Golden Visa Spain
What is Golden Visa?
Since 2013, the Spanish government has decided to grant the Spanish Golden Visa to wealthy individuals with the ability to invest in the country, and announced six different investment options. Each person chooses one of these methods based on their assets and conditions, and then applies for a Golden Visa by proving their investment. One of the best investment options in Spain is purchasing property, which we will explain in detail.
Spain’s golden visa allows a person to obtain residency without being in Spain and does not require a language certificate. In addition, the law allows individuals to rent purchased property or return their investments after living in Spain for 10 years and obtain permanent residency. The applicant may also apply for Spanish citizenship from the Spanish government after completing permanent residency. Stay tuned to Zara Inversion for zero to one hundred ways to obtain the Golden Visa from Spain.
General conditions for obtaining a golden visa for Spain
There are several investment options in the Spain Golden Visa program. You can invest €500,000 in properties, €2 million in Spanish government bonds, or €1 million in shares of Spanish companies.
Aside from the financial requirements, the age limit is at least 18 years, and it is necessary to have private or government health insurance. Additionally, you must not have any criminal record on file.
Eligibility criteria for the Spain Golden Visa include the following:
- Age over 18 years for the principal applicant
- No illegal stay in Spain
- No criminal record of the applicant in the previous five years.
- Access to private medical services during your stay
- Demonstrate economic solvency and have the necessary capital to live on, even if you do not work in Spain.
- Not having specific diseases according to the 2005 regulations.
Financial conditions for obtaining Spanish residency through Golden Visa
The applicant for the Golden Visa for Spain must deposit the amount corresponding to a full year into a Spanish bank account to confirm their stay. For one person, this amount is €28,800, while a family of four will need to transfer €50,400 in 2023.
Family members can be included in the original applicant’s initial application. For example, a spouse whose marriage must be registered. There are very few requirements for the other family members.
All children under eighteen years old are eligible. Any child over eighteen is eligible if they are not married or are financially dependent on their family or original spouse. This also applies to parents. If they are financially dependent, the age limit is not considered.
Buying a property in Spain
As mentioned above, buying a property in Spain to obtain a Spanish Golden Visa is the easiest and most economical investment option you can choose. On the other hand, among the outstanding advantages of this option is the possibility of renting and eventually selling the purchased property. Buying a house in another country where you do not speak the official language may seem difficult and complicated. Don’t worry, we at Zara Inversion, with years of brilliant experience in buying property in Europe, especially in Spain, are here to help you buy the best property within your budget and Golden Visa rules. The following will explain in detail the purchase of a property in Spain.
Choosing a town in Spain to buy a property
You have the right to choose to buy a property in Spain, both in the choice of the city and in the choice of the property. The only thing you should consider in this case is to buy a property that is approved by the Spanish government for the Spanish Golden Visa. Of course, Zara Inversion ‘s team of property buying specialists in Spain will explain to you the advantages and disadvantages of the different cities, and finally you will decide in which city to buy a property. To contact our real estate agents in Spain, simply fill in the form below and our colleagues will contact you.
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Investing in bonds and stocks
Another way to obtain a Spanish Golden Visa is by purchasing relatively large amounts of Spanish Treasury bonds. Due to the financial security of this method, this option is very popular among applicants. Treasury bonds are backed by the government, representing a relatively safe investment that can offer competitive returns.
For this investment method, it is necessary to purchase at least 1 million euros in bonds. Of course, you can also buy and invest in Spanish companies or financial institutions with at least 1 million euros in shares.
Business development in Spain
The objective of this Spanish residency pathway is a greater direct investment and contribution to the country’s economy. If you choose this option; 1) You must create employment 2) Your investment must have a socio-economic impact on the country 3) You must contribute to scientific and technological innovations. The capital required for this option to receive a golden visa is at least 1 million euros.
