Are you eligible for a Spanish Golden Visa?
In order to obtain a Spanish Residency permit by means of the Spanish Golden Visa scheme, you must make an investment in Spain. However, not just any investment will do. It must comply with the criteria exposed in the Spanish Entrepreneurial Act of 2013 in order to make you eligible for the Residency.
The first but not the only way to obtain the permit is by making a capital investment. And perhaps the easiest, most profitable and secure investment is in real state. The conditions are that you must be using at least €500,000 of your own funds to start with. However, above that threshold there is no limit to debt financing, for instance with a mortgage in Spain.
When making an investment of this type, there are specific taxes and fees one must consider.
- a) VAT or transfer Tax: up to 10%
- b) Stamp Tax, if applicable: 1%
- c) Land Registry, Notary and legal fees: up to 2%
So, it is important to keep in mind that, in order to apply for the Spanish Golden Visa, the total amount needed will rise approximately another 13% in order to actually be able to make the investment.
An alternative to acquiring real state is buying Stock shares of a Spanish Company; in this case the amount rises to 1.000.000€ or more. Other options are depositing 1.000.000€ or more in a Spanish financial company or acquiring Spanish Treasury Bonds worth 2.000.000€ or more.
Lastly, you can also invest in business projects classified as “of general interest” if you can prove that the business will have a positive effect in job creation, or make a social or economic impact in the geographical area of the investment, or if it represents a significant contribution to scientific and/or technological innovation. The residency permit obtained by this type of investment requires the approval of the relevant Spanish authorities.
As you know, a Spanish Residency permit gives you access to all “Schengen” countries, including Austria, Belgium, Denmark, Finland, France, Germany, or Switzerland, amongst many others.