The "golden visa" program in Spain: opportunities and conditions

The "golden visa" program in Spain

The 'golden visa' program in Spain was launched in 2013 to attract foreign investors who wish to obtain temporary residency in Spain. This program offers several options for obtaining a residence permit: purchasing real estate worth at least €500,000, investing in government bonds for a minimum of €2,000,000, depositing at least €1,000,000 in a local bank, or creating a business project that contributes to the socio-economic development of the country.

Advantages of buying real estate

Most investors prefer to purchase real estate as it is a more promising option. Changes in the program, which came into force in April 2017, have expanded the opportunities for participants, allowing them to obtain a residence permit not only for themselves, their spouse and minor children, but also for their civil partner, parents and dependent relatives. partner, parents and dependent relatives.

Simplifying the application process

The application process for a residence permit has been simplified; it can now be submitted immediately after signing a preliminary contract, without the need to leave the country or obtain an investment visa. Holders of the 'golden visa' also have the right to work in Spain.

Conditions and terms of residence permit

The initial residence permit is issued for two years, which allows permanent residence in the country, free movement within the European Union and provides children with access to local educational institutions. It allows permanent residence, free movement within the EU and access to local educational institutions for children. At the end of the term the document can be extended for five years and, if investments are maintained, an unlimited number of times.

Obtaining permanent residency and citizenship

After five years of living in the country, investors can apply for permanent residency, and after 10 years, for Spanish citizenship. Only those who have purchased real estate without using a mortgage are eligible for residency. The investment amount of €500,000 can be divided among several properties.

- Copy of the real estate purchase agreement
- Valid passport
- Statement
- Four photographs sized 2x3 cm
- Certificate of no criminal record and medical report, translated into Spanish.
- Health insurance and a bank statement confirming the availability of funds

The 'Golden Visa' program in Spain:

The 'Golden Visa' offers the opportunity to invest €500,000 in any real estate, including land plots. This program started back in 2013. The visa processing time ranges from 1 to 2 months, making the process quick and accessible.

Additional information about the program:

When purchasing real estate with a loan, you need to contribute your €500,000. The program also allows close relatives of the investor - spouse, children under 18, and parents - to obtain residency permits.

Privileges of 'Golden Visa' holders:

Golden Visa holders have the right to work, rent accommodation and receive education in Spain. Spain. They can also travel visa-free to European countries. The term of validity of the residence permit is valid for 2 years, with the possibility of extending it for a further 5 years or applying for permanent residence.

Choosing real estate with a budget of €500,000:

• Renovated mansion on the Orihuela Costa coast just 800 meters from the sea with a private pool for €539,000.
• Villa by the sea in Torrevieja with a 1000 square meter plot and a pool for €745,000

Flexibility of the 'Golden Visa' program:

The 'Golden Visa' program does not require you to invest the entire amount in a single property. You can divide your investments among several interesting houses and apartments, which will allow you to have a stable rental income and residency in Spain.

Changing the budget and choosing real estate:

Depending on your financial capabilities, you can either increase your budget and property or choose the minimum amount to participate in the program.

Investing in real estate with minimal cosmetic repairsallow significantly lower costs, but yield similar returns compared to buying a new property. This makes such investments more profitable and economically feasible.

Distance from the sea

When choosing real estate for permanent living, it is important to consider the distance from the sea. Living on the front line can be uncomfortable due to humidity and winds in winter, and in summer due to sand getting into the premises. However, properties on the front line are ideal for renting out.

Golden visa program

One of the attractive aspects of the Spanish 'golden visa' program is the ability for investment visa holders not to necessarily move to the country immediately after obtaining their documents. They can enjoy all the benefits of temporary residency, including visa-free travel, earning income from Spanish real estate, and enrolling their children in local educational institutions. Holders can visit Spain for a few weeks each year or even not come to the country at all, while still retaining the rights and privileges of temporary residency. When the time comes, it will be easy to motivate the desire to move to the coast and enjoy the sun on a permanent basis.

This material from the book 'Residence Guide -2018' is a valuable source of information for all, who are interested in overseas real estate and would like more detailed advice. It is important to consider all factors when choosing a property in order to make the right and profitable investment. Real estate requires constant care and maintenance, so owners need to be prepared to incur additional expenses for its maintenance. The 'golden visa' program is a great tool for those who want to purchase a real estate abroad without losing their temporary residence in their home country. Owners are entitled to enjoy all the benefits of temporary residence and move to the sea at any time.

Unique opportunities of the "Golden Visa" program in Spain

The high demand for Spain's 'golden visa' program continues to grow, attracting foreign investors with various investment options. However, most prefer to purchase real estate, considering the recent changes in the program that have expanded the list of relatives eligible for residency. It is important to note that investments do not necessarily have to be directed towards a single property worth €500,000 – this allows for the selection of different real estate assets depending on the investor's goals and needs.

Necessary documents and minimum investments

To obtain a residence permit, certain documents are required, as well as a minimum investment of €500,000. The program offers the possibility of extending the residence permit, a work permit, education for children in local schools and universities, as well as visa-free travel within Europe.

Real estate investing tips

I recommend that those who plan to use the property personally buy new properties, while for rental purposes, it is more advantageous to consider secondary housing. This program opens up opportunities for generating stable income through renting out multiple properties, which can not only provide a residence permit but also serve as a foundation for long-term living or relocating to Spain on a permanent basis.

Advantages of investments starting from €500,000

Considering these factors, an investment of €500,000 is an attractive opportunity for those looking to purchase real estate on the Costa Blanca and obtain residency in Spain.