The so-called Golden Visa
Is a residence visa for non-EU citizens who make a real estate investment in Spain equal to or greater than 500,000 euros. The aim of the Golden Visa, approved in Spain in 2013 and also in force in other countries such as Malta, Portugal or the United Kingdom, is to attract foreign investors who want to buy homes or other properties and who, in return, are made easier to obtain a residence permit.
| Visa Name | Golden Visa |
| Description: | Residence visa for non-EU citizens who make an investment in Spain. |
| Duration of the permit | 2 years |
| Payable Taxes | If you spend less than 6 months in Spain you just pay taxes on your assets in the country. Check our tax information page. |
| Main Requirement | Minimum investment of 500.000€ in Real Estate |
Golden Visa Spain: Application Requirements
In order to successfully apply for a Golden Visa during 2022, the applicant must meet the following requirements:
- You must be a resident of a country outside the European Union. You must not forget that it is intended for investors from outside Europe.
- Be over 18 years of age.
- Have no criminal record.
- Have a private medical insurance in Spain.
- Demonstrate that you have sufficient financial means to live in Spain and support your family.
- Make the corresponding investment which, depending on which one it is, will be of one amount or another. Here you have a list of all possible investments:
- Make an investment in public debt for an amount equal to or greater than two million euros.
- Make an investment in bank deposits in Spanish entities or in shares of Spanish companies worth more than one million euros.
- Buying real estate in our country for a value greater than 500,000 euros.
- Start up a business in Spain that must meet the following requirements:
- To create jobs.
- With an important impact on the country or region at a socioeconomic level.
- That represents a scientific or technological novelty
DOCUMENTATION NEEDED TO GET THE GOLDEN VISA
We have seen how one of the fundamental requirements to obtain a residence visa for real estate investment is to demonstrate, by means of the corresponding document, that the investment has been made.
The question now is: which documents exactly justify this investment?
If we want to obtain the golden visa through the investment of real estate, we must provide as proof of the purchase of the property the certification of domains and charges of the Land Registry, and the deed of sale of the purchased assets.
In the case of investing in Spanish shares or participations: a declaration of the investment from the Investment Registry of the Ministry of Economy in the case of participations; and a certificate from the financial intermediary registered with the National Securities Market Commission (Comisión de Nacional de Mercado de Valores) for the purchase of shares.
If what we have done is invest in Spanish public debt, we will need a certificate from the Bank of Spain or the financial institution with which we have managed the investment in which we can clearly see how we are the holders of that purchase.
Finally, for investments in bank deposits, you will need the certificate issued by the financial institution with which you have contracted the deal, which states that you are the sole holder of that deposit.
REAL ESTATE INVESTMENT
The value of the investment in real estate will amount to 500 thousand euros plus taxes (Article 63 b) of Law 14/2013).
In accordance with Article 64 b) of Law 14/2013, “the claimant must certify that he has obtained ownership of the property by means of certification of ownership and charges from the Land Registry corresponding to the property or properties”. The certification may incorporate an electronic verification code for online consultation. This qualification will include the volume of the acquisition; in any other case, it will be approved by the corresponding public deed.
The real estate investment must be equal or higher than 500 thousand euros plus taxes, but must be included in one or more properties of this type. This has been determined several times by the Spanish Courts. One of the decisions that have explained this point is the following:
“In addition, this derives from the literal wording of Article 63.1.b) of the aforementioned Law 14/2013, which refers to the value of the investment as ‘the purchase of real estate in Spain’, in the plural, which implies that the 500,000.00 euros do not have to have been invested in a single property, but it is also possible that it has been invested in more than one property” (STSJ d).
In order to comply with the real estate investment requirement, not only is it necessary for the property or the sum of the properties (if there are several) to have a valuation of at least 500 thousand Euros plus taxes, but that amount must also be free of charges or encumbrances. However, it should be noted that “the part of the investment that exceeds the necessary amount [500 thousand Euros] may be subject to a fee or tax” (Added by us / Article 64.b of Law 14/2013).
