Moving abroad

•

July 12, 2026

•

8 min read

Living in Spain as an expat: Complete banking and finance guide

Tunde Aladeloba

TABLE OF CONTENT

SHARE THIS POST

Spain is one of Europe's most popular destinations for expats, offering a high quality of life, excellent public services and a relatively affordable cost of living. Whether you're moving for work, retirement or a better lifestyle, understanding how to manage your finances is an essential part of settling in.

Expats living in Spain need a NIE (Foreigner Identification Number), a registered address, and a Spanish bank account to access local services. The cost of living is moderate by European standards, with a single expat needing €1,400 to €2,200 per month. Madrid and Barcelona are the most expensive cities.

From opening a bank account and understanding Spain's financial system to managing international payments and avoiding unnecessary transfer fees, this guide covers everything you need to know. Whether you're receiving a salary, pension or freelance income from abroad, you'll also learn how to manage your money efficiently while living in Spain.

Why do expats choose to live in Spain?

With more than 300 days of sunshine in many regions, fresh local cuisine and one of Europe's best public healthcare systems, Spain offers an appealing balance of affordability and quality of life.

Beyond the lifestyle, Spain has well-established international communities that make settling in much easier. Popular destinations such as the Costa del Sol, Valencia and Madrid are home to thriving expat populations, international schools, English-speaking services and active social networks, helping newcomers integrate quickly.

Whether you're relocating for work, retirement or remote living, Spain combines modern infrastructure with a welcoming culture and excellent connectivity to the rest of Europe. From vibrant cities to relaxed coastal towns, it offers a lifestyle that appeals to professionals, families, retirees and digital nomads alike.

Also read: Expat banking 101: Opening an account before relocation

What is the cost of living in Spain for an expat?

The cost of living in Spain varies depending on the city you choose, your lifestyle and whether you're renting in the city centre or further out. While Spain is generally more affordable than many Western European countries, major cities such as Madrid and Barcelona command higher housing costs. Beyond rent, you'll also need to budget for groceries, public transport, healthcare and everyday expenses. The table below provides a general comparison of average monthly costs for a single expat.

City	Average Monthly Rent (1-bedroom, city centre)	Food & Groceries	Public Transport	Healthcare
Madrid	€1,200–1,600	€300–400	€25–55	€60–200
Barcelona	€1,300–1,700	€300–400	€22–55	€60–200
Valencia	€900–1,200	€250–350	€18–40	€60–200
Seville	€800–1,100	€250–350	€20–35	€60–200
Málaga	€950–1,300	€250–350	€18–40	€60–200

Healthcare costs reflect typical private health insurance premiums for a healthy adult. Legal residents may also qualify for Spain's public healthcare system depending on their residency status and employment circumstances.

How to move to Spain as an expat: A step-by-step guide

Relocating to Spain involves a few essential administrative steps, regardless of whether it's for work, retirement or a new lifestyle. While the process differs for EU and non-EU citizens, planning ahead will make your transition much smoother.

Step 1: Secure the right visa (Non-EU citizens only)

Apply for a visa that matches your purpose of stay, such as a Digital Nomad Visa, Non-Lucrative Visa, Work Visa or Student Visa. EU citizens do not need a visa to live and work in Spain.

Step 2: Obtain your NIE

Apply for a Número de Identidad de Extranjero (NIE), your foreigner identification number required for employment, banking, taxes and most official transactions.

Step 3: Register your address (Padrón)

Register your residential address with your local town hall (Empadronamiento). This is often required when accessing public services and completing residency formalities.

Step 4: Open a Spanish bank account

A local bank account is essential for receiving your salary, paying rent, setting up direct debits and managing everyday expenses.

Step 5: Register for healthcare

If you're employed or legally resident, register for Spain's public healthcare system. Alternatively, many visa holders, including digital nomads and retirees, are required to maintain private health insurance that meets Spanish immigration requirements.

Also read: Managing money across two countries as an expat

What Visa options are available for expats moving to Spain?

Spain offers several visa pathways for expats, depending on whether you're relocating for work, study, retirement or remote employment.

Visa	Who it's for	Key Requirements	Application Process
Non-Lucrative Visa	Retirees or individuals living on passive income	Proof of sufficient financial means (typically 400% of Spain's IPREM, approximately €2,400–€2,500 per month for the main applicant), private health insurance and no employment in Spain	Apply through the Spanish consulate in your home country before travelling. Once in Spain, apply for your residence card.
Digital Nomad Visa	Remote workers and freelancers employed by or serving companies outside Spain	Minimum income of around 200% of Spain's minimum wage (approximately €2,760 per month), proof of remote work, qualifications or experience, and private health insurance	Apply from your home country through a Spanish consulate or, if eligible, from within Spain. Complete residence registration after approval.
Work Visa	Individuals with a job offer from a Spanish employer	Valid employment contract, employer sponsorship and work authorisation	Your employer usually obtains work authorisation before you apply for the visa through the Spanish consulate.
Student Visa	International students enrolled in recognised institutions	Proof of admission, sufficient financial resources, accommodation and health insurance	Apply through the Spanish consulate before departure and register upon arrival if your stay exceeds six months.
Golden Visa	No longer available for new applicants. Spain ended its Golden Visa programme in 2025, meaning residency through qualifying property investment is no longer an option.

