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Golden Visa Spain – Complete Guide for Investors

It is a Golden Visa for Spain, officially known by the Spain Investor visa, is an immigration permit that is granted to non-EU citizens making substantial investments in Spain that includes buying real estate, invest in a business or create opportunities for employment.

Who can apply for a Spain Golden Visa?

You are eligible to apply for the Spain Golden Visa if you satisfy the following criteria:

There is proof that you’ve taken advantage of one of the investment options.
You’re above your 18th birthday.
You can get health insurance valid in Spain.
You’ve got the financial resources to support yourself and your family members.
You have a clear criminal record in any of the cities you have lived in.
You are not in Spain’s list of people to avoid.
You don’t have any Schengen Visas.

If you are eligible you can find lawyers and Golden Visa professionals willing to assist and guide throughout the procedure of getting a Golden Visa for Spain.

When and Where to Apply to get an application for the Golden Visa to Spain?

You must begin the procedure after you have made the necessary amount of funds in Spain. It is essential to commit to making the investment however, it isn’t required to be made. The earliest you are permitted to apply for is three months before your intended trip to Spain.

You are able to apply for an Spanish Golden visa from your home country by lodging your application at the Spanish consulate or embassy. 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 Submit When Applying for the Spain Golden Visa

The documents you must submit to support your application are:

The Spanish long stay Visa application form.
Two Spain passport photos.
Your valid passport. It must be issued within the last 10 years.
Evidence of residence in the country.
The proof of investment. Documents that prove the nature and size of your investment, as well as the source of your investment.
Residency Visas for Acquisition of Real Estate:
Certification containing information of the dominion and taxation that are a part of Land Registry, which corresponds to the property bought.
Residence Visas are required for Capital Investors:
A copy of a declaration of investment made in the Register of Foreign Investments of the Ministry of Economy and Competitiveness when investing in shares of companies or unlisted shares.
Certificate of a financial intermediary that is registered with the National Commission of the Stock Market or the Bank of Spain in case of investment in shares listed.
A certification issued by the financial institution or the Bank of Spain, if the investment is made in government bonds.
If it is deposits at banks an official certificate issued by your financial institution.
Police Clearance. Send this document in original form, with photocopies and translations. It shouldn’t be older than 90 days from the date of the application.
Evidence that you have enough economic money to pay for your own and your family while in Spain.
Medical Insurance purchased from an authorized Spanish provider.
Medical certificate, which indicates that you’re not suffering from any condition that is risky to the public health.

How to apply for the Spain Golden Visa?

If you want to get a Golden Visa Spain you need to follow these steps:

Select one of the approved investment choices. You might need to visit Spain with a regular Spain Visa during this period to complete your investment.
Apply for the Golden Visa. It is recommended to submit your application at the nearest Spanish Embassy within three months of making the investment. It is possible to apply by yourself or through a legal representative.
Submit the application along with the file for the document.
Find your residence permit. After receiving the Spain Golden Visa You need to visit Spain to exchange the visa for a Residence Permit and then submit your biometric details.

What Are The Benefits Of The Spanish Golden Visa?

The benefits of the Spanish Golden Visa are:

Your family members and you will be issued Residence Permits allowing you to live in Spain.
You and your family members are allowed to travel to all Schengen Zone countries visa-free for upto 90 days within a 180-day period.
You do not need to be a resident of Spain for the renewal of your Golden Visa.
If you do live in Spain then you are qualified for permanent residency after five years.
You can apply for Spanish citizenship within ten years of residing in Spain.
Family members of yours and you can take advantage of Spain’s health and education systems.

Can I bring family members with me?

You can include these family members in the application form:

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

How Do I Get to 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 get a two years valid residence permit.

For How Long Is the Residence Permit Granted?

The Residence Permit you are granted by way of investment is valid two years. You can then renew it for a period of two years indefinitely until you have maintained your investment (in other words, as long as you still own the property you purchased).

If you do decide to move to Spain, then after an initial five-year period there for five years, Spain using a 2-year Residence Permit You can apply for a Permanent Residence Permit.

How Long Can The Spanish Golden Visa Residence Permit Granted?

