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    Published on: 15/03/2016 19:38:00

    The Golden Visa – Spain's Residency Visa

    The Golden Visa – Spain's Residency Visa | Ella Investment Property

    During 2013 the Spanish government opened the so called "Spanish Golden Visa" scheme, offering investors the opportunity to gain a Spanish residency Visa for a €500,000 cash investment in Spanish property.

    We have listed the basic requirements below, but please feel free to speak to our legal team for full details of this scheme, or alternatively our sales team can assist in suggesting particular properties that will a) gain you a Spanish Residency Visa, b) offer a very good return on investment, and c) offer you the opportunity to base your family in Marbella, Estepona or Benahavis, the jewel in the Southern Coast of Spain's crown.

    There is a difference between Residency and Citizenship by investment in Spain. The Visa scheme gives automatic residency to anyone investing over €500,000 (cash, no mortgage) in a Spanish property. This gives you the right to reside in Spain and travel freely within the Schengen Zone, consisting of 26 European countries, but you will not be able to work or gain benefits that the Spanish state offers.

    You do not have to reside in Spain (and although we guarantee you will love it here, the minimum stay is only 1 day per year!), however your immediate family can reside here and attend (private) School or University (the Residency Visa covers immediate family members and Children under the age of 18 (this will likely be increased to the age of 25 during 2015).

    Citizenship grants a person the same rights as any Spanish national. So after 5 years of a successful Residency Visa term you can convert the Visa for a further 5 years of residency, after which you can apply for full citizenship (subject to certain conditions being met). If the application is successful then a Spanish Passport will also be issued.

    Requirements for application:

    - Minimum investment of 500.000.00 EUR

    - Must have Spanish private medical insurance

    - Proof of ability to support family and properties in Spain

    - Clean criminal record

    The benefits:

    You have the possibility to reside in Spain

    -  Minimum required stay in Spain is only 1 day per year, so there is no obligation to reside in Spain

    -  Free travel within the Schengen zone

    -  Possibility to convert to permanent residency after 5 years (subject to certain conditions being met)

    -  If Golden Visa is granted to head of a family, family members can also have residency (subject to certain conditions being met)

    -  No obligation to become FISCAL resident in Spain

    -  Possibility to purchase through non-resident company (subject to certain conditions being met)

     

     

     


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