Spain Residency by Investment Program: Everything to Know
Want to move and live in Spain? It’s time to get a Golden visa now! The golden visa allows you to become a resident of Spain so that you can live, work, or make business there freely. But what are the requirements? Here’s everything you need to know about Spain residency by investment.
Everything You Need to Know About Spain Residency by Investment
What is the Golden Visa?
The Spain Residency by Investment Program, also known as Golden Visa, is offered to foreign investors who want to live in Spain as a resident. It expedites the process of obtaining a residency visa by investing at least € 500.000 in real estate.
Is It Permanent?
Yes, your permanent visa is permanent, provided your investment is in place. You need to renew your Spain residency by investment visa every two years. The good catch though is that the renewal process is easy as long as your investment is still intact.
You have to renew your permanent residency visa every two years. If you’re staying at least 6 months in Spain every year, you’re eligible to extend your visa with five years’ validity. After ten years, you can then apply for Spanish nationality.
Who Needs Spain Residency by Investment Visa?
The golden visa is designed for non-EU investors who want to avail of Spain’s residency visa. This is the easiest way to obtain free travel rights within the European Union region. Having a residency visa gives you the privilege to travel around Europe, as well as the Schengen zone whenever you want.
What About Taxes?
Obtaining Spain residency by investment visa makes you liable to tax. However, the great thing is that it usually depends on your length of stay. For example, you’ll be treated as a Spanish resident if you stay in the country for six months or more.
This means your income and worldwide assets will be taxed in Spain. If you’re only staying for less than half a year, you only need to pay taxes for the initial real estate purchase as well as the value of your assets in Spain.
The Requirements
To start applying for Spain residency by investment visa, you need to prepare the following:
- A Property Registry filing, OR notarized deeds, or any proof that the deed has been registered to Property Registry.
- A valid passport
- 2 pieces of photo
- Proof of financial capabilities or funding.
- A marriage certificate (if your spouse is applying too)
- Birth certificates for your children.
- Proof of valid medical insurance you availed in Spain.
- Proof that you have no criminal records.
You can also contact our professional immigration experts to guide you with your application.
How Long Does It Take?
Fortunately, the processing of Spain residency by investment or golden visa is relatively quick. The consulate can issue the residence visa within 10 working days, provided you submit all the necessary requirements and the Immigration approve your application.
You can then proceed to apply for a 2-year residency permit immediately. If not, you also have the option to use your permit for 1 year and re-apply when it expires. If you’re applying for a 2-year residence permit, the process takes 20 days.
Interested to apply for Spain residency by investment now? Our professional immigration experts are here to help you out! Don’t hesitate to contact us to guide you through the process as well as compiling your requirements.
We take pride in delivering the best services to make sure your application will be a breeze. Take this opportunity to start building your future after the pandemic. You can check out this page to know more about Spain’s golden visa now.