Choosing the right visa depends on your reason for moving, income source and long-term plans. Before applying, ensure you meet the financial requirements and gather all supporting documents to avoid delays.

Also read: How to apply for a digital nomad visa in Spain

How to open a bank account in Spain as an expat

Opening a Spanish bank account is one of the first financial tasks you'll need to complete after moving. A local account makes it easier to receive your salary, pay rent, set up direct debits and manage everyday expenses.

Step 1: Choose the right account

Resident account: For individuals living and paying taxes in Spain.
Non-resident account: Suitable for those buying property, spending part of the year in Spain or preparing to relocate.

Step 2: Gather the required documents

Valid passport or national ID (EU citizens)
NIE (Foreigner Identification Number)
Proof of address
Proof of employment, income or student status (if requested)

Step 3: Visit a bank or apply online

Submit your documents, complete the application and verify your identity. Some banks allow non-residents to begin the process online before visiting a branch.

Step 4: Activate your account

Once approved, you'll receive your IBAN, debit card and access to online banking, allowing you to make transfers, pay bills and receive payments in Spain.

Best banking options for expats in Spain

Most expats in Spain open an account with a traditional bank to manage everyday finances. Popular options include Santander, BBVA and CaixaBank, which offer current accounts, debit cards, savings accounts and online banking. A local account is often needed to receive your salary, pay rent, set up utility bills and make everyday purchases.

However, traditional banks aren't always ideal for managing international money. Receiving payments from abroad can involve transfer fees, less competitive exchange rates and processing times of several business days. Some banks also charge account maintenance fees or have limited support for holding multiple foreign currencies.

Many expats also use digital banks such as N26, Revolut and Wise for their low fees, easy account management and seamless payments across Europe. While they're great for everyday banking, receiving international income can still come with challenges, including processing delays, transfer fees and exchange rate mark-ups that reduce the amount you receive.

However, Grey offers a simpler way to manage your international finances. With foreign currency accounts in USD, GBP and EUR, you can receive payments like a local, hold multiple currencies, convert your money at competitive exchange rates, and transfer funds to your Spanish bank account whenever you need them. It works alongside your local bank, giving you a faster and more cost-effective way to manage cross-border payments.

Tax rules every expat in Spain should know

Understanding Spain's tax system is essential before relocating, as your tax obligations depend on your residency status and the type of income you earn.

Tax residency

Tax residents: If you spend more than 183 days in Spain during a calendar year, or your main economic interests or immediate family are based there, you're generally considered a tax resident. Tax residents must declare and pay tax on their worldwide income.
Non-residents: If you spend fewer than 183 days in Spain and have no significant economic or family ties there, you're generally taxed only on Spanish-sourced income, such as rental income from property in Spain.

Income tax (IRPF)

Spain operates a progressive income tax system, with combined state and regional rates typically ranging from:

Up to €12,450: 19%
€12,451–€20,200: 24%
€20,201–€35,200: 30%
€35,201–€60,000: 37%
Above €60,000: 45–47% (higher in some regions)

The Beckham Law

Qualifying foreign professionals, entrepreneurs, and digital nomads may apply for Spain's Special Tax Regime, commonly known as the Beckham Law. If approved, you'll pay a flat 24% tax on Spanish employment income up to €600,000 for up to six tax years, while many types of foreign income remain exempt from Spanish taxation.

Wealth tax

Spain also levies a Wealth Tax on certain high-value assets. Tax residents are assessed on their worldwide net assets, while non-residents are taxed only on qualifying assets located in Spain.

Frequently asked questions

What is the NIE, and how do I get one?

The Número de Identidad de Extranjero (NIE) is a foreigner identification number required for most legal and financial activities in Spain. You'll need it to open a bank account, sign a rental agreement, pay taxes and register for utilities. You can apply through a Spanish consulate before moving or at a police station after arriving in Spain.

Can I keep my UK or US bank account while living in Spain?

Yes. There's no requirement to close your existing UK or US bank account when you move to Spain. Many expats keep their home-country account for pensions, savings or existing financial commitments while opening a Spanish account for everyday expenses. Using both accounts together often provides greater flexibility when managing international finances.

Do I need private health insurance to move to Spain?

It depends on your visa and residency status. Many non-EU visa holders, including those applying for the Non-Lucrative or Digital Nomad Visa, must have private health insurance that meets Spanish immigration requirements. If you're employed in Spain, you may qualify for the country's public healthcare system through Social Security contributions.

Can foreigners buy property in Spain?

Yes. Foreigners can buy residential or investment property in Spain without being residents. You'll need an NIE, a Spanish bank account and a local solicitor to complete the purchase. Before buying, it's important to carry out legal checks, understand local taxes and budget for additional costs such as notary and registration fees.

