Foreign real estate investors can now take advantage of the law adopted by Spanish government (commonly known as “Golden Visa”) on the granting of residence permits for non-EU citizens when 500,000 Euros or more is invested in real estate in Spain.
The Spanish Golden Visa (or “Property Visa“) grants automatic residency in Spain when you purchase property for 500,000€ or more. This can be any type of property: home, commercial, land, or a combination of properties. As opposed to thewealth visa, , the golden visa does not require you to be in Spain 183 days of the year.
The steps to getting a golden visa:
- You come to Spain with your travel visa and look for a property.
- Once the pre-agreement (contrato de arras) is signed and corresponding funds are deposited, you can apply for the golden visa. If needed, the authorities can grant you a permit for six months so you can complete the process of buying your property.
- If your golden visa application is accepted, you will receive a visa for one year. As opposed to other visas, the golden visa application can be presented while you are in Spain.
- After receiving your golden visa, you can keep renewing the visa, as long as you do not sell your property.
Please see our property guide to understand the steps to buying a property.
In 2015, the golden visa experienced an easing in the criteria for its concession and renewal. This has helped overcome the bureaucratic hurdles that characterized the prior procedure. The government has also expanded the beneficiaries to include unmarried couples (parejas de hecho) and children of the buyers who are over 18.
Strong Abogados offers a combined golden visa service to perform all the legal work involved in the property purchase (“conveyancing”) as well as the work to obtain residency in Spain. We have longstanding expertise in both fields: since 2003, Strong Abogados has performed the legal work for 500 property transactions and helped 350 families obtain residency.
Please request our golden visa proposal and get started on your path to EU residency.