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Home » The Spanish Golden Visa – what are the benefits and am I eligible to apply?

The Spanish Golden Visa – what are the benefits and am I eligible to apply?

An Golden Visa for Spain, also known informally as Spain Investor visa, is an immigration permit that is granted to non-EU citizens making a significant investment in Spain which includes, for instance, buying real estate, purchase shares in a business or create job opportunities.

Who can apply for a Spain Golden Visa?

You qualify to apply for a Spain Golden Visa if you satisfy the following criteria:

You have proof of having taken advantage of one of the investment choices.
You’re above an age limit of.
Health insurance coverage is valid in Spain.
You have enough financial means to provide for yourself and family members.
You have a clear criminal record in any of the locations you have lived in.
You are not in the list of Spain’s undesirables.
You don’t have any Schengen Visas.

If you are eligible you can find lawyers and Golden Visa experts willing to assist you and guide through the entire procedure of getting an Golden visa for Spain.

What is the best time and place to apply to get an application for the Golden Visa Spain?

You must begin the procedure after you have put in the required amount of funds in Spain. You should be committed to making the investment however it doesn’t have to be to be completed. The earliest you are permitted to apply for is three months prior to your intended trip to Spain.

You can apply for the Spanish Golden visa through the country where you reside by lodging your application at the Spanish consulate or embassy. You can also make an application for a visa to Spain in case you’re already here on a visa for a long-stay stay.

Documents to be submitted when applying for an Spain Golden Visa

These documents you need to be able to 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. All documents proving the type and value of your investment, as and the place of origin of your investment.
Residency Visas for Acquisition of Real Estate:
Certification containing information of the dominion and taxes from the Land Registry, which corresponds with the property you purchased.
Residency Visas for Capital Investors:
A copy of a report of investment made 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 from a financial intermediary duly registered with the National Commission of the Stock Market or the Bank of Spain in case of investments in listed shares.
A certificate of the financial institution or the Bank of Spain, if the investment is in government bonds.
In the event of an investment in a bank account, a certificate from an institution of finance.
Police Clearance. Send this document in original, photocopied , and translated. It cannot be more than 90 days from the date of the application.
Evidence that you have enough economic funds to support yourself as well as your dependents during your stay in Spain.
Medical Insurance purchased from an authorized Spanish company.
Medical certificate, which confirms you do have any disease that poses risks for public health.

How to Apply for a Spain Golden Visa?

To apply for an Golden Visa for Spain you need to follow these steps:

Choose one of the eligible investments. You may need to travel to Spain using an ordinary Spain Visa at this point to finish your investment.
Apply for the Golden Visa. You should lodge your application at the closest Spanish Embassy within three months of investing. You can apply yourself or through a representative of a legal entity.
The application must be submitted along with the file for the document.
Get your residence permit. After you have received your Spain Golden Visa You must go to Spain and exchange it to obtain the Residence Permit and submit your biometric data.

What Are The Benefits Of The Spanish Golden Visa?

Some of the benefits that derive from the Spanish Golden Visa are:

You and your family members will be issued Residence Permits which allow you to reside in Spain.
You and your family members are allowed to travel to all Schengen Zone countries visa-free for up to 90 days in a 180 day period.
It is not necessary to reside in Spain to renew your Golden Visa.
If you 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 residency.
Your family members and you are able to benefit from the Spanish health and education system.

Can I Bring Family Members With Me?

Include these family members in your application:

Your spouse
Your minor children who are not married (under 18) and any adult children who are dependent.
Senior parents who depend on them.

How Much Time Can I Stay in Spain with A Golden Visa?

This Spain Golden visa is initially valid for a year. You can then make an application to convert your visa to a residence permit for investors and get a two years valid residence permit.

For How Long is the Residence Permit Granted?

The Residence Permit you get as a result of investing is valid for two years. The permit can be renewed for a period of two years indefinitely provided you’ve maintained your investment (in other words, as that you still own the property you purchased).

If you actually decide to move to Spain and you are able to do so after an initial five-year period within 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 It is granted?

