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Q&A: Spanish Golden Residence Visa

Questions and Answers - Spanish Golden Visa

The Spanish Golden Visa is now available to non EU nationals who fulfil the Spanish government’s requirements. The objective of the law is to stimulate foreign investment in Spanish real estate, public debt, and job creation. It is also intended to stimulate demand for Spanish property.

Here are some Questions and Answers based on enquiries from our clients:

Q.)   Who can qualify for a Golden residence Visa in Spain?

A.) Any non EU national who invests in Spain in accordance with the new law, recently passed by the Spanish government.

Q.)  What are the requirements?

A.)  You will obtain a Visa by fulfilling any of the following conditions:

  1. Purchasing one or more properties to the minimum value of 500.000 Euros.
  2. Investing Two million Euros in Spanish government Bonds.
  3. Investing One million Euros in stocks or shares of Spanish companies, or bank deposits in Spanish banks.
  4. Creation of a Business venture in Spain that creates employment or economic development.

Q.) Can I buy more than one property?

A.) Yes, you can purchase more than one property as long as the minimum threshold is above 500.000 Euros. The purchase can be of a residential, touristic, rural, commercial or industrial nature including rural land, developed land, buildings under construction, or decrepit buildings.

Q.) Can I obtain finance to purchase a property?

A.) Yes, but any finance required must be over and above the initial 500.000 Euros which you must possess.

Q.) Can I purchase in a company name?

A.) Yes, you may purchase in both a private or company name. If the company is registered abroad, it must not be in offshore havens. The process will entail the translation of company documents into Spanish. Also, a Spanish limited company can be constituted for the purpose. We can assist in these matters.

Q.) Can I sell my property?

A.) Yes, but if you sell your property at any time during the first five years, you will loose your Visa. However, you can sell your property and buy another one as long as you maintain the 500.000 Euros threshold.

Q.) Can I rent my property?

A.) Yes. There are no restrictions on property use. Investors can use the property in anyway that is legal according to planning permission, zoning laws, and so on.

Q.) How long can I stay in Spain?

A.) You may stay as long as you wish. There is no obligation to spend a minimum amount of time in Spain, so investors can remain tax resident outside of Spain, whilst benefiting from Spanish residency and the freedom of unlimited travel and stays in the EU. However, if you stay in Spain more than 183 days in any calendar year, you will be obliged to Spanish income tax.

Q.) Can my family come with me?

A.) Yes, the spouse and children under 18, (or older disabled children) may also apply for permits at the same time or after the principal applicant.

Q.) Can I work in Spain?

A.) No. The residential Visa does not allow the applicant a work permit in Spain.

Q.) How long does the Visa last?

A.) The first step for investors will be to apply for an investment Visa that allows them to live in Spain for at least one year. This Visa will be authorised in Diplomatic Missions and Consular Spanish Offices and can be issued for one, two or multiple entries into Spain.

Once an investment has been made, and after the first year, investors can apply for authorisation to live in Spain for two years, renewable for another two years after that (and so on), as long as the investment threshold of €500,000 is maintained.

After five years of continuous residence, investors can apply for permanent residence in Spain.

Q.) Can I use my Spanish Visa to travel through Europe?

A.) Yes. Applicants who qualify and obtain the Visa will be able to travel freely throughout the Schengen zone.They can transit and enjoy free movement in the Schengen area for a maximum period of three months (90 days) per half-year from the date of first entry.

The Schengen area is made of 26 European countries. Some countries are part of the European Union, but do not belong to the Schengen area, such as the United Kingdom and Ireland. Other countries, like Norway and Iceland, are not part of the European Union, but are part of the Schengen area following a cooperation agreement signed with the Schengen States.

Q.) How do I proceed?

A.) The first step is to apply for a 90 day tourist Visa in your own country. This will enable you to visit Spain and look for possible investments.

