In 2013, Spain established the Golden Visa Program, permitting Non-EU foreigners temporary European residency with the ability to live or work in return for investing a minimum amount into the real estate market. If you and your family are from outside of the EU, the Golden Visa could be a great option for you to live in Spain. The Golden Visa Residency also allows the holders to move freely within the Schengen area.
If you are interested in retirement abroad, a secondary home for holidays or investment purchases outside of the U.S., EZ Luxury International Relocation is the starting point to your transition.
What is it?
Spain's residence by investment program, also known as the Spanish Golden Visa, allows Non-EU foreign nationals to make an investment in the country and apply for an investor visa. Successful applicants and their families are granted visa-free access across Europe's Schengen area.
In order to be granted the Golden Visa you must first meet one of the following conditions:
The purchase of a property or properties of a value greater than 500,000€.
The acquisition of shares in Spanish companies of an amount greater than 1,000,000€.
The purchase of Spanish Government bonds of an amount greater than 2,000,000€.
The creation of business projects of general interest.
A deposit of at least €1,000,000 in Spanish bank accounts.
The first investment must be mortgage-free, therefore you must have the required amount in cash.
You must also adhere to the following criteria:
Not living illegally in Spain.
Be over 18 years old.
The minimum property investment must be at least €500,000 (before taxes). These investments may be spread over one or more properties.
Investments can be made through a foreign company. It will be necessary to prove that you own or are the majority shareholder of this company.
Real estate investments must be documented before applying for a Golden Visa. Provide proof of the property investment, by providing the original deeds with the registry of property attesting ownership.
At any point, investors must not have been refused entry in any of the Schengen member countries.
It is mandatory to have public or private health insurance, which must be authorized to operate in Spain.
Investors must provide evidence of sufficient economic means for personal and family living expenses.
How long does the visa remain valid?
This visa allows residence in Spain for at least one year. After this time, it’s possible to apply for a Residence Authorization that has an initial stay of two years. If the investment and other requirements are maintained, the maximum duration of the residence permit is five years.
You can then renew it indefinitely every two years as long as you have maintained the investment (in other words, as long as you still own the property you have purchased).
If you decide to stay after five years of living in Spain with a two-year Residence Permit, you can apply for a Permanent Residence Permit.
Can I bring my family?
Residency in Spain will also be granted to your immediate family members and dependents.
We would love to assist you in your relocation abroad. Let's schedule a time to talk about your goals.
Read our blog for alternate visa options that could work for you.
Advantages to the Golden Visa Program - Spain
Diversification of assets.
Have a second home or investment property in an attractive, safe and thriving country.
Invest in a real estate market with a lot of potential for revaluation in the future.
Right to travel to Spain and all 27 countries in the Schengen area without a visa.