Do I need to pay tax in Spain on foreign income?

If you're a Spanish tax resident, you generally pay tax on your worldwide income, although tax treaties and special regimes such as the Beckham Law may reduce your liability. Non-residents are typically taxed only on income earned in Spain. A qualified tax adviser can help determine your obligations.

Can I use Grey to receive payments while living in Spain?

Yes. Grey allows you to receive international payments through foreign currency accounts in USD, GBP and EUR while living in Spain. You can hold multiple currencies, convert funds at competitive exchange rates and transfer money to your Spanish bank account whenever you need it, making cross-border money management much simpler.

Moving to Spain is easier when your finances are set up for both local and international life. While a Spanish bank account supports your everyday needs, Grey helps you manage global income with ease. Open a Grey account or download the app today to receive international payments, hold multiple currencies and bank across borders confidently.

Last updated:

October 8, 2026

IF YOU ENJOYED THIS, CHECK THESE OUT

Getting paid from Europe and the US while living in India

Adeolu Titus Adekunle

•

January 15, 2026

•

2 min read

Earning in euros or dollars while living in India is a common goal for many remote workers, digital nomads, and expats. This often translates to higher earning potential, especially when converted to rupees. Unfortunately, high fees, payment delays, complex paperwork and forced currency conversions often make getting paid from Europe and the US while living in India very challenging.

However, there are various ways to manage international payments seamlessly while working in India. Here is how professionals in India efficiently receive payments from Europe and the US, and keep more of their earnings.

Why getting paid from Europe and the US can be tricky

Most traditional Indian banks are designed for just domestic transactions rather than foreign payments. When payments arrive via international wire, they may pass through multiple intermediary banks and incur extra charges. On top of that, you are forced to convert from EUR or USD to INR immediately the money lands in your accounts, and the rates are often not that great.

Due to processing and the transaction network, it may take a few days for the payment to reach your account. Lack of control over fees, transaction speed, and conversion can be frustrating for many professionals. The uncertainties make financial planning somewhat difficult.

Also read: Why Bengaluru is India’s unofficial capital for remote work and startups

How to get paid from Europe and the US while living in India

Here are the popular options for managing international payments from Europe and the US while living in India

Bank transfers and SWIFT payments

Many European and US companies opt for international bank transfers via SWIFT because it is reliable. This method is widely trusted and works well for both large payments and regular salaries. However, it has drawbacks. Transfers may take several business days, and fees are deducted before the money even gets to your account. You may also need to provide additional documentation to access your earnings, which can be cumbersome.

While SWIFT transfers are acceptable for occasional payments, they are rarely the most cost-effective option for frequent international income.

Using digital payment platforms

Platforms such as PayPal, Payoneer and Skrill are popular because they are easy for foreign clients to use. Payments arrive quickly, and you can withdraw funds to your Indian bank account.

However, convenience comes at a cost. You need to be mindful of platform fees, withdrawal charges, and currency conversion mark-ups that can significantly reduce your earnings. Some users also experience account limitations or compliance reviews that temporarily restrict access to funds. This is why it is best to compare options before choosing a digital payment solution.

Payoneer: Ideal if you work through international freelance marketplaces like Upwork or Fiverr. It provides multi-currency accounts and integrates seamlessly with these platforms, making withdrawals straightforward.
Razorpay: An India-based payment gateway that allows businesses and some freelancers to accept international card payments in over 130 currencies directly into their Indian bank account.
PayPal: Widely used and trusted by global clients. However, while PayPal supports swift transfers, it comes at a higher cost.

Also read: Payment methods Indians often miss: alternatives beyond PayPal and bank transfers

Multi-currency accounts

For many Indians earning from Europe and the US, multi-currency accounts have become the most efficient payment solution. These payment platforms help you open accounts in various currencies such as USD, EUR, and GBP. This way, clients can pay you as if they were making a local transfer within their country.

LDMAG1

You also don’t have to convert your earnings to INR immediately, as a multi-currency account allows you to hold foreign currency and convert when exchange rates are favourable. You can also spend foreign currencies directly to pay for your subscriptions, trips, and online purchases. This level of control protects your income because fees are typically low, transactions are swift, and there are no hidden fees.

Grey: Tailored to remote workers in India with international clients. Users can access USD, EUR, and GBP account details for international payments within minutes. Transaction fees are generally low with mid-market exchange rates, and transactions are nearly instant. You can also get a USD debit card for your online payments and automated invoicing to streamline your finances. Grey also integrates seamlessly with global freelancing platforms (like Fiverr and Upwork) and online marketplaces (like Etsy and Amazon), allowing you to access your earnings without delay.
Wise: Offers local account details (USD, EUR, GBP) so clients can pay you via a local transfer, avoiding SWIFT fees. Funds are converted at the mid-market exchange rate with low, transparent fees, ensuring you keep more of your earnings.
Winvesta: A fintech company providing cross-border payments and multi-currency accounts for Indians. Users can manage payments in USD, EUR, GBP and other foreign currencies.

