Spain continues to maintain the Residency by Investment program, commonly known as Golden Visa Spain. However, some countries in Europe, such as Portugal, Ireland, England, Cyprus, and Malta, have already suspended this option. In addition, the Greek government is considering to cancel the program.
The Golden Visa in Spain allows foreigners who invest in the country and their families to reside, work, and study in Spain. To obtain the Golden Visa it is required to invest at least 500,000 euros plus taxes in real estate. Furthermore, there are other options for investment, such as the creation of companies, the purchase of shares, the purchase of Spanish public debt, or the creation of a project of general interest.
What is the Golden Visa Spain program?
- It is a possibility to obtain a Residence and Work Permit in Spain for the whole family of the investor.
- It is a unique opportunity to obtain Residence for 3 years initially, with the option to renew it for further 5 years.
- It is a possibility to live, work, and study in Spain and travel throughout Europe.
- It is the only residence permit that does not require any period of residence in Spain for renewal.
What are the advantages of the Residency by Investment program?
- Simplicity during the application process: most applications are completed within 45 days. On the contrary, applying for any other type of visa in Spain can take between 3 to 6 months.
- Permission to work for the investor's entire family.
- Freedom of movement throughout the Schengen zone, which includes 28 European countries, and several other countries.
- It does not require investors to live in Spain for a specific time. This means that investors can maintain residency while living and working outside of Spain.
- It does not require knowledge of the Spanish language or previous connections with Spain.
How to apply for the Golden Visa Spain?
To apply for the Golden Visa residence permit the applicant must submit, to the competent authorities, all the necessary documentation in order to carefully analyze it and decide whether to grant or deny the permit.
It is recommended to choose a law firm who is specialized in the matter and has experience in the procedure to facilitate the possibility of obtaining satisfactory processing.
Why should I apply for the Golden Visa with the professionals of Font & Yildiz law firm?
- We have years of experience processing and obtaining permits for clients from 51 different countries. We are a Spanish firm with offices in Barcelona and Madrid, and we are known for our international experience.
- We advise investors on purchasing and selling real estate assets (private and commercial properties, offices, hotels, buildings, etc.) to obtain the Golden Visa.
- We have mastered the process of obtaining a Golden Visa in all the possible modalities: company participation, real estate acquisition, and the qualification of a business project as a project of general interest for Spain, etc.
- We are familiar with the criteria that the Spanish immigration authorities of the file follow, so we can advise the client adequately.
- We have a recognized and experienced tax team that can offer the best advice to foreign investors who wish to operate in Spain or optimize and guarantee the correct fulfilment of tax obligations.
- Font & Yildiz law firm is a member of the GLOBALAW network. This organization is known worldwide due to the high-quality standards of its members, which is why it provides important legal advice in international operations.
Investment options for the Golden Visa Spain program
- The Golden Visa Spain grants residency to foreigners and their families who invest in real estate in the country. For this modality, an investment of 500,000 euros plus taxes is required.
- The real estate investment can be in private or commercial real estate and has several advantages. The investment does not need to be in a single property; several properties can be added together to reach the required investment amount. Rental income can be an important source of income for investors, while capital appreciation can provide a good return on investment.
- The property can be used for personal use, providing a holiday or retirement home.
- Investors can make such contributions to Spanish companies, including start-ups, or even purchase shares. The fact that the investment can be in the form of equity or debt has several advantages, such as the possibility of high returns and the diversification of the investment portfolio. The minimum investment for this type of investment is EUR 1 million. This modality allows foreign entrepreneurs who intend to have a business branch in Spain to acquire a residence permit.
- There is the possibility of obtaining the Golden Visa without a minimum investment when the intention is to implement a project in Spain that can be considered of general interest. This must be assessed on a case-by-case basis, and the approval of the ministry must be obtained in this regard.
- Another option for the Golden Visa application is a Spanish bond investment of at least 2 million euros. Investment in government bonds has a fixed interest rate and maturity of one to ten years, and this presents several advantages, such as investment security and a fixed return.
Tax implications of the Golden Visa Spain program
Non-resident investors are taxed on their incomes obtained in Spain, while resident investors are taxed on worldwide income. The tax rate for non-resident investors is 24%, while the tax rate for residents varies according to income.
Investors in the Golden Visa Spain program are also subject to wealth tax, which is a tax on net wealth. The wealth tax rate varies depending on the region of Spain, and the tax is levied on the net wealth of the investor and his or her family members.
Conclusion
- The Golden Visa Spain program is a smart choice for international investors and their family members who wish to obtain residency in the European Union, and can live, work, and study in Spain.
- The program offers a wide range of investment options, including real estate, Spanish companies, and government bonds.
- The program offers several advantages, such as residency in Spain, free movement within the European Union, the possibility to work, and fast processing times.
- Compared to other European visa programs, the Golden Visa Spain program offers more flexibility in investment and residency options in one of the most popular expatriate destinations.
