Spain’s “Golden Visa” – Summary of Main Points
The official bulletin for the Spanish parliament for a change in the law to accommodate investor visas was issued the first week in July 2013 and passed into law in September 2013. These are the main points for investors looking to take advantage of the Spanish Golden Visa:
The limit is €500,000 for property.
It can be for multiple properties and properties can be rented out.
It must be cash, not mortgage finance. (except for any additional over €500,000)
There is no required date of purchase. Just that it is fairly recent. Therefore purchases now may qualify for the resident’s visa. (In reality it takes 3 months to complete a purchase in Spain anyway).
Investors will buy a property then apply. Applications for residency will only be denied in extreme cases. (for example a criminal record or laundered money).
Property can be owned through a company provided the applicant shows control of that company.
RESIDENCY VISA AND CITIZENSHIP
All immediate family will qualify. ie + spouse + children.
The visa lasts one year then apply for further two, then further two to ensure property is still retained. Then after five years can apply unlimited.
Citizenship and a Spanish passport can be applied for after 10 years.
LENGTH OF STAY
There is no minimum stay requirement. In fact family could reside and the main earner be overseas. Children could reside at university for example.
Multiple entry and re entry is allowed.
Travel is permitted throughout the Schengen area of Europe.
Please contact us for further details on +44 207 060 1475. We offer a full application service through our lawyers and we offer a full portfolio of properties in Spain on the following websites: