Spain Golden Visa Law | Spain Permanent Residence Permit
The Golden Visa allows non EU citizens to be granted a visa with no minimum stay requirement
The minimum investment must is € 500,000.
On top of the amount of investment you need to add 11 – 12%, which goes to the purchase cost, including tax, stamp duty, VAT, notary and lawyer.
Investments may be spread over several properties for a total purchase price of at least € 500,000.
You invest via a foreign company if you can prove that you own the majority of this company. There is a certain flexibility to borrow part of the money you need from your home country or from a country outside Spain.
Spanish residence visas may be issued to the immediate family, including spouse and children up to 18 years. The Act also includes your children over 18 years old who, due to health issues, are not objectively capable of looking after themselves..
There is no requirement for minimum stays ordering to renew the visa. This means
that it is optional to stay in Spain.
- The Spanish visa does not need to be renewed within five years.
- As there is no law on minimum stay is not necessary to be tax resident.
- Permanent residence can be granted after five years if you have followed the rules.
- Your property investment can be sold after five years when you have achieved permanent residency.
- The visa allows access to unlimited travel throughout the EU Schengen visa countries.
- The entire application procedure for investment visa applicants will not take more than twenty days.
- Investments must be documented before applying for Spanish investment visa.
- Refusal of Spanish investment visa will usually only be justified by an unclean criminal record.
- Spanish citizenship will be given after an additional five years of permanent residency.
- The applicant must be able to prove that having travelled to Spain at least once in the first two years, and once more in the three subsequent years.
- While a Spanish citizen you automatically get an European citizenship.
- After this time (2 x 5 years), the family can live, work or study anywhere in Europe within the EU.
A recommended lawyer will take care of the application for residence, and the full Golden Visa program, residence for the family, etc.
THE APPLICANT MUST MEET THE FOLLOWING REQUIREMENTS:
- Not to have entered or stayed illegally in Spanish territory.
- Have to be 18 years or over.
- Not to have been refused entry in any of the Schengen countries.
- Have public or private health insurance authorized to operate in Spain.
- Have sufficient economic means to cover personal and family living expenses.
- Proof of the investment must be made through a Registry of Property certificate attesting ownership. Or, if the ownership title is not yet registered, via a copy of the acquisition public deed and proof of filing the deed in the Registry.
Investors must use at least €500,000 of their own funds, which must come from transparent sources that comply with existing legislation on money laundering and so on. Above that threshold there is no limit to debt financing, for instance with a mortgage in Spain.
If you're looking to move to Spain form a non EU country ask the experts about the Spanish golden visa.