Frequently Asked Questions (FAQ)
The following are questions frequently asked about the “Spanish Golden Visa” residency program. If you don’t find your answers, please CONTACT US at your convenience.
Q: What is the “Golden Visa”?
A: In September of 2013 Spain introduced a new type of visa and residence permit for investors known as the “Golden Visa”. The essential purpose of this new law is to facilitate foreign investments in Spain made by individuals that are not citizens of the European Union.
The Spain Golden Visa requires a EUR 500,000 minimum investment in real estate, or a 1 Million Euro asset transfer, or a 2 Million Euro securities investment, or the creation of a new government-approved business project in return for Spanish residency. After 10 years of residency the applicant may file for citizenship.
Q: What are the benefits of the “Golden Visa”?
A: The visa allows the successful applicant to travel freely and without restrictions along the “Schengen Area“ of Europe: Spain, France, Germany, Austria, Belgium, Denmark, Estonia, Finland, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Czech Republic, Liechtenstein, Luxemburg, Malta, Netherlands, Norway, Poland, Portugal, Slovenia, Slovakia, Sweden and Switzerland.
Applicants may file for Spanish/European citizenship after ten years of residency if desired. The Spanish citizenship further offers:
- Visa free travel to over 160 countries, including the USA
• Retirement in a safe country with a warm climate
• A better education for the applicant’s children
• A better quality of life for the family
• Personal security
• Tax advantages
• Freedom associated with having multiple passports
Q: What is the minimum investment required to obtain the “Golden Visa”?
A: The minimum investment in Spanish real estate is set by the Spanish Government at €500.000. The investment cannot be financed through a loan/mortgage – it must be a cash investment. Further, the investment must have been made after September 29, 2013 which is the date on which the law became effective. Real estate purchases prior to this date cannot be applied.
Alternatively, investors may select to create a business project in Spain, duly recognized as being of “general interest”, or invest in a minimum of €2.000.000 (two million euro) in Government bonds or transfer to Spain at least €1.000.000 (one million euro) in company shares or bank deposits. We also have investors who may be interested in your business project if capital is needed.
Q: Will the visa also include my family?
A: Yes, your spouse and children under 18 can be added at the same time as the initial application, or anytime thereafter.
Q: How long does the application process take?
A: The application takes no longer than 20 days, but the real estate investment must be made before the application is filed.
Q: What type of real estate can I invest in?
A: You are free to select whichever property you wish to purchase; residential, commercial or land. Your investment can be in one property or a portfolio of multiple properties if the minimum investment is met.
Q: Does the investment have to be in mainland Spain, or can I invest in real estate on one of the islands?
A: You may invest in property located on the mainland or any of the Balearic Islands of Mallorca, Menorca and Ibiza. Click here for a few example properties. (NOTA: HAY FOTOS EN LA OTRA PAGINA – menú opción #4).
Q: Can you help me find real estate in Spain?
A: Yes. We are associated with several licensed real estate agencies in Spain and would be happy to help you find your ideal property.
Q: Once I obtain the visa, do I need to move to Spain or live in Spain for a minimum number of days during the year?
A: No, you do not need to stay in the country for a minimum number of days. The residence visa is originally issued for one year. There are no minimum stay requirements during the initial one-year Golden Visa period.
After one year, the visa can be renewed for two successive periods of two years each, provided that the investment is maintained. You need only be in the country to renew the visa. You are free to use the visa to travel to any Schengen Area country, for any length of time. This makes the visa especially attractive to business people.
Q: Once I want to apply for permanent residency, and maybe citizenship, do I need to move to Spain or live in Spain for a minimum number of days during the year?
A: Yes. To apply for Spanish permanent residency, you must live in Spain at least six (6) months per year, for five years. If you would like to then apply for Spanish citizenship (and hence European citizenship which will allow you to live, work or study anywhere in Europe), you need to show a total of 10 years permanent residency.
Q: How long can I stay in Spain with my golden visa?
A: The residence visa for investors authorizes a stay in Spain for one year. Once this period has expired, one can request a residence authorization for a period of two years, renewable for two years more if you prove the maintenance of the investment.
Q: Does the Golden Visa authorize me to work?
A: Yes. The Golden Visa authorizes you to live and work in Spain. This results from the Fourth Additional Provision of the Law, which gives the right to live and work in Spain.
Q: Can I keep my tax residence outside Spain?
A: Yes. The holders of the permit can keep their tax residence outside Spain, if they stay in Spain for a period less than 183 days per year. Also, the residence permit can be renewed even with absences longer than six months per year.
Q: What does “Schengen Area” mean?
A: The Spanish visa allows you to travel without restrictions across the “Schengen Area” of the European Union. The Schengen Area is a group of 26 European countries that have abolished passport and immigration controls at their common borders. It functions as a single country for international travel purposes, with a common visa policy.
Q: After I am granted citizenship and receive a Spanish passport, will I be able to travel to my home country (for example, the United States) with my Spanish passport?
A: Yes. The Spanish passport will allow you to travel to the U.S. under the visa waiver program which allows citizens of participating countries to travel to the United States without a visa for stays of 90 days or less. Other countries depend on the laws of those countries.