The new Law approved on September 27th, 2013 by the Spanish government aims to attract foreign investment to Spain, allowing the granting of visas and residence permits for non-EU citizens who invest more than 500,000 euros in real estate assets: The Golden Visa.
What are the conditions for the Golden Visa Investment?
- Investing 500,000 euros or more in the real estate market in Spain (tax-free).
- Investing in multiple properties or joint ownership is allowed.
- All types of property are allowed (residential, touristic, commercial, or industrial).
- The funds must come from a transparent source in accordance with the current legislation.
What are the requirements for the Golden Visa?
- Not having entered illegally or remained illegally in Spain, and not having been denied entry in any of the EU countries.
- Being a non-EU citizen.
- Must be legal of age (18 years old or more).
- No criminal records in Spain.
- Must have a valid public or private medical insurance in Spain.
- Proof of sufficient financial resources to support the applicant and his/her family during the residency in Spain.
What rights are granted with the Golden Visa?
- Apply for Spanish residency for all your family members.
- Travel freely in all EU countries (for a maximum period of 90 days every 180 days).
- Does not require a minimum period of stay in Spain.
- Visit Spain at least once during the validity of the visa.
- Rent freely the acquired properties.
- Have a tax residency outside of Spain.
How can I renew the Golden Visa?
- The visa’s initial duration is for 1 year.
- The visa can be renewed for 2 years if the investment is maintained.
- The maximum duration of the residency permit is 5 years. After this period, investors can apply for permanent residency in Spain.
We collaborate with local law firms specialized in obtaining the Golden Visa in Spain, and the NIE (Foreigner Identification Number), required for any real estate purchase in Spain as a foreigner.
If you are a UK citizen, you can find out if you are eligible to get the Golden Visa in Spain after Brexit.
If you are looking to invest or buy a property in Barcelona as a foreigner, Contact us and we will be happy to present you Our Services and see how we can help you with all these procedures to purchase a property in Spain.
[Related articles: How to obtain the Golden Visa in Spain after Brexit?]
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