SPAIN - GOLDEN VISA PROGRAM
Spanish Golden Visa – Purchase real estate in Spain totalling at least €500,000.
A desirable location for investors: Spain attracts many visitors – 126 million (2019) with stunning beaches, climate, nature, nightlife, internationally renowned cuisine, diversity and towns steeped in history and culture. If Spain is somewhere you would like to reside, our Spanish Residents by Investment program (Golden Visa) is an efficient and fast way to do so.
Spain’s Golden Visa Program was introduced in 2013 to boost Spain’s economy by enabling non-EU investors to obtain Spanish Residency and be able to work in Spain.
Ideal property investment: former timeshare condos in outstanding Costa del Sol location now available as good quality freehold apartments priced to sell fast. Prices from €163,950. High capital appreciation and high rental yield prospects. Buy multiple units to reach €500,000 golden visa investment level.
Who Can Get a Spanish Golden Visa?
To be eligible for a Spanish Golden Visa, you must make one of the following investments:
- Purchase real estate in Spain worth at least €500,000. The real estate can be one single unit or several, with an overall worth of no less than €500,000.
- Make an investment in the Spanish public debt of at least €2,000,000.
- Buy shares in a company or make a deposit in a Spanish bank of at least €1,000,000.
- Invest in a new business that will offer employment opportunities, contribute to scientific and/or technological innovation and have a relevant socio-economic impact in the area where the business will be undertaken.
In addition to the investment, you must also fulfil the following requirements:
- You must be of legal age (+18 years old).
- You must have no history of criminal records.
- You must not have been refused a Schengen Visa in the past.
- You must have health insurance in Spain.
HOW TO APPLY FOR A SPANISH GOLDEN VISA
If you have made any of the investments listed above, then you can submit a visa application to the nearest Spanish Embassy or Consulate. At the time of application, you must be committed to making the investment, but the investment does not necessarily need to be finalised.
You don’t have to be in Spain to apply for the visa, but you need a pre-visit to see your investment options up close, open a bank account, and meet with lawyers. You can go through this process yourself or with the help of the experienced professionals at Residencyinvest.com Once you have chosen your investment, you can give a local lawyer, perhaps one many of our clients use, a Power of Attorney to submit your Spanish Golden Visa application on your behalf should you not be present.
Application for family members: Your family members have to apply for their own visas to Spain as dependents. They must include documentation that proves family relation, such as birth and marriage certificates.
Family members who can be included on the Spanish Golden Visa
- Your spouse
- Children under the age of 18. If you have any children who are not minors but are nonetheless dependent due to any health or mental conditions, they are also classified for the visa.
- Dependent elderly parents.
Your family members will also receive residence permits and be allowed freedom of movement in the Schengen Zone.
CAN I GET SPAIN CITIZENSHIP BY INVESTMENT?
Yes, Spain’s Investor Visa is a pathway to citizenship and a Spanish/EU passport as long as you live in Spain for no less than 6 months of each year for at least 10 years
Other requirements for obtaining Spanish citizenship, is to demonstrate an understanding of Spanish culture and to achieve a 60% pass in a Spanish language test set by Instituto Cervantes: https://examenes.cervantes.es/es/presentacion/nacionalidad
Documents which prove you have sufficient income to support yourself and your family as you live in Spain and having ties to the country. A Spanish passport will give the holder access to the EU job market and visa-free access to over a hundred countries.
How Long is the Golden Visa for Spain Valid?
The Golden Visa which you receive at the Embassy will be valid for one year. During this year, you have to enter Spain and exchange your visa for a Spain residence permit, which will be valid for two years.
The residence permit can then be renewed indefinitely, without any stay requirements, as long as you maintain your investment. You have to travel to Spain each time you need to renew your residence permit.
If you intend to actually live in Spain, you can apply for permanent residence after five years of continuous residency (defined as being in Spain for at least six months per year).
MINIMUM TOTAL INVESTMENT
MONTHS PROCESSING TIME
YEARS TO EU CITIZENSHIP
VISA-FREE TRAVEL COUNTRIES
BENEFITS / REQUIREMENTS OF THE SPAIN GOLDEN VISA
Spain is part of the European Union, which means Spanish residents can travel visa-free to all Schengen Zone countries for up to three months in a six month period, as can your family members.
Other benefits include:
- You do not have to live in Spain to renew your residence permit.
- You can work and live in Spain legally.
- You can bring your family members with you (spouse, children, and dependent parents)
- You and your family members will have access to public services such as state health care and schooling.
Requirements for Spain Golden Visa (Real Estate)
If you have purchased a property in Spain, you must prove you have acquired ownership of the property through a certificate issued by the Land Registry within the three months prior to the application.
This certificate must include the purchase amount (no less than €500,000).
If the property purchase has not been entered in the Land Registry yet, you can simply submit proof that the documents have been entered for filing along with the proof of payment.
If the purchase of real estate has not been finalised, you can submit the preliminary contract, including a down payment, and a letter from a financial institution in Spain proving the availability of the required funds.
Investor Requirements for Spain Golden Visa
To prove your investment when any Investor applies for a Spain GoldenVisa, the following documents have to be submitted:
- Investment in the Spanish Government Debt: A certificate from the Bank of Spain or another financial institution, stating you are the sole owner of the investment for a period of at least five years.
- Investment in stocks or shares in a Spanish company: A statement of the investment from the Spanish Registrar of Investments of the Ministry of Economy and Competitiveness.
- Investment in quoted shares: A certificate of the financial intermediary stating your investment, registered at the Spanish National Stock Market Commission or at the Bank of Spain.
- Investment in a bank deposit: A certificate from the financial institution naming you as the sole owner of the bank deposit.
Is It Possible to Get a Loan to Apply for Spain Golden Visa?
No, you cannot apply for a Golden Visa for Spain if you acquire the money via a loan. You must make the initial investment in full, though your own funds and you must be the sole owner of the investment.
However, if you purchase a property worth more than €500,000, then you can use loans and financing to pay for the amount exceeding €500,000.
Is It Possible to Make a Joint Investment to Get a Spain Investment Visa?
Even if you make a joint investment or purchase, each individual investment has to meet the minimum requirements. As such, if you decide to purchase a property, each person involved has to pay €500,000 to be eligible for the Golden Visa. It is not possible to split the investment into smaller amounts, as you would not be eligible for the Golden Visa residency.
VISA FREE TRAVEL TO 26 SHENGEN COUNTRIES
Once you receive the Spain Golden Residence Permit, you will be able to travel visa free to all 26 Schengen Zone Countries. If you later apply for Spain Citizenship (after 5 years), with visa-free access to 186 countries.