Golden Visa in Spain
Spain launched its golden visa programme in 2013. An investment of €500,000 in real estate will gain family residency. The investment must be a minimum of €500,000 cash regarding a property investment. You can invest any amount over €500,000 on a property in Spain. For example you may buy a property for €800,0000 which €300,000 of this could be a Spanish mortgage. However, you could not buy a €800,000 property and take a €400,000 mortgage.
The Spanish investor visa can be renewed every two years. After five years it is possible to gain permanent residency and after ten years citizenship. It is not necessary to live in Spain in order to retain and renew the residency visa permit.
The Golden Visa scheme is an attractive option for Non-Eu Citizens who wish to obtain access to the EU. The benefits are not only for the investor, but include immediate family.
Immediate family is described as a husband / wife and their children or domestic partners and their children (it also includes children who are over 18, but whom are still financially dependent upon their parents).
In order to qualify for a Golden Visa the following criteria must be met:
• Invest at least €500,000 in Real Estate. (This can be multiple properties, single property, residential or commercial premises).
• Over 18 years of age
• Have sufficient health insurance from an insurance company that operates in Spain
• Financial means to cover family/personal expenses
• Never entered Spain illegally
• A clean criminal record in Spain and the country of residence during the last 5 years
• The owner of the property must travel to Spain at least once a year
What documents are needed?
If the property sale has been completed then you will need the ‘Property Registry Certificate’ to prove that that the sale has taken place. If the sale has not yet been finalised, then you will need a copy of the ‘Acquisition Public Deed’ and proof of having filed that deed at the registry.
What about taxes?
When you buy real estate and obtain the Spanish residence permit, you will be liable to some tax. Which taxes and how much depends on the amount of time you spend in Spain during the year. If you stay in Spain for over 6 months you are then regarded as a Spanish resident and therefore your worldwide assets and income will be now taxed in Spain. If you are in Spain for a less than six months, you only pay taxes on the initial purchase of your real estate and thereafter on the value of your assets in Spain.
Where do I apply?
Contact us to start your application via the enquiry form below, WhatsApp button or call +34 968 970 733
Golden Visa Enquiry Contact Form