Spain launched its golden visa programme in 2013. An investment of €500,000 in real estate will gain family residency. The Spanish investor visa can be renewed every two years. After five years it is possible to gain permanent residency and after ten years citizenship. It is not necessary to live in Spain to retain and renew the residency visa permit.

A Golden Visa for Spain, officially known as the Spain Investor visa, is a residence permit issued to non-EU citizens who make a significant investment in Spain, such as buy real estate, invest in a company, or create employment opportunities.

Who Can Apply for a Spain Golden Visa?

You qualify to apply for a Spain Golden Visa if you fulfill all the following conditions:

• You have proof of having made one of the investment options.
• You are over the age of 18.
• You obtain valid health insurance in Spain.
• You have enough financial means to sustain yourself and any family members.
• You have a clear criminal history in any of the places you have lived in.
• You are not in Spain’s list of undesirable people.
• You have no rejected Schengen Visas.

If you qualify, there are lawyers and Golden Visa professionals who are willing to assist and guide throughout the whole process of obtaining a Golden visa for Spain.

Companies like BM GROUP, which specialize in Golden Visa programs, have experts on hand, offering consultation and assistance on international real estate investment. Their experts can let you know whether you are a fit for the Spanish Golden Visa (through a free consultation) and arrange your trip to Spain to see your options first-hand. Unless you are an expert on Spanish legal and financial matters, you’ll need legal help to settle your investment.

What Are the Investment Options for a Golden Visa in Spain?

You can apply for a Golden Visa for Spain if you make one of the following investments:

Investment type	Investment amount	Golden visa type
Investment in real estate property	At least €500,000	Residency Visas for Acquisition of Real Estate (RIV)
Investment in shares in a company or deposit in a Spanish bank	At least €1,000,000	Residency Visas for Capital Investors (RIC)
Investment in the Spanish public debt	At least €2,000,000	Residency Visas for Capital Investors (RIC)

You can also invest in a new business that will create employment opportunities for Spanish citizens, contribute to innovation in the fields of science or technology, and make a significant socio-economic impact.

The investment amounts for Spain’s residency program are somewhat different from the program requirements in Portugal.

Yet, nationals of the EU members states, Iceland, Norway, Liechtenstein, and Switzerland do not need to apply for this visa. If you are a national of one of them, you can just move to Spain without the need of this visa.

When and Where to Apply for the Golden Visa to Spain?

You should begin the application procedures after you have invested the required amount of money in Spain. You have to be committed to making the investment, although it doesn’t necessarily need to be finalized. The earliest you are permitted to apply is three months in advance of your intended trip to Spain.
You can apply for a Spanish Golden visa from your country of residence, by lodging your application at the Spanish embassy or consulate. You can also file an application in Spain if you are here with a long stay visa.

Documents to Submit When Applying for a Spain Golden Visa

These documents you need to submit to support your application are:

• The Spanish long stay visa application form.
• Two Spain passport photos.
• Your valid passport. It must be issued within the last 10 years.
• Proof of country of residence.
• Proof of investment: All documents proving the type and amount of your investment as well as the origin of your money.
• Residency Visas for Acquisition of Real Estate:
  Certification containing information of the dominion and taxes of the Land Registry, which corresponds with the property purchased.
• Residency Visas for Capital Investors:
  A copy of a statement of investment made in the Registrar of Foreign Investments of the Ministry of Economy and Competitiveness, in case of investment in unlisted or company shares.
• Certificate of a financial intermediary, duly registered with the National Commission of the Stock Market or the Bank of Spain in case of investment in listed shares.
• A certificate of the financial institution or the Bank of Spain if the investment is made in government bonds.
• In the case of a bank deposit investment, a certificate from the financial institution.
• Police Clearance. Submit this document in original, photocopied and translated. It must be no older than 90 days at the time of application.
• Proof you have sufficient economic funds to support yourself and your dependents while in Spain.
• Spanish medical insurance purchased from an authorized Spanish provider such as Adeslas.
• A medical certificate, which confirms you do have any disease that poses risks to the public health.

The experts at BM GROUP can assist you in obtaining all the required documents for your visa application, through their inside knowledge of Spanish laws and experience with local banks, developers, agents, and lawyers.

How to Apply for a Spain Golden Visa?

To apply for a Golden Visa for Spain you must go through these steps:

1. Make one of the eligible investment options. You may need to travel to Spain with a regular Spain Visa during this time to finalize your investment.
2. Apply for a Golden Visa. You should lodge your application at the nearest Spanish Embassy within three months of making the investment. You can apply yourself or through a legal representative.
3. Submit the application along with the document file.
4. Get your residence permit. Once you receive your Spain Golden Visa, you have to travel to Spain and exchange it for a Residence Permit and submit your biometric information.

If you hire the services of BM GROUP – Golden Visas, they can assist you in finding a lawyer, who can act as your legal representative and finish the bureaucratic and technical aspects of your Golden Visa. This includes overseeing the completion of the property and processing the visa application for you and your family.

What Are The Benefits Of The Spanish Golden Visa?

