At Just Law Solicitors we´ve posted about the Golden Visa in Spain many times. Briefly the Spanish Golden Visa is as follows.
The Golden Visa is a Spanish residency permit that is granted to non-European Union citizens who make a significant investment in Spain. The program was introduced in 2013 and is designed to attract foreign investment, boost the Spanish economy, and create job opportunities.
To be eligible for a Golden Visa in Spain, an individual must invest in one of the following categories:
- Real Estate Investment: a minimum investment of €500,000 in Spanish real estate (residential or commercial). The investment can be spread across multiple properties and even include parking spaces.
- Public Debt Investment: a minimum investment of €2 million in Spanish public debt.
- Capital Investment: a minimum investment of €1 million in Spanish companies or bank deposits.
- Business Project: a relevant, innovative, and viable business project that creates jobs or offers significant socio-economic impact in Spain.
Once the investment has been made, applicants can apply for a residency permit, which allows them to live and work in Spain. The permit is initially valid for two years and can be renewed every two years for a maximum of five years. After five years, the applicant can apply for permanent residency in Spain.
The benefits of the Golden Visa program in Spain include access to the country’s healthcare system and education system, the ability to travel within the Schengen zone, and a pathway to European citizenship. Additionally, there are no residency or visit requirements, meaning that recipients of the Golden Visa can maintain their primary residence outside of Spain.
However, it’s important to note that the Golden Visa program comes with certain requirements and costs, such as demonstrating the legal source of funds, the cost of application fees, taxes, and legal advice. You should always take advice from a Spanish lawyer. One of things to remember is that it may be beneficial to put the property in one name if you are married and are buying a house in Spain for 500,000 euros. Of course this is not legal advice and if you are buying a property or applying for a visa here in Spain take advice from your own independent Spanish lawyer.
A good site to look for property in Spain is http://www.idealista.com
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