Spain's new residency law APPROVED - Let the adventure begin! #nonlucrativevisa #upsticksspain #nlv

Summary

On November 19, 2024, Spain's new immigration law was officially published, with a focus on simplifying the residency process. A major point of concern was the renewal period for non-lucrative visas, which some feared would change to four years. However, the final law confirms that the renewal will remain at two years, maintaining the status quo. The law, which will come into force on May 20, 2025, covers over 170 pages, and experts are working to interpret its implications. Future videos will break down the law’s key points, offering insights into how the changes will impact potential residents.

Takeaways

• 😀 The new immigration law in Spain was officially published on November 19, 2024, and will come into effect on May 20, 2025.
• 😀 The law includes changes and updates regarding various types of residency visas, including the non-lucrative visa.
• 😀 There was initial concern regarding the extension of non-lucrative visa renewals from 2 to 4 years in the draft, but the final law maintains the 2-year renewal cycle.
• 😀 Non-lucrative visa holders will continue to renew for 2 years, then another 2 years, and after 4 years, can apply for permanent residency.
• 😀 The law underwent a draft stage where the public and professionals could comment, but final details only became clear after the official BOE publication.
• 😀 The law is quite comprehensive, spanning over 170 pages, and will require detailed analysis and interpretation by immigration professionals in the coming months.
• 😀 Immigration experts anticipate ongoing discussions and updates about the law, as provinces in Spain may interpret and apply the law differently, especially in areas like financial documentation for visa renewals.
• 😀 The goal of the new law is to simplify the immigration process and facilitate residency applications in Spain.
• 😀 Despite concerns, there will be no major changes for non-lucrative visa holders as the renewal period remains at 2 years, offering clarity for applicants.
• 😀 Professionals in the immigration industry will need time to fully understand the application process under the new law, and definitive answers may take time to emerge.
• 😀 As the law comes into effect, there will be additional guidance and instructions issued to clarify how it will be implemented in practice, and more detailed discussions will follow.

Q & A

What was the main change in Spain's immigration law as of November 19, 2024?

The new immigration law introduced some significant changes, including the extension of the non-lucrative visa renewals from two years to four years in the draft. However, the final published law, on closer inspection, has reverted the renewal period for non-lucrative visas back to two years.

How does the law affect the renewal process for non-lucrative visas?

The law maintains the two-year renewal period for non-lucrative visas, as opposed to the draft version which suggested a four-year renewal. The renewal process will follow the same steps as before, with a pathway toward permanent residency after a few renewals.

What is the publication date of the new immigration law and when will it come into effect?

The new law was published on November 19, 2024, and it will come into force on May 20, 2025.

What happens during the process from proposal to final law publication?

After the initial proposal, the law becomes a draft which can be publicly commented on. Once feedback is considered, the draft is reviewed and approved by government officials. Finally, it is published in the BOE (Boletín Oficial del Estado), the official state bulletin.

What is the purpose behind the new immigration law in Spain?

The purpose of the law is to streamline and simplify the immigration process, making it easier for people to apply for and manage their residency in Spain.

How might the implementation of the new law differ across different Spanish provinces?

The application of the law may vary depending on the province. For example, places like Malaga and Almería may have different requirements or preferences regarding documentation and financial proof. Experience with local offices will be key in navigating these differences.

What was the initial confusion around the non-lucrative visa renewals in the draft law?

The draft suggested non-lucrative visa renewals could extend to four years, which caused concern among applicants who rely on savings instead of passive income. However, the final law confirmed that the renewal period would remain at two years.

What is the impact of passive income on the non-lucrative visa renewal requirements?

If you have passive recurring income, it is counted at double the actual amount for the renewal. For example, if you earn €20,000 a year in passive income, it will be considered as €40,000 when calculating the renewal requirements.

What are the next steps after the publication of the new law?

After the law is published, professionals in the immigration industry will engage in discussions to understand its implementation. Further instructions will be released by the authorities in Madrid, offering clarity on how the law will be applied.

How will the non-lucrative visa renewal process be handled moving forward?

The renewal process will continue as before, with applicants renewing their non-lucrative visas for two years at a time. This process remains unchanged, which is positive news for those planning their residency.