Spanish Golden Visa

The Spanish Government has finally approved the long-awaited Investor’s Residence Law (poppularly dubbed as “Golden Visa” law).

Spain enacted on the 27th of September 2013 the Entrepreneur’s Law. It introduces, for the first time, residency visas and permits for non-EU investors.This new law allows non-EU investors to qualify for the highly coveted so-called Golden Visas. To summarise, it enables to attain qualified residency permits in return for investing in Spanish real estate, leading to permanent residency in Spain if certain conditions are fulfilled.

Applicants pursuing investor visas / permits need to comply with the following General Requirements:

- Being Non-EU national (art 61).
- The investor applicant must be of legal age (18-years-old or over).
- The investor must not hold a criminal record whether in Spain or in the previous five years where he has resided.
- Not be already in Spain irregularly.
- Have access to medical insurance whether private or public.
- Have sufficient financial means to support both himself and his family whilst in Spain. This should definitely not be an issue for those who have the socioeconomic profile to qualify for a - Golden visa in the first place.
- Pay the fee for handling the application for the authorization and/or visa.


Why invest in Spain?
Spain is considered one of the most important economies in Europe, you will find almost perfect infrastructure for business and living. Like other countries in the south of Europe, Spain suffered the economic crisis, which reduced house prices between 30 and 50%. A perfect spot to invest and gain momentum when the economy starts up again (with first signs already visible).
Spain’s economy offers unique investing opportunities for those savvy investors with the aim to profit from today’s irrational rock-bottom prices. In due course, in the real economy, a resurgence of the real estate market will follow over the next years fuelled by foreign capital profiting from Spain’s (still) ridiculously low real estate prices.

Golden Visa Procedure

• The minimum investment is 500.000 € in cash, per application. This application covers the main applicant and his/her family. The spouse and children under 18, (or older disabled children)
• Investment can be in several properties.
• No minimum stay requirement to renew visa (ie optional to live in Spain or rent the house and make a profit)
• Renewable for first five years.
• No minimum stay means no necessity to be tax resident.
• Permanent residency can be applied for after five years.
• Property investment can be sold once permanent residency obtained.
• Visa allows unlimited travel throughout EU Schengen visa zone.
• Investment must be made before application.
• Citizenship in Spain can be granted after five further years permanent residency.
• With Spanish citizenship comes automatic EU citizenship.
• At that point (10 years) family can live, work and study anywhere within Europe.

Steps

• Come to Spain with a tourist Visa. We can provide a letter for the Spanish Embassy
• Apply for a Spanish Id Number (NIE) at your home Spanish consulate or at Spain.
• Choose a property from our stock.
• Open a bank account in Spain.
• We can hold Power of Attorney to finalise the purchase.
• Purchase the property.
• No later than 60 days after the purchase, file at your local consulate application for Investor’s Visa type D (Golden Visa).
• In Spain, once you have your Golden Visa, you can apply for an Investor Residence permit.