The Golden Visa for Spain, also known under the Spain Investor visa, is a residence permit issued to non-EU citizens who have made an investment of significant value in Spain for example, like buying real estate, purchase shares in a business and create jobs.
Who can apply for the Spain Golden Visa?
You can apply for the Spain Golden Visa if you meet the following criteria:
You can prove that you have made an investment choice.
You’re over your 18th birthday.
You obtain valid health insurance in Spain.
You’ve got enough money to cover your needs and those of any family members.
You have a criminal record in any of the cities you have lived in.
There is no place for you on Spain’s list of undesirable people.
There are no Schengen Visas.
If you qualify you can find lawyers and Golden Visa experts willing to assist you and guide throughout the process of obtaining a Golden visa to Spain.
What is the best time and place to apply to get the Golden Visa to Spain?
You should begin the process of applying after having made the necessary amount of money in Spain. You should be committed to making the investment however, it isn’t required to be signed off. The deadline for you to apply for is three months prior to your intended trip to Spain.
You are able to apply for an Spanish Golden visa through your home country through the Spanish embassy or consulate. You can also file an application for a visa to Spain in the event that you are on a visa for a long-stay stay.
Documents to be submitted when applying for an Spain Golden Visa
The required documents to include to support your application are:
The Spanish long stay visa application form.
Two Spain passport photos.
Your valid passport. It should have been issued within the last 10 years.
The proof of residency in the country.
Documentation of investment. Any documents that show the type and the amount of your investment as well as the origin of the money.
Residency Visas for Acquisition of Real Estate:
Certification that contains the dominion and taxes that are a part of Land Registry, which corresponds to the property bought.
Residency Visas for Capital Investors:
A copy of a report of investment in the Registrar of Foreign Investments of the Ministry of Economy and Competitiveness when investing in shares of companies that are not listed or unlisted.
Certificate of a financial broker, that is registered with the National Commission of the Stock Market or the Bank of Spain in case of investment in listed shares.
A certification issued by the financial institution or the Bank of Spain, if the investment is in bonds issued by the government.
If it is an investment in a bank account, the bank will issue a certificate from your financial institution.
Police Clearance. The document must be submitted in its original form, with photocopies and translations. It should not be older than 90 days at the time of application.
Evidence that you have enough economic funds to support yourself and your family while you are in Spain.
Medical Insurance purchased from an authorized Spanish company.
A medical certification, which indicates that you’re not suffering from any health condition that can pose risk to public health.
How do I apply for a Spain Golden Visa?
For an Golden Visa for Spain you have to go through the following steps:
You can choose one of the eligible investment options. You might need to travel to Spain with an ordinary Spain Visa at this point to finish your investment.
Apply for a Golden Visa. You must submit your application at the closest Spanish Embassy within 3 months of investing. You can submit your application yourself or through a legal representative.
Send the application along with the file for the document.
Get your residence permit. After receiving your Spain Golden Visa then you must journey to Spain to exchange the visa to obtain a Residence Permit and then submit your biometric data.
What are the advantages of The Spanish Golden Visa?
Some of the benefits that derive from using Golden Visa Spain are:
You and your family members will be granted Residence Permits which allow you to reside in Spain.
Members of your family can travel to any of the Schengen Zone countries visa-free for upto 90 days in a 180-day period.
There is no requirement to reside in Spain to renew the Golden Visa.
If you do live in Spain, you become eligible to become permanent residents after five years.
You are eligible to be eligible to apply for Spanish citizenship after ten years of residence.
You and your family members can benefit from Spain’s health and education system.
Can I take family members Along?
You may include any of the family members listed below in your application:
Your spouse
Your minor children who are not married (under 18) and any adult children who are dependent.
Parents who are dependent on their elderly parents.
How long can I stay in Spain with Gold Visa?
It is the Spain Golden visa is initially valid for a year. In the future, you may request to convert your visa into an investor’s residence permit and then obtain a 2 year valid residence permit.
For How Long is the Residence Permit granted?
The Residence Permit you receive via investment is valid for two years. The permit can be renewed at any time for so long as you’ve maintained the investment (in other words, as long as you still own the property you bought).
If you choose to relocate to Spain After five years of living in Spain and a residence permit of two years, you can apply for a Residence Permit, you can apply for a Permanent Residence Permit.
For How Long is the Spanish Golden Visa Residence Permit Given?
