Get the Golden Visa from Spain

Spain offers the Golden Visa or investor visa to individuals planning to make an economic investment in the country.

It grants a residence and work permit for 3 years (renewable for another 5), which can be applied for both from outside Spain (through the Consulate) and within the country (through the Large Business Unit – UGE – ).

golden visa spain

Non-resident foreigners in the European Union (EU) who make significant capital investments in Spain, including:

  • Spanish public debt: 2 million euros, or
  • Shares in Spanish companies: 1 million euros, or
  • Investment or venture capital funds established in Spain: 1 million euros, or
  • Property acquisition: €500,000.

BENEFITS OF THE GOLDEN VISA

  • Grants 3 years of residence, instead of just 1 as in most permits.
  • Authorizes you to work in Spain, both as an employee and as a self-employed person.
  • Allows free travel throughout the countries of the Schengen Area.
  • It involves an agile process with minimal bureaucracy.
  • You can extend the rights and benefits to your family members (partner and children under 21 years of age, who are studying or financially dependent on you).
  • To maintain the permit, it is only necessary to visit Spain for 1 day a year.
  • You are not required to personally manage the investor visa process in Spain; you can appoint a representative.

DISADVANTAGES

  • You must have comprehensive health coverage in Spain through insurance. If you’re unsure about which insurance may be suitable for you, feel free to ask us.

golden visa

PROPERTY ACQUISITION: THE BASICS YOU NEED TO KNOW

To obtain the Golden Visa through real estate investment, a minimum investment of €500,000 is required. This investment must be made before applying for the visa, and you must already be an investor in the country at the time of application.

The investment does not need to be in a single property; it can be spread across multiple properties as long as the total investment reaches €500,000. Additionally, the properties can be either newly constructed or second-hand.

For instance, you could purchase an apartment valued at €450,000 along with a parking space valued at €50,000.

You can also apply for an investor visa for properties already purchased, as long as the transaction took place after 2014.

It’s important to note that the investment amount does not cover taxes. Remember that there are additional costs associated with property purchases, including:

  • Value Added Tax (VAT).
  • Documented Legal Acts Tax.
  • Property transfer tax for second-hand properties.

Furthermore, bank financing cannot be relied upon for this investment; it must be made with your own funds. However, you can use a loan or similar for the remaining amount.

For example, if you purchase a property valued at €900,000, you must invest €500,000 with your own resources to obtain the Golden Visa. The remaining €400,000 can be financed through a mortgage.

golden visa spain

Finally, when investing, there are many additional aspects that you must take into account, such as: Is the property free of charges? Does it have the necessary authorization for habitation? Are the basic services operational (water, electricity, internet)? What amenities and organizations are available in the vicinity? If my goal is to rent out the property, what is the average rental rate in the area to ensure profitability?

At Tarragona Legal, we can assist you in addressing these and many other questions to ensure a safer and more informed purchase.

Do you need more information about us or the Golden Visa? Feel free to contact us.

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