The Residence Permit you receive via The Golden Visa is valid for two years. The permit can be renewed for a period of two years indefinitely until you have preserved your investment (in the sense that you can keep it as long as you are still the owner of the property you purchased).

If you choose to move to Spain in the future, after the period of five years living in Spain with a two-year Residence Permit, you can apply for a Permanent Residence Permit.

How Long Do I Have to stay in Spain In order to Renew the Residence Permit?

There is no requirement for a stay to renew an Golden Visa Residence Permit. Only need to go to Spain for the time you have to renew your application.

However, if you intend to pursue a permanent residence in Spain, you must reside within Spain for at least five years with no interruption (at minimum, six months in the course of the year). If you ever plan to seek Spanish citizenship, then you will need to reside in Spain for at least ten years.

Can I Get Rid of My Residence Permit?

Yes, if you can’t show that you have kept an investment made Spain and you fail to prove it, you’ll lose Your Golden Visa Residence Permit. For example, if you sell your property or liquidate your investment.

Spain Residency Through Real Estate (Buying A Home)

The most well-known investment option to obtain Spanish residency is through buying property that is worth at least EUR500,000. It can be a one unit or a number of units that amount to half a million.

You must prove that you’ve acquired ownership of the property/properties with a document issued by the Spanish Land Registry, which specifies the amount of purchase.

Permanent Residence in Spain

When your residence permit is scheduled to expire, it is possible to apply for its renewal. You could get another five years in Spain as well as continue to apply for renewal of the residence permit, in the event that you meet the requirements of your initial application.

Getting Spain Citizenship by Investment

The Spanish Golden Visa leads to Spanish Citizenship more often than other visa, which is why it is known as Spain Citizenship by Investment. You can obtain Spanish passports within 10 years of being in Spain by obtaining the Golden Visa, given that you fulfill the following conditions:

You’ve lived in Spain for at least 183 consecutive days per year, in 10 years.
You are fluent in Spanish at the very least at basic levels.
You are familiar with the basics of Spanish the culture and history.
You have no criminal convictions or debts to repay in Spain.

Do Nationals from former Spanish Colonies Get Citizenship Quicker?

Yes, if you are from the former Spanish colony (one of the following countries) You can obtain Spanish citizenship in as little as two years of residency instead of ten years:

Costa Rica
Dominican Republic
El Salvador

If you are from one of the aforementioned countries, and you receive the Golden Visa, then you are eligible to become an Spanish citizen within two years, as long as you’ve visited Spain at least eight times in that time.

Can I Use a Mortgage To Get A Spanish Golden Visa?

There is no way to be eligible for a Golden Visa if you use a mortgage to pay for an apartment in Spain or at the very least, not in the minimum amount. You have to make a loan of at least EUR500,000 with your own funds but for anything over the threshold, you may be able to use a loan or mortgage.

Can I travel to Europe with A Spanish Golden Visa?

Yes the Spain Golden Visa allows you and your family members to travel in the Schengen Zone visa-free for up to 90 days in a 180-day period. However, some countries outside of Europe have their own visa requirements, so visa-free travel isn’t always guaranteed.

Do I require health Insurance Protection for Spain?

Yes, it is a requirement of the Golden Visa application process to get health insurance. Your family members and you must be covered by health insurance even if you don’t intend to move to Spain in any way.

What kind of health insurance Should I Consider Having In Spain?

Residents of Spain are eligible for health insurance coverage through the public system. However, to take advantage of the health system in Spain expats need to be employed and pay taxes in Spain because it is financed by taxpayer money.

If you have a Golden Visa, and you do not intend to live in Spain it is necessary to purchase private health insurance through a company that is licensed to do business in Spain. If you intend to reside in the country that has tax-paying, you and your family members are able to make use of its health system.

Spain The Golden Visa and Taxes

If you are not a full-time citizen of Spain that is, you don’t have to pay tax on your income. The term “resident” is used only if you are a resident over a greater than 50% the year (more than the 183-day limit).

But, regardless of your residence status, if you purchased a property in Spain it is still required to pay for the taxes like tax on rental and municipal income.

If you’re not a full-time resident, you must pay 24.75% on rental or other income you earn in Spain.