Gain Spanish residency via a golden visa by investing €500,000 in Spanish property!
If you are planning on purchasing a property in Spain and intend to spend more than 90 out of 180 days there then you will need to acquire a Spanish long stay visa. One popular option is an investors and entrepreneurs visa, also known as a golden visa.
Unlike other visas, the golden visa allows you to live and work in Spain.
It is also very easy to bring your family to Spain with you. Your spouse, children under 18 and even parents who may be financially dependent on you are covered by this visa.
The golden visa only requires that you visit Spain at least once a year and once granted it can be renewed.
If you do live in Spain on this visa then you will be eligible for permanent residence in Spain after 5 years.
The golden visa is designed for those making an investment in Spain including purchasing a property. The property must be worth more than €500,000 and be purchased without the help of financing for you to qualify. You would also qualify if you were to purchase several properties totalling over €500,000. The property must have been purchased after 2014.
You must also be able to prove you have sufficient economic means to support yourself and any family members who will also be applying for residency (*see below for details).
You must have public or private health insurance giving you full coverage in Spain covering you for the full first year as a minimum and have a clear criminal record.
*The required economic means is calculated using the Spanish IPREM; a Spanish index which gives an income benchmark. The IPREM for 2022 is €579.02 per month.
To apply for a golden visa you must be able to prove that you will have 400% of the IPREM in your bank account monthly plus an additional 100% for each additional family member.
400% of this equates to a monthly income of at least €2,316,08 or a total of €27,792.96 annually. If there are two of you applying for the visa then this increases to 500% which equates to €2,895.10 per month or €34,741.20 annually and so on.
If you have enough in your account to cover the year then there is no need to prove you have any kind of monthly income. You just have to prove that you have or will have enough to cover the whole year.
Supporting documents when applying for your non-lucrative visa may include bank statements, a letter of employment stating your salary, pension documents and so on.