It looks set to be an interesting year in 2014 with Spain’s Golden Visa programme now live. There’s disappointment from many of our prospective clients that the investment limit was eventually set at €500,000 and not the €160,000 originally mentioned by the Spanish government. We launched our new website property visas spain to focus purely on properties over €500,000 or combinations of investment properties suitable for gaining the golden visa. The website covers all the key areas in Spain and it’s important for overseas investors to get initial advice as to where to buy and invest in Spain as everyone’s needs are different. Prices vary, types of property vary, climate and lifestyle is very different from cities to coastal regions. Choice will depend on your family, education, the language you speak (English/Spanish), universities, frequency of travel, European connections, business associations etc. Most real estate websites concentrate on their own town/region and international visa agents from your home countries will try to sell the most profitable product for them. So if you are thinking of investing for residency in Spain in the new year make sure you are talking to the right people and get the right independent advice from an international agent with extensive experience that covers all the areas Spain has to offer. Happy New Year!!
We have received a number of enquiries regarding the minimum stay requirement in Spain for the investor visa. Tax residency and citizenship in Spain are also questions that arise. In summary:
There is no minimum stay requirement. You can obtain the investor visa after completing on the property purchase(s) over €500,000. You do not need to spend time in Spain but you do need to be present (for a few days) to re-apply every two years.
You can keep renewing the investor visa if you retain the real estate investment. You can also apply for permanent residency. To do this you need to spend five years living in Spain. (ie over 6 months each year). Then you no longer need to retain the investment.
To apply for citizenship in Spain (and hence European citizenship allowing you to live and work anywhere in Europe) you need to demonstrate 10 years permanent residency.
You will not pay tax in Spain on worldwide income unless you are resident in Spain (ie live there more than six months a year).
Any questions please post below.