Also read: How remote workers in India can switch from traditional banks to Grey.

Managing your global income with Grey

Getting paid from Europe and the US while living in India does not have to be stressful. With the right tools, you can maximise your earnings and streamline your finances. Grey provides multi-currency accounts supporting USD, EUR, and GBP. This allows professionals in India to receive payments from Europe and the US easily. You can hold foreign currency, convert at competitive rates, and withdraw to your Indian bank account when it suits you.

‍

What remote workers should plan before relocating

Adeolu Titus Adekunle

•

January 27, 2026

•

2 min read

The freedom to work from anywhere as a remote worker is a flex that we don’t talk about enough. Unless you're retiring at 40 with investments to last for a lifetime, remote work is the closest thing to freedom and a premium work-life balance. But as you move around, failing to plan can be a plan to fail.

In this article, we look at the essentials of relocating and the steps you must take before you move. See this as your travel checklist as you pack your bags.

Cross-check the legal status and visa requirements

Moving to a new country to work isn’t always straightforward, and it often requires some paperwork. While many countries don’t expressly permit working remotely on a tourist visa, they don’t enforce compliance. Visa options like digital nomad visas, long-stay visas, and residency permits are often better for remote work. You should understand your visa duration, the rules for visa extensions, work permits, and other local regulations that apply in your destination.

Also read: Visa types every remote worker should know

Review your tax obligations

Often, moving to a different country doesn’t immediately affect your tax obligations. But working abroad can complicate your tax situation over time. You may be required to pay taxes in your home country, your host country, or both, depending on your residency status, the local tax regulations, and how long you stay. Some countries consider you a tax resident after a certain number of days. Planning ahead helps you avoid double taxation, penalties, or running around at the last-minute to remain compliant. You can consult a tax professional if you are still unclear.

Estimate the living cost and budget appropriately

Relocating can be very expensive, and you don't want to be shocked by the living costs. Research the average living costs, including rent, food, transportation, groceries, utilities, and fun activities. Check flight prices and book in advance to save money. You can use a spreadsheet for your monthly budget based on your income, and don’t forget to save for rainy days.

Also read: The ultimate guide to budgeting in multiple currencies for digital nomads

Consider internet connectivity and work infrastructure

Don’t choose a destination just based on aesthetics or the abundance of leisure activities. While you should strive for a good off-work lifestyle, you must prioritise a reliable internet and power supply. Check average internet speeds, mobile data options, and power reliability. Identify coworking spaces or cafés as backups in case your home connection fails.

Relocating may significantly change your working hours. Decide whether you will adapt to your clients’ time zones or adjust your workload. Communicate this change clearly to your clients or employers so they can adjust their expectations accordingly. Clear communication expectations with employers or clients help avoid friction and burnout.

Get health insurance

While no one wishes for it, medical emergencies in an unfamiliar country can be frustrating. It is even worse if you have to pay out of your pocket. Getting travel health insurance before you move might be a smart, protective step to avoid paying too much for health care.

Also read: Getting health insurance and saving in foreign currencies

Set up a reliable payment system

Managing your international payments when you move to another country can be a struggle. It might take some time to open a local bank account, and your old payment system might not be very helpful in your new location. To avoid high transaction fees, exchange rate markups, and delayed payments that can eat into your earnings or affect your cash flow, it is best to plan ahead. Your best bet is to use a digital payment solution that offers multi-currency accounts and supports local withdrawals at the market exchange rate. This ensures you can move around the world, receive your payments, and withdraw locally with ease.

LDMAG1

Managing your finances on the move

Relocating as a remote worker is more than a change of address. It is a shift in how you manage work, your health, and finances. While the prospects can be exciting, it is imperative that you look before you leap. Grey ensures you have a dependable travel partner to help manage your finances anywhere you find yourself. With multi-currency accounts supporting USD, EUR, and GBP, you can easily receive payments from your international clients and withdraw to local accounts at competitive rates. Grey over a transparent fee structure with low charges to ensure you don’t lose a chunk of your money. Grey’s virtual USD debit card lets you make international transactions, giving you more financial freedom.

Get started on Grey’s website or download the mobile app today to manage your finances on the move.

‍

Getting paid by US and European clients while living in Morocco

Adeolu Titus Adekunle

•

January 27, 2026

•

2 min read

Finding US and European clients is a familiar struggle for many remote workers and businesses, but getting paid efficiently is a whole different ball game. Importantly, how you manage your international payments determines how much of your income you actually keep. High fees, payment delays, and forced currency conversions can be frustrating and reduce your earnings if you don’t plan how to receive your payment efficiently. Here are your top options for receiving payments from US and European clients.

