Currently, it’s possible to obtain Spanish residency through an investment. Within the real estate investment residence law that has been made in Spain, we find the Golden Visa which allows you to live and work in Spain if you invest a minimum of 500.000 euros in real estate.
The Golden Visa is also an excellent immigration route for those foreigners who need to stay in their countries or don’t want to live in Spain since obtaining the visa doesn’t imply that the investor has to reside in the country, but can visit it once a year.
This visa has already been extended in many European countries; however, Spain offers one of the most tempting visas in terms of conditions and advantages. Getting Spanish residence by buying housing in Spain allows the applicant access to the Schengen territory, co-ownership and rights of their partners and children and non-stay in the country, among many other factors.
The use of gold visas in Spain is getting more popular every year. In fact, Spain broke the record number of visas in 2018 for the fifth consecutive year. Approximately 45% of luxury homes purchased by non-EU was used to obtain a residence permit. What’s more, more than four in ten buysales of homes above 500.000 euros also ended with the grant of a Golden Visa.
Best way to get the Golden Visa
As we’ve been saying, the first requirement is to invest a minimum of 500.000 euros in a property for residential or commercial use. The majority of investors obtain the visa in this way, but there are also other actions inside the real estate investment residence law:
- Acquire an amount of 1 million euros or more in equity or shares in national companies.
- Maintain bank deposits that reach the amount of 1 million euros.
- Make investments in order to buy Spanish public debt of 2 million euros or more.
- Make an investment for the establishment of companies oriented to scientific and technological innovation whenever they have an economic interest for Spain and create employment.
The Golden Visa was born withing the framework of the Law to Support Entrepreneurs and their Internationalization. With the intention of promoting and incentivizing foreign investment in Spain, Law 14/2013 of 27 September was enacted; a real estate investment residence law.
This law establishes, among other categories, the different immigration benefits that a foreigner can obtain by making a significant capital investment in Spain. It is thought to be for investors, entrepreneurs, highly qualified personnel, R&D&I training and intra-enterprise transfer.
The implementation of the law has favoured the international mobility of professionals in Spain because it’s one of the countries with best conditions to invest and offers more facilities and benefits than other countries of the European Union.
Personalized advice with Orience International
If you are thinking about investing in Spain, in Orience International we are specialists in showing the real estate market to foreign investors. With this sector growing more and more every year, especially in cities such as Barcelona or Madrid, it’s essential to have professionals specialized in the sector in order to be by your side every step of the investment project.
Our goal is to eradicate any risk and protect those who decide to invest in the Spanish real estate market. We know first-hand what any investor needs and we offer a transparent service that goes from the initial advice to the end of the process.
We are Golden Visa specialists, get in touch!