Become a Spanish Resident with Spain’s Residency Visa (Spanish Golden Visa)
The Spanish Golden Visa Scheme
In 2013 the Spanish Government started to offer non-European Residents a “Spanish Golden Visa” opportunity that offers investors and individual home owners an opportunity to obtain a Spanish residency visa for a €500,000 cash investment within the Spanish property market.
Spain’s Residency Visa or “Spanish Golden Visa”
We have written the basic requirements for your “Spanish Golden Visa” though please feel free to contact one of our experienced team members who can either advise on the basic requirements or put you in touch with a local legal adviser based here in Marbella, Spain. Our specialist team can advise you on some exclusive property investments that will help you obtain a Spanish residency visa that will not only offer you a good return on investment but can also offer you and excellent opportunity to relocate your family to marbella one of the most beautiful coastlines in Spain.
Please note there is a difference between Spanish residency and obtaining citizenship by investing here in Spain. By obtaining a Visa this will give you and your family automatic residency to anyone who invests over €500,000 by purchasing a Spanish property (Please note this is a €500,000 cash investment and not a mortgage). This will give you the right to reside in Spain and travel freely within the Schengen Area consisting of 26 European countries, see below
The 26 Schengen countries are: Austria, Belgium, CzechRepublic, Denmark, Estonia, Finland, France, Germany Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland,Portugal, Slovakia, Slovenia, Spain, Sweden, and Switzerland.
Please note that this does not offer work entitlement or make you eligible for Spanish state benefits.
Please be advised that there is a minimum stay, but this requirement is only one day in every year. More importantly: your immediate family can benefit by living here as many people are already enjoying the benefits of sending their children to private schools and universities (The Residency Visa covers all immediate family members including children under the age of 18, though this age should be increased in the future).
By obtaining Citizenship this automatically grants an individual the same rights as a Spanish national and after a first Residency term of 5 years you can re-apply for another 5 years whereafter you can apply for full Spanish citizenship. Please note that this is subject to certain conditions and with a successful application a full Spanish passport will also be issued.
The visa will not be granted to anyone with a criminal record.
A minimum investment of 500,000 Euros per individual is required in Spanish real estate.
The individual must have Spanish private medical insurance.
The individual must provide proof of earnings to support property purchase.
Spanish Golden Visa Benefits
The individual has the opportunity to reside in Spain.
The minimum stay required is only one day in Spain per year with no obligation to live in Spain.
Free travel within the Schengen area.
The individual is under no obligation to become a Fiscal resident in Spain.
The individual has the possibility to become a permanent Spanish resident.
Once a Golden Visa is granted to the main family member, children and other family members can also obtain residency. (terms and conditions apply).
The individual may be able to purchase via a non-resident company (terms and conditions apply).
Frequently asked questions and answers
Do I have to purchase one property to the value of €500,000 or can I purchase multiple properties to obtain Residency?
As long as the properties purchased have a combined value of €500,000 or more you will be eligible for the Golden Visa.
Can I purchase a property for €500,000 and obtain a mortgage for 50% of this total?
No, you cannot.
Can I purchase a property for €800,000 obtaining a mortgage for €300,000?
Yes, you can, as long as the balance paid at the notary on completion totals €500,000 or more you will be eligible for residency.
If a husband and wife purchase a property with a value of €800,000 are we both eligible for Residency?
No, you would not be eligible for Residency as the total of this purchase would be only €400,000 for each individual. However, if the head family member can provide what the Spanish government call a sponsorship letter, residency for other family members should be granted quite easily.
Can I purchase through an off-shore company or non-resident company?
This is possible but the individual must be the majority shareholder within that so named company. You do not have to be the company administrator but the individual must have the majority voting rights within the company.
How soon after my property purchase can I apply for residency.
There is no application deadline, you can apply immediately for your residency after your Spanish real estate acquisition or you can take your time. Please note that Residency will only be granted for purchases made after this law was granted.
What are the benefits of submitting an application
There is no need to visit Spain for any longer than one day per year during the residency period.
This will help if you are intending to organise Fiscal residency.
It will generally achieve a much quicker processing time.
How long is this residency valid for?
Normally residency is granted for 1 year during the first application, a renewal is then normally granted for a further two years as long as the applicant remains as the property owner on the title deed. After 10 years full Spanish citizenship may be applied for (subject to terms and conditions).