Also read: Highest-paying remote jobs for professionals in Morocco

Why payments can be challenging from Morocco

One reason many US and European clients might be hesitant to work with Moroccans is payment challenges. It would be easier to pay via local bank transfers such as ACH (US) or SEPA (Europe). Unfortunately, Moroccan bank accounts don’t support these systems directly. Payments are usually routed through international wire transfers. And while this option can be reliable, international wire transfers are slow and expensive. Sometimes, intermediary banks also add their own charges. As soon as the money reaches your account, it is converted to MAD at an unfair exchange rate.

How to get paid by US and European clients while living in Morocco

Here are some of the most popular options for receiving international payments in Morocco, with their benefits and shortcomings.

Traditional bank transfers

Despite high fees, slow payment processing, and forced conversion at unfavourable exchange rates, SWIFT transfers to Moroccan banks remain very popular, especially for larger payments and regular salaries. It seems to be a ‘more official’ payment option for international clients.

LDMAG1

Digital payment platforms

The arrival of digital payment platforms like Payoneer and PayPal tilted the odds in favour of Moroccans working with US and European clients. These services simplify international transactions and are faster than bank transfers.

Unfortunately, they also have drawbacks. Between high platform fees, withdrawal charges, and markups on exchange rates, many users end up losing a huge fraction of their income. Digital platforms are also prone to restrictions and account suspensions.

Also read: Wise vs PayPal vs Payoneer: which works better for Moroccans?

Using multi-currency accounts

Multi-currency accounts are now becoming the mainstay of cross-border payments in Morocco. Various fintech platforms let you have bank details in USD, EUR or GBP, allowing clients to pay you as if you were based in the US or Europe. You can receive payments via ACH or SEPA, keep the money in foreign currency, and convert to dirhams whenever you wish. This option significantly reduces transaction fees, speeds up international payments, and gives you control over your earnings.

Also read: How freelancers in Morocco can receive payments from US, UK & EU clients

A smarter way to manage international income

If you are looking for the most efficient way to manage your international earnings, you should consider Grey. The payment solution is designed to help Moroccans swiftly receive payments in USD, GBP, and EUR at low costs. You can keep your income in foreign currency and withdraw to your local MAD bank at competitive exchange rates. Users can also access a virtual USD debit card for seamless online payments and automate their invoicing in various currencies.

‍

Planning a global work lifestyle from the US

Adeolu Titus Adekunle

•

January 27, 2026

•

2 min read

A global work lifestyle is considerably different from the traditional work setting of people who earn locally. The traditional work setting is more rigid, providing structure for work hours, payment processing, and real-time communication and collaboration. On the other hand, remote workers and freelancers working with international or multinational companies and clients have to ensure this structure on their own. It entails managing collaboration and communication across different time zones, finding a sustainable work-life balance, and managing your finances right.

Delving into the global work lifestyle from the US can be daunting, but with the right plan in place, you can pull it off. We are also here to guide you through the process and ensure a stress-free experience.

Also read: Using your money abroad: a simple guide for US travellers

Define what your global work lifestyle entails

Global work lifestyle varies from person to person, depending on the work structure. You can work remotely for a US-based company while exploring other countries as a digital nomad. Some other professionals work for companies outside the US while living in the US. Whatever bracket you fall into, it is essential that you define what your work role requires and balance it with your social life to have the best experience. You may be required to clarify your remote work status with your employer. Not all remote jobs allow you to work from anywhere due to labour laws and tax implications.

Choose a desirable location

Once you have clarified the degree of freedom you have as a remote worker, you can easily plan where you’ll settle down. Being able to move around is one of the perks of being a remote worker, but you must properly research your next destination to avoid getting stranded. Consider the time zone and ensure it overlaps significantly with the rest of the team and your clients. Otherwise, you will be on a Zoom call by 2 am, half-asleep, and your manager is expecting you to contribute. Reliable internet, time zone alignment, visa rules, and the cost of living also matter when moving to a new country.

Plan your taxes

Many remote workers end up paying more taxes on their global income than they should because they aren’t aware of the local tax regulations. Your country might have Double Tax Agreements with other countries. This means that if you already file your taxes in one country, you don’t have to pay again in another. The US imposes a global tax, meaning that, as a US citizen, you must pay your taxes to the US government. Understanding tools like the Foreign Earned Income Exclusion (FEIE), foreign tax credits, and state tax residency rules can significantly affect how much you’ll pay.

Also read: How to handle foreign income taxes as a remote worker

Set up a reliable payment solution

Many global professionals struggle to manage their income when working in a different country with a different currency. Local banking regulations, unfair conversion rates, delayed transaction processes, and high charges cause a lot of discomfort and reduce your earnings. Opting for digital payment options with multi-currency support allows you to receive payments in US, EUR, and GBP efficiently. Platforms like Grey even provide a travel-friendly virtual USD card to support your spending abroad.

LDMAG1

Have a sustainable routine

It is easy to get caught in the social frenzy of remote work and forget it is actually about having more flexibility around work. You might need to consciously remind yourself that you’re not on vacation. Building a sustainable routine helps you create a structure around the flexibility of remote work. You also need some discipline to ensure you remain focused, productive, and grow. Have dedicated work hours and off times, have a workspace (within your residence, a café, or a co-working space), and set boundaries.

