The mention of Span gives many the idea of an excellent country to visit, with a robust culture and several tourist attractions. While it is a great destination, the taxes can be quite prohibitive to many. It hikes the cost of living, making it suitable for a short-term visit and not for staying for a long time.
The good news is that there are several solutions to having an affordable stay in Spain. This article explores how you can live in this European country on a Spanish non-lucrative visa and what it entails.
What Is the Spanish Non-Lucrative Visa?
Spain offers several visas to immigrants who want to be part of the country. The non-lucrative visa is one of them. Many people who have had this visa would not advise anyone who is productive to go for it.
When you have this visa, you cannot work in Spain in any capacity. You can only live on your savings, retirement benefits, and other forms of sponsorship. However, you may gain from rental income. It is an excellent visa for retirees or if you want to relax in Spain for a considerable time.
When Should You Take the Spanish Non-Lucrative Visa
This is an excellent permit to have if you do not plan on working in Spain. You can use it if you are prospecting for better investment opportunities in the country. It is also excellent for retirees who are done working but have ample savings to see them through their stay.
In short, it is an excellent permit to go for if you have a source of passive income. If you earn by working remotely, you may want to go for the digital nomad visa.
The Beckham Law to Your Aid
Beckham law Spain will have your back if you want to work and live in Spain. Its name comes from soccer legend David Beckham. Who the law first applied to. The law allows you to work in Spain and pay reasonable taxes. According to this law, the taxes a foreigner pays while working in Spain are lower than that of citizens.
You will need help with this law and how to navigate it. An immigration law firm is the best solution if you want to know how to navigate the process of moving to Spain. You may also need a sworn Spanish translator certified by the government of Spain. The translator passes you the message in a language you understand.
An immigration law firm can get you such a translator to make your move to Spain smooth.
The Spanish non-lucrative visa is an option to consider when moving to Spain with enough funds to sustain you without working. It is a nice option for retirees as they are past their working years with ample benefits to sustain them. If you want to work, consult a legal firm to understand the Beckham law and see how you can take advantage of it.
You may also consider passive residency Andorra, another choice if you want a cultural-rich country to spend time in.