GOLDEN VISA »
Spanish residence permit for Non-EU citizens
The Spanish Golden Visa allows high-net-worth citizens from non-EU countries and their dependent family members to obtain a residency permit in Spain. The added advantage is that the permit allows travel within the Schengen area (which includes most of the EU, excluding the UK and Ireland, as well as non-EU countries such as Iceland, Norway and Switzerland). In the long term and subject to Spain´s naturalisation laws, the residency permit may even result in securing Spanish & EU citizenship.
The most relevant ground for obtaining the Golden Visa is via the purchase of a property with a price of at least €500,000. We have considerable experience in finding properties and structuring transactions in order to comply with the administrative requirements. We have advised investors from China, India, Russia, Brazil, Russia, Middle East and many African countries.
As part of our dedicated Golden Visa service, we work in collaboration with top law firms, accountants, filing agents and immigration specialists to ensure that our clients achieve their personal and investment goals, without encountering any surprises.
Our team speaks all major European Languages (English, Spanish, French, Italian, Portuguese and German). We also employ translators and interpreters for Russian, Arabic, Hindi and Chinese (Mandarin and Cantonese).
Details about the specific rules and our services set out our guide below
Dedicated Golden Visa service:
- We provide a full service before our clients arrive in Spain. This includes procuring a wide array of properties that match our client´s investment and personal criteria and arranging viewings after listening to our client´s preferences well in advance.
- When our clients arrive in Spain, our dedicated service includes airport pick-up and transfers to their accommodation.
- Our clients benefit from a dedicated property consultant that will work exclusively with them during their stay, in order to show them the relevant properties and investment areas.
- We work in collaboration with dedicated lawyers, accountants and immigration specialists that ensure that our clients have full assistance and guidance throughout the purchase process and thereafter.
- The minimum purchase price for a property is €500,000. This figure excludes taxes, completion costs and financing. In the event that the purchaser secures a mortgage, the loan amount is disregarded, so the minimum capital contribution should be at least equal to this figure.
- The purchase can be made via foreign or Spanish company, subject to the applicant owning the majority of the shares.
- Spanish residence visas may be issued to the immediate family, including spouse and children up to 18 years of age (or dependent children above 18 years due to medical or other reasons).
- Applicants must first secure a one-year permit, to be followed by two-year renewable permits (see details below).
- Permanent residence can be granted after five years, which may ultimately result in Spanish/EU citizenship thereafter (see details below).
- The property subject of the investment could be sold at any time, or after five years when the applicant has secured permanent residency.
- The visa allows access to unlimited travel throughout the EU Schengen visa countries (all of the EU and non-EU countries such as Iceland, Switzerland and Norway, with the only exception being Ireland and UK).
- The entire procedure for the initial permit will not take more than twenty days. Investments must be documented before applying for a Spanish investment visa.
- Refusal of Spanish investment visa will usually only be justified by an unclean criminal record.
Specific requirements for applicants:
- Not to have entered or stayed illegally in Spanish territory.
- Age of 18 years or over.
- Not to have been refused entry in any Schengen country.
- Have public or private health insurance authorized to operate in Spain (this can be arranged by us).
- Have sufficient economic means to cover personal and family living expenses (this will be arranged by the lawyers).
- To prove the investment 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 (this will be arranged by the lawyers).
Residency in Spain is granted under the new investor visa for investors spending a minimum of 500,000 Euros on a property purchase. Residency means the right to live in Spain and travel freely to Spain and within the Schengen visa area of Europe.
Residency in Spain under the golden investor visa program allows a real estate investor and his or her immediate family to live in Spain. The legislation has no minimum period of residence. The investor’s family can ultimately live in Spain permanently, with access to international schools and local services.
1) First steps
First of all, if needed, investors should apply for an ordinary 90-day visa to visit Spain. We can commence to coordinate matters whilst you are abroad by selecting a list of suitable properties and coordinating visits to developers and other professionals.
Once in Spain, we can pick you up at the airport show you the properties and investment areas. We can also recommend trusted solicitors, banks, accountants and other professionals to ensure that the process starts with the right foot forward.
It is advisable to sign a power of attorney (poder) with a lawyer and open a bank account whilst you are in Spain. This power may be wide or narrow, but should ideally cover the whole purchase process and related bureaucratic applications. However, if you do not have time to come to Spain or if you have already found the relevant investment, our recommended lawyers could arrange the power of attorney from your home country. Once a power of attorney is in place, your lawyer will be able to buy the property on your behalf and sort out all the paperwork, so there should not be any urgency in having to come back to Spain in the short term.
2) One-year investor residency permit
Once the purchase contact has been signed for a property that meets the investment criteria, you need to apply for a one-year investor residency permit, which allows you to spend a year in Spain and travel freely in the Schengen area (for periods of 90 days). This permit is authorised in Diplomatic Missions and Consular Spanish Offices abroad. However, our recommended lawyers and professionals could arrange this.
Once you have obtained this initial one-year permit, you are not obliged to spend a minimum amount of time in Spain during the year. However, to get the extended two-year residency permit at the end of the first year, you do have to visit Spain at least once in the year. Therefore, it is best to apply for the one-year investor visa when you are sure that you will be coming to Spain in the next 12 months.
The permit applications for the initial one-year permit are relatively straightforward. However, it is recommended to have the right advisors from day one to ensure that there will not be issues or surprises further down the line.
3) Renewable two-year residency permit (from the first year onwards)
After securing the initial one-year residency permit, investors can apply for the two year renewable residency permit. In order to renew the permit, different criteria have to be met, such as the need to maintain the minimum investment threshold of €500,000, proof of visiting Spain, etc. However, with the assistance of the right professionals this should not be an issue.
There is no limit to the amount of times this two-year residency can be renewed. In fact, many applicants ultimately benefit from permanent residency by residing for five years. Ultimately, it may be even possible to secure Spanish citizenship at a later stage.
Properties can be bought and sold during this period, as long as the investment threshold is maintained. Therefore, the Spanish golden visa is also a good vehicle for real estate investors who intend to flip properties or undertake multiple investments. In this regard, our recommended lawyers and accountants could ensure that the transactions are done in a tax-efficient manner with regards to capital gains tax and other liabilities.
4) Long term residency or Spanish nationality (from the fifth year onwards)
After five years of continuous residence, investors can apply for permanent residence in Spain.
Likewise, after ten years of residence, Spanish citizenship may be granted. In such cases, an effective justification of at least six months of residence per year must be provided (subject to various exemptions).
Please contact us if you have any queries in regards to the process of securing the Spanish Golden Visa.