Spanish Residence Permit for Financially Independent Persons (FIP)

Client Story

Ekaterina and Sergey K., a married couple from Yekaterinburg, reached out to GARANT.in in March 2024 to apply for a Spanish residence permit as financially independent individuals (FII). They were 45 and 48 years old, respectively. The family has a successful business in Russia: Sergey is a co-owner of a furniture manufacturing company, and Ekaterina manages family properties and rents apartments.

The couple has two children: Alina (12 years old) and Nikita (8 years old). Ekaterina and Sergey dreamed of living in Europe, where they could provide their children with a high-quality education, enjoy a comfortable climate, and travel freely across the Schengen area.

Key Client Requests:

• Obtaining a Spanish residence permit for the entire family without the right to work but with the freedom to live in Spain.
• Ensuring access to quality international schools for their children.
• Retaining their current business in Russia and continuing to earn a stable income.
• Living in a country with advanced infrastructure, a mild climate, and a high level of safety.

Consultations and Program Selection

The GARANT.in legal team conducted a detailed analysis of the client's financial situation and suggested the optimal solution: applying for a Spanish residence permit for financially independent individuals. This type of residence permit was perfectly aligned with Ekaterina and Sergey's goals because:

• It does not require employment in Spain or opening a business there.
• It is based on proof of financial independence and the legality of income.
• It allows for legal residency in Spain and unrestricted travel within the Schengen area.
• It includes the option to list all minor children in the application.

Key Requirements for the Spanish FII Program:

1. Proof of stable income outside of Spain.
2. Sufficient financial resources in a bank account to cover living expenses:
   • At least €27,000 per year for the main applicant.
   • An additional €7,000 per year for each family member.
3. Comprehensive health insurance covering expenses in Spain.
4. Renting or purchasing a property to confirm the residential address in Spain.

Steps in the Case Process

1. Preparation for the Process

The family signed a contract with GARANT.in in early April 2024. As part of the preparation, the legal team conducted a thorough analysis of the client’s situation to confirm their eligibility for the Spanish FII residence program.

During this stage, the following tasks were completed:

• Initial verification of the client's financial standing to ensure the stability of their income and the legality of their assets.
• Consultations on preparing additional documents to simplify the application process.
• Development of a work plan, including key deadlines and stages: dossier preparation, property selection, bank account opening, and application submission.

The lawyers confirmed that Ekaterina and Sergey's financial position met the program’s requirements: their regular income from business and property exceeded the minimum threshold, and their bank savings significantly exceeded €100,000.

2. Document Collection and Preparation

The legal team began collecting and verifying all necessary documents, a process that took about three weeks. This included meticulous preparation, translation, and notarization of papers.

The required documents included:

• Passports of all family members with valid expiration dates.
• Bank statements showing sufficient account balances (exceeding €100,000).
• Income statements demonstrating regular earnings from Sergey’s business and Ekaterina’s rental activities.
• Property documents and other assets prove financial solvency.
• Birth certificates of the children and the marriage certificate confirming family ties.
• Health insurance policies for the entire family meeting program requirements.
• A one-year rental agreement for a property in Malaga.

During this stage, the legal team also:

• Arranged for document translation into Spanish with subsequent notarization.
• Conducted an internal review of the dossier to ensure compliance with Spanish immigration authorities’ requirements, avoiding potential errors and delays.

3. Trip to Spain and Housing Arrangements

In May 2024, Ekaterina and Sergey traveled to Spain with a GARANT.in representative to address key issues on-site. The 10-day trip included several crucial steps:

1. Property Selection and Rental Agreement:

• The family chose a spacious house in Malaga with three bedrooms, a pool, and a sea view. The property met program requirements and provided a comfortable living environment for the children.
• Lawyers assisted with the rental agreement, ensuring the transaction's legal integrity.

2. Opening a Bank Account:

• A meeting with representatives of a Spanish bank was arranged to open accounts in Ekaterina and Sergey’s names. This was essential for financial operations and proof of funds for residency.

3. Obtaining a NIE:

• The legal team helped secure NIEs (Foreigner Identification Numbers), which are mandatory for residence permit applications and financial transactions in Spain.

Additional consultations were provided on current tax issues and using the accounts to transfer funds for living expenses.

4. Submitting the Residence Application

In June 2024, the prepared document package was submitted to the Spanish Consulate in St. Petersburg. At this stage, GARANT.in ensured:

• A thorough review of the documents before submission is necessary to avoid potential remarks.
• Accompanying the family during the mandatory interview, where Ekaterina and Sergey confirmed their intent to reside in Spain, financial independence, and income sources.
• Prompt interaction with the consulate to monitor the application status and address any issues.

The review process took about two months, with the legal team keeping the clients regularly updated.

5. Biometrics Submission and Approval

In August 2024, the family received approval for their application. The legal team organized a trip to Spain for biometric data submission at the local Immigration Department. During this stage:

• Ekaterina, Sergey, and their children completed fingerprinting and submitted original documents.
• The process was expedited thanks to prior appointments and thorough preparation.

Three weeks after biometric submission, the family received their residence permit cards in person at the Malaga Immigration Center.

Results of the Case

1. Spanish Residence Permit

• The family received a one-year Spanish residence permit with the option for renewal. This status grants them the following:
  • Legal residency in Spain and access to all country benefits.
  • The ability to travel freely across the Schengen area without additional visas.

2. Education for the Children

• Alina and Nikita were enrolled in an international school in Malaga, where the curriculum was taught in English. The school provides a high level of education and excellent academic preparation, a key factor for Ekaterina and Sergey.

3. Comfortable Living

• The family settled into their rented house, enjoying the mild Mediterranean climate, clean air, and high quality of life. Malaga proved to be an ideal location for family living and leisure.

4. Financial Stability

• Their business in Russia continues to generate stable income, and the program’s minimal residency requirements allow the family to plan their travel and living arrangements flexibly.

Client Testimonial

“Our collaboration with GARANT.in exceeded all expectations. The lawyers made the entire process simple and transparent, from document preparation to obtaining the residence permit. We didn’t encounter any bureaucratic difficulties—everything went perfectly. Now we live in Spain, our children attend an excellent school, and our business in Russia continues to thrive. Thank you for your professionalism and attention to detail!” — Ekaterina and Sergey K.

GARANT.in helped Ekaterina and Sergey’s family obtain a Spanish residence permit as financially independent individuals in record time and without unnecessary complications. If you are looking to secure a European residency and provide a comfortable future for your family, contact us! We will find the best solution for your situation and support you at every step of the process.