Golden Visa Spain

The so-called Golden Visa is a residence visa for non-EU citizens who make a real estate investment in Spain equal to or greater than 500,000 euros. The aim of the Golden Visa, approved in Spain in 2013 and also in force in other countries such as Malta, Portugal or the United Kingdom, is to attract foreign investors who want to buy homes or other properties and who, in return, are made easier to obtain a residence permit.

The so-called Golden Visa is a residence visa for non-EU citizens who make a real estate investment in Spain equal to or greater than 500,000 euros. The aim of the Golden Visa, approved in Spain in 2013 and also in force in other countries such as Malta, Portugal or the United Kingdom, is to attract foreign investors who want to buy homes or other properties and who, in return, are made easier to obtain a residence permit.

Looking for a golden visa? contact us!

Golden Visa Application Requirements

In order to successfully apply for a Golden Visa during 2019, the applicant must meet the following requirements:

  1. You must be a resident of a country outside the European Union. You must not forget that it is intended for investors from outside Europe.
  2. Be over 18 years of age.
  3. Have no criminal record.
  4. Have a public or private medical insurance in Spain.
  5. Demonstrate that you have sufficient financial means to live in Spain and support your family.
  6. Make the corresponding investment which, depending on which one it is, will be of one amount or another. Here you have a list of all possible investments:
    • Make an investment in public debt for an amount equal to or greater than two million euros.
    • Make an investment in bank deposits in Spanish entities or in shares of Spanish companies worth more than one million euros.
    • Buying real estate in our country for a value greater than 500,000 euros.
    • Start up a business in Spain that must meet the following requirements:
      • To create jobs.
      • With an important impact on the country or region at a socioeconomic level.
      • That represents a scientific or technological novelty

Documentation needed to get the visa

We have seen how one of the fundamental requirements to obtain a residence visa for real estate investment is to demonstrate, by means of the corresponding document, that the investment has been made.

The question now is: which documents exactly justify this investment? 

If we want to obtain the golden visa through the investment of real estate, we must provide as proof of the purchase of the property the certification of domains and charges of the Land Registry, and the deed of sale of the purchased assets.


In the case of investing in Spanish shares or participations: a declaration of the investment from the Investment Registry of the Ministry of Economy in the case of participations; and a certificate from the financial intermediary registered with the National Securities Market Commission (Comisión de Nacional de Mercado de Valores) for the purchase of shares.


If what we have done is invest in Spanish public debt, we will need a certificate from the Bank of Spain or the financial institution with which we have managed the investment in which we can clearly see how we are the holders of that purchase.


Finally, for investments in bank deposits, you will need the certificate issued by the financial institution with which you have contracted the deal, which states that you are the sole holder of that deposit.

 

Who can benefit from this Visa?

The golden visa is designed for all citizens from outside the European Union who intend to make an investment in Spain as a means to obtain their residency.

The countries in which this residence permit has gained the most popularity are China and Russia, without any doubt.

However, people from Iran, Venezuela, and Lebanon register notorious activity with this visa too.

Their main motivation? They have also found in investing in Spain a place to deposit their money; thus earning the ticket to a visa that largely avoids most of the procedures of the other permits.

Benefits of the Golden Visa

Preferential treatment is one of the main benefits of gold visas. With these visas you get the residence permit by the fast track, both for the first immediate grant valid for one year and to process renewals every two years,” explains the lawyer.

In addition, the residence visa derived from the Golden Visa allows free movement through the rest of the 26 European countries of the Schengen area. This freedom of movement is highlighted as one of the main reasons for processing the visa for real estate investment. But there is more: the Golden Visa makes the granting of visas more flexible not only for the person making the investment but also for his spouse and for children under 18, and access to public schools. Newborns in Spain will obtain Spanish passports at the end of the year, without having to meet any other requirements.

Golden Visa Taxes

When you buy real estate and obtain the Spanish residence permit, you will of course be liable to some tax. Which ones and how much depends on how much time you spend in Spain during the year. If you stay in Spain for over 6 months, you’re counted as a Spanish resident and your worldwide assets and income will be taxed in Spain. If you’re in the country for a less amount of time, you only pay taxes on the initial purchase of your real estate and thereafter on the value of your assets in Spain.

In addition, the residence visa derived from the Golden Visa allows free movement through the rest of the 26 European countries of the Schengen area. This freedom of movement is highlighted as one of the main reasons for processing the visa for real estate investment. But there is more: the Golden Visa makes the granting of visas more flexible not only for the person making the investment but also for his spouse and for children under 18, and access to public schools. Newborns in Spain will obtain Spanish passports at the end of the year, without having to meet any other requirements.

Looking for a golden visa? contact us!

How much time does it take to get the golden visa?

Once all documentation has been submitted to the competent authority, 20 days may elapse before a decision is reached.

After having received this resolution with favourable results, we have a period of 1 month to apply for the visa at the Spanish consulate located in the investor’s country. It will be at that moment when we will have to travel to Spain, since we will have to present the Golden Visa application with the approval.

The next step will be to obtain the TIE (Tarjeta de Identidad del Extranjero), as well as the taking of fingerprints in any police station. Nor can we sleep in this procedure because we only have 1 month to do it.

If you don’t feel like spending the time required to carry out all these boring procedures… let us do it for you!

Contact us to get your Golden Visa: from beginning to end. You will only have to sign!

What is the duration of this residence permit?

Once the investor has obtained his golden visa, he will have 2 years to reside legally in the Spanish territory.

Once this temporary period has elapsed, the applicant can request a renewal that will allow him to be a legal resident for an additional 5 years.

In order to carry out this procedure, the person in question must prove that he or she continues to own the asset that was the object of the investment, be it the property, the shares or the public debt.

In addition, you must have visited Spain at least once during the year.

Remember that the gold visa is one of the many ways to obtain Spanish nationality. After 10 years residing legally in Spain, the investor will be able to carry out the pertinent procedure.

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