Simplicity in its application process. And the possibility to live and work in Spain (bringing your family with you), without the need to visit the country more than once a year. The golden visa is frequently cited as the quickest route to obtaining Spanish territory residency. The option that is most comfortable too as well. All you have to do to get this visa is make an investment in Spain. Everything you need to know about the investor’s visa in Spain will be covered in this post.
The Golden Visa program is a special type of residence designed exclusively for all non-EU nationals who wish to move to Spain and make a significant investment there.
Most non-Europeans must go through complex processes to obtain residency permits. Too much labor to simply obtain a visa due to the amount of paperwork, regulations, and bureaucracy. As a result, the popularity of the investor visa in Europe has been steadily rising.
Why? For keeping its straightforward promises of speed and simplicity.
Spain has established itself as one of the Golden Visa paradises, as noted in the journal El Pais. The number never fails to astound us: of the roughly 6000 residence permits issued in the nation in 2018, almost 600 were golden visas.
We should be able to see that Spain continues to give more and more golden visas. And there is little question that this trend will endure over time.
The golden visa is intended for all non-EU nationals who want to make an investment in Spain in order to get residency.
There is little doubt that China and Russia are the two nations where this residence permit has gained the most popularity.
However, those with this visa from Lebanon, Venezuela, and Iran are also very numerous.
Their primary reason? Additionally, they have discovered a place to put their money in Spain, gaining the right to a visa that substantially avoids the formalities of the other visas.
It is crucial to note the special regulation in this situation that governs the investor residency permit. Why? Because the 14/2003 Entrepreneur's Law is the topic at hand and not the overall Spanish Immigration Law.
And this distinction will be crucial to your legal situation, particularly when it comes to the application and subsequent renewals.
You can apply immediately from Spain, unlike any other visa under the general rule on foreigners.
Second, the golden visa gives you first permission to reside and work in Spain for a period of two years (instead of just 1).
Another distinction with the other permits issued under the same Entrepreneur Law may be seen here. After five years, the second renewal for a visa gold is made. You will then be able to apply for permanent residency.
The investor will have two years to live legally in Spanish territory after receiving his golden visa status.
The applicant has the option to renew this permission for an additional five years once this period has passed.
The expat must show that she still has ownership of the item that served as the focal point of investment—whether it was real estate, stock, or public debt—in order to carry out this procedure.
You also need to have traveled to Spain at least once this year.
Are you open to requesting citizenship through investment? Keep in mind that one of the various options for obtaining Spanish nationality is the golden visa. The investor will become a citizen of Spain after ten years of lawful residence.
You can follow one of the following routes to apply for the golden visa in Spain:
To begin with, purchasing a piece of real estate worth more than € 500,000 qualifies you for an investment visa. But what happens if a number of people or investors buy the property? In that situation, it is important to keep in mind that each person will be factored into the investment calculation. This means that we won't be allowed to apply for the visa if our personal investment to the property is less than € 500,000.
Second, investing in Spanish stock or holding a bank account worth more than €1 million in a Spanish company. You will also be able to use this residency permit after doing that.
Possession of Spanish government debt of at least €2,000,000.
Finally, investing in a business project that will be developed in Spanish territory. The initiative must provide jobs, contribute to the nation's advancement in science and technology, or have a minimal socioeconomic impact, according to these main conditions.
You might be tempted to think that the only expense you’ll have to worry about while applying for your golden visa is the price of the home you’re buying.
But you might be wrong. There could be extra expenses associated with purchasing a house, particularly in terms of taxes.
Whether you are a tax resident or not will determine the precise amount of tax you will be required to pay. However, in essence, you’ll have to pay:
The candidate must fulfill the following requirements in order to be eligible for the golden residency:
Remember that the golden visa is exempt from the usual immigration rules. A separate statute, the Entrepreneurs law, designed to draw talent and investment to Spain, governs it.
This statute created new employment, residency, and immigration permits. The investment visa is one of them, but there are also others like the entrepreneurial process itself, intra-corporate transfers, and highly qualified work permits.
As a result, the institution in charge of reviewing the application won’t be the immigration office situated where the applicant would be residing. The Large Business Unit, a specialized division, is in charge of reviewing and approving the files in Madrid.
All British nationals seeking a simple route to residency in Spain after Brexit are evaluating their best options.
And in that regard, along with the non-lucrative visa, the golden visa is quickly rising to the top of the list of desired possibilities.
