Spanish Golden Visa
Spain’s Golden Visa is a long-stay visa for British citizens who are looking to spend more than 90 days in the country after Brexit.
The Spanish Golden Visa could be right for you if you're a non-EU national who is planning to make an investment in Spain, for example buying a high-value property.
What is a Golden Visa in Spain?
If you want to spend more than 90 days in Spain, the Golden Visa could be the option for you. It's set up as a residence visa issued to non-EU nationals who intend to make an investment in Spain.
You could choose to invest money into the country via shares, funds or bonds, but most people choose to make a real estate investment by buying a property (or properties) worth at least €500,000.
It's important to bear in mind that your investment of €500,000 has to be from your own funds - you can't use a mortgage to buy a property, unless the mortgage is only on the sum above €500,000.
This visa is designed to be a quick and easy way of getting you and your dependents residency in Spain (if you can afford the entry point).
You don't have to live in Spain permanently when you obtain a Golden Visa, so it can be useful way for second-home owners to enjoy stays of over 90 days at a time in Spain. But it's worth noting that if you spend more than 180 days (6 months) at a time in Spain you will automatically become tax (or fiscal) resident.
You could rent out your property to generate income, or, you can use the Golden Visa as a route to residency. If you do choose to go down this route, the Golden Visa allows you to work in Spain for a Spanish company (unlike the Non-Lucrative Visa).
How to get a Golden Visa in Spain
The application process for a Golden Visa can take just 20 days.
You need to apply through a Spanish Embassy or Consulate directly, or through a legal representative.
In order to apply, you and your family must be fully covered by private healthcare (if they are under 65) and must not have a criminal record.
Any family and dependents who are on the application will also need to provide proof that they are related to you in their own applications.
If you're applying via a property purchase, you will need to have an NIE number, and proof of ownership. If the purchase hasn't been finalised yet, you can submit the preliminary contract and a letter from a bank in Spain to prove that you have the necessary funds.
The Golden Visa can be renewed every year, but it isn't permanent residency or citizenship.
If you do want to use this visa as a route to residency, once you are in Spain you'll need to apply for a TIE (foreigner’s identity card) and register with the Padron in your local municipality within a month of arriving.
If you already own a home in Spain you could also benefit from this scheme! You can apply for a Golden Visa if you bought a home for over €500,000 since 2013.
How much does a Spanish Golden Visa cost?
The average fee for a single applicant is €2,500 to €3,500 and the renewal fees are the same (mainly as it’s the same process unlike the NLV renewals).
Family application depends how many dependents and if a spouse and children under the age of 18 years old. On average between €750 and €900 per additional applicant. Add in the Spanish government application fee of €73.26 per applicant.
How long can you stay in Spain with a Golden Visa?
If you have a golden visa you can stay in Spain for the whole year – it comes with a residency card.
The residency card you obtain with a golden visa is valid for two years then you must renew it. You can do renew it for a period of five years. If you don’t want to live in Spain – some people do not get this visa for this, but to spend more than 90 days there or anywhere else in Schengen - you can keep your tax residence outside Spain, as long as you stay in Spain for a period less than183 days per year. Also, the Spanish residence permit can be renewed even with absences of longer than six months per year in Spain.
Check out our links below for more Relocation information
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Spanish "Golden Visa" to boost interest from non EU buyers (Article - Sept 2013)
Brexit - What's next for buyers in Europe? (Article - Dec 2020)