SPAIN'S GOLDEN VISA

This new regulation from the Spanish government is attracting lots of foreing investors to our Real State market.

In 2013, after a hit to the Spanish economy, the government created a program for non-EU citizens to get fast-tracked residency and benefits in return for a minimum investment of €500,000 towards property in Spain. The purpose was to attract foreign investors to purchase property and/or open businesses in Spain to inject money back into the economy and employ Spanish citizens. This program, was informally dubbed the Spanish “Golden Visa.”

The Golden Visa comes with some really beneficial perks for those interested in investing abroad in Spain. For one, your entire family (spouse, children, dependents) will receive Spanish residency all for the single €500,000 investment. This gives you free visa travel within all of the EU Schengen region countries. Unlike other residency options in Spain, which require you to live six months out of the year to maintain your temporary residency, the Golden Visa Investment Program eliminates any in-country requirements to reside. This means that by investing abroad in Spain, you can travel freely in and out of the country while still maintaining your temporary residency permit.

After five years of temporary residency under this investment program, you can qualify for permanent residency. After another five years of permanent residency (ten total years from point of investment), you can qualify for Spanish citizenship. While annually renewing your temporary residency comes with no requirements to live in Spain, upgrading to permanent residency does require that the investor and their family’s primary residence be in the country.