Golden Visa for Spain
(Also known as Investor Residence Permit)
IMPORTANT UPDATE: 8 April. President Sanchez announces plans to scrap the Golden Visa for Spain. Further details to be posted. But our advice is not to delay and get the ball rolling now. Start by emailing admin@sun-lawyers.com and we will be happy to assist.
A €500,000 investment made in Spanish property can secure a Golden Visa also known as an Investor Residence Permit. For British citizens with the financial means, this may prove the most effective means of accessing Spain and the Schengen area on terms that they would recognise prior to Brexit.
Applications can be made at a Spanish Consulate in your country of origin where a 1-year visa will be issued. Or, apply in Spain (British citizens must not overstay their 90 day limit if choosing this path) where a 3-year residence permit is granted.
The benefit extends to your spouse/civil partner and other family members (with conditions) who like you will enjoy the same full rights to live and work in Spain and have total freedom of movement within the Schengen area.
The required paperwork
For the Golden Visa you will need to provide evidence that you have:
- Sufficient financial means to live in Spain for yourself and dependent family members during the period of the permit.
- Proof of healthcare in Spain.
- A clean criminal record from all of the countries you have lived in for the last two years AND a personal declaration from countries of residence for the last five years.
- Certificates to prove relationship/bond with spouse and dependents who are joined in the application. These need to be legalised and translated.
- Proof of the required investment e.g. property title deeds.
- If you are making the application for the three year investor permit in Spain you will need the stamp in your passport to show the entry date into the country and that you have not over-stayed the 90 day Schengen rule.
VIDEO: Everything you need to know about the Golden Visa for Spain
The support we provide:
- Free consultation to confirm eligibility & costs.
- The timing of the application and how it affects your tax position.
- Preparation & submission of the application paperwork
- Scheduling all appointments
- Responding to post-submission enquiries
- Supporting an appeal if required
Next steps.
If you would like to request a meeting with us by telephone, Zoom (or similar) or in-person if you are in Spain simply email us at admin@sun-lawyers.com
Golden Visa - Frequently Asked Questions
Does the 500,000€ or more property investment have to be the net sum i.e. minus any mortgage?
Yes
Does the 500,000€ property investment have to be in just one property?
No, it can be in any number of properties purchased after 2013 and registered in the same person’s name
Is the property element of Spain's Golden Visa going to be axed like in Portugal?
At this time (November 2023) there is no evidence of this, but nothing is forever. The generous conditions of the Golden Visa in Spain means that we are processing applications for clients now, even though they are not expecting to use the benefits it bestows on them for another couple of years.
Can I combine the property and investment elements together and still qualify?
No. The application can be made using only one of the categories solely, be it property, investments or purchasing public debt.
I purchased my property for just under 500,000€ but it is now worth more. Do I qualify?
The 500,000€ property investment is taken on the purchase price. Capital appreciation does not count. In this case you would need to purchase a second property, which combined with the first took you over the 500.000€ threshold.
With the Golden Visa is there a requirement to spend a certain number of days in Spain each year?
No. The only requirement is that for every year of the permit you make one trip to Spain and that trip should be a direct entry into, and direct exit out of Spain so that you can prove, via passport, stamps that this has taken place.
With the Golden Visa do I automatically become a Spanish Tax Resident?
No. You will only become a Spanish tax resident if you spend more 183 days or more in Spain within the Spanish fiscal tax year (which is the same as the calendar year).
What is the situation regarding getting a job in Spain with a Golden Visa
There is no restriction on working, whether employed or self-employed and the same goes for spouses/dependents on the same application.
Does the Golden Visa give me freedom of movement around the whole Schengen area?
Yes it does. Just a note of caution. Everyone has to be a tax resident of one country, whether their country of origin or another country like Spain. If you want to remain a tax resident of your country of origin, it is worth checking what the MINIMUM requirements are to maintain that status. 3 months in Spain followed by 3 in France, then Germany, then Italy, then back to Spain may cause issues.
