Golden Visa
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What is a Golden Visa?

  1. What is a Golden visa?
    A Golden Visa is a type of residence visa, established by law 14/2013 of the September 27th September aimed for non-EU residents who wish to enter Spanish territory in order to carry out a significant capital investment.

2. The Benefits of a Golden Visa and Investing in Spain

  • The granting of a residence visa for non-resident foreign investors will constitute sufficient title to reside and work in Spain for at least 1 year.
  • Obtain a residence authorization for investors, which will be valid throughout the national territory. The initial authorization of residence will have a duration of 2 years renewable for successive periods of 5 years, as long as the conditions that generated the right are maintained.
  • Travel freely within the 27 countries in the Schengen area.(Germany, Austria, Belgium, Denmark, Slovenia, Spain, Estonia, Finland, France, Greece, Holland, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Norway, Poland, Portugal, Czech Republic, Slovak Republic, Sweden and Switzerland)
  • Allow to request visa or authorization for the family without making further investment: Spouse or person with analogous relationship of affectivity, children under age or older who, depending economically on the holder, have not constituted themselves a family unit and the dependent ascendants
  • A minimum residence period in Spain is not required for the renewal of visa or authorisation (the permit holder can maintain his fiscal address out of Spain).
  • Enjoy a residence in a European country, with a great appeal, stability, security and quality of life.

3. Significant Capital Investments Qualified for Golden Visa

A) An investment equal or higher than:

  • 2 million € in Spanish public debt titles.
  • 1 million € in shares or social participations of Spanish capital companies with a real business activity
  • 1 million € in investment funds, closed-end investment funds or venture capital funds set up in Spain
  • 1 million € in bank deposits in Spanish financial institutions.
    B)The acquisition of real estate in Spain with an investment of value equal to or greater than 500,000 euros for each applicant
    C) Developing a business project in Spain which is considered as being of general interest of the society, fulfilling one of the following requirements:
  • create work positions;
  • carry a positive socio-economic impact;
  • contribute to the scientific and/or technology innovation.

4. Specific Requirements: Real Estate Investment

  • Investment of 500,000 euros free of charges and encumbrances (the amount that exceeds the required investment can be subject to charges and encumbrances).
  • Submission of certificate including the continuous information of the possession and charges of the Land Registry Office corresponding to the property or properties.
  • If the foreigner has not formalized the purchase of the property but there is a precontract with guarantee, must present the pre-contract with guarantee together with a certificate from a financial
    institution established in Spain in which it is found that the applicant has an unavailable bank deposit with the amount necessary for the acquisition, fulfilling the committed contract, of the real estate or properties indicated, including charges and taxes. In this case, the interested party will receive a residence visa for investors of a maximum duration of 6 months. If the actual purchase of the indicated property or properties is proven, the interested party may request a residence visa for investors of one year or a residence authorization for investors.

5. General Requirements

  • Not having entered or stayed illegally in Spain
  • 18 years-old or more
  • No criminal records in Spain and in the countries where the applicant has lived during the last 5 years
  • Not appear as refused in any country which has a valid agreement with Spain in this sense
  • Have a health insurance with an authorized entity to operate in Spain
  • Have sufficient economic resources for the person and for the members of his family during his residence period in Spain
  • Pay the tax for the authorization process

6. Timeline

  • Visa applications will be resolved and notified within 10 working days, except in the case of applicants submitted for prior consultation to the central authorities of other States members
  • Investment Visa: 1 year
  • The residence authorization will be resolved in a maximum of 20 days from the presentation of the request in the competent body for processing.
  • Residence authorization: 2 years renewable for successive periods of 5 years, as long as the conditions that generated the right are maintained.

7. Taxes at the time of Purchase

A) Taxes at the Time of Purchasing a Property Directly from the Building Developer
VAT Dwelling House -10%
Non-built Plot of Land – 21%
Non-built Plot of Land – 21%
Stamp Duty -1.5%
B) Taxes at the Time of Purchasing a Property from a Resale
Transfer Tax First 400,000 € – 8%
Between 400,000.01 € and 700,000€ – 9%
From 700,000.01 € onwards -10%
C) Purchase a Property with a Spanish Mortgage
Stamp Duty – 1.5%

8. Other Taxes and Costs

A) Other Costs at the time of purchase
Public Notary and Land Registry fee -1
Additional Public Notary and Land Registry fee in the case of purchase with a Spanish mortgage -1%
Lawyer’s fee – 1% + VAT (21%)

B) Yearly taxes on being a property owner in Spain
Municipality Tax Varies less than 1%
Bins and Waste Collection Tax Varies less than 1%
Income tax on using the property as an owner known as “Legal rent” – 24.75% x (2% x property’s value)

Additional Public Notary and Land Registry fee in the case of purchase with a Spanish mortgage -1%
Lawyer’s fee – 1% + VAT (21%)
B) Yearly taxes on being a property owner in Spain
Municipality Tax Varies less than 1%
Bins and Waste Collection Tax Varies less than 1%
Income tax on using the property as an owner known as “Legal rent” – 24.75% x (2% x property’s value)

9. Taxes – Rental and at the Time of Sale

A) Rental received from third party
Income tax on rental received from third party – 24.75%
B) Taxes at the time of sale of a property