Spanish Golden Visa Programme
The Spanish Golden Visa Programme
Inspired by Golden Visa programmes in neighbouring European countries such as Portugal, Spain introduced their Golden Visa programme in late 2013 to help attract more buyers to the Spanish property market. The programme offers a European residency permit, which then leads onto full citizenship, in exchange for a property investment of over €500,000.
Any physical or legal non-EU resident is eligible for the programme, provided that they are over 18, hold no criminal record in Spain and are not already in Spain irregularly. Buyers domiciled in tax-havens are not eligible. Companies can also be used to purchase property, provided that the buyer is the principal shareholder.
A key requirement is that the €500,000 investment be paid in full, and that this figure is maintained throughout the residency process. Mortgages are available for any amount over the €500,000 investment threshold.
- Residency permits are available upon completion of the payment.
- Provided the process is successfully completed, applicants are eligible for full residency after five years, and citizenship after ten years.
- This is with the exception of Latin American nationals, who are eligible for a two-year residency fast-track to citizenship.
- To qualify for citizenship, applicants must be residents in Spain for a total of ten years – five years to obtain permanent residence and a further five for citizenship.
Key Benefits of the Spanish Golden Visa Programme
The key benefits of Spain’s golden visa programme for non-Eu nationals include:
- To be eligible for the the Golden Visa programme, applicants need only to visit Spain once in the first two years, and once in the consecutive three years. This means that investors can remain tax residents in another country, yet still have access to European residency.
- Applicants are entitled to 90 days of travel within the EU every six months.
- Applicants for the Golden Visa residency permit can receive work permits in Spain.
- Investors can now request reunification with both married and common law partners.
- The program also now covers the investor’s economically dependent children – including children over the age of 18 – and parents.
- Favourable tax treaties exist between Spain and other countries, enabling non-EU investors access to relief from double taxation and tax incentives similar to domestic property ownership. For more information, contact our specialist adviser.
The Process – 6 Steps to Citizenship
- Purchase a €500,000 property.
- Apply for one-year visa (renewal on year 3 and 5).
- Move to Spain where you may legally work.
- Maintaining the €500,000 threshold, reside in Spain for five years via your Golden Visa.
- After five years, apply for permanent residency. Once achieved, you can sell your investment.
- After ten years from the beginning of the process and as a registered Spanish resident, apply for Citizenship.
To find out more about the Spanish Golden Visa Programme, please contact us.