An Golden Visa for Spain, officially referred to by the Spain Investor visa, is an entry permit for non-EU citizens who have made substantial investments in Spain that includes buying real property, invest in a business or create job opportunities.
Who is eligible to apply for an Spain Golden Visa?
You can apply for the Spain Golden Visa if you satisfy the following criteria:
You can prove that you have taken advantage of an investment choice.
You are above 18, but not yet 18.
You can get health insurance valid in Spain.
You’re financially able to provide for yourself and family members.
You have a clean criminal record for any locations you’ve lived.
You’re not on Spain’s list of unwelcome people.
You do not have any Schengen Visas.
If you are eligible you can find legal counsel and Golden Visa experts willing to help you and guide through the entire procedure of getting a Golden Visa Spain.
How and when to apply to get The Golden Visa to Spain?
The process of applying after having made the necessary amount of funds in Spain. You must be committed to the purchase, but it’s not required to be completed. The deadline for you to apply for is three months prior to the date you plan to travel to Spain.
You are able to apply for an Spanish Golden visa from your country of residence by submitting your application to the Spanish consulate or embassy. You may also submit an application for a visa to Spain in the event that you are on a visa for a long stay.
Documents to be submitted when applying for the Spain Golden Visa
The documents you have to be able to include:
The Spanish long-stay Visa application form.
Two Spain passport photos.
Your valid passport. It should have been issued within the last 10 years.
Documentation of the residency country.
Evidence of investment. Documents that prove the nature and the amount of your investment, as and the place of origin of your investment.
Visas to Residency to acquire of Real Estate:
Certificate containing the information about the dominion and taxation that are a part of Land Registry, which corresponds to the property that was purchased.
Resident Visas to Capital Investors:
A copy of the statement of investment filed with the Register of Foreign Investments of the Ministry of Economy and Competitiveness when investing in shares of companies or unlisted shares.
Certificate of a financial intermediary properly certified by National Commission of the Stock Market or the Bank of Spain in case of investments in listed shares.
A document issued by an institution of finance or Bank of Spain, if the investment is in bonds issued by the government.
If it is the investment of a bank deposit an official certificate issued by the bank or financial institution.
Police Clearance. The document must be submitted in its original form, along with a photocopy and translated. It should not be older than 90 days as of the time of application.
You must prove that you have the resources to provide for yourself and your family members while you are living in Spain.
Medical Insurance purchased from an authorized Spanish supplier.
A medical certificatethat affirms that you don’t have any condition that is risky for public health.
How do I apply for an Spain Golden Visa?
In order to apply for the Golden Visa for Spain you have to go through the following steps:
Select one of the investment choices. You might have to visit Spain using the regular Spain Visa at this point to complete your investment.
Apply for the Golden Visa. It is recommended to submit your application at the closest Spanish Embassy within three months after investing. You can submit your application yourself or through a representative of a legal entity.
The application must be submitted along with the document.
You must obtain your Residence Permit. When you’ve received the Spain Golden Visa You need to visit Spain to exchange the visa to obtain the Residence Permit and provide your biometric data.
What are the advantages of the Spanish Golden Visa?
The benefits that come with this Spanish Golden Visa are:
Your family members and you will be issued Residence Permits which allow you to reside in Spain.
Family members of yours can travel to any of the Schengen Zone nations visa free up to 90 days within the span of 180 days.
There is no requirement to be a resident of Spain for the renewal of your Golden Visa.
If you are a resident of Spain then you are eligible to become permanent residents after five years.
It is possible to make an application to apply for Spanish citizenship after 10 years of living in Spain.
Family members of yours and you are able to benefit from Spain’s education and health system.
Take note that if you plan to travel internationally while living in Spain it is recommended to check the options for travel insurance.
Can I bring family members with me?
Include your family members on your application:
Your spouse
Your minor children who are not married (under 18) and any adult children that are dependent.
Senior parents who depend on them.
How Do I Get to Stay in Spain with the Golden Visa?
This Spain Golden visa is initially valid for a year. After that, you are able to apply to convert the visa to an investor’s residence permit and receive a two-year in-valid residence permits.
For How Long is the Residence Permit granted?
The Residence Permit you get as a result of investing lasts for two years. It can be renewed for a period of two years indefinitely so long as you’ve kept the investment (in other terms, so long as you own the property you purchased).
If you choose to reside in Spain After the period of five years living in Spain with two-year Residence Permit then you may apply for a permanent Residence Permit.
What is the duration of The Spanish Golden Visa Residence Permit Given?
