Oracle Capital Group continues serving the interest of its clients and now offers assistance in obtaining residence in Spain.
This Southern European country warmly welcomes people who appreciate its rich culture and long-standing traditions. A residence visa is now available for individuals who do not intend to take employment from local Spaniards who already struggle with 25% unemployment rate.
NON-LUCRATIVE VISA
The purpose of the non-lucrative visa is to allow people with sufficient financial means to live in Spain without soliciting employment.
The visa applicant would have to prove to the Spanish consulate that you have sufficient means by either
- showing that he receives a fixed permanent income from an established source, such as from a trust fund, pension or rent. A salary is not considered permanent income, nor is interest received from a bank or mutual fund. The amount should be at least €2,500 per month, or
- showing that he maintained a high enough average balance on a bank account during at least a year. The average balance expected on the account should be at least €70,000 and the funds should be available for immediate withdrawal.
Other documents required for this visa are a police clearance certificate and a medical certificate.
The application is lodged to the Spanish Embassy or Consulate in person in the applicant’s country of residence. The Embassy then forwards the application to the immigration authorities in Spain where the applicants plans to reside.
Once the application is approved, the Embassy will call the applicant to pick up the visa and the successful visa holder must enter Spain within 90 days.
Within one month of arrival in Spain, the visa holder must apply for his residence permit in the province where he plans on residing.
Initial residence permit allows its holder to stay in Spain for one year.
Upon presentation of proof of sufficient means, the permit will be renewed for additional two years. The second renewed permit will be valid for another two years, and the third renewal would be valid for five years.
HOW CAN ORACLE CAPITAL GROUP HELP YOU?
Oracle Capital Group together with its Spanish partners will track your visa application from start to finish and provide the following:
- Initial review of your situation and documents, including a meeting in person, by phone or email to discuss your suitability and eligibility for the non-lucrative visa
- Consistent communication with you, providing answers to your questions and feedback regarding the visa process
- Review of all documents to ensure that your application is complete, correctly filed and professionally handled throughout
- Tracking of the progress of your application. Once the application is presented in the Embassy, we will communicate with the Embassy to ensure the proper processing of the application
- Upon the application’s arrival in Spain, we will follow up with the Spanish authorities in charge of reviewing the application in case they require further documentation to support the application
- Reception of the final response from the authorities and guidance once you are in Spain to obtain the residency card
Welcome to sunny Spain!
Legal Department
Oracle Capital Group
