Unlock Residency in Spain with the Golden Visa
Imagine the freedom to live, work, and travel throughout Spain and the Schengen Zone—while securing residency for you and your family.
The Spanish Golden Visa program offers a streamlined path to Spanish residency through investment.
Our comprehensive guide covers everything from qualifying investments to eligibility and application steps.
Guide to the Spanish Golden Visa Scheme
The Spanish Golden Visa is a popular residency-by-investment program that offers non-EU citizens the opportunity to obtain residency in Spain by making a qualifying investment. Launched in 2013, the program provides a fast-track to residency, allowing investors and their families to live, work, and travel freely within Spain and the Schengen Zone. Below is a comprehensive guide to the Spanish Golden Visa scheme.
1. Key Benefits of the Spanish Golden Visa
The Spanish Golden Visa offers several attractive benefits for investors:
- Residency in Spain: You and your family can live, work, and study in Spain.
- Free Movement within the Schengen Zone: Visa-free travel across 26 European countries within the Schengen Area.
- No Minimum Stay Requirement: You are not required to reside full-time in Spain to maintain the visa, allowing flexibility if you wish to maintain your primary residence elsewhere.
- Path to Permanent Residency and Citizenship: After five years of holding the Golden Visa, you can apply for permanent residency. After 10 years, you can apply for Spanish citizenship, provided you meet the residency requirements.
- Inclusion of Family Members: The Golden Visa extends to your immediate family, including your spouse, children under 18, dependent adult children, and dependent parents.
2. Eligibility and Investment Options
To qualify for the Spanish Golden Visa, applicants must make one of the following investments:
- Real Estate Investment: The most common route is purchasing property in Spain with a minimum investment of €500,000. This can be in the form of one or multiple properties and includes residential, commercial, or land purchases.
- Capital Investment:
- Invest at least €1 million in Spanish bank deposits or bonds.
- Invest €1 million in shares or equity of a Spanish company.
- Government Bonds: Purchase Spanish public debt with a minimum value of €2 million.
- Business Investment: Establish or invest in a business project in Spain that is considered in the public interest. This typically involves creating jobs, making a significant economic or technological impact, or contributing to scientific and social development.
3. Requirements for the Spanish Golden Visa
In addition to making a qualifying investment, applicants must meet the following general requirements:
- Non-EU Nationality: You must be a non-EU, non-EEA, and non-Swiss citizen.
- Minimum Investment: The investment must be at or above the minimum threshold and free of any loans or mortgages. Only the first €500,000 in property investment must be unencumbered.
- Clean Criminal Record: Applicants must have no criminal record in Spain or in the country of residence for the past five years.
- Sufficient Financial Resources: You must demonstrate that you have sufficient financial means to support yourself and your family during your residency in Spain.
- Health Insurance: You need private health insurance valid in Spain.
- Age: You must be over 18 years old.
4. Application Process
The application process for the Spanish Golden Visa is relatively straightforward and can be completed in a few months:
- Make the Investment: Begin by completing the qualifying investment (e.g., purchasing property or making a capital investment).
- Gather Required Documents: You will need to collect and submit documents such as proof of investment, a valid passport, clean criminal record, health insurance, and proof of sufficient financial resources.
- Apply for the Visa: You can submit your application at the Spanish Consulate in your home country or directly in Spain. The initial visa allows you to reside in Spain for one year.
- Obtain Residency Permit: After one year, you can apply for a two-year residency permit, which can be renewed every five years, as long as the investment is maintained.
5. Renewal and Maintaining the Golden Visa
The Golden Visa can be renewed indefinitely, as long as the investment is maintained and you meet the basic conditions, such as holding health insurance and continuing to have no criminal record. Importantly, there is no requirement to live in Spain for a certain number of days each year to renew the Golden Visa, making it highly flexible.
- Residency Permit: Initially valid for one year, then renewable every two years.
- Permanent Residency: After five years of continuous residency in Spain, you can apply for permanent residency, provided you have spent at least six months per year in Spain during this period.
- Spanish Citizenship: After ten years of residency, you can apply for citizenship, assuming you meet the residency requirements and language/cultural integration criteria.
6. Family Inclusion
The Spanish Golden Visa allows family reunification, meaning that the following family members can also obtain residency under the same investment:
- Spouse or legal partner.
- Dependent children under 18 or children over 18 who are financially dependent (such as university students).
- Dependent parents of the main applicant or their spouse.
7. Tax Implications
While the Golden Visa allows you to reside in Spain, you are not automatically considered a tax resident unless you spend more than 183 days per year in Spain. If you become a tax resident, you will be subject to Spanish taxes on your worldwide income. However, there are tax incentives available for new residents, such as the Beckham Law, which can limit the taxation of foreign income for the first six years of residency.
8. Why Consider the Spanish Golden Visa?
The Spanish Golden Visa is one of the most flexible and investor-friendly residency programs in Europe. Whether you're looking for a lifestyle upgrade, greater freedom of movement, or a solid investment opportunity, Spain’s Golden Visa offers many advantages.
LETS MAKE IT HAPPEN
At Triple L Estates & Investments, we can assist you with the property investment and guide you through the entire process of applying for a Golden Visa. We specialize in helping clients find the best real estate opportunities that not only fit their needs but also qualify for Spain’s Golden Visa program.