GOLDEN VISA SPAIN
Interested in acquiring the Golden Visa in Spain? Our Spanish golden visa program provides a real estate investment pathway to secure residency in Spain. Established since September 2013, this program offers flexibility for families seeking residency options, yet its route to citizenship is more restrictive. With low government fees and a swift process, it’s perfect for residency seekers, though less suited for those seeking a second passport.
Investment
To qualify for the Spanish Golden Visa, you need to invest €500,000 in real estate in Spain. These properties, whether residential or commercial, are viable for rental income. You can meet the minimum investment threshold by pooling any number of properties. Joint buyers have the option to consolidate their investments into a single property. Additionally, mortgages are permissible for investments exceeding the minimum requirement.
Process
The applicant must commit to the investment before applying for the Golden Visa. Once a sales contract is signed, an application can be submitted, but the funds must be available in a Spanish bank account. The visa application process typically takes only 10 – 15 days and grants a two-year visa if applied for within Spain, with the option to renew for an additional five years, provided the investment is maintained.
Our recommended lawyers can handle the application, conveyancing, and legal aspects of property acquisition. The process typically involves an initial consultation followed by a 3 or 4-day visit to Spain to view properties, meet with lawyers, and open a bank account. Golden visa applications can be submitted within Spain or at a consulate abroad. Learn more about the Spanish Golden Visa process.
Requirements
In addition to the real estate investment, Golden Visa applicants must have a clean criminal record, adequate medical insurance, and financial means to support their stay in Spain. They must also have no history of visa refusals or entry denials to the Schengen zone. Meeting these criteria ensures eligibility for the Golden Visa in Spain.
Fees and Taxes
Processing the Golden Visa involves lawyer fees, typically around €8,000 for a family application, plus a government processing fee of €70 per applicant. When buying real estate in Spain, investors should budget for additional expenses, including taxes, stamp duty, and fees totaling around 11-12% of the property purchase price. VAT (IVA) is the main component, along with conveyancing fees, which are typically around 1.0% of the purchase price.
Residents in Spain for over 183 days in a year are taxed on their worldwide income. Non-residents are taxed at 24.75% on income earned in Spain, such as rental income, with possible reductions for expenses. Capital gains tax (CGT) applies to property sales, starting at 24% and increasing to 27% for gains over €50,000, with allowances and deductions available. Annual property taxes, typically €200 – €400 per year for an apartment, are payable to the local authority
Family Living and Working
Qualifying family members for the Golden Visa in Spain include the spouse and all children under 18 years old. Additionally, children who are 18 and over, as well as dependent parents, can also qualify. Applicants intending to reside full-time in Spain are required to have medical insurance. However, families have access to all public services, including state medical care and schooling. State schooling in Spain follows the Spanish curriculum, but there are also numerous English international schools available.
Travel and Spanish Citizenship
The Spanish residence permit obtained through the golden visa program grants freedom of travel within the EU Schengen zone.
After residing in Spain for five years, individuals can apply for permanent residency, provided they have spent more than six months in the country each year. Citizenship in Spain becomes eligible for application after 10 years. However, applicants must have maintained residency throughout this period to qualify for citizenship and a Spanish passport. Once individuals obtain permanent residency or citizenship, they are not required to renew their golden visa, allowing them the freedom to dispose of their investment.
Why should you choose MK Estate to show you your dream property in Spain?
COMPLETE SOLUTIONS
Buying a house is, for many people the biggest investment you make in your life. If you’re looking to buy a property in Spain, let us do all the heavy lifting for you.
PROPERTIES IN SPAIN
With an extensive portfolio that ranges the whole of the Costa Del Sol, we’ve 100% guaranteed to have the perfect home you’ve always been looking for.
LIST YOUR PROPERTY
As one of the Costa del Sol’s leading agents, you won’t find anyone with as much experience as us when it comes to advising you on how to sell your residence in Spain.
How do I get a Golden Visa?
01.
You come to Spain with your travel visa with the intention of looking for a property.
03.
If your golden visa application is accepted, you will receive a visa for one year. As opposed to other visas, the golden visa application can be presented while you are in Spain.
02.
Once the pre-agreement contract is signed and corresponding funds are deposited, you can apply for the golden visa. If needed, the authorities can grant you a permit for six months so you can complete the process of buying your property.
04.
After receiving your golden visa, you can keep renewing the visa, as long as you do not sell your property.