Real estate investment in Spain and residence permit
Real estate investment in Spain allows you to obtain a residence permit, an ideal option for entrepreneurs who want to stay legally in the country and obtain a Golden Visa.
This type of permit was introduced in 2013 by Law 14/2013 as a way of attracting investment to the country, and is a great support for entrepreneurs who wish to internationalise.
Among the main requirements are that the applicant does not live in any member country of the European Union and that he/she invests 500,000 euros or the equivalent in dollars in real estate.
They must also not have any criminal record and must demonstrate a relationship with the other applicants, if they wish to migrate with their family.
Benefits of the Golden Visa
The main benefit is the granting of a residence permit to foreigners who invest in Spain. Holders of this visa will obtain a visa as an investor for one year. This permit can be extended to 2 years and can be renewed for a further 2 years.
After five years, investors will be able to apply for a permanent residence visa. After ten years, they will be able to apply for Spanish citizenship.
How to obtain the Golden Visa
The most popular way to obtain the permit is through the acquisition of one or more properties valued at 500,000 euros or its equivalent in dollars.
However, there are several ways to obtain this visa and these include:
- Investment of 2 million euros in public debt.
- Investment of 1 million in shares of Spanish capital companies.
- Investment funds, private equity funds established in Spain, closed-end investment funds valued at 1 million dollars.
- Deposits of USD 1 million in financial institutions in Spain.
- Investments in business projects in Spain. There is no minimum amount.
If any person meets any of these requirements, they are eligible to apply for the Golden Visa.
Steps to apply for a Golden Visa in Spain
This is what you should do if you are interested in applying for a Golden Visa:
1. Travel to Spain with the travel visa and locate a property.
2. After having signed the pre-agreement of purchase and sale, and having deposited the amount that has been arranged for this, you can apply for the Golden Visa. If required, the authorities may give a 6 month permit to complete the purchase of the property.
3. If the application, which can be submitted from Spain, is approved, the visa will be granted for one year.
4. After receiving the visa, it is possible to continue renewing it as long as you maintain the investment threshold. After 5 years you will be eligible for permanent residency and after 10 years for Spanish citizenship.
Marbella is one of the best options to buy a property
Marbella’s location and status in the European Union are great attractions when choosing a property in this city. There are also other factors that make it a good place to invest in real estate.
- In the centre of Marbella, there are high rental yields and give investors the great possibility to receive a regular income from the investment.
- Investors can buy property in Marbella directly or through a registered company as long as the address does not belong to a tax haven.
- Marbella is home to one of the best international schools in Europe.
- The lifestyle in Marbella is healthy, with mild weather conditions 365 days a year, excellent restaurants, beautiful beaches and incredible sea views.
If you meet any of the requirements you can apply for the Golden Visa and start enjoying this city soon.