applying for the spanish golden visa / spanish investment visa

This Visa grants qualifying individuals a renewable temporary residence permit, in exchange for an investment in the country. It is intended for non-EU/EEA and non-SWISS citizens (including UK Citizens). With this Visa you can live, work and do business in Spain as long as you maintain your investment.

If you apply from the Consulate the Visa is granted for one year, and you will be granted a residency card for two years.   If you apply from within Spain you are granted residency for three years.  It can be used to start the process of obtaining permanent residency (after five years) and Citizenship in Spain (after 10 years).  When you renew your new residency card will be valid for another five years.

Once the Visa is approved, applicants will need to apply for the TIE residency card (Tarjeta de Identidad de Extranjero) within Spain.

You must make one of the following investments in Spain:

• Property Investment (Real Estate): Purchase commercial and/or residential real estate in Spain with a minimum value of €500,000 excluding costs of purchase and taxes.
• Spanish public debt securities: Invest at least €2 million in public debt securities
  
• Stocks, shares and bank deposits: Invest at least €1 million in stocks or shares of companies operating in Spain, in Spanish investment funds, venture capital funds or in bank deposits in Spanish financial institutions
  
• Business investment: Invest at least €1 million in starting a business in Spain that generates employment, contributes to the technological and/or scientific innovation and has a strong socio-economic impact.
  

The key requirements are:

• Sufficient Economic Means: You must prove that you can support yourself and any dependents from a source outside of Spain such as savings, pensions, rents or dividends. The minimum financial requirement per year is €28,800 (€2,400 per month) for the primary applicant and €7,200 per year (€600 per month) each for the partner and/or other dependents.
  
• Criminal Records Check: A clean background check from each country in which you have lived in the past five years.
• Medical Certificate: A certificate of good health issued by a registered doctor.
• Health Care: You will need private health insurance that provides full coverage, no co-payments or waiting periods and must be valid for one year. If you are from the United Kingdom and at the state retirement age you will be able to access free public health care. After one year in Spain you may wish to opt for Convenio Especial, a scheme where you pay to access public health care.

Of course you first need to make a decision on what type of Investment you want to make in Spain and take the required actions. The first step is to obtain an NIE number (white letter) and it will take time to obtain this.

It can take between 1-2 months to prepare the Visa application and it should take place in parallel to when the investment is being finalised.  It can take between 10-20 days for a decision to be reached once the application is submitted.

We always recommend to clients to plan ahead. Depending on your personal circumstances you may need to start the process before you arrive in Spain. You may require supporting documents from your existing country of residence or other countries which may take time to obtain.

Help At Hand Spain provides a service to guide and support you through the process every step of the way. Get in touch with our enquiry form to share your personal circumstances and we can give you a free no obligation quote.

In addition to our fees, you may need to budget for some or all of these expenses depending on the application or residency you will apply for.

• Golden Visa: If you need to apply from a Consulate you will need to pay a consulate fee, the cost can be vary depending on the citizenship you hold. If you apply within Spain for the Golden Visa from within Spain the fees will be different.
  
• Sworn Translation: A number of documents will need to be translated. Help At Hand Spain partners with a number of government approved translators and can include this service
• Health Insurance: Help At Hand Spain has trusted partnerships and can obtain you a free no obligation quote from a variety of private health insurance providers. The cost will depend on your age and any pre-existing conditions.
  
• Police Checks: A criminal records check is a mandatory requirement for Non Lucrative Visa and Golden Visas.
• Medical Certificate: You can obtain this from a medical practitioner / doctor.
• Public Notary: Depending on your personal circumstances you may require a legal affidavit to support your application.
• Apostille/Legalisation of Documents: A number of documents will need to be legalised the cost will dependent on the country in which the document was issued.
  
• Tasas: There will be other smaller government processing fees (€10-€20 Euros per person) that will need to be paid.

Below you can find a quick summary below, learn more in our Our Free Guide to Your Money and Finances

• Will I become a tax resident in Spain? The timing of when will depend on your personal circumstances and it is recommended to seek the professional advice of a Spanish tax advisor. Generally speaking you will become "Tax Resident" if you spend more than 183 days in a calendar year or you have your center of economic interests in Spain.
• What does it mean to be tax resident in Spain? If you are tax resident in Spain you will be required to complete annual tax returns. Depending on your personal circumstances you may also be subject to Wealth Tax and annually declaring your worldwide assets. It is highly recommended to consult with a tax professional to ensure you understand how taxation works in Spain. We partner with an English/Spanish speaking Tax Specialist who can offer a one hour tax consultation, ask us for further information.
  
• I have property outside of Spain what do I need to consider? Be aware that the sale of this is subject to Capital Gains tax in Spain when you become a Spanish tax resident, this may influence the date of when you move to Spain. Even if you are not permanently living in Spain, if you own a property (rented or unrented) or have other Spanish financial interests/assets you may be liable for non-residents tax.

The common questions that arise are:

• How to retain the Golden Visa temporary residency status? You need to visit Spain at least once, and maintain your investment. You are not expected to be a tax resident in Spain given this, however you would not meet the requirements for permanent residency.
  
• Can I apply for permanent residency? If you want to apply for permanent residency after the first five years of temporary residency under a Visa, you cannot leave the country for more than 6 months in any 1 year period or a total of 10 months in five years.
• Can I apply for Spanish Citizenship? After you have held residency for 10 years (5 years temporary + 5 years permanent) you can apply for Citizenship. However to be eligible during the period of permanent residency you can leave for up to 1 year continuously and consecutively or a total of 30 months.

Check out our free guide for Moving with Pets.