A great many British ” Swallows” – extended stay visitors to Spain – are seeking ways to stay longer than the allotted 90 day visit allowed by the Schengen rules which will be in effect from January 2021 once the Brexit transition period has ended, and much is being made of the so called “Golden Visa” or more correctly Residence Visa (Non-Lucrative)For non-working individuals (with a reliable, ongoing source of income and substantial savings) who wish to reside in Spain for more than 3 months.
Whilst there is as yet (October 2020) no concrete information on how this will apply to British Nationals Quote: Please note that for the period starting on 1st January 2021 new rules are yet to be agreed between the EU and the UK. source: http://www.exteriores.gob.es/Consulados/LONDRES/en/Consulado/Pages/Visas.aspx
Some idea of how such a system could work may be found in how citizens from the USA are currently treated on this matter. For them requirements include a medical certificate, police records check, proof of funds including a copy of most recent tax return in country of origin and proof of medical insurance amongst other things see simplified check list for USA citizens here
The proof of funds is likely to be the biggest barrier to some people’s application, and again whilst there is yet NO PUBLISHED INFORMATION about what might apply to British Citizens these are the figures for US citizens which may be used as a guide: Monthly proof of income 4 x minimum wage (IPREM) plus 1 x minimum wage for each dependant family member – in 2020 that amount would be 2151.36 euros plus a further 537.84 for each dependant family member; so for a married couple a total of 16,135.20 for a six month period.
Those that wish to investigate the possibility of using this route to entry should keep an eye on changes on the Spanish Embassy in the UK information on this webpage http://www.exteriores.gob.es/Consulados/LONDRES/en/Consulado/Pages/Visas.aspx
USA source info: http://www.exteriores.gob.es/Consulados/LOSANGELES/en/InformacionParaExtranjeros/Pages/Residence-Visa.aspx