The Quick Route to EU Residency - Without living in Spain for 6 Months
Tuesday, March 30, 2021 @ 7:14 AM
The Spanish Golden Visa is an excellent way for a non-EU resident to get automatic residency and free right of movement around the Schengen area of Europe. Many countries offer this type of visa for non-EU nationals but the Spanish Golden Visa has many more advantages over those offered in other countries and is most certainly worth considering if you are after EU residency, especially after Brexit. The Spanish golden visa program has been very popular because it is clear and very prompt. An investment of €500,000 € in the real estate sector will give you the right to family residency. The visa can be renewed every second year and after five years it is possible to gain permanent residency and then after ten years, it is possible to gain citizenship. One main advantage of the Spanish golden visa program is that it is not necessary to live in Spain in order to retain and renew the residency visa permit.
So what is required to get the Spanish Golden Visa?
The easiest and most normal way to get the Spanish Golden Visa is through the purchase of a property or multiple properties for which you have paid at least a total sum of €500,000. This is the minimum investment. As stated you don’t have to do this in one go, you can buy various properties and spread out your investment. The property or properties, either residential or commercial can be rented out for income. Also, joint investors can combine investments into one or several properties. The property can also be mortgaged for any investment exceeding the minimum amount.
Briefly, what are the advantages of The Golden Visa in Spain?
1. It can be for one or multiple properties
2. It can be anywhere in the country and isn’t limited to one specific location.
3. There is no time limit to meet the investment minimum. You can buy one property now and add then add to your 500k investment portfolio further down the line.
4. Previously bought properties can also be included in your 500k investment portfolio. If you already have a property in Spain that can be used as a part of the investment or if you have already paid over 500k for it then you have already met the requirement.
5. It allows the whole family unit to have freedom of movement in the Schengen area of Europe. This includes children under 18 and parents if they are dependant on you. Children over 18 will need to apply independently unless they are legally dependant on you as well.
6. You do not have any obligation to be in the country, not even for 6 months. Even if you don’t spend half the year in Spain, which is a requirement of a normal residency visa, you will not lose your Spanish Golden Visa.