Ever wanted to live the Spanish lifestyle? The Mediterranean climate, beautiful landscapes, developed infrastructure and more can become your everyday reality by investing in property to obtain a Spanish Golden Visa. The Golden Visa, also known as residency by investment, is a program that grants foreign citizens and their family’s immediate residency in Spain when they purchase a property to the value of 500,000€ or more.

But why would you want to invest in Spain instead of any other country that offers a residency by investment program? Official data showed that property sales in April 2021 in Spain surpassed 2019 levels, indicating that the housing market is not only recovering from last year’s fall but is even better than when the pandemic struck. While the Spanish property market slowed during the first pandemic shutdown, demand began to pick up after the restrictions were lifted. Despite COVID-19 and post-Brexit fears, international demand for Spanish property is on the rise in 2021.

There are also the unique benefits the Spanish Golden Visa has to offer, benefits that will want to make you hop on the next flight out!

 

What Are the Advantages of a Spanish Golden Visa?

Spain is an excellent choice for a second residency country, with warm weather, diverse and magnificent scenery, excellent local cuisine, and a culture that is well suited to outdoor-oriented countries. It’s also known for its technology and public transport sectors, making it a great site for people wishing to do business in Europe or set up a second base there. You can live, work, and study in Spain, as well as travel to 26 other European Union countries without a visa. Other benefits include:

• Dependents included:
  1. Spouse or common-law partner
  2. Dependent children
  3. Parents
• Member of the Schengen Area and the EU
• Right to live, work and study in Spain
• Pathways to obtaining Permanent Residency after 5 years of actual residence
• Pathways to obtaining Citizenship in Spain after 10 years of actual residence, or 2 years in case of former Spanish colony citizen
• High standard of education and healthcare system
• Visa-free travel within the Schengen Area
• No physical residency requirement
• No language requirement

 

Eligibility & Qualifying Criteria for a Spanish Golden Visa?

In most circumstances, Golden Visas are awarded to people who buy real estate in Spain. They are also known as Spain Investor Visas since they are offered to foreign businessmen who invest in a Spanish company. The Spanish Golden Visa Program offers a variety of investment opportunities. You can invest €500,000 in real estate, €2 million in Spanish government bonds, or €1 million in Spanish company shares. The real estate investment option can be approached in one of the following ways:

• Purchase one or multiple properties
• A mix of residential or commercial allowed
• Joint buyers can combine investments into one property (min EUR 500,000 each)
• The investment can be made through a majority-owned company (longer processing time)

 

In addition to the qualifying investment option, the following criteria apply to all applicants:

• You must be at least 18 years old
• Have a clean criminal background for at least 5 years
• Have a private or public health insurance policy
• You can show that you have enough money to live in Spain
• You haven’t been turned down for residency in other countries or in Spain

 

For How long is the Golden Visa in Spain Valid?

The Golden Visa you will be given at the Embassy will be valid for one year. During this year, you must enter Spain and exchange your visa for a two-year residence permit. As long as you retain your investment, the residence permit can be extended indefinitely without any stay limitations. Each time you need to renew your residence permit, you must fly to Spain. If you plan to stay in Spain permanently, you can apply for permanent residency after five years of continuous residence (at least six months out of the year).

How to Apply for the Spanish Golden Visa?

If you’ve made any of the aforementioned investments, you can apply for a visa at the nearest Spanish Embassy or Consulate. You must be committed to making the investment at the time of application, but the investment does not have to be completed.

You have the option of submitting the application directly or through an approved representative, such as Safcom Investments or an independent lawyer of your choice. You must have all the needed documentation with you when submitting your application for a Spanish golden visa.

You do not need to be in Spain to apply for the visa, but you will almost certainly need to visit there to complete your investment before applying. You must fly to Spain to obtain a residence permit once you have received your visa.

As dependents, your family members must apply for their own visas to enter Spain. Documentation proving family ties, such as birth and marriage certificates, must be included.

 

What documentation is required to apply?

• Passport valid for at least 1 year.
• Property registry filing and proof of the inclusion thereof in Property Registry
• Certified proof of clean criminal record.
• Proof of financial solvency.
• Two ID photographs
• Marriage Certificate (if lodging application for spouse as well).
• Birth Certificates of children under the age of 18.

 

Can I Get a Loan for the purchase of a property to obtain a Golden Visa?

No, you cannot apply for a Golden Visa in Spain if the funds were obtained through a loan. The initial investment must be made entirely with your own finances, and you must be the sole owner of the investment. If you buy a property that is worth more than €500,000, you can use loans and finance to cover the difference.

 

What happens to the Golden Visa if the investor wants to sell the property?

The Spanish Golden Visa is property-based, thus an investor who desires to sell the property before changing the residency permit into a Permanent Residency status in Spain – or becoming a citizen – should do so with caution. When the investor achieves either of these categories, they can sell the property without affecting their immigration status in Spain.

 

Spanish Golden Visa Made Easy with an Experienced Partner

Safcom Investments offers a variety of investment property, buy-to-let, and residency by investment property consulting services in Spain. We know that our clients confront a variety of issues, which is why we provide customized solutions to match their requirements. We provide a thorough start-to-finish property consulting service that looks at every aspect of each property search and acquisition through the eyes of the buyer. Every task at Safcom Investments is approached as if we were looking for an investment for ourselves.

Our customized solutions involve advising you, the customer, in choosing the right investment for your needs, as well as introducing you to our network of independent banks, lawyers, and accountants. Safcom Investments will be there for as long as you need us after the acquisition is done, introducing you to independent architects, builders, interior decorators, and property managers to complete your property investment adventure. We realize that a wise investment may offer you a solid financial return, improve your lifestyle, and provide you and your family with a well-planned retirement, and we want to be a part of it.

Download our Ultimate Guide to Buying Property in Spain for in-depth guidance on your property investment journey or book a complimentary call so we can discuss your investment needs.