Spain Golden Visa 2021: Everything you need to know

If you’re a non-EU citizen (us Brits now included) and looking to buy a property in Spain, you’ve more than likely come across Spain’s Golden Visa policy.

For those that haven’t, the visa offers you and your family members residency in Spain, as well as visa-free access across the Schengen Area, comprising of 26 European countries.

But how can one obtain a Spanish Golden Visa? What are the requirements, extended benefits, and how long is it valid for? If you’d like to know the answers, then stick with us. Here, we explore everything you need to know about the Spanish Golden Visa in 2021.

Who can apply for a Spanish Golden Visa?

In most cases, Spain Golden Visas are issued to someone who makes a significant investment in real estate. However, the visa is also available to businesspeople who invest in a Spanish company, which is why it’s often referred to as the Spanish Investor Visa as well.

To be eligible for a Spanish Golden Visa, you must make one of the investments listed below:

• Purchase real estate in Spain worth at least €500,000. This can be a single unit or several, as long as the overall worth exceeds the stated amount of €500,000.
• Make a deposit into a Spanish Bank or buy shares into a Spanish company of at least €1,000,000.
• Invest into the Spanish public debt with at least €2,000,000.
• Invest in a new business that will offer employment opportunities in Spain, contribute to scientific and/or technological innovation and have a relevant socio-economic impact in the area where the business will be commenced.

In addition to making one or more of these investments, you must also meet the following criteria:

• Be of legal age (+18 years old)
• Have no history of criminal records for the last 5 years
• Have health insurance in Spain
• Have not previously been refused a Schengen Visa

How do you apply for a Spanish Golden Visa?

If you’ve met the criteria listed above, then great, you can submit a visa application to the nearest Spanish Embassy or Consulate. This can be made personally or through an authorised representative, and is not necessary for the applicant to physically be in Spain.

It’s also good to know that while you must be committed to making the investment when applying for a Spanish Golden Visa, the investment doesn’t necessarily need to be finalised.

Eligible family members, including your spouse and children under 18 will receive residency permits. Other family member, including children who are not minors but are dependent due to health or mental conditions, as well as dependent elderly parents, will have to provide documents and apply for their own visas as dependents. All required documents, such as passport, proof of medical insurance in Spain, visa application form, proof of investments and policy records, must be legalised and translated into Spanish.

Once the application has been submitted, the Spanish authorities will accept or reject the application within 20 days. If approved, you must then have your visa collected from the Spanish Consulate within one month. You will then need to visit Spain physically to obtain your residence permit.

Benefits of a Spanish Golden Visa

Aside from being able to enter and leave Spain as you please, why else should you consider a Spanish Golden Visa?

• EU Rights – A Spanish residency permit means you can live, work and study in Spain.
• Travel-visa-fee – Since Spain is a member of the EU, a Spanish Golden Visa gives you the right to travel visa-free to 26 countries in the Schengen zone.
• Easy renewal – The residency permit can be easily renewed, and you only have to visit Spain once a year to maintain it.
• Family residency – Both your spouse and children under the age of 18 are guaranteed residency permits.

How long is the Golden Visa for Spain valid?

Your Golden Visa will be valid for one year. During this year, you must enter Spain and exchange your visa for a Spanish residency permit. This lasts for two years.

Your residency permit can then be renewed over and over, as long as you maintain your initial investment. In order to renew your residency, you will need to visit Spain each time.

Although, if you plan to live in Spain as your primary home, you can apply for what’s known as permanent residence. This can be applied for after five years of continuous residency, which involves staying in Spain for at least 6 months each year.

Moving to Spain with a Golden Visa

Are you looking to obtain a second home in Spain and enjoy it as you please? If so, get in touch with our Spanish property experts at Purple Property today. With an extensive range of properties above the €500,000 Golden Visa requirement, combined with over 25 years’ experience and focus on service, we can guide you through every step of the way towards your dream home in Spain.

Why not learn more about our customer-tailored viewing trips, or reach out with any Spanish property related questions you may have – we’re more than happy to help.