In this blog, you will read everything there is to know about the Golden Visa. In short, a Golden Visa is an investment residence visa in Spain.
What is a Golden Visa?
- A Golden Visa is a VISA for non-Europeans that grants residency in Spain
- A Golden Visa allows you to travel freely in and out of Spain
- A Golden Visa allows you to stay in Spain for as long as you like. It is no longer limited to 90 days/half year
- You can apply for a Golden Visa when you invest 500.000€ or more in a property in Spain
- A Golden Visa will grant residency to the applicant and family to live and work in Spain as long as they invest substantial capital in the country
To read all the specifics about the Golden Visa, please refer to the details stated in the law: Ley 14/2013, de 27 de septiembre. We advise you to contact your legal representative to review the possibilities and consequences of your specific situation.
The law is applicable for non-EU residents, not residing in a tax haven, who by accreditation can certify to have invested a minimum of 500.000€. Once granted the applicant will have to reside in Spain for a minimum of 1 year.
What are the requirements for a Golden Visa?
There are some requirements you need to be aware of before you apply for the Golden Visa; they are the following. The applicant:
- Is no illegal resident in Spain
- Is aged 18 or over
- Has no criminal record in Spain or other countries of residence during the previous five years
- Is not liable to refusal of entry into countries with which Spain holds an agreement to this effect
- Has own medical insurance. The insurance must be valid in Spain
- Has sufficient funds to support both the applicant and his/her family members during the residency in Spain
- Will pay for the application fee
- Has been in Spain at least once during the period of authorisation
- Provides proof to be the owner of the property purchased
- Complies with all tax and Social Security obligations
The initial Investor Residency Permit will be valid for two years. After this period, you have to apply for a renewal of Residency.
There are specialized companies that help you to request this. Your legal advisor can guide you in the right direction.
Wealth tax in Andalusia
On September 21st of 2022, the Junta de Andalucía decided to abolish the wealth tax. Naturally, this is incredibly exciting news for residents and second homeowners. Read more about the subject in our blog here.
Danielle Ernstsen | 14th December 2022
