevant and popular option for migration. This type of "Residence permit" allows you to reside in Spain but does not grant the right to work. In this article, we will review the main requirements, the document submission procedure, and the specifics for families wishing to relocate together.
Requirements for obtaining "Residence permit"
To obtain "Residence permit" in Spain without the right to work, you need to meet the following main requirements:
- Financial means: The primary applicant must prove the availability of funds amounting to 2400 euros per month, multiplied by 12 months (i.e., 28,800 euros per year). An additional 600 euros per month (7,200 euros per year) is required for each family member.
- Passive income: You need to provide documents confirming the existence of income such as property rental, dividends, or brokerage activity earnings. This is essential since active income from employment is not suitable for this type of "Residence permit".
Where to submit documents?
Documents for "Residence permit" for financially independent individuals are submitted at the Spanish consulate in the applicant's country of citizenship or residence. It is not possible to apply for this type of "Residence permit" from within Spain. The exception is if the applicant already has another type of residence permit in Spain. For those planning to apply for "Residence permit" without the right to work, it is essential to study the requirements in advance.
"Residence permit" for families: how to proceed?
If a family relocation is planned, documents can be submitted in two ways:
- Simultaneously: All family members submit their documents together. In this case, "Residence permit" will be approved for everyone at once.
- Step by step: The primary applicant obtains "Residence permit" first, and then a year after renewing their residence, they submit a request for family reunification. This option has an advantage: adult family members obtain "Residence permit" with the right to work in Spain.
Can you work or start a business in Spain?
This type of "Residence permit" does not allow official employment in Spain. However, the applicant can register a company, be its founder, and run the business. In this case, it will be necessary to hire an employee who has the right to work in Spain. After a year, upon the first renewal of "Residence permit", it can be modified to a residence permit with the right to work if a business plan or evidence of active company operations is presented.
Is it mandatory to own a property?
Owning or renting property in Spain will be an advantage when considering a "Residence permit" application, but it is not a mandatory requirement. If the applicant does not own property, they can still qualify for "Residence permit" by providing proof of rental accommodation. If you are interested in assistance with property selection, specialized services are available.
Conclusion
Obtaining "Residence permit" for financially independent individuals is an opportunity to live in Spain and enjoy a high quality of life and European standards. However, it is crucial to consider all the requirements, rules, and limitations associated with this type of residence. Prepare the necessary documents and take into account the individual specifics of your case.
If you have questions, check the details at the consulate in your country or consult specialists in Spanish migration law.