Property Investment. Golden Visa. Get Spanish property and get residency in Europe

Property Investment. Golden Visa. Get Spanish property and get residency in Europe
Property Investment and Spanish Residency Law

The new law enables non-EU nationals to get qualified Spanish residency in return for investing in Spanish real estate, also known as the “Golden Visa” or “Investor Visa law”.

According to EU rules on visas and the Schengen Implementing Convention Agreement, the entry and residence in Spain of non-EU citizens shall be authorised for economic reasons.
The spouse and children under 18, (or older disabled children) may also apply for permits at the same time or after the principal applicant.

However, if you don’t have time to come to Spain, and you have found a property that you are prepared to buy without visiting, you can organise a power of attorney from your home country (this is not possible from all countries).

One you have bought a property that meets the investment criteria (more than €500,000 on the deeds), you need to apply for a one-year investor visa. Our lawyer can get this for you.

Spain has introduced legislation that awards a residency visa for any international investor spending €500,000 or more on a property or portfolio of properties in Spain.This visa grants residency in Spain, can be renewed until five years until it then becomes permanent at which point citizenship and a Spanish passport can be applied for.

KEY POINTS FOR SPANISH INVESTMENT VISA

  • Minimimum investment of €500,000.
  • Investment can be in several properties.
  • Spanish residency visa granted to immediate family members(spouse and children up to 18 years).
  • No minimum stay requirement to renew visa (ie optional to live in Spain).
  • 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.
  • Application takes a maximum 20 days.
  • Investment must be made before application.
  • Positive acceptance (usually only a criminal record will prevent acceptance).
  • 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.
  • Add tax and stamp duty in Spain to any property purchase. Typically an additional 10%.
  • Investors’ General Requirements.

Applicants pursuing investor visas / permits need to comply with the following general requirements which are specific to Non-Lucrative Residency Permits (art 62):

  • 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; it goes without saying.
  • Pay the relevant application fee.

Temporary residence visa for real state investors:

www.exteriores.gob.es