SPANISH GOLDEN VISA

SPANISH GOLDEN VISA

SPANISH GOLDEN VISA

IIn September 2013, the Spanish government passed a law to encourage foreigners to invest for residency purposes. The new Spanish Golden Visa scheme allows anyone investing at least 500.000 Euros in a property in Spain to apply for a visa and/or residence authorisation. This visa grants them the right to reside and work anywhere in Spain and to travel throughout Schengen countries for 90 out of every 180 days.

THIS PERMIT OFFERS A LOT OF ADVANTAGES TO ITS HOLDERS. THE APPLICATION PROCESS IS A LOT FASTER AND PRIVILEGED. YOU CAN EITHER APPLY AT THE EMBASSY OR CONSULATE IN YOUR HOME COUNTRY OR ENTER SPAIN AND APPLY WHILE BEING HERE ON A SCHENGEN VISA OR ANY OTHER KIND OF VISA OR RESIDENCE PERMIT.

LEXIDY IS HERE FOR YOU TO ASSIST YOU EVERY STEP OF THE WAY. OUR REAL ESTATE DEPARTMENT CAN HELP YOU FIND A SUITABLE PROPERTY AND NAVIGATE THE PITFALLS OF THE SPANISH REAL ESTATE MARKET.

OUR IMMIGRATION DEPARTMENT IS HERE TO MAKE SURE THAT YOUR DOCUMENTS COMPLY WITH THE REQUIREMENTS AND CAN PRESENT YOUR APPLICATION DIGITALLY.

The following are the main characteristics and advantages of the Spanish Golden Visa:

01.

For the Spanish Golden Visa the purchase can be made by an individual or through a legal entity (a company as long as it is not domiciled in a tax haven) that is more than 50% owned by the individual but, in either case, the payment must be made in full and free of any charge up to the 500.000 EUR (without using a bank loan or mortgage).

02.

Tha main applicant and investor can be accompanied by their spouse and minor children.
There are situations where adult children or parents can accompany them, but the required dependency is strictly reviewed. Everyone must have health insurance coverage by an agency operating in Spain.

03.

The investor holding a Spanish Golden Visa does not need to reside in Spain or pass a certain amount of time here in order to maintain and renew it.

04.

The residency permit will be first issued as a visa that lasts one year. Afterwards, the authorisation can be applied for 2 more years, and once more for five years. With 5 years a residency permit can be applied for. For the renewals, the amount of the investment has to be sustained.

05.

You can apply for permanent residency after 5 years and for Spanish citizenship after 10 years, if you have actually resided in Spain during that time. 

06.

The Golden Visa allows you to travel to other Schengen countries for 90 out of a 180 days. 

07.

 The investment amount does not have to be upheld any longer, once permanent residency is obtained.

BASIC REQUIREMENTS FOR THE GOLDEN VISA BESIDES THE INVESTMENT:

  1. Applicant is a non-EU national

  2. Main applicant is at least 18 years old

  3. No criminal record (past 5 years)

  4. Not entered or stayed illegally in Spain

  5. Not rejectable in Schengen country

  6. The investor and their family must have health insurance by an insurance company authorised to provide services in Spain and provide proof that they dispose of sufficient financial resources to support themselves (the investment itself will not be considered when evaluating the sufficiency of the funds).

 

These are some of the key points and not a full legal guide to the investor visa. Each applicant should seek comprehensive advice on their personal circumstances through our team of expert lawyers. It is this personalised client approach, which is carefully adjusted depending on circumstances and backgrounds, which makes our clients’ applications so successful.

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