The Spanish government passed a law in 2013 to encourage foreigners to invest in Spain for residential purposes. This visa, called "Golden Visa", is open to anyone who invests more than € 500,000 in real estate in Spain. It gives you the right to reside, work and travel within the European Schengen area in Spain.
What are the requirements to get a GOLDEN VISA through a real estate investment?
- The investment must be made in full (without financing for the first € 500,000.00)
- Can include several properties and can be rented
- Investors buy a property and only then apply for a residence permit.
- The visa enables you to work in Spain
- Benefit from Spanish residence and the freedom to travel to other Schengen countries (90 days out of 180)
- During this time, properties can be bought and sold as long as the investment is preserved.
- There is no entitlement to public health care, the holder must provide evidence of private health insurance
- Have no criminal record
- There is no obligation to spend a minimum of time in Spain to maintain and renew the visa
The period of validity of the visa is:
- 365 days if the purchase has already been formalized.
- 6 months if the purchase has not yet been formalized but a preliminary contract with a guarantee of its fulfillment has been formalized by a deposit or otherwise in a public deed
The supporting documentation is:
A) When the purchase has been formalized
- Certification with continuous indication of the domain and fees from the real estate register that correspond to the property or properties.
- If the acquisition of the property is in the entry in the land register at the time of the visa application, it is sufficient to present the aforementioned certificate in which the entry is valid for the submission of the purchase document. This also includes proof of payment of the relevant taxes.
- The applicant must prove that he has a fee-free and encumbered investment in a property in the amount of 500,000 euros.
- You can apply for permanent residence after five years and Spanish citizenship after 10 years if you actually lived in Spain during this period (after obtaining permanent residence, it is no longer necessary to keep the investment amount)
B) If the purchase has not yet been formalized
- Pre-guarantee contract together with a certificate from a financial institution based in Spain confirming that the applicant has an unavailable bank deposit in the amount necessary to acquire the property or properties indicated in it in order to fulfill the promised contract , including fees and taxes.
-> The spouse accompanying the main applicant or a close person with a similar affective relationship must submit an independent application for a visa for the family stay of an entrepreneur and the notarized marriage certificate translated with the "Hague Apostille".
-> The children accompanying the main applicant must submit a separate application for a visa for the family stay of an entrepreneur and the certified birth certificate with the "Hague Apostille".
For further information please contact us, our I-VEO real estate consultants will be happy to assist you.
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