This article is written by local lawyer Martin Hayes.
Martin Hayes of SWAN Partners is an expert in Real Estate Law and has extensive experience in counselling foreign investors regarding property and visa matters.
Can Found Valencia assist with my Golden Visa application and property search?
Yes, we can. Please contact us using the form we have on this page.
What is a Spanish Golden Visa?
This is a special residency programme aimed at encouraging investment in Spain.
What does the Golden Visa Give You?
If you are granted a Spanish Golden Visa you can live and work in Spain. In addition, you can travel freely throughout the Schengen area.
Who benefits under the Spanish Golden Visa?
The benefits of the Golden Visa are shared with his or her spouse, dependent children. The benefits can also be extended to dependent parents.
Can I get a Spanish Golden Visa by Investing in Property?
Yes, if you invest €500,000 in Spanish property you can apply for a Golden Visa.
Does the investment have to be in just one property?
No, you can invest in several properties once the total amount, net of all tax and charges amounts to €500,000.
If I get a mortgage, can I apply for a Golden Visa?
Yes, but you must invest €500,000, net of tax and charges, of your own funds in the investment.
Apart from the €500,000 do I need anything else to apply for the Golden Visa?
Yes, you have to show that you have no criminal record in any country you have lived in the last five years. It is also essential that you have not been excluded from any Schengen country and that you have entered Spain legally. Golden Visa applicants will have to show that they have comprehensive health cover in Spain and that they have enough funds to sustain themselves and their dependents in Spain. A tax clearance from your home country may also be required.
Can I buy and sell properties during the period I hold a Golden Visa?
Yes, once as long as you maintain your minimum investment of €500,000.
What period is the Golden Visa Issued for?
Once the Visa is granted, it is valid for two years and is renewable for periods of five years successively, as long as the above requirements are still met and remain in place.
Do I have to stay a certain number of days every year in order to keep my Golden Visa?
No, unlike the non-lucrative visa, you do not have to say a minimum number of days in order to renew your Golden Visa.
Does having a Spanish Golden Visa affect my Tax Residency Status?
No, the Golden Visa will not of itself affect your fiscal status as you are not mandated to stay in Spain for a minimum period each year. Whereas the non-lucrative visa requires you to stay 183 days a year in Spain each year, the Golden Visa does not require you to spend a set number of days here. It is essential that you get tax advice to ensure that you are clear on all factors that may affect your tax residency.
Can I apply to become a Spanish citizen?
Yes – Although different rules apply to this process, permanent residency can be granted after five years and citizenship after ten respectively, if the correct steps are followed.