Golden Visa.
The Gold Visa Spanish residence for foreigners Foreign real estate investors can, from September 27, 2013, obtain a Spanish residence permit by purchasing one or more homes.
Who is eligible for the Golden Visa?
To be eligible you will need to invest in a Property For Sale in Spain of a minimum of 500,000€ per person in cash, Applicants can also invest €2,000,000 in Spanish government bonds. Mortgages and loans can only be used if supplementary to the cash investment – we can also help you to secure a favourable mortgage, if required.
The Spanish residence permit “Visa Oro” will allow the foreign investor to reside in Spain and travel throughout Europe, thus promoting the Spanish real estate market.
LuxuryForSale.Properties team can help you obtain Spanish residency by answering all your questions and putting you in touch with a specialist who can help you find the best solution to quickly obtain Spanish nationality by residence.
To obtain this gold visa, investments must satisfy one of the following conditions:
– Make an investment worth € 500,000 or more, must be free of charges.
– The applicant must prove that the investor is the owner of the property or real estate for the minimum amount of € 500,000. To do this, you must provide the certificate or certificates of ownership from the Property Registry that corresponds to the property or properties.
-To buy a home, it is only necessary to have the NIE. It is not mandatory to have a bank account in Spain, although it is recommended.
Luxury Real Estate For Sale & Rent | LuxuryForSale.Properties.
– Have a public or private health insurance authorized in Spain.
– Other usual requirements such as: Not being illegally in Spain, being over 18 years old, not having a criminal record and having health insurance. Visas are granted for two years, and can be renewed after two years as long as the criteria are still met.
The golden visa is a passport to the european market and to an european lifestyle. This is an opportunity you shouldn’t miss. Spain is a country with a high quality of life, low cost of living, beautiful beaches, cosmopolitan cities, excellent food and nice and warm people.
Since the introduction of the new ‘Proyecto de Ley de apoyo a los emprendedores y su internacionalización’ legislation in October 2013, non-EU investors can apply for permanent residency in Spain. This residency permit is often referred to as the ‘Golden Visa’, and it allows free movement between EU member states. These visas are clearly not for everyone. The minimum qualifying investment is, in every case, a substantial sum of money. But government representatives in all countries report that interest is high. Most interest comes from China with significant further interest coming from Russia, India and various other countries in Africa, South America and Asia.
GOLDEN VISA – Residence permit for non-EU investors.
LuxuryForSale.Properties Investor and residency permit team specalise in help Non-EU investors take advantage of the new opportunities that now exist in Spain after the Spanish Parliament approved the law which allows non-EU buyers to become Spanish residents when purchasing properties above €500,000. The Spanish resident visa allows entry to all European Schengen countries. This measure is to promote foreign investment in Spain. Taking effect in 2014 the “Golden Visa” is expected to attract a large number of investors, especially from Asia and the Middle East (as already seen in Portugal and Cyprus).
Summary of the new law on Residency for Real Estate Investors
Extract taken from Spanish Law 14/2013, of 27th September, on support for entrepreneurs and internationalization, published in the Official State Gazette, with regard to real estate investments.
Article 63. Investor Residency Visas.
1.Non-resident overseas nationals wishing to come to Spain in order to invest significant amounts can apply for an entry visa, or where applicable, an Investor Residency Visa.
2.Real estate investment is understood to mean a significant investment of capital in the acquisition of property in Spain with a minimum of 500,000 euros per applicant.
3.Overseas nationals applying for this visa will also be understood to have made a significant investment where the investor is a legal entity, domiciled in a territory not considered as a tax haven under Spanish legislation, and where the applicant directly or indirectly holds majority voting rights and is authorized to appoint or dismiss most of the members of the governing body of that entity.
Article 64. Accreditation of the investment.
In order for an Investor Residency Visa to be granted, the applicant must previously accredit the acquisition of the property by way of certification of ongoing ownership and encumbrances, issued by the Property Register for the property or properties in question. This certificate will include an electronic validation code for online consultation. If at the time the visa application is made, the acquisition is in the process of being listed on the Property Register, it will be sufficient to present a certificate confirming receipt of the acquisition document, together with documentation accrediting payment of the applicable fees. The applicant must provide evidence of an investment in property of at 500,000 euros, free of liens and encumbrances. Any amount invested in excess of the minimum amount may be subject to liens or encumbrances.
Article 65. Effects of Investor Residency Visas.
Once granted, the investor residency visa will entitle the applicant to reside in Spain for at least one year.
Article 66. Investor Residency Permit.
1.Overseas investors wishing to reside in Spain for over a year must obtain an investor residency permit, which will be valid for the entire country.
2.Investor Residency Permit applicants must:
- a) Not be illegally resident in the Spanish national territory.
b) Be aged 18 or over.
c) Have no criminal record in Spain or other countries of residence during the previous five years for acts set forth in Spanish Law.
d) Not be liable to refusal of entry into countries with which Spain holds an agreement to this effect.
e) Hold entitlement to public medical treatment, or hold private medical insurance cover with a company authorized for operation in Spain.
f) Hold sufficient funds to support both the applicant and his/her family members during residency in Spain.
g) Pay the relevant application fee.
h) Hold a current investor residency visa or submit the application within ninety calendar days of expiry thereof.
i) Have travelled to Spain at least once during the period of authorization.
j) Provide proof that the investor is the owner of the property or properties for the minimum amount required in this
This must be provided in the form of an ownership certificate or certificates from the Property Register for the property or properties in question, and must be dated no more than 90 days prior to submitting the application.
k) Comply with all tax and Social Security obligations.Article 67. Duration of Investor Residency Permit.
1.The initial Investor Residency Permit will be valid for two years.
2.After this period, overseas investors interesting in continuing to reside in Spain must apply for renewal of their Residency Permit for a further two year period. After this 1+2+2 period the investor can apply for a 5 year visa for himself and its family (including kids till the age of 18)
Successful applicants will, initially, receive a one-year, temporary residence visa which can be renewed twice for two year extensions.
Applicants in all countries can apply to bring their spouses and dependent children with them.
Let us know if you are interested in obtaining a Golden Visa and we will be able to tell you if you fulfil all of the necessary criteria. LuxuryForSale.Properties can put you in touch with experienced Lawyer in Marbella area, who can assist your application for a ‘Golden Visa’.
How can LuxuryForSale.Properties help you with your residency permit in Spain?
LuxuryForSale.Properties have a dedicated team that speaks all the major languages in the world including Arabic, Chinese and Russian.
We offer the complete package so you don’t have to worry about a single thing. We take care of the whole package of sourcing you the right property that qualifies you for the Golden Visa in Spain. We then take care of your whole residency permit application throught to its completion. We keep you informed every step of the way and our team is available to you through this whole process
For more detailed information about the Golden Visa please fill in the contact form below and we will get someone to call you back in your own language.
What does Costa del Sol and Marbella have to offer?
With the arrival of the Golden Visa in Marbella for property purchase over 500,000 Euros there is no doubt Marbella is the chosen destination for these property buyers and this will only help boost the property market in Costa del Sol and take excess stock from the market. If you have 200,000 Euros or more to spend then now is a good time to buy property in Costa del Sol
