Golden Visa Spain

Golden Visa Spain

Golden Visa SpainThe Golden visa Spain programme was launched in 2013.  It requires an investment of €500,000 in real estate which will gain you and your family residency in Spain meaning your children are able to go to school or university, with the same privileges as a Spanish national.

If you are eligible for the Golden Visa Spain there is no obligation to stay in Spain, so you can invest and manage your property from your home country.

The Golden Visa in Spain allows you unlimited travel around the EU Schengen areas, meaning you can explore Europe without having to apply for a different Visa every time

The Golden visa can be renewed every two years. After five years it is possible to gain permanent residency and after ten years citizenship.

This guide is intended to provide answers to these most common questions regarding the Golden Visa in Spain.

  1. What is the Golden Visa Spain and What are the Requirements to Obtain it?

The Spanish Golden Visa or the Investor’s Visa is a residency permit that gives the non-European holder the right to stay and work in Spain. The basic requirement is that the interested applicant makes one of the following investments:

500 000 euros in real estate

1-million-euro bank deposit in a Spanish bank

1-million-euro investment in a Spanish company

2-million-euro investment in Spanish bonds

This article concentrates on the real estate investment-related Golden Visa. If you are interested in some other type of investment, please do not hesitate to contact our team for more information.

  1. How Much will the Golden Visa Cost me?

The minimum investment requirements are net investment amounts. In other words, in addition to the minimum euro amounts, you will need to pay transactional costs associated with the acquisition or investment.

In the case of a real estate investment, these costs consist of the following:

Property transfer tax (“ITP”): 6% – 11%, depending on the autonomous community.

Stamp duty (“AJD”): 0% – 2.5%, depending on the type of property and the autonomous community.

Notaries, Registries and Banking fees, Legal fees & miscellaneous costs: In total, approximately 2-3% of the purchase price.

In all cases, a total budget of 600,000 euros/ family is enough to get the Investor’s Visa anywhere in Spain.

  1. What is the Difference Between the Spanish Golden Visa and Other Spanish Residency Visas?

The Golden Visa differs radically from traditional Spanish residency permits in several aspects:

The renewal of a Golden Visa does not require a minimum annual stay in Spain.

The Golden Visa has an easier and faster application procedure.

The Golden Visa includes a working permit.

The Golden Visa allows the investor to bring along his or her immediate family from day 1.

  1. For How Long Can I Stay in Spain on my Golden Visa, and Can it Be Extended Upon Expiry?

The initial investor’s residency permit is valid for two years and can be extended upon expiry for periods of five years, as long as you maintain the minimum level of investment.

  1. Is There a Limit to the Number of Times that I can Extend the Spanish Golden Visa?

No, there is no limit to the number of times that the Golden Visa of Spain can be extended, but it is necessary to maintain the minimum investment at all times. A holder of a Spanish Golden Visa or Investor’s Visa in Spain, however, is allowed to switch between types of investments, for example, from one property to another or from an investment in real estate to the holding of the minimum amount in a bank deposit.

  1. Can the Golden Visa be used to Become a Long-Term Resident or a Citizen?

Yes, if you live in Spain permanently with your Investor’s Visa, your status can become a long-term resident after five years. The main effect is that you do not have to maintain the investment to keep your resident status. If you live in Spain permanently, you can obtain Spanish citizenship after 10 years (or if you are from a Latin American country or Philippines, after 2 years).

The option to apply for citizenship and/or a long- term residency permit applies only to investors who reside in Spain. The investors who come to Spain only occasionally are not eligible.

  1. Does the Spanish Golden Visa make it Easier to Visit Other European Countries?

Yes, the Investors’ Visa of Spain works as a tourist visa for the rest of the countries that belong to the Schengen area. This means that the holder of the Spanish Investor’s Visa has the right to remain in Spain for an unlimited period, plus in the rest of the Schengen area for 90 days within each period of 180 days.

For more information, please call:
📲 UK Office – 01924 675 039
📲 Spanish Office – +34 951 24 71 97
or WhatsApp 0034654091051
or email info@sarahwaddingtonproperty.com

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