Since the end of 2013 a purchase by the own funds of a property of 500.000 euros or more (it can be one property or several properties for a total purchase price of at least 500.000 euros) gives a right to receive a spanish residency automatically. This type of visa is known as a SPANISH GOLDEN VISA or SPANISH INVESTMENT VISA.
To obtain this visa the applicant must fulfil the following requirements:
- not to have entered or stayed illegally in Spain.
- have to be 18 years old or more.
- not to have been refused entry in any of the Schengen countries.
- have public or private health insurance authorized to operate in Spain.
- have sufficient economic resources to cover personal and family living expenses.
- prove ownership of one or more immovable properties in Spain with an overall net investment over 500,000 euros.
- proof of the investment must be made through a Property Registry certificate that confirms the ownership. If the ownership title is not registered yet it can be made through a copy of a Public Deed and a proof of its submission to the Property Registry.
Key facts about the GOLDEN VISA:
- a flexibility: there is no requirement to reside in Spain.
- once an investment is made you receive a one-year investor visa that allows you to spend 1 year in Spain.
- after this first year it is possible to apply for 2 years recidency that can be renewed for another 2 years so many times as you want so long as the investment threshold of 500.000 euros is maintained.
- after living in Spain for 5 years there is a right to obtain a permanent 5-year residency visa which is then renewable every 5 years.
- a possibility to travel without a visa within the 26 European countries of the Schengen zone.
- a right to obtain a full family residency.
- a right to work in Spain.
- the couples that purchase properties together are not required to invest 500,000 euros minimum individually.
- a possibility to purchase properties in Spain directly or indirectly through a company as long as the investor owns the majority of shares.