Golden Visa Spain

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Golden Visa Spain

What is the Golden Visa Spain

The Spanish Golden Visa programme was established in September 2013, and it aims to encourage foreign investors outside the EU to invest in the country’s economic growth.

Under the programme, investors and their families must follow certain requirements and spend at least €500,000 in real estate, business, government bonds or bank deposits.

The primary advantage of the Spanish Golden Visa scheme is that the government law does not demand a minimum period of residence and the application process is simple and straightforward. The initial residency card is issued for one year (or two years if you visit Spain), which can be extended after a five year period, and then extended for another five years. You may apply for permanent citizenship after you have lived in the country for a minimum of five years.

Whilst it is not mandatory to live in Spain to obtain and renew the residence permit, the path to citizenship does require the applicant and family members to live in Spain for at least 6 months per year, during ten consecutive years. Applicants must also go to Spain twice a year, but can’t leave more than 6 months between visits. This allows investors to apply for Spanish citizenship.

How to obtain EU Residency?

If you or your family decide to live in Spain, you will be eligible for permanent residency after a period of five years. Nonetheless, you must prove that you did not spend more than a total of eleven months outside of Spain within the past five years.

In most cases, the Spanish Golden Visa is granted to anyone who owns real estate equal or superior to €500,000. The property can be rented for returns. Any number of properties can also combine to make up the €500,000 minimum investment.

In addition to the investment, you must also comply with the following requirements:

  • Be 18 years old or older;
  • Have no history of criminal records;
  • Not have been refused a visa in the past;
  • Have medical insurance and an official health certificate in Spain;
  • Have enough funds to reside in Spain.

Who may apply to the Golden Visa Spain?

Non-EU, non-EEA or non-Swiss applicants who make a qualifying investment in Spain are eligible for a Golden Visa and residency in Spain, apace with their dependent family members.

Being granted citizenship and passport

Obtaining the Spanish passport allows visa-free travel to 187 countries and in turn, enables the applicant's right to study, work and live in any EU-member state.

After five years of living in Spain, investors can apply for permanent residency. Citizenship in Spain may be gained after ten years, but in order to apply, applicants must have lived for at least six months a year over that time.

Once applicants have their permanent residence or citizenship, they are able to dissolve the investment as golden visa renewals are no further required.

What family numbers can I include in my Golden Visa application?

At the same time as your own application for the Golden Visa Spain, your family members should either be:

  • Your spouse;
  • Your children under the age of 18;
  • Your dependent family members (you must prove that they are dependent or have a health condition that makes them unable to be independent).

What are the advantages of the Golden Visa Spain?

Similarly to the Portuguese Golden Visa programme, the Spanish Golden Visa scheme has proved to be especially popular within applicants from China, Venezuela, Ecuador, Russia, Brazil and India. What's behind the programme’s success?

  • Processing time is quick: it is possible to be granted the residence permit within 60 days from the moment the Golden Visa application is submitted
  • Travel visa-free: since Spain is an EU member, when obtaining the golden visa, you can travel visa-free to 26 countries as part of the Schengen zone
  • EU rights: the Spanish residency permit enables you to live, work and study in Spain
  • Family residency plans: your spouse and dependants under 18 are also guaranteed residency permits
  • Easy renewal: the residence permit can be easily renewed and you only have to visit Spain once a year in order to keep the permit.

Advantages of the Golden Visa

Get a Spanish passport

Live, Work and Study in Spain

Travel freely in the Schengen Area

Low physical presence required

Highly popular scheme in Europe

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The Golden Visa Process

1

Requirements

Upon acquiring a property equal to or greater than €500,000, you will automatically obtain a multiple-entry Spanish Golden Visa, which will be valid for one year.

During that year, the applicant must travel to Spain in order to apply for the two-year residence permit, provided that the investment is still in place. 

Although you do not need to live in Spain in order to keep your residence permit, you must travel to Spain each time to renew your residence permit and to also protect your investment.

If you’re not able to travel to Spain, you can request the After Sales service that is aimed to be your eyes on the field whenever you are away. After Sales operates as a local assistant taking care of your investment, to both increase your annual yield and protect your investment.

2

Who is Eligible

Who may apply to the Golden Visa Spain?

Non-EU, non-EEA or non-Swiss applicants who make a qualifying investment in Spain are eligible for a Golden Visa and residency in Spain, apace with their dependent family members.

What family numbers can I include in my Golden Visa application?

