The Spanish Golden Visa Program is one of the most expensive and bureaucratic investor’s immigration schemes. However, I am sure, that it is the EU’s most profitable residency through investment solution of the immigration market. Spain is full of undervalued properties now. The total recovery of the Spanish real estate market will not take too much time. Although price increase is a very common trend in the EU, Spain still has plenty of cheap investments. The necessary amount of investment is more than enough to start a new business, buy castles, flats or any other type of property.
Cost of the Spanish Golden Visa Program
The minimum amount of investment through the Spanish Golden Visa Program (Autorización de residencia para inversores) is EUR 500,000. There are extra costs as the purchase tax, stamp duty, VAT, notary, lawyer and agency fees. These additional costs can add an additional 10-12% (or more) on top of the necessary amount of investment. You must invest in property, which can be literally anything, as real estate, land, factories.
You can invest in Spain for the residency permit through a foreign company if you can prove that you own the majority of the international firm.
The rules of the investment are quite flexible so that you can invest even borrowed money.
Benefits of the Spanish Golden Visa Program
- No contribution, the whole amount is investment
- The Spanish investor visa will be issued for the entire immediate family (spouse and children up to 18 years)
- No minimum stay requirement in Spain
- The applicant doesn’t have to become tax resident in Spain
- The resident can sell the property after five years
- The resident and his/her family can travel and stay anywhere in the European Union
Spanish citizenship and physical presence in Spain during the immigration process
As there is no law on minimum physical stay in Spain for the residents, the investors can pay their taxes elsewhere. However, the resident must be able to prove that he/she stayed or traveled in Spain. It means at least one occasion during the first two years of the residency and once more during the three subsequent years.
You can obtain the Spanish permanent resident status after five years. Then you can even sell the qualifying property. After another five years, the permanent resident can obtain the Spanish citizenship and passport.
Process of the Spanish Golden Visa Program
The applicant (You) should visit Spain to chose the right investment option. It is also possible to purchase real estate property with a power of attorney without the personal visit. However, my advice is to come and see what you are going to buy.
After the purchase, the attorney applies for the first one-year investor visa on your behalf. With this visa, you can travel freely inside the EU’s Schengen zone. The authorities issue this visa in Spanish Embassies and Consular Offices. This process takes a minimum of ten days.
After the first year, you can apply for the renewable residency permit for two years. This visa is renewable in each two years until you maintain the qualifying investment. It takes five years to became a permanent resident and more five years until the application for the Spanish citizenship.
Investments for the Spanish Golden Visa
Real estate property investments qualify for the Spanish Investor Golden Visa. The minimum threshold of the investment is EUR 500,000.
You can invest in:
- One or several properties,
- The properties can be of residential, commercial, rural, touristic, or industrial nature,
- It can be land (rural, developed, buildings under construction, or decrepit buildings)
Do you want to live in beautiful Spain? Contact me on firstname.lastname@example.org!
What can you buy for a half a million euros in Spain? (Practical examples)
Spanish property prices decreased very fast during the global financial crisis, and it takes some more years to recover the pre-crisis price levels entirely.
Now, I just try to show you some examples of Spanish properties up for sale. 500,000 euros is enough to buy:
Four little castles like this, with sea and mountain view
Five one-bedroom flats in Benidorm or Villajoiosa with this view:
Does it worth to invest in Spain?
The total number of tourists visited Spain in 2016 exceeded 70 million. Spain is the most affordable and secure tourist destination now with the most profitable property investment projects. The Golden Visa Program of Spain is becoming more attractive.