Summary: There are many advantages of this new type of visa recently approved as well as some disadvantages to take into account that we will tell you about below.

There is a new type of residency, a new type of national visa that brings many advantages for the people who apply for it, however, we must also talk and warn about some disadvantages of this visa, although fortunately there are more advantages than disadvantages.

his national visa came into force in January 2023 and there were many doubts and uncertainty about this new visa, but thanks to several talks, which we attended, given by the general director of the UGE (Large Companies Unit), Luis Esteban Manzanares, we can provide detailed information about this visa and talk about the procedures and the necessary paperwork.

The advantages, on the one hand, are based on not having to go through any formalities at any consulate or foreigners’ office, as the process is carried out by the UGE (Unidad de Grandes Empresas), a special body that has a great agility and flexibility in its procedures that almost no other body has.

The UGE is the body in charge of investment visas, also called Golden Visa, it also processes highly qualified visas, which are usually visas requested by professionals from large companies and multinational groups, and it is also in charge of processing permits for personnel from non-EU countries who come to Spain to shoot a film, who are people who need a permit quickly and the UGE processes everything in a very short time.

Therefore, the advantages can be summarised in two aspects: the processing is carried out directly from Spain by a professional who has the necessary authorised signature and it is processed on-line, while the other great advantage is that it is resolved in 20 working days.

Other advantages of the new visa is that you are granted 3 years of residency when you apply for and obtain this visa for the first time, then the renewal is another 2 years of residency and later you get permanent residency when you have been residing in Spain for five years.

This is very interesting for those people who belong to certain consulates where there are often long delays in getting appointments or sometimes there are no appointments available. For example, the Spanish consulate in Algiers, or the Spanish consulate in Casablanca.

The disadvantages, on the other hand, are that we must register as a self-employed worker in Spain, although the taxes here are similar to those in most countries.

Great advantages for people from Morocco or Algeria, among other countries that have treaties with Spain so that they do not have to pay double taxation, so you do not have to pay in Spain for what you earn in your country of origin where you work.

In addition, through some legal details that can be taken advantage of, we can also find the great advantage that we can declare in Spain the income we have from company shares, rents, etc. to add it to the minimum amount of money we need to obtain a residency, in this way we can afford to have a lower salary or invoice less and compensate with this income brought from outside Spain.

We will explain these tax aspects in another video and news item where we will deal with this issue in more depth and in detail, so, in summary, we can say that this is a very interesting type of visa and we are at your disposal to provide help and advice on these issues.

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