In a nutshell, the Spanish Golden Visa Program allows you to acquire residency in Spain if you spend more than € 500,000.- buying a property there. The lawmakers obviously had a simple goal with this Program’s introduction and that’s to stimulate top quality immigration and foreign investments. It’s worth mentioning that this minimal price of at least half a million of Euros should include an additional percentage of about 13%. Why? Well, you need to cover all taxes, VAT, notary, lawyer costs, etc. So, how does the Spanish Golden Visa Program work? First of all, you need to apply for a 90-day visitor’s (Schengen) Visa. It’s recommended that you opt for the business visa type. Hand-in-hand with your visa application, you need to obtain a lawyer’s invitation letter who’s taking care of it. This also requires an appropriate power of attorney. Now all that’s left for you to do is to find a suitable property in Spain with a combined value of at least €500,000. This is a direct way to obtain an investor’s visa, which will eventually lead to the final goal and that’s a residence visa. This is where we jump in with our skills, experience, and contacts. Trying to find a suitable property in Spain on your own can be quite a difficult task and we dare to say a true mission impossible. This just couldn’t be more so when you’re looking for a half a million Euro property. Of course you want to make sure you’re getting a dream home for this amount of money.
When applying for an Investment Visa, you need to be fully aware of these restrictions:
- No previous record of illegal staying in Spain.
- Being over 18 of age.
- Not having been refused previously to enter into any of the Schengen countries.
- Have an appropriate Spanish health insurance.
- Have enough funds at your disposal to cover all living expenses.
- An adequate investment proof issued through the Registry of Property.
- No previous criminal record.
Once you obtain the Golden Visa, you and your family members will be able to live and work in Spain. The great thing about this program is that there’s no minimum residence period. In other words, as an investor, you and your family members can acquire properties and travel across Spain without restrictions. In addition, you and your family members can live in Spain permanently and benefit from unlimited access to the education system, by following both Spanish and/or English curriculums. Finally, after five years of continuous work and life in Spain, you’ll become eligible to apply for an unlimited residence permit and after 10 years you can apply for Spanish nationality.