Spain Golden Visa
Important Update
As of April 3rd, 2024, the Spain Golden Visa program has officially been discontinued. The government is no longer accepting new applications under this residency-by-investment scheme. If you are exploring alternative residency options in Europe, we invite you to explore programs in countries like Italy, Portugal, and Greece.
Requirements/Investment Options
The programme is open to all non-EU applicants. Spain has an excellent variety of real estate offerings, whether for lifestyle or investment. With an attractive climate and geography, the chance to own property in this highly desirable country is a main benefit.
- Real Estate: acquisition of minimum 500.000€
- Bank Deposit: or investment fund of 1.000.000€ in a Spanish financial institution
- Government Bonds: Minimum 2.000.000€ into government bonds
- Shares or Business: Minimum 1.000.000€ in shares of Spanish companies
Qualifying dependents
As the principal applicant, you must show evidence of the source of your funds.
You can include your spouse as a dependent. Like you, they must be over 18 years of age, not be EU citizens and have no criminal record.
You can also include dependent children of any age. In addition, you can add your dependent parents.
Process Overview
Following your initial contact, we will provide an overview of the programme in terms of application process.
A PoA allows you to obtain an NIE. Entrepreneurs seeking residency in Spain can buy real estate valued at €500,000 or more. This investment threshold can include multiple properties.
You do not need to live in the properties or rent them out.
Following an in-person scheduled visit, you receive a one-year Golden Visa from your nearest Spanish consulate. You must make a biometrics appointment for your TIE. Collect this resident card in person.
Your TIE will be valid for three years. You can renew this every five years should you continue to meet the qualifying conditions. That means maintaining ownership of property.
Under the family reunification scheme, your spouse and children under 18 receive a residence permit once Spanish authorities approve your application. Children above 18 and parents also qualify, provided they are financially dependent on you.
Taxation
Having a Golden Visa does not mean you become a tax resident in Spain. You become one by spending over 183 days per year in the country. The same occurs if Spain is your economic interest or familial ties centre.
IRNR (Impuestos sobre la Renta de No Residentes) is the Non-Tax-Resident Tax. You pay taxes on income generated in Spain (for example, rental income). There are no taxes on worldwide income or wealth taxes. The tax rate is 24% on gross receipts.
Summary of Key Advantages
Visa-free travel throughout the Schengen Area
Right to live, work, and study in Spain
Residency granted within five months
No physical presence requirement
Investment options starting from EUR 500,000
High quality of life, fantastic local cuisine, rich culture, mild climate, and high level of security
Citizenship is possible after ten years of legal residence and two years for those from Ibero-American countries and former Spanish colonies.
Process Overview
Month 1
Initial due diligence.Following the successful screening, we will provide you with a Client Agreement (CA) to review and sign. You will then sign a PoA to obtain a NIE (Número de identidad de extranjero). Spanish tax authorities use this Foreigner Identity Number.
Months 3-4
You will need to sign a sales and purchase agreement on a qualifying property investment. After an in-person appointment, you receive a one-year Golden Visa from the Spanish consulate of your home country.You must make a biometrics appointment for your TIE, Spanish Identity Card.
Months 5-7
You will need to collect your TIE, Resident Card, in person.This is valid for three years and then you can renew every five years should you continue to meet the qualifying conditions.