Spain Golden Visa by Investment Program
The Spanish government has introduced a real estate investment program in 2013. Basically it was initiated to gain Spanish citizenship by acquiring Spanish Golden Visa. Although, Spanish Golden Visa is extremely flexible for the family as dependents. Similarly, It is one of the quickest processing visas and the processing fee by the government is affordable and convenient to follow. In addition, Spain is an ideal place for residency but acquiring a second passport has some strict restrictions. However, The highlight of this program is that investors will get the visa in 14 days once they make an investment of 500,000 Euros in real estate. Similarly, The main applicant and all the dependents will be eligible to live and work in Spain and to travel around the entire Schengen region.
Firstly, The main applicant can accommodate his/her spouse and children who are under the age of 18 as dependents.
Moreover, Children above 18 years and parents of the main applicant can be considered are dependents under certain conditions.
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Benefits of Spanish Golden Visa
- Firstly, The applicant can acquire a golden visa for 1 year along with Golden Residency Permit for more than 2 years with an additional 5 years of residency and renewal of visa after every five years.
- Secondly, the main applicant and dependents are allowed to live and work in Spain during their residence permit.
- Thirdly, The main applicant and dependents are allowed to travel to the Schengen region for three months every six months.
- In addition, there is a possibility for applicants and dependents to work outside Spain having the residence permit.
- Above all, Once the first five years period is over, a permit is extended for more than 5 years to manage the investment amount.
- In short, For the renewal of the Golden Visa, there is no compulsion to spend more than 182 days in Spain per year. Therefore, The applicant will remain a non-tax resident during their stay.
- Similarly, the applicants must be in Spain Legally to submit an application for Golden Residency.
- Moreover, The applicant is required to maintain the investment amount for the renewal of the residency permit.
- However, The main applicant is required to make an investment of amount €500K in any of the residential or commercial real estate properties. However, the applicant just need to maintain the amount once the residency permit is approved.
- Moreover, The main applicant as an investor can work through any company in Spain or any internationally recognized company with a shareholder of 51%.
Procedure and Initial Application
In conclusion, The first step for the main applicant is to explore the property buying options in Spain and start the process. Certainly, Once the purchased property gets the approval from Power of Attorney Spain and the transaction is completed, the process is done. Initially, A year golden visa will be allocated to the applicant which will be extended for two years and as long as the investment is maintained, renewal of Visa for 5 years becomes convenient.
|Government fees||€100 Per Applicant|
|Cost for Real Estate Completion||Stamp Duty: Varies from 6% to 10% of the completion price|
Land Registration and Notary Fee: €3,500
|Legal Processing Fee||Provided upon request|
|Government Fee for Renewal||€120 Per Applicant|