The popular Golden Visa is the name given to the residence visa in Spain, which is granted to investors. Specifically, it is a document that aims to support those foreigners who wish to make an investment in our country, especially in the real estate market. Everything related to it appears in the Law of Support to Entrepreneurs as approved by the Government of Spain on September 28th, 2013. Here we aim to resolve all the doubts you may have about it.
Who can apply for the Golden Visa?
Any foreign person who is not born in a country belonging to the European Union and wishes to carry out an investment of at least 500,000 euros in the Spanish real estate market. This amount does not include taxes and, in addition, must only be used for purchasing a property. The investment cannot be financed through a mortgage or loan.
Is it obligatory to invest the 500,000 euros in a house?
Relatively. For example, if you analyse and compare houses in Madrid and later discover that the one you really want to buy has a value lower than 500,000 euros, you will still need to invest the remaining amount in the real estate market in order to obtain the investors' residence visa in Spain. For example, if the property costs 350,000 euros, you will have to use the remaining 150,000 euros on any type of real estate you want
What are the other investment alternatives to purchasing a property?
It does not matter if the property you want to buy does not reach the 500,000 euros referred to by law. In fact, at Engel & Völkers, one of the most well-known and prestigious luxury real estate companies in the world, we are accustomed to dealing with such cases. Undoubtedly, the best option when it comes to this situation is to invest the remaining amount in EXCEM, a real estate investment and management company that collaborates with us and complies with the requirements that are established by law to help foreign investors get their residence in Spain.
Where is the visa application for resident investors in Spain?
If you have searched for a house in Madrid, found one that you liked and it meets the requirements we have discussed here, you will have passed the most difficult stage. Subsequently, you must go to the Consulate of Spain and apply for the Golden Visa. You will also need to attach some additional documents, such as a Passport with at least one year of validity, a couple of recent photographs, and a criminal record certificate.