Processing the residency permit for non-European Union citizens can become a tedious task. At Lasose Properties & Investment, we’ll guide you on obtaining your residency permit quickly and easily.
What is the Golden Visa Spain?
The Golden Visa, also known as the ‘visa for investment in Spain,’ is a type of visa that allows you to reside and work in Spain after making a significant investment in the purchase of real estate in the country.
Firstly, it’s important to understand that there are two types of permits:
- Visa
When the applicant is outside of Spain, they obtain permission to reside and optionally work throughout the national territory. This permit is valid for one year. Once this process is completed, the applicant can apply for a residency authorization. - Residency Authorization
When the applicant is legally in Spain, they can obtain a 3-year permit to reside and work throughout the national territory if desired.
The Golden Visa allows foreign individuals planning to invest in real estate in Spain to obtain the visa automatically.
Who can apply for the Golden Visa?
The Golden Visa can be requested by individuals who make a purchase of one or several properties totaling a value of 500,000 euros or more.
It’s important to highlight that a key requirement is that the property must be free of encumbrances, meaning the applicant cannot have used a loan to purchase the property.
Requirements to obtain the Golden Visa
To obtain the visa or residency authorization, it’s necessary to meet a series of general requirements that prove the purchase of a property.
In the case of residency authorization, it’s important to note that the holder is not required to reside in Spain. The holder only need to be able to present the necessary documents and travel to Spain at least once a year to apply for the permit.
To review all the requirements and necessary documents, you can refer to the Residence for Investors and Entrepreneurs (PRIE) official portal.
Benefits of the Golden Visa
The Golden Visa offers a range of advantages to all its applicants. Firstly, it provides the opportunity to include your entire family, allowing them to qualify for the visa in Spain with the same investment.
This visa enables a joint application that can encompass the family: spouse or registered partner, children of the holder, or dependents in the first degree of the holder or their spouse or partner. Additionally, there’s no requirement to be a tax resident, and the process is very swift.
The Golden Visa also grants you the right to live and work in Spain for 2 years. After this period, there’s the option to renew for an additional 5 years. To qualify for renewal, you only need to demonstrate that you still maintain ownership of the property. Following this, permanent residency can be requested.
If you need more information or wish to explore the benefits we offer at Lasose Properties & Investments, feel free to get in touch with us. Our team of professionals will be delighted to assist you and provide personalized guidance to efficiently and profitably manage your property.