And the cause is straightforward: all of those Britons who previously emigrated to Spain did so under the EU system, which had a really simple and easy immigration process.
Thus, there is currently a need to discover a substitute that provides comparable terms.
For those foreign nationals from the UK, the investor residence permit appears to be the best option. They can apply for this permit straight from Spain, which gives them the ability to work, and the key requirement—a real estate investment—is typically already met because they frequently buy homes.
We saw in the previous section that proving that the investment has been made through the proper document is one of the essential conditions to obtain residency through real estate investment.
What specific documentation support that investment, exactly? Let’s respond to that query in accordance with the path we need to follow:
The certification of domains and fees from the Property Registry must be presented as proof of the acquisition of the property if we wish to apply for the golden visa through an investment in real estate.
When investing in Spanish stocks, you must provide both a certificate from the financial intermediary registered with the Securities Market National Commission for the sale of shares and a statement of the investment from the Investment Register of the Ministry of Economy.
We will require the certificate from the Bank of Spain or the financial institution with which we managed the investment if what we have done is invest in Spanish public debt. We must make it very apparent in that essay how we are the main characters in that purchase.
The certificate given by the financial institution with which we have the arrangement will also be required for investing in bank deposits. It’s important to note that we explicitly state in that document that we are the only owners of the money.
*With regard to the certificate of domains and charges, we’re referring to a record that specifies the property’s owner, her ownership stake, and the purchase price. The competent authority will evaluate whether or not the investment meets the need for this visa through this certificate, as well as whether or not you have asked for a mortgage to be paid.
The following are the top queries about this visa:
It could take up to 20 days for the competent authority to receive all of the required paperwork before we learn the outcome.
It can be favorable, or we can get a denial.
We have one month to apply for our visa at the Spanish embassy in the nation of the investor after receiving the resolution with a favorable outcome. At that point, we'll need to fly to Spain to submit our application for a Golden Visa when it has been approved.
The TIE (Identity Card of the Foreigner) must be obtained, and fingerprints must be taken at any police station in Spain. Since we only have one month to complete this process, we cannot afford to wait too long.
That's all there is to it!
If you don't want to spend the time on all these tedious procedures, let us handle it for you. Get your Golden Visa FAST by contacting us. You only need to contact us, and we will walk you through the entire process!
Several of our clients have asked us this question. Can I obtain financing, such as a mortgage, to buy the property? No. You must put at least 500.000 euros out of your own money. Without financing.
However, you can use finance for the exceeding part.
Let's take the case where the home you want to purchase costs €1.000,000. If you want the golden visa, you will then need to invest €500,000 right away. But you can obtain a mortgage for the remaining €500,000.
100%. Actually a lot of people operate in that way. The essential thing to keep in mind is that your total investment, including all the assets you buy, is €500,000. (minimum). So, for instance, you might buy a home for 450.000 euros and supplement it with a parking space or another business for 50.000 euros. In that case, you would still be qualified for an investor visa.
Yes. By requesting this visa as the primary investor, you are permitted to bring your partner and children. But keep in mind that in order to bring your kids, they must be under 21, enrolled in school, and dependent on you financially.
Many individuals are unsure about this. What would happen if I purchased the property in the past but later decide to apply for an investor permit? There wouldn't be any issues. You are capable of doing it. The only prerequisite is that the home has to be purchased after 2014, when the law governing the golden visa went into effect.
For instance, if you purchased a home in 2017 but wish to apply for an investment visa two years later, you can easily obtain the residence. But that wouldn't be possible if you had purchased it in 2013.
This is a really significant topic. Because, whether you like it or not, you will have to start paying taxes if you are granted residency in Spain.
But which ones and how much, exactly?
We will use the most typical instance to provide an answer because it is not a simple question to answer and relies on your specific situation.
Golden visa holders typically travel to Spain just once or twice a year because they do not need to stay for more than six months in order to renew their permits. Due to this, they are no longer considered residents for tax purposes (which really conditions the taxes they will end up paying).
What matters most right now is if they decide to rent out the house during the time they aren't in Spain.
Finally, they must pay wealth tax, which can range from 0.2% to 2.5%, if the combined value of all of their properties in Spain exceeds €700.000 (although this amount may vary depending on your region).
The majority of the doubts and commonly asked questions regarding the golden Spanish visa have already been addressed.
If you have any questions unique to your situation or if something has not been made clear to you… Please don’t hesitate to get in touch with us; we’ll be pleased to assist you!