Business projects in Spain and investment migration to Spain
Projects considered eligible for the Golden Visa from Spain must meet the following criteria:
- When it can be stated that the proposed project has an employment-generating engine.
- When the investment is expected to have a positive social or economic impact in the geographic area of the investment.
- When it shows a significant contribution to scientific or technological innovation.
Currently, there are more than 3,000 startups in Spain that are being invested in. You can also emigrate and invest in Spain in this way. But it should be noted that the government, with the aim of boosting these projects, has implemented tax changes that will benefit investment in these companies. This option requires special care due to complex legal procedures. Therefore, it is suggested to carry out the process with the help of a legal and professional representative.
Documents required to obtain residency through the Golden Visa program
In addition to the application form, certain documents are also required to apply for residency in Spain through the Golden Visa, which are mentioned below:
- Have a valid passport with a minimum validity of two years.
- A document confirming that you have sufficient funds to cover living expenses during your stay.
- A document certifying that you are covered by health insurance.
- A document issued by the relevant authorities confirming your children’s education (if applicable)
All these documents must be translated into Spanish.
Benefits of the Golden Resident Visa
The Spanish Golden Visa program offers a suitable and attractive option for individuals seeking to obtain residency in a foreign country. With ease of residency, travel benefits and possible tax benefits, the Golden Visa is a valuable opportunity for those looking to build a new life abroad.
Travel benefits
As a member of the European Union and the Schengen Area, Spain allows visa-free travel to many countries. Schengen countries include: Spain, Austria, Slovakia, Slovenia, Belgium, Malta, Poland, Lithuania, France, Hungary, Iceland, Luxembourg, Germany, Portugal, Latvia, Liechtenstein, Greece, Denmark, Estonia, Czech Republic, Italy, Finland, Netherlands. Norway, Sweden and Switzerland.
The Spain Golden Visa allows you and your family members to travel visa-free from the Schengen area for up to 90 days in a 180-day period. It should be noted that countries that are not part of the Schengen area announce their own conditions for granting visas to applicants. Therefore, it is not possible to travel free of charge to all European countries.
Education
The Spanish Golden Visa program includes the stay of your family. Many investors choose their plans with their children’s education in mind. As a member of the European Union, Spain offers a wide range of schools and universities that international students can take advantage of.
Retirement
There are many pension plans to choose from in the Spanish financial market and Spain is a great place to retire. People who reach retirement age and have the financial capital to invest in any of the above mentioned options will be able to acquire and enjoy Spanish residency. Of course, the culture of the Spanish people is one of the things that may be different from that of the Iranian people in many details.
Golden Visa Spain validity period
The initial validity of the Spanish Golden Visa is one year. Afterwards, you can apply to convert your visa into a residence permit for investors and obtain a residence permit valid for two years. The residence permit you receive through an investment is valid for two years. You can then renew it indefinitely every two years as long as you maintain the investment (in other words, as long as you continue to own the property you purchased).
If you want to reside and live in Spain, after five years of living in possession of a two-year residence permit, you can apply for permanent residence.
Extension of residence permit in Spain with golden visa
It is not necessary to reside in Spain to renew your Golden Visa residence permit; however, to apply for an extension, you must travel to this country. However, if you intend to apply for permanent residency, you must have lived in Spain for at least five uninterrupted years (at least six months per year). Also, keep in mind that in order to apply for Spanish citizenship you will need ten years of residence in this country. In fact, you can apply for citizenship after living in Spain for ten years.
Obtaining Spanish citizenship with a golden visa
The Golden Visa of Spain is an investment residency program that offers residency in Spain to investors. In fact, its basis is the migration of investments to Spain by entrepreneurs. This option is not a direct path to citizenship. However, if you receive your golden visa and decide to live in Spain, you may be eligible for citizenship after 10 years.
Currently, more than clear, there are certain criteria that must be met to obtain citizenship in the country; such as the renunciation of the original citizenship. That is why it will be useful to talk to professionals and lawyers before committing yourself.
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