Like many countries, Spain has an investor visa, also known as the Golden Visa. By investing in certain assets including property, foreigners can obtain residence in Spain and in the EU. This opens up interesting possibilities to non-EEA nationals that now include British citizens. And the visa is retroactive meaning that you can apply for it even if you invested several years ago. Read to discover your guide to the Spanish Golden Visa.
What is the Spanish Golden Visa?
Called the autorización de residencia para inversores in Spanish, the Spanish Golden Visa allows non-EEA nationals to have residency in Spain through investment.
What are the conditions for the Golden Visa?
You need to invest in one of the following:
Property investment – you must purchase a property or several properties, whose total value is at least €500,000. If more than one buyer purchases the property (e.g. if you and your spouse buy), the minimum amount must equal one of the buyer’s share in the property. Mortgages or loans do not count towards the total.
Financial investment– you must hold bank accounts or deposits worth at least €1 million, or investments in Spanish public debt worth at least €2 million or investment in Spanish company shares worth at least €1 million.
Business project investment– there is no minimum required investment, but the project must create jobs and have a relevant social and economic impact in the area or be of technological or scientific importance.
What are the benefits of the Golden Visa?
In return for making one of the above investments in Spain, you get a Spanish residence permit valid for one year. You may extend its validity for a further two years afterwards and then another two years, making a total of five.
The Spanish residence permit is also valid for the Schengen zone.
Do you have to live in Spain?
No, there are no minimum residence requirements during the first year of the visa’s validity. You may travel or live anywhere in the world for personal and/ or professional reasons.
Who can apply for the Golden Visa?
Any non-EEA national can apply for the Spanish Golden Visa.
Who can benefit from the Golden Visa?
As well as you, your dependents (spouse, children of any age as long as they are dependent on you and dependent parents).
What are the requirements for the Spanish Golden Visa?
As well as making the minimum investment requirements, you must satisfy the following conditions:
- Be at least 18.
- Have no criminal record in Spain or other countries you have lived in over the last five years.
- Have healthcare cover (state or private health insurance).
- Sufficient income for you to live from (and for your dependents as well, if applicable).
If I have already bought property in Spain, can I get this visa?
Yes, you can as long as you purchased after September 2013 and for at least €500,000.
What’s next after you get the visa?
You must apply for a residence permit within one year and prove that you still own your investment.
Useful residence permit for non-EEA nationals
At Andalusian Lawyers, we believe this is a viable option for non-EEA nationals seeking residency in Spain. It is particularly interesting to British buyers wishing to move to Spain post-Brexit who are looking to buy now or who have purchased property for at least €500,000 since September 2013.
If you’re planning to buy a property, download the Andalusian Lawyers free guide to Buying Property in Spain and get in touch for a no-obligation quote for our independent services that ensure you purchase with complete peace of mind and security.