The Golden Visa – Spain's Residency Visa

Golden Visa

During 2013 the Spanish government opened the “Spanish Golden Visa” scheme, offering clients the opportunity to gain a Spanish residency Visa for a 500,000 EUR cash investment in Spanish property.

We have listed the basic requirements below, but please feel free to speak to our Marbella (Spain) based legal team for full details of this scheme, or alternatively our Customer Services team can assist in suggesting particular properties that will:
a) gain you a Spanish Residency Visa
b) offer a very good return on investment
c) offer you the opportunity to base your family in Spain.

There is a difference between Residency and Citizenship by investment in Spain. The Visa scheme gives automatic residency to anyone investing over 500,000 EUR (cash, no mortgage) in a Spanish property. This gives you the right to reside in Spain and travel freely within the Schengen Zone, consisting of 26 European countries, but you will not be able to work or gain benefits that the Spanish state offers to its standard residents.
You do not have to reside in Spain (minimum stay is 1 day per year!) although your immediate family can reside here and attend (private) School or University.

Citizenship grants a person the same rights as any Spanish national. So after 5 years of a successful Residency Visa term you can convert the Visa to permanent residency, subject to certain conditions being met. If the application is successful then a Spanish Passport will also be issued.

Requirements for application

Minimum investment of 500,000.00 EUR per person on real estate in Spain.
Must have Spanish private medical insurance.
Proof of ability to support family and properties in Spain.
Clean criminal record.

The benefits

You have the possibility to reside in Spain.
Minimum required stay in Spain is only 1 day per year, so there is no obligation to reside in Spain.
Free travel within the Schengen zone.
Possibility to convert to permanent residency after 5 years (subject to certain conditions being met).
If Golden Visa is granted to head of a family, family members can also have residency (subject to certain conditions being met).
No obligation to become FISCAL resident in Spain.
Possibility to purchase through non-resident company (subject to certain conditions being met).

Questions and Answers

In this case, the person IS eligible for the residency permit, as the total value invested in property is 500,000 EUR.
Yes, this person would be eligible for residency as the 500.000 EUR minimum spend requirement in cash has been met.
They are NOT eligible for the residency permit, as this only equals 350,000.00 EUR investment each, each one owns 50 % (350,000 EUR each). However, if the head of the family can show commitment to support the rest of the family through a Sponsorship letter, residency for the others can be obtained with ease.
It is possible to do so, but the applicant must be in majority control of shares and voting rights.
No, as long as the conditions above are in place.
For the real estate investment permit, there is no application deadline, for example you purchase a property today, you can apply for a residency visa in 12 week or months time.
No. The investment needs to be acquired after the date that the Law came into force to obtain the Visa.
Quicker processing of the Visa application (by the normal means, it takes around one year).
When renewing, the process is only 20 days, for approval with positive silence.
There is no need to visit Spain for any period of time, as long as there is a visit of at least 1 day per year during the Residency Visa period.
Flexibility to organize the fiscal residency.
In principle, one year for the first period. Then renewals are valid for 2 years, under the condition that any of the circumstances above do not change, i.e. the client remains in possession of the property. After 5 years, application for a permanent visa is possible.