The Residence Permit you receive via Golden Visa Golden Visa is valid for two years. You can then renew it at any time for as long as you have preserved your amount you invested (in other words, so long as you are still the owner of the property you have purchased).

If you do decide to move to Spain After 5 years in Spain with a two-year Residence Permit and a Residence Permit, you are eligible to apply for a permanent Residence Permit.

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

There aren’t any requirements for staying for renewing a Golden Visa Residence Permit. Only need to travel to Spain for the time you have to renew your application.

However, if you intend seeking permanent residence in Spain, you must reside for a period of Spain for at least five consecutive years without interruption (at minimum six months in the course of the year). If you are ever planning applying for Spanish citizenship, then you will need to reside in Spain for at minimum ten years.

Can I lose my Residence Permit?

Yes, if you cannot prove that you’ve maintained any investment that you have made to Spain Then you’ll lose Your Golden Visa Residence Permit. For example, if you decide to sell your home or liquidate your investment.

Spain Residency Through Residency Through Real Estate (Buying A Residence)

The most commonly used investment option to obtain Spanish residency is by purchasing an investment property with a minimum value of EUR500,000. This can be a single unit or several units which amount to half a million.

You need to prove that you own the property/properties by way of a certificate given by Spanish Land Registry, which indicates the purchase price.

How to get Permanent Residence in Spain

If your first residence permit is about to expire, you can apply for a renewal. You will be granted another five years in Spain, and you can continue to apply for renewal of your residence permit as long as you meet the original requirements.

How to Get Spain Citizenship through the Investment

It is believed that a Spanish Golden Visa leads to Spanish Citizenship more than any other visa, which is why it is known as Spain Citizenship by Investment. It’s possible to obtain Spanish passports within 10 years of being in Spain with the Golden Visa, given that you fulfill the following conditions:

You have remained in Spain for at least 183 days per yearfor 10 years.
You are fluent in Spanish at least of basic levels.
You have a basic understanding of Spanish the culture and history.
You have no charges or convictions for criminality in Spain.

Do nationals from former Spanish Colonies Get Citizenship Quicker?

If you’re from a former Spanish colony (one of the following countries) you could be granted Spanish citizenship as fast as two years rather than ten.

Costa Rica
Dominican Republic
El Salvador

If you are from one of the aforementioned countries, and you are granted the Golden Visa, then you could become a Spanish citizen within two years, as long as you’ve travelled to Spain at least eight times within that period.

Can I Use a Mortgage to obtain an Spanish Golden Visa?

No, you will not be eligible for a Golden Visa if you use the mortgage option to purchase an investment property in Spain or, at a minimum, not for the minimum requirements. You need to make a loan of at least EUR500,000 from your own funds, however, for any amount that is greater than the threshold, you may be able to get an investment loan or mortgage.

Can I travel in Europe with A Spanish Golden Visa?

Yes you can. A Spain Golden Visa allows you and your family members to travel to the Schengen Zone visa-free for up to 90 days in the 180-day timeframe. However, some countries outside of Europe have specific visa requirements for their citizens which means that free travel is not always guaranteed.

Do I need Health Insurance Coverage for Spain?

Yes, it is an obligation for the Golden Visa application process to be covered by health insurance. All family members need to have valid health insurance even if you do not intend to live in Spain at all.

What kind of health insurance Do I need in Spain?

Residents of Spain can avail health insurance coverage through the public system. To avail of the Spanish public health system expats must have a job and pay tax in Spain because it is funded by tax payers.

If you’re the Golden Visa, and you do not intend to live in Spain, you will have to get private health insurance through an insurance company that is authorized to operate in Spain. If you plan to live in Spain with taxes to pay, you as well as your family members may make use of its health system.

Spain Golden Visa and Taxes

If you are not a full-time citizen of Spain that is, there is no need to pay tax on income. You are considered a resident only if you stay in Spain at least half the year (more than 183 days).

In spite of your status as a resident, if purchased a house in Spain there is a requirement to pay for the taxes, such as municipal and rental income taxes.

If you are not a full-time resident, you are required to pay 24.75% on rental income or any other income that you earn in Spain.