Navigating Spain’s Golden Visa Program. The Spanish Golden Visa program offers the possibility of obtaining residency in Spain through an investment of €500,000 in real estate or qualified financial investments. Its aim is to attract entrepreneurs to Spain, investment in real estate and other qualifying financial assets.
If you are considering obtaining Spanish residency through investment, Del Canto Chambers can assist you with
- Initial assessment of your current situation.
- Legal guidance to determine the next steps.
- Application processing and follow-up.
- Renewal compliance.
The Golden Visa in Spain is a good first step towards Spanish permanent residency and allows travel within the Schengen area. Once obtained, Spanish residency permits access to all “Schengen” countries, including Austria, Belgium, Denmark, Finland, France, Germany, and Switzerland.
Requirements for the Spanish Golden Visa
- Investments in Spanish real estate worth €500,000 or more. The Spanish Government has announced that they would like to abolish this type of investment to apply for the Golden visa, however, but have not clarified anything about the amendment to the law or when they plan to do so. Therefore, as there must be a parliamentary procedure beforehand, it could take several months.
- Company shares, investment funds, or bank deposits worth over €1 million.
- Spanish treasury bonds of €2 million or more.
- Business projects deemed to be of general interest.
To be eligible, you must initially use at least €500,000 of your own funds for the investment, with no limit to debt financing beyond that threshold, such as obtaining a mortgage in Spain.
In addition to the investment amount, it is important to consider that approximately an additional 13% will be required for taxes and legal fees to complete the investment.
Del Canto Chambers offers comprehensive assistance to facilitate the Spanish Golden Visa application process, including project management, decision-making protocols, and timelines. We have supported numerous international entrepreneurs, investors, and high-net-worth individuals in moving to Spain, investing, or obtaining a second residency or citizenship.
If you are considering investment through the Golden Visa in Spain, it is essential to carefully select your investments, especially considering the current volatility in the property and stock markets. Del Canto Chambers’ legal and tax specialists can provide advice on investment valuation, maximise protection and tax efficiency, and ensure compliance with all tax obligations and legislation in Spain.
Since its introduction in 2013, the Golden Visa has been a popular option for investors in Spain. Del Canto Chambers’ lawyers have helped many clients gain residency benefits through this program. Their extensive experience has provided unique insights into this visa type, making the process easier, quicker, and often more cost-effective for clients.
Key aspects of the Spanish Golden Visa include
- A minimum investment of €500,000 in real estate, €1 million in shares or investment funds, or €2 million in Spanish public debt.
- Eligibility for the Golden Visa may extend to properties purchased in Spain after September 14, 2013, for at least €500,000, although individual cases require consideration.
- If applying through capital investment, assets must be acquired one year before application, while property investments qualify at any time if purchased after September 14, 2013.
- Applications can be made within Spain, which may be more cost-effective and efficient than applying through a Spanish consulate abroad.
- The visa allows for work in Spain, whether as self-employed or employed.
- Purchases made through a company may qualify, though additional paperwork and costs may be involved.
- Joint acquisitions with a spouse may qualify multiple individuals for the Golden Visa, including dependent children under 18, financially dependent adult children, and dependent parents.
Popular locations for the Spanish Golden Visa include Palma de Mallorca and Marbella, where the real estate markets are thriving, offering a variety of properties within the minimum investment threshold.
In summary, the Spanish Golden Visa presents an attractive opportunity for obtaining residency in Spain through a significant investment, and Del Canto Chambers provides comprehensive services to facilitate the process and ensure successful application.
Navigating Spain’s Golden Visa Program. Prepared by Sara Velasco. Sara is a senior lawyer with several years of experience assisting clients moving to Spain. Call her at +44 2070 430648 or contact us here, and we will get back to you within 24 hours.