Once having decided on your investment, an application for a one year Visa can be presented to the Spanish Consular Offices throughout Spain. Proof of ownership of a property, bonds, stocks or shares will have to be presented with your application. Applications will be responded to within 20 working days from the submission of the application. If there is no answer in this period, the application shall be considered as accepted.

Q.) Are there any particular restrictions?

A.) The applicant must fulfil the following conditions:

  • Not to have entered or stayed illegally in Spain, or been refused entry into any Schengen countries.
  • 18 years or older.
  • No criminal record.
  • Not listed as undesirable in Spain.
  • Public or private health insurance valid in Spain.
  • Economic resources to support the applicant and dependents.
  • Authorisation or Visa processing fee.

We can help and assist you to find the property of your choice in Spain and introduce you to lawyers who are experts in handling Visa applications, company formation and document translations. Please contact us for further details.

LPG (Leading Property Group) Spain.

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9 comments on “Q&A: Spanish Golden Residence Visa

  1. Domus

    Absolutely brilliant article, seen lots written about the golden visa in Spain but not much explaining exactly what is involved and there are a few interesting points that I would never have thought of. Great read.

  2. Hammad

    Hi

    Can this visa lead to Spanish citizenship? what are the terms and conditions, please explain.

    Also any estimate of cost involve in getting the visa (except 500k)?

    • It is important to differentiate between residency and citizenship. Once having fulfilled the conditions of residency and obtained your first year’s visa in Spain, this can be extended for a further four years leading up to full residence status after five years (as explained within this article). Residency though does not grant you citizenship.

      To apply for Spanish citizenship and obtain a Spanish passport, you may have to be a resident in Spain for at least ten years. The conditions for approval are more complex and queries should be directed to Spanish Consular officials abroad or in Spain.

      The costs involved in applying for a Spanish Golden visa can be obtained from the official website of the Ministerio del Interior (the Ministry of the Interior) -- in Spanish: http://www.interior.gob.es/tasas-20/extranjeros-231/tramitacion-de-autorizaciones-para-residir-en-espana-246

      You may wish to engage a Spanish lawyer to handle your application, in which case you will have to add their fees to the official costs charged by the government.

      Regards
      LPG Spain.

  3. Douglas dager

    Quisiera obtener un presupuesto de sus honorarios, por tramite de golden visa y asesoria inmobiliaria para adquirir los inmuebles . Soy venezolano e integro una familia de 2 adultos y 2 menores.
    Gracias

    • Hola Douglas
      Te contestaré por correo dentro un par de diás. Un saludo Robert Edwards -- LPG Spain.

  4. Golden Residence Visas in Spain.
    For detailed information with regard to obtaining a Golden residence visa in Spain, don’t hesitate to contact us for details. We provide a full and professional service backed by over 30 years of experience dealing with visa applications in Spain.
    In our legal department, we have Russian speaking staff and are considering the employment of those speaking Chinese to cope with applicants from Chinese speaking territories:
    Contact: http://www.leadingpropertygroupspain.com/en/contacto/

  5. Visados de Oro en España.
    Para obtener información detallada con respecto a la obtención de un visado de oro de residencia en España, no dude en contactar con nosotros para más detalles. Ofrecemos un servicio completo y profesional respaldado por más de 30 años de experiencia en la tramitación de solicitudes de visado en España. En nuestro departamento jurídico, tenemos personal que habla ruso y estamos considerando el empleo de los que hablan chino para hacer frente a los solicitantes de los territorios de habla china.
    Contacto: http://www.leadingpropertygroupspain.com/es/contacto/

  6. Horacio Vásquez

    La afirmación: “La Visa residencial no permite la solicitud de un permiso de trabajo en España.” no se contradice con la cuarta posibilidad de obtener la visa de oro? (Creación de una empresa de negocios en España que genere empleo o desarrollo económico.)

    • El tema es complejo. Hay que consultar con abogados/gestores expertos para explorar todas las opciones disponibles.

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