+34 657 095 011
menu
+34 657 095 011
|
|
  • English
  • Dansk
  • Deutsch
  • Español
  • Français
  • The Spanish Golden Visa

    A SPANISH VISA FOR INVESTORS

    The full costs involved of purchasing a constructed residence in Spain works out at approximately 10-11% for re-sale properties and approximately 12 % for new properties, if VAT (IVA in Spanish) is paid on the purchase price.

    Lawyers’ fees, at approximately 1% of the property price (plus VAT), must be added to these figures. We break down these costs below. The Golden Visa, described by some as a free pass for the rich, by others as an Immigrant Investor Programme, but known to most of us as simply as a Permanent Residency Visa issued to individuals (and their families, in most cases) who invest, usually but not exclusively through the purchase of property, an established minimum sum of money into Spain. It is relevant, of course, only to non EU nationals who do not already benefit from open borders across Europe. Application for a Golden Visa can be made through a qualified lawyer at a total cost of approximately 1,500 euros (plus 21 percent VAT.)

    ACCESS TO THE WHOLE OF EUROPE

    The additional value of a Golden Visa in Spain is automatic access to other EU countries, and Spain has topped the list of western European countries issuing this visa over recent years. Its official objective is to attract entrepreneurs to the country, stimulate foreign investment in Spain and create jobs. But for ordinary non EU nationals with more than half a million euros to spend on a second home in Spain, it is a fairly easy means of obtaining official residency for the entire family, with options for citizenship.

    ACCESS TO THE WHOLE OF EUROPE

    The additional value of a Golden Visa in Spain is automatic access to other EU countries, and Spain has topped the list of western European countries issuing this visa over recent years. Its official objective is to attract entrepreneurs to the country, stimulate foreign investment in Spain and create jobs. But for ordinary non EU nationals with more than half a million euros to spend on a second home in Spain, it is a fairly easy means of obtaining official residency for the entire family, with options for citizenship.

    WHAT ARE THE
    DOWNSIDES?

    There are some negatives, but not many. You cannot take out dual nationality in Spain, you must not have a criminal record, you must prove that you have travelled to Spain at least once in the first two years and once in the three subsequent years, and you must deposit enough money in a Spanish bank account to support you and your family in Spain. Many other countries have far stricter regulations.

    SPANISH GOLDEN VISA REQUIREMENTS

    Applicants for a Spanish Golden Visa must meet the requirements below:

    • To be 18 years old, or older.
    • To have entered Spanish territory legally.
    • To have not been refused entry to any Schengen area country.
    • To have no criminal record, both in Spain and in any other country, over the last 5 years.
    • To have public or private health insurance authorized to operate in Spain.
    • To have funds necessary to cover personal and family living expenses.
    • To have proof of the minimum 500,000 euros investment made through a Registry of Property certificate or, if title has not been registered, through a copy of the acquisition public deed of filing in the Deed of Registry.

    FREQUENTLY ASKED QUESTIONS
    ABOUT THE SPANISH GOLDEN VISA

    How can I get the Spanish Golden Visa?
    There are basically four ways to obtain the visa:

    1) Purchase a property worth more than 500,000 euros. It’s no good sharing the purchase with someone else, unless your individual investment equals 500,000 euros

    2) Buy shares in a Spanish company to the value of 1 million euros – or deposit this amount in a Spanish bank

    3) Possession of Spanish public debt worth 2 or more million euros.

    4) Invest in a business project that will be developed on Spanish territory. The project must create employment, give a boost to the scientific/technological advances of the country, or offer a minimum socio-economic impact.

    How long does it take to get the Spanish Golden Visa?

    Spain, compared to other EU countries, offers a streamlined fast track process on applications. Most Golden Visa decisions are made and notified within 10 working days. Residence permit decisions are made within 20 working days. Denial is unusual, only for criminal records and money laundering cases.

    Do I have to pay cash or can I use financing?
    You need to invest 500,000 euros, without financing. However, if the property you purchase costs more than this amount, you can obtain a mortgage for the rest. To be clear: if the property you are buying costs 2 million euros, you will need to directly invest 500,000 euros, but for the remaining amount you can get a mortgage. You can also make the purchase through a company, as long as it is not registered in a tax haven – and as long as you own 100% of said company.
    Can my family also come to Spain under the terms of my Golden Visa?
    Yes, you can bring your spouse and children with you (as long as they are under 21 years), providing you are applying as the main investor and providing you have enough funds to support them and health insurance which covers the whole family.
    How long can I stay in Spain with this Golden Visa?
    Once you have the visa you can legally stay in Spain for up to 2 years – you can then renew the visa for an additional 5 years. You must have visited Spain at least once per year and demonstrate that you still have ownership of the asset. After 10 years of residing in Spain you can apply for citizenship.
    If I purchased a property previously can I use this purchase to obtain the visa?
    Yes – as long as you purchased the property after 2014, which is the year this law came into force.
    Do I have to spend a certain amount of time in Spain to qualify for the Golden Visa?
    No, there is no obligation – you can remain a tax resident outside of Spain.
    Yes, it allows all holders to work anywhere in Spanish territory.
    No, there is no obligation – you can remain a tax resident outside of Spain.
    What if I want to sell the property?
    Properties can be bought and sold as long as the minimum investment threshold is maintained.
  • English
  • Dansk
  • Deutsch
  • Español
  • Français
  • +34 657 095 011 [email protected]