Spain is one of the European countries that are considered an attractive destination not only for tourism, but also for permanent residence. Here you can enjoy delicious cuisine, warm Mediterranean climate, inexpensive products by European standards, a large number of attractions, excellent opportunities for education and career development. The advantages of living here can be listed endlessly – this is what makes Spain an attractive country for relocation.
But staying here must be formalized officially. If everything is clear with a tourist visa, then people who want to stay here for a long time, sooner or later will have to take care of obtaining a residence permit – a residence permit. Spanish law provides for its receipt in different ways and one of the simplest is considered a “golden visa”, which is given for the purchase of real estate in the amount of 500,000 euros and for investments in the Spanish economy.
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“Golden visa” – what is it?
“Golden visa” in Spain, also known as “Spanish visa for investors”, is an attractive opportunity for foreign investors who want to invest in the Spanish economy and get the right to live in this beautiful country. This visa support program was introduced in 2013 and has since become a popular means of attracting foreign investment.
“Golden visa” provides foreign investors and their families with the opportunity to obtain the right to reside in Spain, subject to making certain investments in the Spanish economy. This is an effective mechanism that contributes to attracting foreign capital to the country, stimulating the development of business, real estate market and other sectors of the economy.
The residence permit of the investor is issued directly in Spain. To obtain it, you need to enter the country on a tourist visa and fulfill a number of conditions.
Requirements for obtaining a golden visa
There are several ways to get a “golden visa” in Spain:
- Purchase of real estate in the amount of 500,000 euros. You can buy any housing: several apartments, the amount of which exceeds 500,000 euros, or one expensive property in an elite area. When buying, it is important to check that the housing is not mortgaged and there are no encumbrances on it.
- Purchase of shares of local state-owned companies in the amount of more than 1,000,000 euros.
- Opening a deposit in a Spanish bank in the amount of not less than 1,000,000 euros. This amount must be in the account for the entire duration of the “golden visa”.
- Purchase of Spanish government bonds in the amount of not less than 2,000,000 euros.
- Investments in local business – their size is not regulated today. Any entrepreneur who has a real business plan can submit it to the Spanish authorities. The new business should create jobs for Spaniards, contribute to the scientific and technological development of the country and meet other requirements.
The volume of the above-mentioned investments is indicated for one investor. If both spouses want to get a “golden visa”, then each of them must invest the required amount in the Spanish economy.
The residence permit of the investor is given for 2 years with the possibility of extension for another 5 years, subject to the preservation of the property in the property.
Benefits of a golden visa
The golden visa in Spain offers a number of attractive benefits for its holders:
- The right to reside. Holders of a golden visa receive the right to reside in Spain for a certain period. This allows them to enjoy the benefits of the Spanish way of life, educational system, medical service and other social benefits.
- Freedom of movement. Holders of a golden visa have the right to free movement within the countries of the Schengen Agreement. The presence of a residence permit of the investor allows you to enter any state of the Schengen and stay there for 90 days every six months.
- Loyal attitude when opening a bank account. As a rule, with a residence permit in the country, investors are easier to open an account in the bank and they have access to additional bonuses.
- Access to European education. Children of investors can study in local schools on a par with citizens of Spain. State primary and secondary education is free, and there is a large selection of private schools.
- The possibility of obtaining citizenship. After 10 years of stay in the country, holders of a “golden visa” can apply for permanent residence in Spain.
With a residence permit of the investor, you do not have to live in the country for 183 days a year, as it was before. You can stay in Spain as much as you need – from one to 365 days a year. The cancellation of the need to live 183 days makes the Spanish residence permit more competitive compared to other countries. By the way, in many of them the program “golden visa” was canceled or significantly changed.
The holder of a residence permit of the investor can require a residence permit for his closest relatives, but not for everyone. It is about financially dependent on the investor people. Usually these are elderly people and minors.
By the way, you can buy both residential and commercial real estate. But keep in mind that the funds can not be attracted with the help of a mortgage. You can arrange it, but only for the amount that exceeds the deposited 500,000 euros. There are cases when the cost of the apartment liked by the person does not reach the required amount. For example, not enough 20,000-30,000 euros. To meet the requirements of the program, you can additionally buy a parking space, adding its value to the total amount.
If you plan to get a “golden visa”, then a good option will be investments in Spanish real estate – this is a great opportunity to get a profitable housing. You can buy one apartment for living and another for rent, getting a source of additional passive income. On our website you will find only verified ads, which have passed strict moderation. If you have any questions, please ask our online consultants or call the contact phone number.
