The Golden Visa is a residence permit that is granted to foreigners who make an investment in a country, with the aim of attracting foreign capital and promoting economic growth. In Spain, this type of visa has become a very popular option for those looking to invest in real estate and obtain residency in the country.
Requirements to obtain the Golden Visa in Spain:
To obtain the Golden Visa in Spain, a series of requirements must be met, which vary according to the type of investment made. In the case of investment in real estate, a minimum investment of 500,000 euros is required. In addition, the following requirements must be met:
Documentation: Applicants must present a series of documents, such as a valid passport, criminal record certificate and an investment certificate issued by the Property Registry.
Investment: The applicant must demonstrate that they have made an investment in a real estate property for a minimum value of 500,000 euros. This investment can be in one or several properties.
Financing: In the event that the investment has been financed by a bank, a certificate from the entity must be presented indicating that the entity has granted the financing.
Medical insurance: The applicant must have a valid medical insurance in Spain.
Not having a criminal record: The applicant must not have a criminal record in Spain or in any other country in which they have resided during the last 5 years.
Financial resources: The applicant must demonstrate that they have sufficient financial resources to support themselves during their stay in Spain.
Next, we present some things that you should take into account before applying for the Golden Visa in Spain:
Additional costs: In addition to investing in real estate, obtaining the Golden Visa may entail other costs, such as paying taxes, hiring lawyers or managers, and obtaining additional documents.
Permanence in Spain: The Golden Visa does not guarantee permanent residence in Spain, but must be renewed every two years. In order to renew it, it is necessary to spend a minimum of 183 days in Spain during each two-year period.
Taxes: When acquiring a property in Spain, a series of taxes must be paid, such as the Property Transfer Tax and the Real Estate Tax. It is important to take these costs into account when making the investment.
Rental: In case the applicant decides to rent the acquired property to earn income, it is important to know the rental laws and regulations in Spain.
The Golden Visa is an interesting option for those looking to invest in real estate in Spain and obtain residence in the country. However, it is important to know the requirements and costs associated with obtaining a visa, as well as the obligations that residency in Spain entails. If you are about to obtain the Golden visa, or want to know all the details in depth, contact our team of professionals.
Make the right move