It is possible to get a Spanish Golden Visa through a real estate Investment!
In September 2013, the Spanish government passed a law to encourage foreigners to invest for residency purposes, the Law 14/2013, of September 27th, to support entrepreneurs and internationalisation. This law allows for anyone purchasing a property in Spain investing 500.000 € or more to apply for a residency permit. The residency permit grants the right to reside and work in Spain, as well as travel in Europe for 90 days out of every 180 days (Schengen). These rights are also conferred to the close relatives of the applicant (mainly, spouse or stable couple partner and children).
Main requirements for Golden Visa
- The investment of 500.000€ or more must be realised in full and free of any charge or encumberment (payment of 500.000 € without using a bank loan or mortgage; any amount surpassing 500.000 € may be financed).
- In this regard, the applicant must present a certificate of ownership and charges issued by the Property Registry during the 90 days prior to the presentation of the application and the public deed of purchase. Should the registration with the Property Register be pending, a certificate of having presented the document of acquisition has to be presented and the visa will be issued for a duration of 6 months. After registration, the applicant can apply for the residency visa for one year, or directly for the authorisation of residency for two years.
- Proof of the payment of the applicable taxes (transmission and documented acts taxes) must also be provided, together with the applicable Property Registry certificate.
- Other documentation, of a more general nature, such as criminal records, proof of health insurance for the period of stay in Spain, or proof of kinship of the relatives with the applicant.
Timeline and Procedures for Spanish Golden Visa
In cases where the investor is not yet in Spain: the applicant must apply for an Investor Visa (that would last 1 year), at the Spanish Consulate or Embassy in their country of legal residence.
Within the validity of this initial Investor Visa, and at the latest, within 90 days after its expiration, a residence authorisation of 2 years must be applied for, and subsequent renewals would be 5 years long each. In order to qualify for the authorisation and the renewals, the minimum investment requirement must continue to be fulfilled.
In cases where the investor is already in Spain: The applicant can request the 2 years residence authorisation directly, without the need to apply for a visa in the country of origin. Afterwards, renewals of 5 years each must be requested, and to qualify for them, the minimum threshold of the investment must be maintained.
Golden Visa Options In Portugal
Are you a citizen from a third country and looking for a way to enter Europe? Don’t look any further than Portugal.
With the Golden Visa you will be able to move freely within the Schengen area like any other Portuguese; you will be allowed to work and life in Portugal, with the benefit of having your family with you, since they will be allowed to reside in Portugal as well.
For the Portuguese Golden Visa program, the applicant should investment in the following areas:
- Real Estate
- Capital Investment
- Job Creation
the most common type of investment among the Golden Visa investors. Real estate investments can start at € 350,000.00 (if certain circumstances are met), but are generally for properties with a value of at least € 500,000.00.
Capital Investment & Job Creation
As an alternative to Real Estate investment, it is also possible that the investor acquires share(s) in a fund worth EUR 350 000 or more. This fund should be an investment fund or venture capital fund dedicated to the capitalization of companies, 60% of the value of the investments of the fund shall be made in commercial companies based in Portuguese territory. We have increasingly seen funds being created to meet the needs of a wide variety of investors seeking Golden Visas.
Once the investment is made, investors could apply for the temporary residence permit valid for the period of one year, that can be renewed for successive periods of 2 years, as long as the investment is kept and some personal requirements are met. This permit can be extended to other family members (family reunification procedure), such as spouses and partners, ancestors, children from the couple or from the spouse.
After five years of legal residency, the investor can apply for the permanent residence permit. Additionally to permanent residency permit, after residing legally in Portugal for a period of 5 years, the person could apply for the Portuguese nationality, as long as some requirements are met, such as having a basic knowledge of Portuguese.
How can Lexidy help me?
At Lexidy we can assist you through all the steps of the application for the obtention of the Golden Visa through Real Estate Investment. Get a free consultation and see what we can do for you.