PEREZ LEGAL GROUP – SPANISH GOLDEN VISA

SPANISH GOLDEN VISA

The golden visa is a visa that allows you to live and work in Spain. It can be applied for by anyone who has bought a property without a mortgage of more than 500.000€, people who have deposited 1 million euros in a Spanish bank or people who have bought shares for 1 million euros.


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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.

BENEFITS OF THE GOLDEN VISA

Preferential treatment is one of the main benefits of gold visas. With these visas you get the residence permit by the fast track, both for the first immediate grant valid for one year (if done in spain telematically with our lawyers it will be 3 years, and we will do this one for you) and to process renewals every three years,” explains the lawyer.

In addition, the residence visa derived from the Golden Visa allows free movement through the rest of the 26 European countries of the Schengen area. This freedom of movement is highlighted as one of the main reasons for processing the visa for real estate investment. But there is more: the Golden Visa makes the granting of visas more flexible not only for the person making the investment but also for his spouse and for children under 18, and access to any schools.

GOLDEN VISA SPAIN TAXES

When you buy real estate and obtain the Spanish residence permit, you will of course be liable to some tax. Which ones and how much depends on how much time you spend in Spain during the year. If you stay in Spain for over 6 months, you’re counted as a Spanish resident and your worldwide assets and income will be taxed in Spain. If you’re in the country for a less amount of time, you only pay taxes on the initial purchase of your real estate and thereafter on the value of your assets in Spain.

HOW MUCH TIME DOES IT TAKE TO GET THE GOLDEN VISA IN SPAIN?

Once all documentation has been submitted to the competent authority, 20 days may elapse before a decision is reached. (you should be in Spain, the 3 of you) with your passports duly stamped with the entry date! This is really important.

After having received this resolution with favourable results, we have a period of 1 month to apply for the visa at the Spanish consulate located in the investor’s country.  

The next step will be to obtain the TIE (Tarjeta de Identidad del Extranjero), as well as the taking of fingerprints in any police station.  

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