The Residence Permit that you get through The Golden Visa is valid for two years. It is then possible to renew it for an unlimited period of two years so long as you’ve kept the amount you invested (in terms of, as long as you own the property you purchased).
If you choose to reside in Spain and you are able to do so after the period of five years living there for five years, Spain and acquiring a 2 year Residence Permit then you may apply for a permanent Residence Permit.
What is the Maximum Time I Can Expect to Remain in Spain to renew my Residence Permit?
There aren’t any requirements for staying for renewing the Golden Visa Residence Permit. Only need to go to Spain for the time you have to renew.
If you plan in applying for permanent residency the requirement is that you live within Spain to a minimum of five consecutive years without interruption (at at least six months each year). If you are ever planning applying for Spanish citizenship, you must reside in Spain for at least 10 years.
Can I lose my Residence Permit?
If you are unable to prove that you’ve maintained an investment made Spain in the past, you could be denied the Golden Visa Residence Permit. For instance when you decide to sell your home or liquidate the investment.
Spain Residency through Residency Through Real Estate (Buying A Residence)
The most popular investment method to gain Spanish residency is by purchasing properties worth at minimum EUR500,000. It could be a single unit , or several units , which total half one million.
You need to prove that the ownership of the property or property through a document from the Spanish Land Registry, which specifies the amount of purchase.
The process of obtaining permanent residency in Spain
If your first residence permit is set expire, it is possible to apply for renewal. You will be granted another five years in Spain and repeatedly apply for the renewal of the residence permit in the event that you meet the requirements of your initial application.
In a bid to get Spain Citizenship through investing
An Spanish Golden Visa leads to the possibility of Spanish citizenship greater than other types of visas. That is why this program is often referred to as Spain Citizenship by Investment. It is possible to obtain Spanish passports after ten years in Spain by obtaining the Golden Visa, given that you meet the following requirements:
You’ve been within Spain minimum 183 days each year, over a period of 10 years.
You can speak Spanish at the very least at elementary levels.
You are familiar with the basics of Spanish culture and history.
You do not have any criminal convictions or outstanding debts in Spain.
Do nationals from former Spanish Colonies Get Citizenship Quicker?
If you’re from an earlier Spanish colony (one of the following countries) You can obtain Spanish citizenship as fast as two years of residency instead of ten years:
Argentina
Bolivia
Chile
Colombia
Costa Rica
Cuba
Dominican Republic
Ecuador
El Salvador
Guatemala
Honduras
Mexico
Panama
Paraguay
Peru
Philippines
Venezuela
If you’re from one of the mentioned countries, and you are granted the Golden Visa, then you are eligible to become an Spanish citizen in two years, provided you’ve visited Spain at least eight times in the timeframe.
Can I use a mortgage to get an Spanish Golden Visa?
There is no way to be eligible for the Golden Visa if you use the mortgage option to purchase an investment property in Spain or at the very least, not in the minimum amount. You need to pay at least EUR500,000 with your own money however, for any amount that is greater than the amount, you might be able to get a loan or mortgage.
Can I travel to Europe with an Spanish Golden Visa?
Yes you can. A Spain Golden Visa allows you and your family members to travel in the Schengen Zone visa-free for up to 90 days in the 180-day timeframe. However, countries outside of Schengen Europe have specific visa requirements for their citizens and therefore traveling for free isn’t always guaranteed.
Do I require Health Insurance Coverage for Spain?
Yes, it’s an essential requirement in the Golden Visa application process to get health insurance. All family members should have health insurance valid even if you do not want to move to Spain in any way.
What kind of health insurance Should I Get In Spain?
Residents of Spain have the right to the public healthcare insurance. However, in order to avail of the health system in Spain expats must work and be tax-paying in Spain because it is funded by tax payer funds.
If you are a holder of an Golden Visa, and you are not planning to reside in Spain it is necessary to purchase private health insurance with an insurance company that is authorized to be operating in Spain. If you intend to reside in Spain paying taxes you and your family members are able to take advantage of the country’s health system.
Spain Gold Visa and Taxes
If you’re not a full-time resident of Spain and you are not a full-time resident, then you don’t have to pay tax on income. It is considered that you are a resident only if you reside there at least half of the year (more than the 183-day limit).
But, regardless of your residency status, if you have bought a home in Spain however, you will still need to pay for the taxes including tax on rental and municipal income.
If you’re not a full-time residentof Spain, you must pay 24.75 percent on rental income as well as any other income earned in Spain.
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