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GOLDEN VISA IN SPAIN

Foreign real estate investors can now take advantage of the law approved by the Spanish government commonly known as "Golden Visa", concerning the granting of residence permits and the citizenship for non-EU citizens when they invest in real estate in Spain.

The golden visa program in Spain is very flexible in terms of the family options. Government fees are low and the process is quick.

 

property golden visa

Investment

Foreign real estate investors can now take advantage of the law approved by the Spanish government commonly known as "Golden Visa", concerning the granting of residence permits and the citizenship for non-EU citizens when they invest in real estate in Spain.

 

The golden visa program in Spain is very flexible in terms of the family options. Government fees are low and the process is quick.

 

Process

The applicant needs to have committed to the investment prior to applying for the visa. An application can be made once a contract for sale has been signed and prior to completion of the sale at the notary. However the funds must be ready for investment in a bank account in Spain.

 

The initial visa is valid for 2 years and can be extended and renewed as a Residency permit every 5 years. If the initial visa is applied for through the consulate or Embassy then the initial period is 1 year, with first renewal of 2 years, and following renewals of 5 years.

 

No minimum stay in Spain is required during the first year (Golden Visa) or during the further periods of 2 and 5 years (Residency Permit). The investor is not required to travel to Spain and the extension can be made by a representative

 

Timing

The Golden Visa applications are processed by the Consulates and granted within 10 days of filing. The Residency Permit applications are processed electronically and granted within a maximum time limit of 20 days from filing.

 

Easy renewal process

The process for renewal of the Residency Permit is quick and straightforward. No presence in Spain is required, allowing tax residency outside of Spain. There is no limit to the amount of times the 5-year residency can be renewed.

Tax Residence Of The Investor

As the investor is not required to stay a minimum time in Spain, his / her tax domicile will not be affected.

Requirements

The applicant must meet the following requirements:

  • Not to have entered or stayed illegally in Spanish territory
  • Not to have been refused entry in any of the 26 Schengen countries
  • Have sufficient economic means to cover personal and family living expenses
  • Be 18 years or over, with no criminal record in Spain or in the countries where the applicant has been resident for the  previous 5 years
  • Have public or private health insurance with an entity authorised to operate in Spain, which will provide full medical coverage for a minimum period of 1 year.
  • Prove ownership of one or more immovable properties or plots of land in Spain with an overall net investment contribution above €500,000
  • Proof of investment must be made through the Registry of Property certificate attesting ownership or, if the ownership title is not registered, via a copy of the public deed and proof of filing the deed in the Registry.
  • Proof of having paid the Visa’s fee
  • Copy of all pages of the passport

 

Benefits

The Golden Visa /Residency Permit allows unrestricted travel within the Schengen Area. The holder of the Golden Visa / Residency Permit has the right to remain in Spain for an unlimited period of time and in the rest of the Schengen Area for 3 months within a period of 6 months, during the period in which the Golden Visa / Residency Permit is valid.

Allows family re-unification , all ascendants and descendants of the investor can obtain a Golden Visa -Residency Permit, regardless of their age,( if they are dependents) thus enabling the entire family to benefit from the scheme.

Free movement within the 26 countries of the Schengen zone

Opportunity to set up a business in a stable European economy

Enjoy the benefits of security and wealth preservation offered by EU countries

Own a home in a sought-after European tourist destination

 

golden visa renewal fees

Legal fees for Golden visa

2.000 € per head of family

500 € per additional family member (spouse or minor children)

1.000 € per additional family member (economic dependents and single children >18 and parents economic dependents)

600 € per positive report of the Minister of Economy (only in case the investment is made via a company)

50% of the legal fees are due on start of application procedure and 50% on granting visa.

 

Lawyer fees for Golden visa:

Lawyer fees will apply for the processing of the golden visa for the applicant and family. Fees are subject to changes and will be confirmed before processing.

 

Legal fees  in renewal of Golden Visa are:

1.000 € per head of family

500 € per additional family member (spouse or minor children)

700 € per additional family member (economic dependents and single children >18 and parents economic dependents)

450 € per positive report of the Minister of Economy (only in case the investment is made via a company)