You could qualify for a Spanish Golden Visa24 04 18
When you invest in a Costa del Sol home, you could be entitled to even more than just the property of your dreams. With a Golden Visa, you can enjoy a number of benefits including traveling in and out of Spain with greater ease. Continue reading to find out more about what you need to know about Spanish Golden Visa.
Just like any other Visa, there are some very specific requirements for a Spanish Golden Visa applicant. This programme was launched in 2013 and has been excellent for several local industries including real estate. Provided you fulfill all of these requirements, you can apply for a visa renewal every two years. After five years, you may gain permanent residency and, after ten years, you can qualify for citizenship.
Some key points regarding the Spanish Golden Visa include:
- Minimum Property Investment of €500,000
- For non-EU citizens
- Full Family Residency
- There is no requirement to reside in Spain
- EU Schengen visa travel
Investing in Spanish property
When you buy a property in Spain, there are a number of factors to consider. Think about your needs, any amenities that interest you, and how you wish to enjoy your new home. Will it be your permanent residence or holiday home? Perhaps you are investing in a property for financial reasons. No matter the reason, if your property value exceeds the minimum, you should definitely ask for more information about the Golden Visa.
The difference between Investor Residency Visas and Residency Permits
Many of the requirements for investor residency visas and residency permits are the same but there are some distinct differences too. Residency Visas allow the investor to reside in Spain for up to one year. Residency permits, on the other hand, allow for an extended stay for up to two years. If the investor wishes to apply for this permit, a particular application needs to be submitted. This permit is renewable every two years provided you still meet the set requirements. This is a path to citizenship should this be your goal.
Both the visas and permits mentioned above require that the investment is maintained in order for the visa or permit to remain valid. You can expect the authorities to conduct random checks from time to time. An investor residency visa can be obtained in a number of ways. You could:
- Invest at least €2,000,000 in Spanish Treasury bonds
- Invest a minimum of €1,000,000 in the shares of a publicly trading Spanish company or non-trading company.
- Deposit a minimum of €1,000,000 in one or more Spanish bank accounts.
- Aquire real estate located within Spanish territory. The property must have a value of at least €500,000 per applicant.
- A significant business investment which fulfills one of the following: (1) Meaningful job creation due to your investment; (2) Scientific or technological impact; (3) Major socioeconomic impact in the location where any activities are to be carried out.
The investment can be made by a physical or legal person. That said, a legal person may not be located in any of the countries listed as a tax haven by the Bank of Spain. Physical persons must hold control of the company’s shares. In other words, the investor needs to be in control (directly or indirectly) of the majority voting rights.
Investor Residency Permit Requirements
- In order to qualify for a residency permit, you need to fulfill these requirements:
- Hold a valid investor’s residency visa or a visa that is not overdue by more than 90 days from the date of expiration.
- Have visited Spain at least once during the validity of the visa (evidence required).
- Provide necessary legal support to uphold that the investments have been held during the obligatory minimum legal period as required by law. Various documents could be required in this case.
- Be in full compliance with all Social Security and Tax obligations.
- Fulfill any and all other legal requirements set out for the permit application as dictated by the law and relevant authorities.
Being properly informed
Just like any visa, your Spanish Golden Visa does not depend on a single requirement. It is also important to note that sometimes regulations and requirements are subject to change. This is why it is essential to conduct substantial research and consult with a legal expert regarding and documents required and procedures that will follow the initial application.
Once you know what to expect from your Golden Visa application, you can start searching for an amazing home in paradise! Don’t take too long, though. With the hottest properties and an enticing visa incentive, foreign investors are snapping up properties along the Costa del Sol. For the best properties in this top luxurious area, call Sunshine Golf Properties at +34 952 494 161 today.