Golden Visa Law (Law 14/2013) allows non-EU investors to apply for Spanish residency. Its people and culture, the joy of life, its unrivalled climate, prices bottoming out… all of them are some of the reasons why Spanish real estate has become an attractive choice for investment, whether for sand-sea lovers or a professional investors. If you are a non-EU citizen and you are considering investing in Spanish real estate, the following information is doubtlessly of your interest. This new law allows you to reside in Spain with no requirement for minimum stays. The only condition is that you had visited Spain at least once in the year to renew the Visa. Read on to learn more about the requirements and conditions of the so-called “Spanish Golden Visa”.
How much do I need to invest in order to get this visa?
In order to get this visa in return for an investment in real estate, you need to spend a minimum of €500,000 (tax-free) on a property purchase. You can buy one real estate property or more than one. The €500,000 must be mortgage-free. Above that half million euros there is no limit to debt financing. There are also other assumptions related to different sorts of investments. Click here for further information.
What legal requirements do I need to meet?
- Acquisition of the real estate property/ies and proof of the investment, through a Registry of Property certificate or copy of the acquisition public deed, of at least €500,000 per applicant.
- Not to have entered or stayed illegally in Spanish territory.
- Not to have been refused entry in any of the Schengen countries.
- Non-EU national
- 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.
- Have public or private health insurance authorized to operate in Spain.Have sufficient financial means to support both himself and his family whilst in Spain.
How long is the visa valid? How long does it take to be processed?
Once the investor residency visa have been issued, the investor will be entitled to reside in Spain for a one-year period. If the investment is maintained, the visa will be renewable for another 2 years after that. The maximum total duration of residence permits is 5 years.
Visa applications are processed within approximately 20 working days.
What you get:
- Your spouse and children up to 18 years can be included.
- You have access to move within the Schengen visa area of Europe for a maximum period of 3 months per half-year.
- You can reside in Spain for up to 5 years, as long as the investment is maintained.
What you don’t get:
This law allows to apply for Spanish residency but not for a work permit. You can apply for the work permit once the residency has been obtained in order to pursue your profession or to work in Spain,
If you are interested in investing in Spain and applying for the Golden Visa, Sonneil will provide assistance with Golden Visa processing and will help you in finding the best investment. If you need further information please contact us! We will be pleased to help 🙂