You may have heard of the so called Golden Visa, an attractive opportunity for non-EU citizens thinking of investing in Spain.
In 2013, Spain passed the Investor’s Residency Law, popularly referred to as the ‘Golden Visa’ law, granting one-year residency for non-EU citizens investing €500,000 in Spain real estate. After the initial one-year period, investors can then apply for long-term residency.
Investors can travel to Spain initially on a tourist visa and subsequently request a residency permit from an embassy or consulate in Spain on complying with the conditions of the scheme. Once the visa is granted, the investor can buy and sell properties within the Spanish housing market as long as he or she maintains the €500,000 investment threshold that is required for the visa to then be renewed. The Golden Visa benefits the investor and his or her whole family, who will receive work permits as well as the right the reside in Spain.
This path can eventually lead to attaining full Spanish citizenship for the investor and their family after the initial one-year visa and subsequent two-year renewable residency permit.
To attain the initial Residency Visa, the investor must:
Investors can reside in Spain for up to one year on a Residency Visa, but if they wish to stay longer they can then apply for the Residency Permit. This will allow the investor to live in Spain for up to two years, then renewable every two years granted the original requirements of both the Residency Visa and Permit are still met. Eventually the investor can attain Spanish citizenship for them and their family.
To attain the ensuing Residency Permit, the investor must:
For investors outside of the EU, this is a lucrative opportunity to invest in a unique housing market whilst beginning the process of eventually attaining EU citizenship and thus the right to live and work anywhere within the EU.
House prices in Spain are still comparatively low to the rest of Europe but steadily increasing, ultimately bringing much added value to the original investment.
Here at Luxury Font we can help you find the right property to invest in and assist you with the Golden Visa process.
For more information on the Golden Visa you can consult Section 2, Chapter 2, on the official document from the official state bulletin or this guide from Spanish Property Insight.