The Spain Golden Visa by Investment program is very popular among investors who want to reside in Spain or simply maintain residency in one of the most important countries in Europe and the Schengen area with the opportunity to obtain Spanish citizenship as well.
The Spanish government launched the Golden Residency by Investment program in 2013, and this program includes all foreign nationalities except those of European Union countries such as French, German, and Danish nationalities in a move to promote foreign investment in the country and attract the attention of foreign visitors to the possibility of investing and residing in Spain at the same time.
What is the Golden Visa of Spain? Is it the same as the Golden Residency in Spain? Does buying a house in Spain give residency? How do I get permanent residency in Spain by buying a property? All the answers to these questions and more can be found in this article...
First, what is the Spain Golden Visa?
The Golden Visa for Spain is a residence permit granted to non-EU investors who wish to invest in Spain, whether by buying a property in Spain, investing in Spanish companies, or making large investments in the country.
The Golden Visa is a permit for the investor and his family members to enter Spain, and this visa is later converted into Golden Residency after entering Spain, which grants residency to the investor and his family members and provides the right to reside, work and study in Spain.
Secondly, how do you get a Spain Golden Visa?
According to Spanish law, in order for an investor to be eligible for Spanish Golden Residency, one of the following conditions must be met:
1- Buying a property or group of properties in Spain with a value of at least 500 thousand euros, provided that the full amount is paid in full.
2. Investing in Spanish public debt with a minimum value of €2 million.
3- Invest in shares of Spanish companies with a minimum value of €1 million
4- Deposit at least 1 million dollars in a Spanish bank as well.
Third, what are the requirements for a Spain Golden Visa?
In order to obtain a Golden Visa for Spain, a foreign investor must be:
- Is of legal age (+18 years old).
- Has a valid health insurance in Spain.
- Have no criminal record.
- Not have been previously rejected for a Schengen Visa, i.e. a visa to enter any country within the European Union.
Fourth, is the investor's family also eligible for the Spain Golden Visa?
A foreign investor wishing to obtain a Golden Visa in Spain is entitled to include their family members, including spouse, children under the age of 18, adults with special health or mental health conditions, and elderly dependents.
Fifth, apply for golden residency in Spain:
In order to apply for the Golden Visa for Spain, the investor must provide the following documents:
- Spain visa application form.
- Two passport-sized biometric photographs.
- A valid passport with at least two blank pages.
- If the investor is not a citizen of the country in which he or she lives, a residence permit is required.
- Proof of sufficient financial resources for the entire period of residence in Spain.
- A certificate of good behavior proving that the investor has no criminal record and must be issued within three months prior to submitting the residency applicationa.
- Health insurance (private or public) from an insurance company operating in Spain.
- Proof of payment of the visa fee.
- Translation of the documents and evidence submitted into Spanish by a sworn interpreter.
- Additional documents related to the investment made by the investor in Spain (investment or purchase of real estate)
Sixth, what paperwork is required to apply for a Spain Golden Visa when buying a property in Spain?
In addition to the aforementioned documents, you will need to bring:
- The title deed of the property issued by the Land Registry Department within three months prior to submitting the application.
- Proof of payment of the full amount of the property's value (the property must be worth €500 thousand or more).
If the property has not been registered at the Land Registry Department, the investor can provide proof that the property has been registered along with the payment receipt.
If the sale is not fully finalized, the investor (buyer) can submit the sales contract with the receipt of the first payment (the agreed deposit) and a bank statement proving the availability of the required funds (the value of the property) in the investor's bank account.
Seventh, does buying a property in Marbella for 500,000 euros qualify for a Spanish Golden Visa?
Yes, buying a property in Marbella or any city in Spain entitles you to a Spain Golden Visa directly, provided the property is valued at €500,000 and above.
Eighth, can golden residency be converted to permanent residency?
Yes, a foreign investor with a Spain Golden Visa can convert the Golden Visa to permanent residency after five years and can obtain Spanish citizenship after residing in Spain for ten years (requires residing in the country for at least 6 months of each year for ten years) and requires knowledge of the Spanish language.
Ninth, what are the advantages of having a golden residency in Spain?
Golden residency in Spain has many advantages that attract foreign investors towards investing in Spain, most notably:
- Visa-free travel to all countries in the Schengen area, which consists of 26 countries such as France, Germany, Switzerland, and Norway.
- Easily convert golden residency to permanent residency after 5 years.
- Easy access to Spanish citizenship after 10 years.
- The right for the investor's family members to obtain golden residency.
- Enjoy access to all public services such as healthcare and education.
- The freedom to work and live in Spain legally.
- You do not need to live in Spain in order to renew your residency.
- Profitable real estate investments that provide high returns through rentals.
Tenth, can you apply for a Spain Golden Visa if you have a loan?
No, it is not possible to apply for a Golden Visa for Spain if the investor got the money through a loan. The investor must make the investment from their own funds and be the sole owner of the investment.
If you buy a property worth more than €500,000, you can get a loan for the amount that exceeds €500,000.
Eleventh, should the investment or real estate be held for life?
No, once the investor has obtained permanent residency in Spain or Spanish citizenship, they have the right to sell or keep the property.
Finally, how long is the golden residency in Spain valid for?
Gold residency in Spain is granted for two years, renewable for five years as long as the investment is maintained and However, you must travel to Spain during renewal. Golden residency can be converted to permanent residency after five years of residency in Spain (you must reside in the country for at least 6 months of each year for five years).
The Spain Golden Visa by Investment program is one of the most successful investment programs in the world due to the many advantages the Spanish government provides to the investor and his family.
We, Maxist Homes real estate company, offer you our extensive knowledge and experience in the field of real estate and real estate investment in Spain in particular and help you access the most luxurious villas for sale in Marbella Spain and the finest apartments for sale in and around Marbella, which ensures that you get a profitable real estate investment and ensures that you and your family win the golden residency, which also entitles you to obtain Spanish citizenship later.
If you are looking for an investment opportunity or to buy a wonderful apartment to live in Spain, Maxisthomes offers you the perfect opportunity to discover a variety of properties available in Marbella and benefit from its special appeal. For more information, please leave your question here and contact our team via WhatsApp at the following link : https://wa.me/message/747GSLD5K2SPC1
📌After the cancellation of Spain's golden residency program, the search for strong European alternatives has become even more important. Check out our article on Greece's program:
Golden Residency in Greece - the best alternative after the cancellation of Spain's program
