The Spanish Golden visa is a long-stay visa allowing non-Europeans to live in Spain indefinitely, as long as they maintain their investment during their stay. Officially known as the Spain Investor visa, the Golden visa allows its holders and their dependent family members to get Spanish residency.
Who is the Golden visa for?
The Spain Golden visa is a 2-year residence permit that explicitly allows non-European citizens to reside in Spain by investing.
The Spain Golden visa is perfect for you if you’re a high net worth individual
- Who wants to gain residency in Spain by investment.
- Who wants an easy way to move to Spain with their family at the same time.
- Who wants to retire in Spain.
- Who wants to reside in Spain without living there for more than 183 days.
- Who wants to gain Spanish citizenship.
- Who wants to live and work in Spain.
What are the benefits of applying for a Golden visa?
There’re many benefits of obtaining a Spain Golden visa:
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You’re allowed to maintain your residence permit in Spain even if you spend less than 183 days a year in Spain.
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With a Spain Golden visa, you can avoid paying income tax in Spain if you spend less than 183 days a year in Spain.
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If you live in Spain for more than 183 days, you can apply for permanent residence after 5 years and ultimately become a Spanish citizen.
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Unlike non-lucrative, student and work visas, you don’t have to live in Spain for an extended period to renew your Spanish residence permit. You only have to visit Spain once before your residence permit expires to request a renewal.
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You can bring your family to live with you in Spain.
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Spain Golden visa allows you and your family to work in Spain, enrol in educational institutions and benefit from Spanish health care.
The Spain Golden visa requirements
You’ve to meet the requirements below to obtain the Golden Spain visa:
- You’re 18 or older
- You‘re a non-EU national
- You don’t have a criminal record.
- You have private health insurance in Spain
- You have €2,316 per month to live in Spain
- You’ll make an investment of:
- €500,000 in 1 or multiple real estates,
- €2,000,000 in Spanish Government Bonds (public debt),
- €1,000,000 in bank deposits or shares of Spanish companies,
- €1,000,000 in a new business in Spain that improves the Spanish economy and creates employment opportunities
Documents required for Golden visa Spain
- Visa application form
- 2 passport photos
- Your passport
- Proof of investment ( a bank statement, certificate of the purchase etc.)
- Criminal record
- Proof of sufficient financial means
- Medical clearance
- Health insurance
- Proof of residence if you’re applying from Spain
How to apply for the Golden visa
Before starting your Golden visa application, you should commit to investing in Spain even though you don't have to finalize it.
If you don't want to travel to Spain to invest, then your power of attorney (POA) arranged through a Spanish consulate can do it for you.
You can apply at the Spanish consulate either from your country of residency or Spain if you have a long-stay visa.
Processing time for Golden visa
It takes approximately 2-3 months to prepare all the necessary documents for the application. After this, the processing time is 20 days. Once the Spanish authority approves your visa, you can collect it in 3 to 5 working days.
The process will look like this: 1. Invest in Spain. 2. Schedule a Golden visa appointment within 3 months of your investment at the consulate. 3. Submit the required documents. 4. Collect your visa. 5. Fly to Spain to submit your biometric data and collect your residence permit within a year.
How long can you stay in Spain with a Golden visa?
The Spain Golden visa is valid for 1 year. You’ve to travel to Spain during this time frame and then request your Foreign Identity Card.
Can I renew the Golden visa?
Yes, before the initial 2-year long residence permit expires, you can apply for renewal indefinitely as long as you maintain your initial investment in Spain.
Unlike most other visas, you don’t have to live in Spain the whole time to renew your visa. You only have to visit Spain once before your residence permit expires to request a renewal.
Can I change my Golden visa to a permanent one?
Yes, if you’ve lived in Spain uninterruptedly for 5 years, you can request a permanent residence permit.
That’s when you can let go of your investment. After living for 5 years with a permanent resident permit, you can request Spanish citizenship through naturalisation.
Can I get Spanish citizenship with a Golden visa?
You can either keep your investment level for 10 years and then directly apply for citizenship if you've lived in Spain for 183 days per year for 10 years. Or you can let go of your investment after 5 years, apply for permanent residence, and then Spanish citizenship.
Do you have to pay taxes in Spain with a Golden visa?
As a Spain Golden Visa holder, you’ll have 2 options regarding taxes in Spain. If you live in Spain:
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Less than 183 days in the year, you don’t become a tax resident in Spain. This means you only pay taxes on your Spanish income or savings. Also, you’ll pay 24% non-resident tax.
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More than 183 days in the year, you become a tax resident in Spain and are subject to income taxes on your worldwide income. The income tax varies between 9.5% and 22.5% in Spain.
Can I work with a Spanish Golden visa?
Yes, a Spain Golden visa allows you and your family members to work in Spain. To work in Spain, you’ve to legally reside in Spain for more than 6 months in a year.
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