UK Nationals are eyeing the opportunity to migrate to one of the best countries in Europe after the UK exits the EU (Brexit). International entrepreneurs see Spain’s potential for financial growth as the main reason to live and work in the country- the diversity of customers from its neighboring countries and the millions of tourists that visit Spain each year are a huge indicator of success in terms of business. In the next post we are going to talk about the opportunities of living in Spain:
According to the UK government, UK citizens that are living in or are planning to move to Spain should first register as a resident in Spain, register for healthcare as a resident and exchange their UK driver’s license for a Spanish one. Once you have been registered as a legal resident, you will be issued a biometric residence card called a Tarjeta de Identidad de Extranjero (TIE), which will prove that you are eligible to enjoy the rights and privileges outlined in the Withdrawal Agreement, although it is not required to obtain the TIE as long as you own a EU residence document. Furthermore, UK nationals that are planning to or liviing in Spain can get support from organizations funded by the UK Nationals Support Fund in order to complete their residence application or registration.
British citizens that are planning on living in Spain after Brexit through real estate investment may opt to acquire the Spanish Golden Visa, which allows the whole family to enjoy the desirable and low cost of living while having the opportunity to work and to travel within the Schengen area. The residency permit will not require any length of stay before having to benefit from its advantages. The different investment options for this visa are outlined below:
- A real estate investment with a minimum of €500,000
- A €1,000,000 investment in shares of Spanish companies
- A €2,000,000 investment into government bonds
- A fund transfer or deposit of €1,000,000 into a Spanish bank account
Aside from these options, there are other residence programs for non-European citizens that want to reside in the country without investing. There are two permits available that are work-related and do not need an investment: the residency for highly qualified professionals, a permit that allows qualified professionals from outside the EU to live and work in Spain as an executive or manager through the Regulatory Law 14/2013 of September; and the inter-company residence, which allows non-EU workers to transfer, working in a company with offices in Spain. For non-European citizen retirees, the non-profit residence is available for them to reside in the country without the need to carry any type of economic activity, as long as they possess sufficient funds to settle in Spain. This permit allows the family members of the applicant to reside with them in the country.
Once you have decided what type of Spanish Golden Visa is best for your and your family, choosing where to live in the country is next. Spain is famous for its low cost of living, good weather, the exceptional culture and delicious gastronomy, but depending on your preference and your lifestyle, you can choose from different cities. Whether you choose to live in Barcelona, where the city life and the beach meet; Madrid, the capital with beautiful streets filled with theaters and high-class restaurants; Valencia, for its affordable lifestyle and famous cultural destinations; Sevilla, the heart of flamenco; or Granada, with its distinguished Arab architecture. All of them possess a myriad of nationalities and cultures, which make them perfect for expats since you will be able to meet other international residents, aside from locals, while enjoying living in one of the best countries in Europe.