Golden Visa – Visa opportunity for Foreign Real Estate Investors in Spain

The GOLDEN VISA is a legal instrument, created to promote foreign investment in the European area, which can generate a residence permit in Spain for those investors who buy a property with an investment of more than 500,000 Euros.

The GOLDEN VISA is a legal instrument, created to promote foreign investment in the European area, which can generate a residence permit in Spain for those investors who buy a property with an investment of more than 500,000 Euros.

The main advantages for foreigners when obtaining the GOLDEN VISA are the following:

  • Be able to enter Spain without a residence visa
  • Possibility of working and residing in Spain while maintaining habitual residence in another country.
  • Free movement in the European Union without the need for a visa
  • Access to Spanish permanent residence after 5 years and having complied with Spanish laws
  • Access to Spanish nationality at age 6

In summary, the general requirements to be met by a foreigner to obtain the GOLDEN VISA are the following:

  • Minimum investment of 500,000 euros in the purchase of a property in Spanish territory. Take into account that approximately 10-12% should be added derived from the property acquisition costs.
  • It is not necessary to buy a single property for a value greater than 500,000 euros, that is, you can buy several properties that the sum of the purchase values is greater than those 500,000 euros.
  • Investments must be documented before applying for the GOLDEN VISA
  • The renewal of the Spanish visa is done after 5 years
  • The Spanish residence visa can also be issued to the immediate family including spouse and children up to 18 years of age. There is an exception that may also include a child over 18 years of age who, due to health problems, are not able to take care of themselves.
  • There is no minimum stay requirement, that is, it is not mandatory to stay in Spain to renew the visa. This also implies that it is not necessary to be a tax resident. But yes, you must be able to demonstrate that you have traveled to Spain at least once during the first two years after applying and again at least for the following 3 years.
  • The property or properties acquired in Spain may be sold after having achieved permanent residence.
  • Once you obtain Spanish citizenship, you automatically obtain European citizenship.
  • During this time, the family can live, work or study anywhere within the EU.

In addition, it must also be borne in mind that the foreign citizen must meet a series of specific requirements to apply for the GOLDEN VISA. These are as follows:

  • To be 18 years old or more.
  • Not having been denied entry into any country of the European Union.
  • Not having entered or remained illegally in Spanish territory.
  • Prove that you have no legal background.
  • Have public or private medical insurance authorized for use in Spain and have sufficient financial means to cover your expenses in Spain.
  • To prove real estate investment in Spain, you must present the Property Registry certificate that proves the acquisition. Or, if the property title is not yet registered, deliver a copy of the public deed of acquisition and prove that the deed has been filed in the Registry.

In addition, it must also be borne in mind that the foreign citizen must meet a series of specific requirements to apply for the GOLDEN VISA. These are as follows:

  • To be 18 years old or more.
  • Not having been denied entry into any country of the European Union.
  • Not having entered or remained illegally in Spanish territory.
  • Prove that you have no legal background.
  • Have public or private medical insurance authorized for use in Spain and have sufficient financial means to cover your expenses in Spain.
  • To prove real estate investment in Spain, you must present the Property Registry certificate that proves the acquisition. Or, if the property title is not yet registered, deliver a copy of the public deed of acquisition and prove that the deed has been filed in the Registry.

Finally and very importantly, it must be shown that the funds you are using to purchase the property or properties in Spain come from legal economic sources in order to comply with international money laundering regulations.

From Maar Agency Property Consultants in Spain, we are delighted to be able to help you in this process or solve any doubt so that it is always easier to make your investment in Spain from Chile or any other country in the Region. We can also show you the many investment opportunities we have in Spain.

Maar Agency Real estate agent

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