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The Golden Visa program in Spain has become a popular option for non-EU citizens seeking residency rights in Europe. With a minimum investment of €500,000 in Spanish real estate, investors can obtain residency permits for themselves and their family members. This program offers several benefits, including freedom of movement within the Schengen Area, access to healthcare and education, and tax benefits. The process of obtaining a Golden Visa involves submitting an application, undergoing a background check, and applying for a residency permit upon arrival in Spain. Overall, the Golden Visa program has successfully attracted foreign investment to Spain and stimulated the economy.

Benefits of the Spanish Golden Visa

The Spanish Golden Visa program offers several benefits to foreign investors and their families who obtain residency in Spain. Here are some benefits:

  1. Residency rights: The Golden Visa grants residency rights to the investor and their family members, including their spouse and children under 18.
  2. Freedom of movement: With a Golden Visa, investors and their families can travel freely within the Schengen Area.
  3. Access to healthcare and education: Golden Visa holders have access to the Spanish healthcare and education systems, which are highly regarded.
  4. Tax benefits: Golden Visa holders may be eligible for tax benefits, including a reduced tax rate on their worldwide income.
  5. Real estate investment: The Golden Visa requires a minimum investment of €500,000 in Spanish real estate, which can provide a good return on investment and a stable source of rental income.
  6. Path to citizenship: After five years of residency in Spain, Golden Visa holders can apply for Spanish citizenship, which offers EU citizenship and additional benefits.

Overall, the Spanish Golden Visa program is a great option for investors seeking residency in Europe and looking to benefit from the many advantages of living in Spain.

The Golden Visa offers numerous advantages, including the freedom to travel throughout the 26 Schengen countries for up to 90 days in every 180-day period, without the need to apply for additional visas for each trip. In addition, the right to work in Spain is automatically granted to Golden Visa holders upon obtaining their residency permit. This makes the Golden Visa a highly convenient option for those seeking to invest in Spain and enjoy the many benefits of living in Europe.

Spain offers Golden Visas to who?

Several investment options are available to qualify for the Spanish Golden Visa program. The first and most popular option is to invest a minimum of €500,000 in Spanish real estate. The investment can be made by either a natural person or a legal entity, as long as the real estate is acquired after the implementation of the current law that governs this type of procedure. It is also required that the investment is made with the investor’s own funds, although external financing can be used for the remaining amount exceeding €500,000. Another option is to invest €1 million in bank deposits of Spanish Financial Entities or shares of Spanish companies. Additionally, an investor can purchase public debt for a value equal to or higher than €2,000,000. Lastly, starting a general-interest business project in Spain can also qualify for the Golden Visa.

Spanish Golden Visa requirements

  • Age 18 or older
  • Within Spanish territory, there should not be any irregularities
  • Having no criminal record under Spanish law
  • Be in possession of the respective certificate(s) of ownership
  • Pay the processing fees for the visa
  • Arrange for public or private health insurance with an authorized entity in Spain
  • Have enough financial resources to cover personal and family expenses during the residence period in Spain

The process of obtaining a Golden Visa Spain is simple and straightforward, with a dedicated department handling the procedure. Below are the steps and timelines involved:

If the investor is outside of Spain:

  • Submit the required documentation to the Spanish Consulate in the country of residence.
  • The official will evaluate the documents and notify the applicant of the result within 10 days.
  • Upon approval, the applicant will receive a one-year visa, which must be collected within a month from the consulate.
  • After arriving in Spain, the applicant can apply for an initial residence permit for themselves and their family members, valid for two years.

If the investor is already in Spain:

  • The applicant can directly apply for residence authorization without applying for an investor visa.
  • The investment can be made by a natural person or a legal entity domiciled in a territory that is not considered a tax haven by Spanish regulations and fulfills other requirements.
  • The applicant can submit applications or an authorized representative with a recognized digital certificate from the Spanish authorities.
  • It is advisable to seek the assistance of an accredited professional for the electronic government headquarters processing.
  • The applicant may choose to process the application directly with the Unit for Large Companies in Spain, where the fees are less expensive than in the consulates.

According to the Golden Visa regulations, the initial authorization for investor residence is valid for two years, after which the applicant can renew their residence permit every five years, provided they meet the Spanish Golden Visa requirements and maintain the initial investment.

Documents required 

To apply for Spain’s Golden Visa, applicants are required to provide the following documents:

  1. Application Form: The completed application form and payment of the corresponding fee.
  2. Photographs: Two recent colored photographs with a white background, passport or ID size.
  3. Certification of Ownership and Property Registry: This must be issued within 90 days before the visa application has been submitted and will incorporate an electronic verification code for online consultation. A copy of the Deed of Sale must also be provided. A deposit contract and a certificate confirming an unavailable bank deposit from a Spanish bank can, however, be presented in order to obtain a Golden Visa without signing a public sale deed.
  4. Travel documents: A valid passport or travel document recognized by Spain with a minimum validity of one year. Photocopies of all pages of the passport or relevant travel document where the holder’s details, stamps, and visas appear.
  5. At Tejada Solicitors in Marbella you will be assigned a specialist who takes charge of your case and offers you personalized advice.
  6. Certificate of a criminal record: Certificates of criminal records from the country of residence for the past five years, translated into Spanish with legalization.
  7. NIE Number: In order to apply for a visa, applicants (and their family members) must possess an NIE
  8. Economic Proof: Applicants need to show they have enough money to support themselves and any family members for a year in Spain.
  9. Contract with medical society working in Spain: Applicants must have coverage of all risks of their healthcare and any dependents without co-payment. To fulfill this requirement, Tejada Solicitors in Málaga can help applicant’s contract adequate private insurance for this type of procedure.

Taxes and costs you must cover to obtain the Golden Visa

To obtain the Spanish Golden Visa, applicants must invest a minimum of 500,000 euros in property on Spanish territory, which involves additional costs and taxes such as Stamp Duty (Property Transfer) or VAT, Notary Fees, and Land Registry Fees. You can find a complete guide to the costs of the property conveyancing process in Spain through the following link.

In addition to the property-related costs, applicants must also cover the expenses related to the processing and granting of the Golden Visa. These expenses include an application fee, which may vary depending on where the visa is processed or if it is processed in the Large Business Unit. Sworn translations of official documents like the criminal record certificate, apostille, certification from the Property Registry, and private medical insurance are also necessary. Immigration lawyer fees may also apply.

Conclusion

The Spanish Golden Visa program is a residency-by-investment program that grants residency permits to non-EU citizens who invest a minimum of €500,000 in Spanish real estate or meet other investment requirements. The program offers several benefits, including freedom of movement within the Schengen Area, access to healthcare and education, tax benefits, and a path to citizenship after five years of residency in Spain. To qualify for the program, applicants must meet certain requirements, such as being of legal age, not having a criminal record, having sufficient financial resources to cover personal and family expenses during the period of residence in Spain, and having public or private health insurance arranged with an entity authorized to operate in Spain. The process of obtaining a Golden Visa involves submitting an application, undergoing a background check, and applying for a residency permit upon arrival in Spain.