All About the Golden Visa in Spain and the Investors Residence Permit
What is the Spain golden visa programme?
If you're an investor and a want to live in spain or residency in EU, then keep reading this because Spain is providing you the golden opportunity to avail such an option, or better yet, termed the 'Golden Visa.'
A lot of people want to live in Europe, and more so than that, they want a European passport, the Spain’s Golden Visa program is the best way to obtain that.
The government of Spain has approved of the Investor's Residency law, which gives people a bit of money to run a business project in spain and invest in lands of substantially, earns profit through renting out, and provides a bit of boost to the economy of the country.
Many countries have been employing the Golden Visa option such as Malta, Thailand, Greece, Ireland, etc. that all offer their lands to Non-EU citizens, but all of them have different prices that need to be used to apply for their Golden Visas.
These Visas are used to get residency permits for their respective countries and, after a specified time, the nationality of the said country.
Golden Visas are one of the fastest, flexible, and renewable ways to get a citizenship of a country for Non-European members, and this way avoids a lot of hassle that comes with the task of applying for nationality.
On the 27th of September 2013, Spain had finally approved of the investor's visa, ushering in a new age for new investment opportunities and productive immigrants for the Spanish government.
This law invites non-EU investors from around the world to invest in the real estate market of the country through Spain’s golden visa, which by the application of this law, is growing day by day as a flexible and profitable sector of business.
Golden Visa Spain 2020 is the best place to invest, and it's only going to get better from here.
As the law is still relatively new and more positive changes are sure to come in it, to give future investors more incentive to come to invest in the real estate sector of Spain.
How to apply for a golden visa in Spain and get the investor residence permit?
According to the new investor’s law, there are a few articles, mainly articles 61 to 67, that present the non-EU investors to apply for the Spanish residency.
The difference between residency permits and residency visas is made clear in the law, and each has its processes that need to complete.
The main difference is that if you’re applying from outside of Spain, you'll get a residency visa, and it's valid for up to one year; you can get the visa in 10 days.
However, if you apply for the residency permits within Spain, whether you do it while on a tourist visa or Schengen visa, you'll receive the permit after twenty days, and you'll have two years of validity.
Both of them are renewable, and you can apply for anyone that suits your needs.
Golden visa programme renewalin Spain is relatively easy and avoids long dragging hassles.
To apply for the Golden Visa Spain 2020, you'll have to have a hefty sum of 500,000 euros in your wallet. The amount needs to be free from any mortgages, charges, taxes, or any other fees. You'll need to buy a spanish real estate with this amount. You can also:
- Invest 2 million euros in Spanish treasury bonds.
- Invest 1 million in public share trading in Spain.
- Deposit 1 million in Spanish bank accounts.
The most flexible of these options is the first one as it’s much cheaper than the other options, plus it’s the most profitable as you can rent out business and homes to your liking, making sure you get your money back faster than the other ways above.
You can also buy a single property or multiple properties for sale all around the country; it just needs to add up to half a million euros.
The investments can be made if you direct bank deposits it or through a legal person such as a lawyer, preferably. The legal person should not be in a location that would be considered a tax haven, by the bank of Spain.
The person who runs the business project in spain must have direct control of their business; otherwise, the investment will be considered null.
Spaniard golden visa requirements for real estate investors
You can apply for the residency permit when you’ve complied with the rules set out by the government of Spain. Such rules are as follow:
- The investors need to acquire land worth of 500,000 euros, at least, will be done through the legal person, and the investment will create employment or significant improvement to scientific innovation or economy of that area.
- Ownership of the residency visa or permit and has not been expired for over 90 days.
- The applicant has at least traveled to Spain once; the evidence is shown for the application to go through.
- The applicant will have legal support for the investments. Depending on the finances, the applicant will have to provide various documents to support the claim of the investment.
Benefits of applying for golden visa in Spain
Many countries in the world are offering Golden Visa to investors outside their countries, so why should you consider Spain? The easy answer is that the law is new, and this is a fresh opportunity for new investors.
If the reasons above aren't enough, then the following reasons might convince you to make a real estate investment and have residency in Spain.
Fast, flexible, and renewable:
The Residency Visa in Spain is considerably quick. Instead of applying for citizenship after staying for ten years or marrying a locale, you can invest in the real estate market and necessarily, half the time of the process, and get citizenship in 5-6 years.
The Golden visa renewal in Spain happens after 1 or 2 years, depending on the type of permit you're in possession, without even staying for a whole six months in the country, which you wouldn't be able to do under normal circumstances.
You get the new visa within 22 days, and you can continue to make a profit of your investments while being abroad for your other activities.
Spain’s Golden Visa allows you to take the direct family of the applicant.
The family includes the parents that are dependent on the applicant, their husband/wife, their children, and their grandchildren that can have permanent residency.
The smooth moving of such families gives more incentive for the applicant to invest and move in to make a life for themselves in the great Spanish lands.
Many investor visas start as affordable as low of about 300,000 euros. The Spanish investments are a minimum of 500,000 euros. Still, it's much less expensive than the ones that the United Kingdom, Cyprus, or Australia that want investments of over a million euros.
The applicant gets the European Visa after getting citizenship, so why bother with the more expensive options when you can get it for almost half the price.
Part of the European Union:
The ability to move throughout Europe is one of the most advantageous elements of the European Union. Luckily, Spain is part of the EU.
After investing in its market, you’ll get the ability to move throughout Europe with Spain’s golden visa, opening up new avenues of business ventures or just plain old travel for the thrill-seeking investor.
Do you need help to get your investor residence permit buying a property in Spain?
Fee free to contact our real estate agents in Torrevieja for more information.
Calle Maria Parodi No. 2
Torrevieja 03181 (Alicante).
(+34) 671 200 307 · (+34) 966 056 676