The Golden Ticket to residency in Spain
Post Brexit, many UK citizens who want to live in Spain, are wondering how they can stay longer than the 90 days permitted to non-EU citizens.
There are a few options to consider, but here is one popular solution...
THE GOLDEN VISA
WHAT ARE THE BENEFITS OF OBTAINING THE GOLDEN VISA?
There are many benefits to obtaining this visa, among others:
- It allows you to enter and stay in Spain for a whole year, however, it also allows you to obtain a new type of residence permit which can be requested during the duration of the visa, and which is valid for two years. It is then renewable for a period of five years at which point you can apply for Spanish residency if you so wish.
- It does not entail the minimum period of residence in Spain of 183 days for its renovation (the beneficiary can keep his or her tax residency outside of Spain).
- It allows you to circulate freely and without restrictions in the “Schengen” area (Spain, France, Germany, Austria, Belgium, Denmark, Estonia, Finland, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Czech Republic, Liechtenstein, Luxemburg, Malta, Netherlands, Norway, Poland, Portugal, Slovenia, Slovakia, Sweden and Switzerland).
- You can live and work in Spain legally.
- You can bring family members with you.
- You will have access to public services such as health services and schooling
HOW TO OBTAIN THE GOLDEN VISA...
The Golden Visa can be obtained in several ways:
The purchase of a property or several properties in Spain valued at or with an overall value of 500,000€ or more with own funds (please note that the associated costs and taxes are not included as part of the investment.
Investing in real estate in Spain is a great investment - See all our properties here.
This is a very popular option with our clients, however there are other ways to obtain this visa:
Investing in a new business project in Spain. It would need to be a business that is considered as being of general interest to society, fulfilling one of the following requirements:
- Create employment.
- Have a positive socio-economic impact.
- Contribute to scientific and/or technology innovation.
See our Business and Investment opportunities here
Acquire shares in a Spanish company/companies or make a deposit in a Spanish bank for no less than one million Euros.
Making an investment of no less than 2 million euros in Spanish government bonds.
* To be eligible for the Golden Visa You must be over 18, have no criminal records, not have been refused a Schengen Visa in the past, to be in Spain on a regular basis and have private health insurance with full coverage issued in Spain.
WHO CAN BE INCLUDED ON THE VISA?
The family members of the investor are included on the visa, specifically:
- The Spouse.
- Children who are under the age of 18 or dependent adults who have physical or mental health issues or are unmarried and still dependent on their parents.
- Dependent elderly parents.
SPEAK TO ONE OF OUR AGENTS FOR MORE INFORMATION! If you’ve been thinking about moving to Spain and are interested in investing in a property, leave your email and number and one of our agents will get back to you (office hours).
We have access to every available property from Málaga to Estepona.
DON’T HAVE SO MUCH TO INVEST?
HERE ARE SOME OTHER OPTIONS...
- To set up your own company in Spain. This involves meeting the legal requirements in relation to the creation and operation of a business activity, having the necessary professional qualifications and enough professional experience in relation to the business activity, having the resources required for developing and undertaking the business activity, obtaining authorisations and licenses required for developing and undertaking the business activity, and submitting an establishment plan. All that documentation and information must be submitted to the Spanish authorities, who should approve the business in Spain.
- To have an employment contract in relation to a job included in the “catologo de ocupaciones de dificil cobertura”. Which is an official list of occupations for which there is insufficient supply of suitable workers. This kind of residency shall be applied for by the employer and approved by the Spanish Authorities. The applicants will not pay taxes in Spain if they do not live in Spain for more than 183 days.
To apply for non-lucrative residency, the following legal requirements must be met:
- You must have sufficient financial resources for living in Spain. The amounts for 2021 are 27,200 € for the main applicant, plus 6,800 € for each family member approx.
- No criminal record.
- Not to be in Spain on an irregular basis.
- Health insurance issued in Spain with full coverage.
- Medical certificate showing that the applicant does not suffer from any physical or mental illness that would pose a threat to public health.
- Proof of residence (to be evidenced by registration in the “Padrón Municipal” (local census) kept by each Town Hall).
The residency is granted for a year and if you wish to renew it, it will be necessary to prove that you lived in Spain at least 6 months.
Please note that this type of residency must be applied for at the Spanish Consulate in the country of origin.
Please note that with a non-lucrative residency it is possible to live in Spain, but it is not possible to work here.
European Family Member Residency
To apply for a Family Member Residency, the following legal requirements must be met:
- To be the spouse, civil partner or child of a European citizen or to be a family member dependant of the European citizen which should be Spanish resident.
- Health insurance issued in Spain with full coverage.
- To have in a current account of at least 6,800 € approx. (The applicable amount for 2021).
- Proof of residence, to be registered, together with the EU citizen, in the local census “Empadronamiento Colectivo”.
- Proof of the family connection.
This residency is granted for 5 years.
Please note that it is necessary to apply in Spain for this type of residency.
If successful, the applicant has the same rights and obligations as a European citizen.
Under this kind of residency, it is possible to work in Spain and to enter and exit the country freely.
Special cases for students, research etc.
There are other specific situations which have to be studied on a case-by-case basis.
If you are looking to move to Spain and wish to buy a property that is less than the minimum amount stipulated by the Golden Visa, then please do book a call with us and we’ll be happy to answer any questions and help you to search for your new home with confidence.