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Golden Visa Spain

Golden Visa Spain

Have you ever heard of a ‘Golden Visa’? Are you looking to invest and possibly relocate to Spain? Do you worry that words such as Visa sound complicated and time consuming? If you have answered yes to these three questions, then the information below will be of importance and interest to you.

In 2013 the Spanish Government launched the Golden Visa or Property Visa scheme to encourage investment into the economy following a few turbulent years after the 2008 recession.

 

This scheme enables investors to gain residency in Spain and the freedom to work, live and travel throughout the EU Schengen areas. After 5 years , it is possible to obtain permanent residency in Spain and following 10 years of residency , it is possible to qualify for Spanish Citizenship.

 

The Golden Visa scheme is an attractive option for Non-Eu Citizens who wish to widen their horizons and obtain access to the EU. The benefits are not only for the investor, but for immediate family also. This is certainly an appealing option to many families who wish to relocate to Spain and start a brand new life in the sun.

 

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).

 

The scheme has attracted investors from America, China, Russia, Iran, Venezuela and Lebanon and will no doubt become even more popular with the onset of BREXIT. The speed and simplicity of the scheme is impressive, with many applications being turned around in as little as 10-20 days!

 

In order to qualify for a Golden Visa, one must meet some simple requirements, which are as follows:- 



  • Invest at least 500,000 euros in Real Estate. (This can be multiple properties, single property, residential or commercial premises).
  • Have to be over 18 years of age
  • Having sufficient health insurance by an insurance company that operates in Spain
  • Must have the financial means to cover family/personal expenses
  • Must have never been in Spain illegally
  • Clean criminal record in Spain and in country of residence over the last 5 years.
  • Owner of the property must travel to Spain at least once per 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.



Any other information?

 

If you apply via a Spanish Embassy in your country of residence then you will have a 1 year Visa at first.  If you are applying from within Spain then you will be issued a residence permit for a 2 year period. Residence permits can be renewed every 2 years providing that you have not sold your investment purchase. 

 

In order to be considered as a Spanish resident you must spend a minimum of 6 months in the country every year. If you meet this criteria, after 5 years you can apply for permanent residency and after 10 years you can apply for Spanish citizenship.