residence how to get gold visa Spain

Golden visa known as a residence permit for investors. This is one of the new opportunities to increase investment in Spain. Golden visa is aimed at attracting foreign capital by facilitating legal residence in Spain. According to article 63, the chapter on investors states that “non-resident foreigners who intend to enter Spain to make significant investments may apply for a residence visa or, depending on the circumstances, residence for investors”.

To obtain a gold visa, the investment must meet one of the following conditions:


  • Purchase shares of at least 1 million euros worth of shares of local enterprises.
  • Invest 2 million euros in government securities.
  • To implement in Spain a business project that carries a particular public interest.
  • The acquisition of real estate in the country which will be equal to or exceeds the amount of 500,000 euros.
  • To purchase a home you must have a NIE and a bank account in Spain.
  • Have public or private health insurance in Spain.
  • The imprisonment for entry in the state of the countries of the Schengen zone.
  • Requirements such as: be older than 18 years old, do not have a criminal record and have enough finances to ensure that they themselves and their families live in the country.

Spanish gold visa can be obtained under certain conditions. Among them:


- Real estate can be purchased not only by a private person, but also a legal one;

- At least 500,000 euros of the investor’s personal funds must be involved in the transaction;

- If the investor has sold the property, and in exchange has not purchased a new one on the territory of Spain, then he may be deprived of the previously received golden visa;

- The investor may dispose of the purchased property in its own discretion, but on condition that this does not contradict Spanish laws;

- A spouse and children of an investor can apply for a gold visa.


Advantages of the Golden Visa:

  • the opportunity to apply for permanent residence, and then for citizenship;
  • permission to reside and work in Spain is issued for two years and renewed over the next two years;
  • free movement within the Schengen area;
  • direct relatives of the investor can also apply for a residence permit in Spain.
  • the initial visa is valid for one year.

Costs and taxes:

The 500,000 euros that an investor spends on the purchase of real estate should be his own money, and not borrowed. The good news is that for this amount you can buy several objects. For example, you can buy an object for € 100,000 now, a year later, spend the same amount, and then buy a house worth € 300,000. And only in the amount of 500,000 you can safely apply for a golden visa. Taxes and other operating expenses are not included in the total amount of 500,000 euros. In addition, you must pay stamp duty, notary and registration fees when you purchase. When buying a new building you will have to pay VAT (usually 10%). On average, the cost of taxes, registration and legal fees plus notary services can increase the purchase price by about another 12%.


Note:

As practice shows, this simple at first glance procedure is long and requires a personal approach, the success of which depends on the qualifications and professionalism of lawyers. The site exclusiva.es provides you with the services of exceptional professionals who are responsible for working with investors who are seeking to obtain a residence permit in Spain. Just contact us by chat or call us if you have any questions.

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