Build your savings and emergency funds.

As a global worker, it is very likely that your income and expenses fluctuate. This poses a major dilemma for many, especially when income is lower. Having some financial stability is very important for a positive experience as a global worker. Building your savings and emergency funds can bail you out on rainy days. Save up enough to last three months’ worth of expenses. Saving in USD helps you hedge against inflation, so don’t convert all your earnings to a local currency.

Also read: The ultimate guide to budgeting in multiple currencies for digital nomads

Managing your finances as a global worker

A global work lifestyle requires a global financial plan. Planning your global work lifestyle without adequately considering setting up a reliable payment option can leave you stranded in a new country or fork out a lot of money to fees and unfair conversions. Setting up a Grey account gives you multi-currency accounts that support USD, EUR, and GBP payments, so you can receive your earnings without stress. Apart from fast payment processing and low transaction fees, Grey allows you to withdraw to local bank accounts at favourable exchange rates. If you are planning for a global work lifestyle, then you have to plan with Grey.

Get started on Grey today or download the app to enjoy a reliable global payment solution for global workers.

‍

UAE Golden Visa: Eligibility and how to apply

Tunde Aladeloba

•

October 15, 2026

•

2 min read

The UAE Golden Visa offers long-term residency to investors, entrepreneurs, skilled professionals and individuals with exceptional talent who want to live and build their future in the United Arab Emirates. Depending on the eligibility category, the visa is typically valid for five or ten years and can be renewed.

Unlike standard residency permits, the UAE Golden Visa allows eligible holders to live, work and study in the country without requiring a national sponsor. It also offers greater flexibility for individuals seeking long-term stability, career opportunities and business growth in the UAE.

Eligibility depends on factors such as professional qualifications, salary, investment value, business ownership or recognised achievements. Applicants must meet the specific requirements for their chosen category and provide supporting documents.

The application process generally involves identifying the appropriate eligibility route, gathering the required documents and submitting an application through the relevant UAE government authority or approved channel.

Understanding the eligibility criteria, documentation requirements and application process can help prospective applicants make informed decisions before applying for the UAE Golden Visa.

What is the UAE Golden Visa?

The UAE Golden Visa is a long-term residence permit introduced by the United Arab Emirates to attract investors, entrepreneurs, skilled professionals, scientists and individuals with exceptional talents. It allows eligible foreign nationals to live in the country and pursue career, business or educational opportunities without needing a traditional national sponsor.

The visa is generally issued for five or ten years, depending on the applicant’s eligibility category and the applicable requirements. It is renewable, provided the holder continues to meet the relevant conditions. The validity period offers greater stability for individuals and families planning to establish long-term roots in the UAE.

One of the key benefits of the UAE Golden Visa is self-sponsored residency. Unlike many standard employment-based residence permits, holders do not need an employer or UAE national to sponsor their residency. This provides greater independence when changing jobs, managing businesses or exploring professional opportunities.

For eligible applicants, the UAE Golden Visa offers more than extended residency. It provides flexibility to build a career, invest, study and plan for the future in one of the Middle East’s leading business and lifestyle destinations, subject to applicable laws and visa conditions.

Who Is Eligible for the UAE Golden Visa?

Your eligibility for the UAE Golden Visa depends on your professional achievements, investments, qualifications or exceptional abilities, with specific requirements for each applicant category.

Investors

Investors may qualify through eligible public investments or real estate investments that meet the UAE’s financial and regulatory requirements. Applicants must provide supporting documents to demonstrate that their investments satisfy the applicable criteria.

Entrepreneurs

Entrepreneurs may qualify through business ownership, approved projects or demonstrated entrepreneurial achievements, depending on the relevant eligibility category. Applicants must meet the applicable conditions and provide evidence of their business activities or project qualifications.

Skilled professionals

Skilled professionals may be eligible based on their occupation, educational qualifications, employment status, salary and other requirements. Eligibility depends on the applicant’s professional category and the relevant government regulations.

Students and graduates

Outstanding students and graduates may qualify based on academic performance, examination results and recognised institutional criteria. Specific requirements apply depending on their educational background and the relevant eligibility pathway.

Exceptional talent

Individuals with exceptional abilities in fields such as science, technology, arts, culture and sports may qualify through relevant approvals. Applicants may need to demonstrate recognised achievements, specialised expertise or professional distinction, depending on their field.

Investment routes and thresholds

The UAE Golden Visa offers long-term residency to eligible investors through property ownership and qualifying capital investments. The minimum investment threshold for these routes is generally AED 2 million, subject to the applicable eligibility criteria and documentation requirements.

Property investment

The property investment route requires real estate with a combined value of at least AED 2 million. Multiple properties may be combined to meet the threshold. Certain off-plan and mortgaged properties may qualify, depending on the emirate and applicable conditions.

Capital and public investments

Investors may qualify by investing at least AED 2 million in an eligible UAE investment fund or qualifying business. An approved bank deposit may also meet the requirements, subject to the relevant regulations and supporting documentation.

