If you have enough financial resources to live in Spain without working this is a good residency option for you.
PERMITS FREE CIRCULATION IN SCHENGUEN TERRITORY
To have sufficient economic resources to reside in Spain without performing any work activity and to have health insurance contracted with an entity authorized to operate in Spain.
Applications are resolved within a maximum period of two to three months. However, the Spanish Embassy in Tehran is taking approximately 6 months to grant the appointments, so the process could take up to 8 months.
Residency is initially granted for one year and renewals are for two years.
The spouse and the minor and adult children who depend economically on the investor can apply for the residency.
It requires permanent stay in Spain. More than minimum 6 months permanent stay in Spain is required for the renewal.
It does not authorize to work. Although after the first year of residency it is possible to transform it into a residency with work permit in case of presentation of a business plan or a job offer received from a Spanish company.
How to obtain the long term residence in Spain
This residency authorizes to reside and work in Spain indefinitely under the same conditions as Spanish citizens.
It is almost like having Spanish nationality.
It is necessary to have resided legally and continuously in Spanish territory.
The continuity is not affected by absences up to 6 months as long as the sum does not exceed 10 months within five years.
This residency authorizes to apply for an EU long-term residency that allows to work and reside in any member state of the EU.
How to obtain Spanish nationality by residence
Generally, Spanish nationality is obtained after 10 years of residency.
This period can be reduced in case of being born in Spain or being married to a Spanish citizen.
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