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The Quick Route to EU Residency - Without living in Spain for 6 Months
30 March 2021 @ 07:14

 

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.

 



Like 2




8 Comments


Magnolia3bed said:
31 March 2021 @ 16:07

A really interesting blog, how does one go about applying for one of these if you reach the criteria and would the solicitor who represented you in you house purchase be the best person to ask?


eos_ian said:
31 March 2021 @ 19:12

Any lawyer would be able to guide you through the process. It is not very complicated but best to get professional assistance.


Magnolia3bed said:
31 March 2021 @ 20:41

Thank you Ian, this is something I will definitely be looking into.


dontim said:
03 April 2021 @ 09:25

I dont know who the author of this article is but I have doubts about two things written here.

They imply that you dont need to invest 500k initially to be elegible. What are they saying, that the visa is granted on the basis of an undertaking to eventually buy property up to 500k?

Also it says "The property can also be mortgaged for any investment exceeding the minimum amount." Does this mean you dont need to invest 500k equity?





eos_ian said:
03 April 2021 @ 09:31

What it is saying is that you don't need to invest the 500k all in one go you can add to it as and when you want to. You will only be eligible once you have invested and paid the 500k. Using a mortgaged property is allowed so long as the first 500k wasn't mortgaged.


crockett said:
03 April 2021 @ 09:39

Yes but remember once a resident you will be required to file and pay annual taxes!


Libelula said:
03 April 2021 @ 18:44

Don't forget the set up fees - which can be significant!


Richwiggy said:
05 April 2021 @ 15:13

You cannot include a property value bought before 2013, which l think is disgraceful
If your property is in joint names it has to be worth at least €1 million


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