The 23 Lakh Rumour

Online claims about a UAE Golden Visa costing approximately ₹23 lakh, or AED 100,000, have caused confusion. This amount should not be mistaken for the standard investment threshold for the Golden Visa. Any offer promising residency at a significantly lower cost should be verified through official UAE government channels before payment.

Also read: How UAE freelancers save on currency exchange with Grey

How to apply for the UAE Golden Visa

Step-by-Step application process

1. Check your eligibility and apply

Choose the appropriate Golden Visa category and submit your application or nomination request through the relevant authority. Upload supporting documents, such as your property title deed, investment evidence or salary certificate, as required.

2. Obtain an entry permit if required

If you are applying from outside the UAE, check whether you need an entry permit to complete the residency process. Eligible applicants may use a six-month multiple-entry permit, subject to approval and applicable rules.

3. Complete your medical fitness test

Once in the UAE, complete the required medical fitness examination at an authorised centre. This typically includes a blood test and chest X-ray.

4. Submit your final application

Provide the remaining documents, including your medical fitness results and proof of health insurance, where required. Pay the applicable fees and wait for the authorities to process your application.

5. Complete biometrics and receive your Emirates ID

Attend your biometrics appointment if required. Once your application is approved, your Emirates ID and Golden Residency will be processed.

Where to apply

You can submit your UAE Golden Visa application online through the relevant government portal or get assistance in person at an authorised service centre.

ICP: The Federal Authority for Identity, Citizenship, Customs and Port Security handles applications across Abu Dhabi, Sharjah, Ajman, Umm Al Quwain, Ras Al Khaimah and Fujairah.
GDRFA Dubai: If your application is connected to Dubai, use the General Directorate of Residency and Foreigners Affairs.
Amer and authorised typing centres: Visit an approved centre in the UAE for help preparing and submitting your application.

Required documents

Prepare the following documents before applying. Additional requirements depend on your eligibility category.

Valid passport: A clear copy of your passport. Six months' validity is commonly recommended.
Current visa or status documents: Provide your existing UAE residence visa, visit visa or cancellation documents, as applicable.
Medical fitness certificate: Submit the certificate issued by an authorised UAE medical centre when required.
Health insurance: Provide valid UAE health insurance or any alternative documentation permitted for your category.
Passport photograph: Prepare a recent digital photograph that meets the UAE authorities' specifications, typically with a white background.

Money and banking in the UAE

The UAE dirham (AED) is the country’s official currency and is pegged to the US dollar. Understanding money and banking in the UAE helps you manage everyday expenses, receive your salary and plan your finances. Opening a local bank account typically requires identification, residency documents and other information, depending on the bank.

If you manage money across countries, a multi-currency account makes it easier to handle international finances. Grey offers a convenient way to manage multiple currencies, giving you greater flexibility when receiving, holding and moving money across borders.

When you need to send money from the UAE to Nigeria, Grey provides a practical solution for cross-border transfers. Its multicurrency services help simplify international money management, whether you are supporting family, handling personal expenses or managing business payments. With Grey, you can streamline your international finances and make cross-border money transfers more convenient.

Frequently asked questions about the UAE Golden Visa

Who qualifies for the UAE Golden Visa?

Eligible applicants include real estate investors, entrepreneurs, skilled professionals, exceptional talents and outstanding students. Each category has specific financial, academic or professional requirements. Applicants must meet the relevant criteria and provide supporting documents to qualify for long-term UAE residency.

How long is the UAE Golden Visa valid?

The UAE Golden Visa is generally valid for five or ten years, depending on your eligibility category. It can be renewed if you continue to meet the applicable requirements. This long-term residency offers greater stability for professionals, investors and families planning to live in the UAE.

How much do you need to invest?

The minimum investment threshold for qualifying property and capital investment routes is generally AED 2 million. Skilled professionals may qualify through a separate route, subject to salary, qualification and employment requirements, including a monthly salary threshold of AED 30,000 for eligible categories.

Can your family join you?

Yes. Golden Visa holders can sponsor eligible family members, including their spouse and children, subject to applicable requirements. They may also sponsor domestic workers under the relevant rules. This allows families to enjoy greater stability while living together in the UAE.

How do you apply for the UAE Golden Visa?

Applications can be submitted through the relevant government authority, including ICP or GDRFA Dubai, depending on your emirate and category. Prepare your supporting documents, submit the application, complete required medical checks and biometrics, and pay applicable fees.

How can you move money to the UAE?

You can transfer funds to the UAE through international bank transfers or authorised money transfer providers. A local UAE bank account can help manage incoming funds and everyday expenses. Keep supporting documents for larger transfers and comply with applicable banking and anti-money laundering requirements.

Receiving foreign income in Morocco without a domiciliary account

Adeolu Titus Adekunle

•

February 18, 2026

•

2 min read

Is it possible to receive foreign income in Morocco without a domiciliary account? The simple answer is yes. However, it is not always straightforward, especially with the wrong payment services.

