The Spanish Golden Visa

The Golden Visa in Spain

The Spanish Golden Visa is a popular and straight forward option for non-EU citizens, professionals and families alike, for obtaining Spanish residency.

Whether you are moving to Spain for an abundance of blue skies and sunshine and the warm Mediterranean climate or maybe so your children can benefit from the excellent international schools on offer whilst you enjoy the freedom to work from where you choose, the Spanish Golden Visa is a reliable choice.

Not only is this visa is an attractive opportunity for non-European Union nationals looking to invest in Spain and, in turn, gain residency rights. It also offers you the unique advantage of living and working in Spain, while also benefiting from free movement within the Schengen zone.

As an investor seeking capital growth and a secure future for your family, the Spanish Golden Visa programme is an ideal choice.

Launched in 2013, the programme has attracted a wide range of investors from all over the world, primarily focusing on those who are interested in Spanish real estate. To qualify for the Spanish Golden Visa, you need to make a significant investment, such as purchasing a property worth at least €500,000 or investing in Spanish companies, government bonds, or public debt instruments. The application process is relatively straightforward, with the help of expert advisers ensuring your investment meets the necessary criteria.

Understanding Spanish Golden Visa

Definition

The Spanish Golden Visa is a residence permit granted to non-European Union (EU) nationals who invest in real estate, property, shares, or other qualifying assets in Spain. If you’re looking to acquire this visa, you’ll be required to make a significant financial investment in the country. This can be done through the purchase of property worth at least €500,000, an investment in Spanish shares or public debt of at least €1 million, or a contribution of at least €2 million to Spanish government bonds.

Origin

Introduced in 2013, the Spanish Golden Visa programme allows non-EU investors to obtain residency in Spain through their financial investments. The primary aim of this initiative is to attract foreign investment and boost the Spanish economy, particularly in the real estate sector. This programme has been successful in achieving its goals, with thousands of investors taking advantage of the opportunity to invest in Spanish property and obtain residency.

Significance

Obtaining a Spanish Golden Visa offers various benefits to investors and their families, including:

  • Residency in Spain: You and your family will be granted a renewable residence permit, allowing you to live and work in Spain.
  • Freedom of movement: The Spanish Golden Visa grants you visa-free travel within the Schengen Area, providing easier access to 26 European countries.
  • Pathway to permanent residency and citizenship: After five years of continuous residence, you can apply for permanent residency, and after ten years, you become eligible for Spanish citizenship.
  • Investment opportunities: The real estate market in Spain has proven to be an attractive investment for many foreign nationals, offering the potential for capital appreciation and rental income.

By investing in property or shares in Spain, you not only secure a solid financial investment but also gain access to the benefits that come with residency, making the Spanish Golden Visa a worthwhile consideration for non-EU investors.

Eligibility Criteria and Requirements

Financial Requirements

In order to qualify for the Spanish Golden Visa, you must invest a minimum of €500,000 in real estate in Spain. Your investment can be in one or several properties, and the funds must come from a legitimate source. Additionally, you will need to provide proof of financial stability, which means you must demonstrate the ability to support yourself and your family in Spain without relying on public funds.

Personal Requirements

To apply for the Golden Visa, you must meet the following personal requirements:

  • You must possess a valid passport and any required entry visas.
  • You must have a clean criminal record in your home country and any other countries where you have resided for the last five years.
  • You must not have any serious entry ban in Spain or other Schengen countries.
  • You will need to have valid health insurance
  • You must be able to demonstrate proof of sufficient funds to cover your living expenses for the period of your stay in Spain.

NOTE: this is just a brief overview of the Eligibility Criteria and Requirements for the Spanish Golden Visa. It is crucial to consult with a professional and knowledgeable immigration expert to ensure a successful application and for more detailed information on the process.

For How Long Is the Spanish Golden Visa Residence Permit Granted?

The Residence Permit you receive via the Golden Visa is valid for two years. You can then renew it indefinitely every two years as long as you have maintained the investment (in other words, as long as you still own the property you have purchased).

If you actually decide to live in Spain, then after five years of living in Spain with a two-year Residence Permit, you can apply for a Permanent Residence Permit.

Spain Golden Visa and Taxes

If you are not a full-time resident in Spain, then you do not need to pay income tax. You are considered a resident only if you live there for more than half the year (more than 183 days).

However, regardless of your residence status, if you have purchased a property in Spain, you still have to pay the relevant taxes, such as municipal and rental income taxes.

If you are not a full-time resident, you have to pay 24.75% on rental income or any other income obtained in Spain.

NOTE: Ensure you seek advise on your own personal tax situation from a qualified expert!

Golden Visa Pros & Cons:

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  1. Residency Rights: The Golden Visa provides you and your family members with the right to live and work in Spain, offering greater flexibility.
  2. If you apply for the Golden Visa, whilst legally in Spain, you initial residency visa is for THREE years!
  3. Investment Opportunity: Through the required investment in Spanish real estate, stocks, or businesses, you have the potential to benefit from the investment growth.
  4. Schengen Travel: Once you obtain the Golden Visa, you can travel freely within the Schengen Area without the need for additional visas.
  5. Path to Citizenship: After residing in Spain for a certain period under the Golden Visa, you may become eligible to apply for Spanish citizenship.
  6. Flexibility: This visa allows you to choose where you want to spend your time. You are not obliged to be in Spain for more than 183 days and hence do not need to be a Spanish tax resident. The decision is yours.
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  1. High Investment Threshold: The minimum investment required for the Golden Visa can be significant, starting at €500,000, which may be unaffordable for some individuals.
  2. Investment Risks: Investments in real estate, stocks, or businesses come with inherent risks, and there is no guarantee of returns.
  3. Ongoing Monitoring: The Spanish authorities may require periodic reporting and monitoring of your investment to ensure compliance with the Golden Visa program.

Read more about the Spanish Golden Visa...

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The Spain Golden Visa in 2023 continues to provide numerous advantages for affluent investors seeking residency, work opportunities, and potential pathways to permanent residency or Spanish citizenship.

From tax benefits and extended stay options to work permits and streamlined application processes, the Golden Visa offers a gateway to a fulfilling and enriching life in Spain.

Whether you desire a second home or a change in lifestyle, the Spain Golden Visa opens doors to a world of possibilities. But don’t wait too long as we do not know what is around the corner!

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The Spanish Golden Visa remains a popular option for non-EU citizens to gain entry to live in this wonderful country.

We are noticing a recent trend for professionals and families moving from the United States to Malaga to allow their children to benefit from the excellent international schools on offer. Malaga’s Mediterranean climate appears to be attracting a number of Canadian families and couples.

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In our latest video, Javier and I share some tips to help you avoid mistakes unfortunately made by too many

If you are considering investing in Spanish property with a view to obtaining residency in Spain, contact us and we will ensure that your investment and residency applications are a success.

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In today’s video, Alex and Jenny, who moved from Canada to Spain, share their experience of living in Spain, thanks to the Spanish Golden Visa.

Originally from Ottawa, Canada, the couple are now permanent residents in Alhaurin el Grande, Malaga, in southern Spain. The Spanish Golden Visa allows them freedom of movement and they are loving travelling around different parts of Europe.

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