Law 14/2013 is the legislation that makes it possible for foreign investors to have the right to residency in Spain. The visa is a residency visa, initially with a duration of one year. It is awarded to those investors who acquire a property with a value of at least €500,000 that is located on Spanish territory.
Although this is more expensive than other similar visa programmes, Spain is perhaps unique in offering residency in world-renowned cities with a lifestyle that is sought by thousands of foreign citizens from other European countries. For those that are in a financial position to make such an investment, we look at the steps to follow in order to obtain a so-called “Golden Visa”.
Advocate Abroad’s lawyers can assist you with making a successful and stress-free application for a Golden Visa in Spain. Unique in having English-speaking immigration lawyers, accountants and tax specialists located across the country we are ready to make your dream move to a life in Spain a reality. Contact us today!
Where to apply
The “Golden visa” gives you a right to residency when you invest at least 500,000 € in a property located in Spain. With this type of visa, you may enter and exit Spain whenever and as often as you wish, without any requirement to spend a minimum amount of time in Spain.
The visa should be applied for in the Spanish Consulate or Embassy of the country of origin of the applicant, and never in Spain (only renewals may be processed in Spain). The application should be made after having acquired the Spanish property i.e. once the investment has been made.
In order to make a successful application, you will need to take the following steps:
- Make sure you have a valid passport
- Likewise, Birth Certificate
- You must spend a minimum of € 500,000 (net of taxes) on a Spanish property free of any loans. Any existing charge or mortgage must not bring the net investment below the minimum amount specified. For example, let’s say you purchase a property valued at € 650,000. Then any mortgage may not be above € 150,000. If you purchase a property together with a spouse, family member or other third party, the investment of each individual must be equal to or greater than € 500,000, so you cannot obtain two visas with an investment of €500,000. To obtain two such visas, an investment of €1,000,000 is required.
- Evidence of the investment is demonstrated by production of the property deeds. The deeds must display the purchase costs of the property, and the deeds should be accordingly registered in the Land Registry. The deeds should be presented together with a certificate demonstrating that no additional mortgages have been granted on the property.
- You will need a bank account with a minimum balance of €25,000 and the existence of the account must be verified by a certificate issued by the bank.
- The investor must not have a criminal record in the country of origin nor in the last place of residence before coming to Spain, nor indeed in Spain. A certificate will be required showing that you are free of a criminal record, as issued by the relevant authorities and with a date of emission no greater than 90 days before the date of application.
Please note that all documents issued outside of Spain must be translated to Spanish by a Sworn Translator, as well as legalised.
You can request a visa for your spouse and/or your children either at the same time as arranging your own visa, or subsequently.
You submit originals and copies of the relevant documentation together with the formal application form, and upon payment of a small administration charge, you should receive a favourable response within 7 – 15 days. At this point the visa is issued and the applicant may immediately begin travelling freely to and from Spain for the one year duration of the visa.
The visa can be renewed upon it’s expiration, whereupon the Spanish authorities will issue a new visa with a validity for two years, where the requirements for the initial visa continue to be met.
Advocate Abroad’s lawyers can assist you with making a successful and stress-free application for a Golden Visa in Spain. With specialist English-speaking immigration lawyers, accountants, official translators and tax specialists located in all parts of Spain we are ready to make your dream move to a life in Spain a reality. Contact us today!