Some of the benefits that derive from the Spanish Golden Visa are:

• You and your family members will receive Residence Permits, allowing you to live in Spain.
• You and your family members can travel to all Schengen Zone countries visa-free for up to 90 days in a 180-day period.
• You do not need to live in Spain to renew the Golden Visa.
• If you do live in Spain, you become eligible for permanent residence after five years.
• You can apply for Spanish citizenship after ten years of residence.
• You and your family members can make use of Spain’s health and education system.

Note: If you want to travel abroad while residing in Spain, you should check out travel insurance options.

Can I Bring Family Members With Me?

You can include the following family members in your application as well:

• Your spouse
• Your unmarried minor children (under 18) as well as any adult children who are dependent.
• Dependent elderly parents.

How Long Can I Stay in Spain With a Golden Visa?

The Spain Golden visa is initially valid for one year. Then, you can apply to convert your visa into a residence permit for investors and get a two year valid residence permit.

For How Long Is the Residence Permit Granted?

The Residence Permit you receive via investment is valid for two years. You can then renew it indefinitely every two years as long as you have maintained the investment (in other words, as long as you still own the property you have purchased).
If you actually decide to live in Spain, then after five years of living in Spain with a two-year Residence Permit, you can apply for a Permanent Residence Permit.

For How Long Is the Spanish Golden Visa Residence Permit Granted?

The Residence Permit you receive via the Golden Visa is valid for two years. You can then renew it indefinitely every two years as long as you have maintained the investment (in other words, as long as you still own the property you have purchased).
If you actually decide to live in Spain, then after five years of living in Spain with a two-year Residence Permit, you can apply for a Permanent Residence Permit.

How Long Do I Have to Stay In Spain To Renew the Residence Permit?

There are no stay requirements in order to renew a Golden Visa Residence Permit. You only have to travel to Spain when you need to apply for renewal.
However, if you intend to apply for permanent residence, then you must live in Spain for at least five years without interruption (at least six months out of the year). If you ever plan to apply for Spanish citizenship, then you have to live in Spain for at least ten years.

Can I Lose The Residence Permit?

Yes, if you cannot prove you have maintained your investment in Spain, then you will lose your Golden Visa Residence Permit. For example, if you sell your property or liquidate your investment.

Spain Residency Through Real Estate (Buying A House)

The most common type of investment route to Spanish residency is through buying property worth at least €500,000. This can be a single unit or several units which amount to half a million.

You have to prove you have acquired ownership of the property/properties through a certificate issued by the Spanish Land Registry, which states the purchase amount.

Getting Permanent Residency in Spain

When your initial residence permit is about to expire, you can apply for its renewal. You can get another 5 years in Spain, and you can endlessly apply for the renewal of your residence permit, as long as you meet the initial requirements.

Getting Spain Citizenship by Investment

A Spanish Golden Visa leads to Spanish Citizenship more than any other visa, that is why the program is also known as Spain Citizenship by Investment. You will be able to get Spanish passports after 10 years in Spain with a Golden Visa, given that you meet the following:

• You have remained in Spain for at least 183 days per year, in 10 years.
• You speak Spanish at least of basic levels.
• You have a basic understanding of Spanish history and culture.
• You have no criminal convictions or debts in Spain.

Do Nationals From Former Spanish Colonies Get Citizenship Quicker?

Yes, if you are from a former Spanish colony (one of the following countries), you can get Spanish citizenship in as little as two years of residence as opposed to ten:
• Argentina
• Bolivia
• Chile
• Colombia
• Costa Rica
• Cuba
• Dominican Republic
• Ecuador
• El Salvador
• Guatemala
• Honduras
• Mexico
• Panama
• Paraguay
• Peru
• Philippines
• Venezuela
If you are from one of the aforementioned countries, and you receive a Golden Visa, then you can become a Spanish citizen within two years, provided that you have travelled to Spain at least eight times within that period.

Can I Use a Mortgage To Get a Spanish Golden Visa?

No, you will not qualify for a Golden Visa if you use a mortgage to pay for a property in Spain, at least not for the minimum requirement. You have to make a payment of at least €500,000 in full from your own funds, but for anything that exceeds that amount, you may be able to use a mortgage or financing.

Can I Travel in Europe With a Spanish Golden Visa?

Yes, a Spain Golden Visa allows you and your family members to travel through Schengen Zone visa-free for up to 90 days within a 180-day period. However, non-Schengen countries in Europe have their own visa requirements, so free travel is not always guaranteed.

Do I Need Health Insurance Cover For Spain?

Yes, it is a requirement of the Golden Visa application process to obtain health insurance. You and your family members must have valid health insurance even if you never intend to live in Spain at all.

What Kind Of Health Insurance Should I Have In Spain?

Residents in Spain are eligible for public health insurance. However, to make use of Spain’s public health system, expats have to be employed and pay taxes in Spain, as it is financed by taxpayer money.

If you have a Golden Visa, and you do not intend to live in Spain, you will have to take out private health insurance through a company which is allowed to operate in Spain. If you will live in the country and pay taxes, then you and your family members can make use of its health system.

Spain Golden Visa and Taxes

If you are not a full-time resident in Spain, then you do not need to pay income tax. You are considered a resident only if you live there for more than half the year (more than 183 days).

However, regardless of your residence status, if you have purchased a property in Spain, you still have to pay the relevant taxes, such as municipal and rental income taxes.

If you are not a full-time resident, you have to pay 24.75% on rental income or any other income obtained in Spain.