At the same time as your own application for the Golden Visa Spain, your family members should either be:

  • Your spouse;
  • Your children under the age of 18;
  • Your dependent family members (you must prove that they are dependent or have a health condition that makes them unable to be independent).

3

Documentation

Golden Visa Spain applicants should submit the following documents both for the initial application and for each renewal.

General requirements:

  • Golden Visa Spain application form
  • Original passport, valid for at least one year, with two blank pages
  • Two passport-sized photographs - these should follow picture guidelines
  • Medical insurance: public health insurance and privately contracted with a Spanish company
  • Medical certificate (original and photocopy, original translation and photocopy of translation if required): it must be issued no more than 90 days prior to the appointment date
  • Certified copy of the criminal record certificate for the past five years, from the country of origin. The certificate must have been issued no more than 90 days prior to the submission of the application and must be valid for a period of three months after the date of issue.

Financial documents:

  • The applicant must show for the next two years an amount of €2.130 monthly for oneself, plus an extra €532 for each dependent family member;
  • The original and photocopy of savings account/current bank account statements (up to at least 12 months) /bank deposits/ Your name as the account owner must be indicated in each document.

Golden Visa Spain for applicant’s dependant family members documents:

  • Marriage certificate, in case one of the family members is your spouse. If they're from the UAE, the certificate must be legalised by the Spanish Consulate in the country of issuance. It should also be legally translated into Spanish;
  • Birth certificate, in case one of your family members is your child.

Real Estate purchase documents:

  • The real estate must have been purchased a maximum of 90 days prior to the submission of the visa application;
  • A Property Registry proof or notarised deeds and evidence that the deeds have been submitted to the Property Registry.

Note: all the documents must be translated in Spanish by a certified translator and apostilled.

Opening a bank account and the NIE Number

After filing the Golden Visa application, non-EU residents usually obtain their NIE application along with their Spanish residence permit.

NIE (Número de Identificación de Extranjero) is the Foreigner's Identification Number, or the tax identification number. The number is mainly used for tax payment, official purchases, and other legal or official activities. It is used in all financial transactions that involve the Spanish tax office.

4

Costs

Legal costs:

  • €8,000 for a family of four for the initial application
  • In addition a government processing fee of €70 per applicant is required

Golden Visa Spain Tax Considerations

  • Investors will only be taxed on their worldwide income if they are a resident in Spain for over 183 days in any year
  • For non-resident individuals, tax is charged at 24.75% on income derived in the country, like rental income. This can be reduced with expenses
  • Capital Gains Tax (CGT) applies to any profit made from selling real estate
  • CGT starts at 24%, increasing to 27% for gains exceeding €50,000. Allowances and deductions can be made
  • Annual property taxes (approximately €200 to €400) are owed to the local authority.

Could not have asked for a better team. Very happy, satisfied and glad we've done business together.

Client from Thailand

David comes across as a very knowledgeable and very understanding with clients needs. His professionalism is well demonstrated in the way he tailored the options for us based on our requirements. Very happy!

Investor from United Arab Emirates

Very helpful and friendly. A hugely knowledgeable specialist in the field.

Investor Hong Kong, China

Very knowledgeable and professional, able to provide clear advice that meets my need such that I can make decision quickly. Efficient and energetic team.

Investor from Hong Kong

Thank you. Lovely experience with all of the staff. George was very helpful, knowledgeable and had a good grasp of the financials. Will recommend Spanish Homes to friends. Also excellent experience with the After Sales - very helpful.

Investor

Ryan is fantastic. Very helpful, nice and professional. He provides swift responses to me whenever I raise him a question.

Client from Hong Kong

The Golden Visa Timeline of Application

Months 1-2

PREPARATION PERIOD

  • Applicants pick the best investment option suited to their needs
  • Prepar
Year 2

APPLICATION RENEWAL

  • Before the two-year residency permit finishes, the applicant must travel to Spain and renew the application
Year 5

PERMANENT RESIDENCY

  • Applicant becomes a permanent resident in year 5
Year 10

APPLY FOR CITIZENSHIP

  • The citizenship application may be submitted after ten years of permanent residency, and receive a Spanish passport

Enquire today about The Golden Visa

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Calculate the Cost

Want to know how much Spanish residency permit by investment programme is going to cost? Simply fill in the details according to your requirements to receive a more accurate quote. Once you have submitted your information, we will be in touch to discuss your needs further.

Please note that Spanish Homes will use the above details to contact you only. By submitting this form, you confirm that you agree to our website terms of use, our privacy policy and consent to cookies being stored on your computer.

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