Non-Lucrative Residency or Visa. It is for those who have sufficient means and wish to reside without undertaking any economic activity.
We already know This visa will allow you to stay in Spain for 1 year from when you enter Spanish territory, since it is an initial residence authorization.
Later, you will have the option to renew the permit successively, each renewal lasting 2 years. This until reaching permanent or long-term residence (at 5 years).
One of its main characteristics is that it does not allow you to carry out any type of economic or professional activity in Spain . That is, you will not be able to work for any company that operates in the country. Well, it has a non-profit nature.
Can i earn any money while i am on this first year Visa?
You can invest with this residence.
That is, you can make any type of investment (for example in stocks) and thus get a source of extra income.
Although the temporary non-profit residence permit prevents working in Spain, it does allow the foreigner to continue developing certain economic activities in other countries, as long as this does not force the foreigner to leave Spanish territory constantly, that is, it does not affect their residence in Spain. This was affirmed by the Supreme Court in the following terms:
“ It is not that the applicant for this type of visa does not do any work, but rather that he does not do it in Spain . It is not true that temporary residence in Spain is a situation provided "in essence" for wealthy pensioners who seek a temperate climate to comfortably hasten their old age, as in a reductionist way and without any regulatory support points out the judgment of instance. On the contrary, it is possible to think about the possibility that a person not necessarily retired establishes his residence in Spain because he has businesses in his country of origin that provide him with sufficient income and income to live on them without having to work in our country and without Need for a continued presence in their country of origin to attend to the progress of these businesses(which is increasingly possible and viable in the globalized economy of the digital age).
The fact that that person travels with some periodicity to that country of origin to attend to his business is irrelevant as long as what really matters, the effective residence in Spain , is maintained , as corresponds to the requested authorization "
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