Domiciliary (foreign currency) accounts were once the standard for Moroccans earning in USD, EUR, or GBP, but they are becoming less popular. Opening one often involves extensive paperwork, multiple bank visits, minimum balance requirements, and strict compliance with local regulations. Beyond these, SWIFT fees, intermediary charges, and poor conversion rates when converting to MAD make them too expensive for the average person.

The good thing is that you don’t need a traditional domiciliary account at banks such as Attijariwafa Bank or Banque Centrale Populaire to manage international payments efficiently. Freelancers, remote workers, and expats earning from abroad can not find alternatives that suit their needs.

This article explains how Moroccans can receive foreign income without a domiciliary account and describes the pros and cons of each option.

Why do many Moroccans avoid domiciliary accounts?

A domiciliary account allows you to receive foreign currencies without immediate conversion to MAD. On paper, this sounds ideal. In practice, these accounts come with significant problems. A domiciliary (or foreign currency) account allows you to receive USD, EUR, or GBP without automatically converting to MAD. However, these accounts have considerable limitations, including:

You have to visit the banking hall.
It might require cumbersome paperwork.
It takes a while to open an account.
SWIFT fees and other bank charges can eat into earnings.
There is limited flexibility when trying to make online payments and subscriptions.
Transactions may take a few days to complete.

How Moroccans receive foreign income without a domiciliary account

There are three main alternatives: online payment platforms, fintech multi-currency accounts, and cash pickup services. Each serves a different purpose, depending on how often you get paid and how much control you want over your money.

LDMAG1

PayPal

PayPal is one of the most widely recognised international payment platforms. Many foreign clients already trust and use PayPal, which makes it easy to request payments without lengthy explanations or setup.

PayPal allows Moroccans to receive payments in foreign currency and withdraw funds to a local bank account or card. Transactions are usually instant, and the platform is easy to use. However, PayPal is designed more for convenience than cost efficiency. Withdrawal requires automatic conversion to MAD, often at exchange rates that include hidden mark-ups. Fees can be substantial, especially for regular income, and users have little control over when or how conversion happens. There are also frequent reports of account restrictions and suspensions that can interrupt your cash flow or lead to losses.

PayPal works best for occasional payments or short-term use, but it becomes expensive and restrictive for consistent freelance or remote income.

Fintech platforms and multi-currency accounts

This is easily a top recommendation for managing international payments in Morocco. Most of these platforms are designed to address the challenges posed by the rigid traditional domiciliary account payment system. They let you complete cross-border transactions like it is local payments and convert to MAD whenever you like.

Also read: Top digital nomad hotspots in Morocco for remote workers

Grey

Grey offers Moroccans USD, EUR, and GBP account details that you can share directly with international clients or employers. You can hold your income in foreign currency, convert it to MAD when exchange rates are favourable, and withdraw it to your Moroccan bank account.

Grey also supports automated invoicing, integrates with freelance platforms, and provides virtual cards for paying subscriptions, tools, and services directly in foreign currency. This setup gives freelancers and remote workers far more control over exchange timing, fees, and spending, making it well-suited for regular international income.

Also read: How freelancers in Morocco can switch from traditional banks to Grey

Payoneer

Payoneer is widely used by freelancers working with global marketplaces and companies. It offers foreign accounts and allows withdrawals to Moroccan bank accounts. Payoneer is reliable and well-integrated with major freelance platforms, but its fee structure can be cumbersome. Currency conversion and withdrawal fees can be relatively high, and customer support is often slow. It remains a practical option for platform-based freelancers, though it offers less flexibility than newer fintech solutions.

Wise

Wise is known for transparent pricing and mid-market exchange rates. While it offers strong multi-currency functionality globally, features for Moroccan residents are limited, especially regarding local withdrawals and employer payments. Wise is effective for individuals with international banking needs, but may not be the most seamless solution for Moroccan-based freelancers who rely on frequent payouts.

Also read: Freelancing legally in Morocco: licences, taxes and foreign income rules

Cash pickup services

Cash pickup services are another way to receive foreign income without a domiciliary account, but you should treat them more like a fallback than as your main payment solution.

MoneyGram and Western Union allow senders abroad to transfer money for cash pickup in Morocco without a bank account. These services provide fast access to cash and nationwide availability. However, they come with high fees, unfavourable exchange rates, and low transaction limits. They are also not recommended for freelancers and remote workers with regular foreign income, invoicing, and financial planning.

Managing international payments with Grey

You don’t need a domiciliary account to receive foreign income in Morocco. Freelancers, remote workers, and expats who regularly earn in USD, EUR, or GBP need an alternative that suits their needs. Grey offers you control over exchange rates, lower fees, faster payment processing, and the flexibility required to manage a global income. With the newly improved Grey cards, you now manage your payments globally by creating multiple cards, spend directly from your balance without top ups, and link with Apple Pay and Google Pay. Grey bypasses the paperwork and restrictions of domiciliary accounts, allowing you maximise you income without hassles.

‍