Temporary residence permit for financially independent person.
A residence permit without the right to work is suitable for those who want to live in Spain and do not plan to invest, start a business, or get employed. Retirees who want to spend at least six months in the country often choose this method of legalization.
Residence permit without the right to work processing period is rather short, it usually takes from 1 to 2 months, and is granted for one year with the right to extend it for another two years. The main condition is to convince the migration authorities that you have funds sufficient for living on without work. Experienced Spain Legal’s lawyers will help you to collect and file documents, you will mitigate the risk of rejection to zero.
Applicant Eligibility
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- Not be a citizen or immediate relative of an EU country citizen.
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- No criminal record for the last 5 years.
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- No violations of the EU visa policy.
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- Proofs of having funds to live on (source of regular income, bank statement, shares, a pension or trust fund confirmation, property rental agreement, etc.).
Advantages of this status
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- The right to legally reside in the country without employment for up to one year.
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- Visa-free travels to the Schengen area countries.
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- Legalization of immediate relatives.
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- The right to start a business (provided a hired executive).
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- Modification to a full-fledged working residence in case of a contract; permanent residence in 5 years and citizenship in 10 years.
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- No blocking of funds indicated as a guarantee (a source) of financial independence.
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