Spanish Golden Visa & Residence Permits for non-EU investors

In September 2013 the Spanish government introduced the new "Ley de Emprendedores".

This new law encourages entrepreneurs to contribute to the economic growth of Spain by the influx of foreign capital.

Spain is now granting the Golden Visa to non-EU citizens who invest at least €500,000 in Spanish real estate. Investment in multiple properties and co-ownership is also permitted.

The Golden Visa is expected to attract a large number of investors, especially from Asia & Middle East.

Plots Direct SL has qualified sales advisors who can help you to find the best property for you.

The investment activity must be performed before the application and maintained for a minimum period of 5 years after the residence permit is granted.

Duration of visa or residence permit

The investment will provide a visa for at least one year.

This visa is then renewed for 2 successive periods of two years, provided that the requirements of the investment activity are maintained, and the applicant must:

  • Be in possession of a valid visa, or a visa that expired less than 90 days before.
  • There is no minimum stay period in Spanish territory, but the holder of the Spain Residence Permit must travel to Spain (at least once) during the period preceding each renewal.
  • Sustain the investment.

Applications from individuals with a criminal record will be rejected.

If the application is approved, the decision to issue a visa will be granted and applicants notified within a period of 10 working days.

Application for The Spanish Residence Permit will be dealt with by the relevant authorities within 20 days after the submission of the application, which must include evidence that the financial or real estate investment has already been completed.

Plots Direct has established arrangements with qualified professionals to provide a consultation service for the obtaining of a visa or residence permit, and they will advise you during every phase of the application process.

The key to access Europe for you and your family

Travel freely, without a visa, to the Europe Schengen Area. The holders of a Spanish Residence Permit (Golden Visa) will not require a visa to enter the Europe Schengen Area. You can enjoy free movement in the Schengen Area for a maximum period of 3 months (90 days) per half-year form the date of first entry.

Other countries which do not belong to the Schengen Area but which guarantee the free movement of people are: Andorra, Monaco, San Marino and the Vatican City.

Visas and residence permits apply to both the spouse of the applicant and their children under 18.

I would like to invest in Spain, but I don’t know about the legal or tax aspects

Plots Direct SL collaborates with independent Spanish lawyers and independent fiscal accountants. These firms specialise in advising foreign investment by both individuals and companies.

Plots Direct SL ensures that these firms will provide the best legal and tax assistance to help every aspect of your investment. They will also assist with all the paper work required during the entire process of the property or financial investment.

Frequently Asked Questions

When investing in property, must the property be free of mortgage?

Not necessarily, as long as the contribution of private funds is above 500,000€.

This means you can buy a property with a mortgage as long as the difference between the purchase price and the mortgage is over 500.000€.

If you purchase a property that does not have an existing mortgage but you still require one to complete the purchase, you can take out a loan and mortgage the property yourself, as long as this still results in a personal investment of 500.000€ in addition to the loan.

Does having a Spanish residence permit entitle me to healthcare in Spain?

Not automatically, unless you contribute by paying into the social security system on a monthly basis once you live here. As the granting of a visa does not automatically entitle you to health benefits, we advise you to have private health insurance.

Can I transfer my money from anywhere in the world?

Yes, but you should be able to provide evidence of the source of funds to demonstrate that the money comes from legal sources and is not involved in criminal or illegal activities.

Also, if the fund comes from a tax haven, a declaration procedure should be performed in advance in the Register of Investors, a specific department of the Ministry of Economy in Spain.

Why invest in Spain?

The Spanish economy is improving, yet property prices remain low, providing ideal circumstances for excellent investment opportunities in real estate:

  • Spain is the fourth largest economy in the Eurozone (after Germany, France & Italy) with many leading Spanish companies dominant in their respective world markets.
  • Spain has reformed it’s fiscal and labour policies to encourage corporate investment.
  • Very high returns are possible on property investment. Due to the excellent rental market (both holiday and residential) rental yields are extremely high in Spain, particularly coastal areas.
  • Robust business climate with competitive labour rates and high quality of infrastructure.
  • Spain offers world leading business opportunities in tourism, agriculture, renewable energy, biotechnology, aerospace, automotive, fashion, medical, logistics/transport, environment, water treatment, sport/leisure and banking industries.
  • Superb quality of life: a rich historical and cultural heritage, world-renown gastronomy, an exceptional climate and over 8,000km of coastline.

Is now the best moment to invest in Spanish property?

The short answer is YES.

A report published by the National Institute of Statistics shows a 60% drop in prices since 2008.

Prices have now stabilised. The best transactions are being made now taking advantage of the fact that properties in prime locations are coming onto the market. These are the first being sold due to their good quality/price relation. For these reasons now is the right moment to invest in Spain.

Other alternatives to obtain Visa & Residence Permits

The law grants residence visa concession to foreign investors that comply with the following requisites:

  • That they buy a property with a value of more than €500,000
  • That they acquire Spanish Debt Bonds of at least 2 million €uros (Major shareholders of foreign companies who invest in Spain may individually obtain the Golden Visa.)
  • That they transfer capital of at least 1 million €uros into the Banking system or Spanish companies.
  • That they create a business venture that leads to job creation, local economic development or scientific-technological contribution. In this case, it will be necessary to show an affirmative report issued by the ‘Dirección General de Comercio e Inversiones’, Spain’s Directorate-General of Trade and Investment of the Ministry of Economy.

For further information please contact us with the subject: VISA.
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