The Residence Permit you get with The Golden Visa is valid for two years. You can then renew it on a regular basis every two years for until you have kept the purchase (in the sense that you can keep it as that you still own the property that you purchased).
If you actually decide to reside in Spain in the future, after five years of living in Spain with the two-year Residence Permit and a Residence Permit, you are eligible to apply for a Permanent Residence Permit.
How Long Do I Have to Remain in Spain In order to Renew the Residence Permit?
There are no stay requirements for renewing a Golden Visa Residence Permit. It is only necessary to travel to Spain for the time you have to renew your application.
However, if you are planning to apply for permanent residence, then you must live within Spain for at least five years without interruption (at minimum six months in the course of the year). If you ever plan to apply for Spanish citizenship, you must reside in Spain for at least ten years.
Can I be evicted of my Residence Permit?
Yes, if you cannot show that you have kept any investment that you have made to Spain, then you will forfeit Your Golden Visa Residence Permit. As an example, suppose you decide to sell your home and liquidate the investment.
Spain Residency Through the Real Estate (Buying A House)
The most commonly used way to invest to get Spanish residency is through the purchase of property worth at least EUR500,000. It could be a single unit, or several units that total to half a million.
You need to prove that the ownership of the property or property by submitting a certificate from the Spanish Land Registry, which specifies the amount of purchase.
Getting Permanent Residency in Spain
If your first residence permit is about to expire, it is possible to apply for its renewal. You will be granted another five years in Spain, and you can continue to apply for renewal of your residency permit, so long as you fulfill the requirements of your initial application.
The process of obtaining Spain Citizenship by the Investment
A Spanish Golden Visa leads to the possibility of Spanish citizenship more than any other visa. That’s why it is called Spain Citizenship by Investment. It’s possible to get Spanish passports after ten years in Spain through a Golden Visa, given that you meet the following:
You’ve been in Spain for minimum 183 days per year, in 10 years.
You can speak Spanish at the very least at basic levels.
You have a basic understanding of Spanish history and culture.
There are no criminal convictions or debts to repay in Spain.
Do Nationals from former Spanish Colonies Get Citizenship Quicker?
If you’re from an earlier Spanish colony (one of the following countries) You can obtain Spanish citizenship as fast as two years as opposed to ten:
Argentina
Bolivia
Chile
Colombia
Costa Rica
Cuba
Dominican Republic
Ecuador
El Salvador
Guatemala
Honduras
Mexico
Panama
Paraguay
Peru
Philippines
Venezuela
If you’re from one of these countries, and you are granted the Golden Visa, then you are eligible to become a Spanish citizen within two years, as long as you’ve travelled to Spain at least eight times within the time.
Can I make use of a loan to obtain A Spanish Golden Visa?
It is not possible to be eligible for a Golden Visa if you use an installment loan to finance an apartment in Spain at least not for the minimum requirements. You need to make a loan of at least EUR500,000 from your own funds, however, if you make a payment that is more than that amount, you may be eligible to apply for the mortgage or finance.
Can I Travel in Europe With a Spanish Golden Visa?
Yes the Spain Golden Visa allows you and your family members to travel within the Schengen Zone visa-free for up to 90 days within a 180-day duration. However, non-Schengen countries in Europe have different requirements for visas, so free travel is not necessarily guaranteed.
Do I need Health Insurance Coverage for Spain?
Yes, it’s an obligation in the Golden Visa application process to obtain health insurance. All family members must have valid health insurance even if you never intend to move to Spain at all.
What type of health insurance Should I Consider Having In Spain?
Residents of Spain are eligible for public health insurance. However, in order to avail of Spain’s health system expats must work and be tax-paying in Spain since it is paid for by taxpayers.
If you are a holder of a Golden Visa, and you don’t intend to reside in Spain, you will have to get private health insurance through an insurance company that is authorized to conduct business in Spain. If you intend to reside in the country with taxes to pay, you and your family members can take advantage of the country’s health system.
Spain Golden Visa and Taxes
If you are not a permanent resident of Spain in the first instance, you are not required to pay income tax. It is considered that you are a resident only if you stay in Spain for more than half the year (more than the 183-day limit).
But, regardless of your residency status, if purchased a house in Spain it is still required to pay the relevant taxes, such as tax on rental and municipal income.
If you are not a full-time citizen, you will be required to pay 24.75 percent on rental income , or any other income that you earn in Spain.
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