As many other European countries did, Spain also introduced its Golden Visa program which aims to attract foreign investors who wish to stay in Spain for an extended period. It is an authorisation granted by the Spanish government to non-EU citizen, allowing applicants to live, work and study in Spain and offering a pathway to residency.
The visa is available to foreigners who make a significant investment in Spain, such as buy real estate, invest in a company, or create employment opportunities. You can apply for a Golden Visa for Spain if you make one of the following investments:
To initiate the application process, it is advisable to start after fulfilling the required investment amount. While commitment to the investment is essential, it does not necessarily need to be finalized at this stage. It is important to note that the earliest permissible application period is three months prior to the intended trip to Spain.
SPAIN RESIDENCY THROUGH REAL ESTATE
The most common type of investment route to Spanish residency is through buying property worth at least €500,000. This can be either a single unity or a combination of multiple units that add up to the required half-million threshold.
To fulfil the requirement, it is necessary to provide evidence of property ownership by obtaining a certificate from the Spanish Land Registry. This certificate should explicitly state the purchase amount of the property/properties.
What does the Spanish Golden Visa give me?
There are numerous benefits you will have once obtaining the Golden Visa, firstly being that you will be granted temporary residency in Spain, allowing you to live, work and study in the country. You will also have the freedom to travel within the Schengen area, which includes 26 European countries, without the need for additional visas or permits. The Golden Visa benefits will also extend to your family, granting residency to your immediate family members, including spouses and dependent children, allowing them to join the main applicant in Spain.
How long does the Golden Visa last?
This visa allows you to reside in Spain for at least one year. After this time, you can apply for a Residence Authorization that has an initial stay of 2 years and once holding temporary residency for five years, you become eligible to apply for permanent residency. After ten years of permanent residency, you can apply for Spanish citizenship.
What are the requirements to apply for the Golden Visa?
To obtain the Golden Visa you must pass the necessary requirements which are to carry out a minimum net investment of 500,000 Euros, not be in an irregular situation in Spanish territory and be over 18years old. You must also not have any criminal record against your name in Spain, or in the countries where you have resided during the last five years. You must have a public or private health insurance with an insurance company authorized in Spain and you will need sufficient economic resources to keep yourself during the period of residence in Spain. And finally, you will need to pay the corresponding fee for the processing of the visa.
How can we help?
At Tribeca Living, we can help you in the search of your investment property and ensure you will qualify for the Golden Visa program by selecting the right property for you, whether you are making an investment or choosing to move to the area. Please contact us for a free consultation on the process of obtaining a golden visa in Spain through real estate investment.
