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A Comprehensive Guide to Spain’s Golden Visa Program for Expats

Moving to a foreign country can be an exciting yet challenging endeavour especially since Brexit for the Expat community. For many expatriates seeking new opportunities and a change of scenery, has led to Spain emerging as a popular destination. Spain offers an attractive pathway for non-European Union (EU) citizens to gain residency through the Golden Visa program. In this blog post, we will provide an overview of the Golden Visa process in Spain and offer some helpful tips to navigate through the application process smoothly.

What is the Golden Visa Program?

The Golden Visa program is to help those looking to reside in Spain who are non EU citizens by an investment scheme introduced by the Spanish government in 2013. It offers non-EU citizens and their families the opportunity to obtain residency permits in Spain by making significant investments in the country ( minimum €500,000 in real estate purchase excluding tax). The program was brought in by the Spanish government to attract foreign investors outside of the EU  and  to stimulate economic growth.  Once a golden Visa is obtained, you will have the freedom to enter/leave as many times as you like and for any amount of time whilst also having the additional benefit of being able to work in Spain should you so wish. You are eligible for non-residents tax if you stay in Spain for 182 days or more in the year.

Eligibility Criteria:

To be eligible for the Golden Visa program in Spain, applicants must meet certain requirements, these include the following:

  1. Being at least 18 years old
  2. Having no criminal record
  3. Having valid health insurance
  4. Proof of sustainable funds – €28,200 (income, savings or a combination totaling) +€7,200 per dependant/family member, these figures are per annum.
  5. Proving the origin of funds for investment
  6. Making a qualifying investment in Spain, such as real estate, business projects, public debt, or bank deposits.
  7.  Different Types of Investments:
  1. Real Estate: Investing a minimum of €500,000 in residential or commercial property excluding tax. This includes multiple properties totalling €500k or more
  2. Capital: Investing a minimum amount  of €1 million euros  in shares of Spanish companies or investment funds( please be aware that it is a Spanish registered  business you are investing in if you choose to go this route).
  3. Job Creation: Creating employment opportunities by starting a business venture that benefits the Spanish economy.
  4. Public Debt: Purchasing Spanish public debt securities with a minimum value of €2 million.
  5. Bank Deposit: Depositing at least €1 million in a Spanish financial institution.

The Application Process:

The Golden Visa application process involves the following steps:

1) Gathering Documentation: Collecting and preparing the required documents, such as valid passport, health insurance, proof of funds, investment details, and background checks.

2)  Obtaining Spanish Residency: Applying for a Spanish residence visa at the Spanish consulate,embassy or a local solicitor, you can find where your local embassy is on the gov uk website.

3) Entering Spain: Once the visa is granted, travelling to Spain and applying for the Golden Visa within 30 days of arrival.

4)  Residency Permit: After the application is submitted, the authorities will issue a residency permit, allowing you to live and work in Spain.

Renewal and Permanent Residency:

The initial residency permit is typically granted for one year and can be renewed for an additional two years and then a final 2 years totalling 5 years. After five years of continuous residency with the golden visa, you  may be eligible to apply for permanent residency in Spain, which allows for greater freedom and benefits such as dual nationality, support from the government and much more.

Helpful Tips:

a. Seek Professional Assistance: It’s highly recommended to consult with an immigration lawyer or a specialised agency experienced in Golden Visa applications. They can provide valuable guidance and ensure compliance with the complex legal requirements.  Get in touch with the Camerons team today for all your help & support.

b. Plan Your Investment Strategy: Carefully consider your investment options and choose the one that best suits your needs, financial capacity, and long-term goals.

c. Prepare Documents in Advance: Start gathering the necessary documents well in advance to avoid delays in the application process. Ensure all documents are properly translated and legalised if required.

d. Learn Spanish: While not mandatory, having a basic understanding of the Spanish language can be beneficial in your day-to-day life and interactions with authorities.

e. Explore the Country: Take the time to explore different regions in Spain, visit potential investment areas, and learn about the culture and lifestyle before making your final decision.

The Golden Visa program in Spain offers a promising pathway for non-EU citizens seeking residency in a vibrant and culturally rich country. By understanding the process, meeting the requirements, and seeking professional help. 

If you are looking for more information on the golden visa or not sure what visa best suits you, contact a member of the Camerons team today.

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An Overview of the Non-Lucrative Visa Process for Expats in Spain

Are you planning on starting a new chapter of your life in Spain but not sure where to begin since Brexit ? The non-lucrative visa offers a fantastic opportunity for expats to live in this vibrant and culturally rich country. Whether you are planning to retire, take a sabbatical, or simply experience a change of scenery, this visa provides a pathway for individuals who wish to reside in Spain without engaging in any work or professional activities. In this blog post, the Camerons team will provide you with an overview of the non-lucrative visa process, along with some helpful tips to get started.

Understanding the Non-Lucrative Visa:

The non-lucrative visa, aimed at retirees, is a residence permit that allows individuals from outside of the EU to live in Spain for 1-5 years without applying for permanent residency. The years during this Visa do count towards your 5 year residency which is a bonus should you wish to become a permanent resident of Spain. Should you wish to extend your Visa for additional years, you are obliged to stay in Spain for at least 6 months of that year since you will be a tax resident of Spain. This visa grants you the freedom to explore the beauty of Spain while enjoying its rich culture, history, and cuisine.

Eligibility Criteria:

To qualify for the non-lucrative visa, you need to meet certain requirements. These typically include:

A. You cannot be employed to qualify for this Visa hence it is aimed at retirees. You can, however, earn an ‘income’ from other means such as property rental, investments and pensions, but you cannot be employed by a company.

B. Proof of sufficient funds: You must demonstrate that you have a stable income or sufficient savings to support yourself financially during your stay in Spain. The Main applicant needs to show evidence of an income,savings or a combination of these which totals €28,200 or more per year with each additional family member of €7,200 extra per year.

C. Health insurance: You need to have comprehensive health insurance coverage that is valid in Spain for a minimum of 12 months. We work with specialist health insurance companies which can provide a free no obligation quote.

D. Clean criminal record: Applicants must provide a police clearance certificate from their home country for the previous 5 years.

E. Medical certificate: A medical certificate issued by a recognized authority stating that you do not have any contagious diseases.

Application Process:

The application process for the non-lucrative visa involves several steps:

  1. Gathering required documents: This includes a valid passport, proof of income, health insurance documents, criminal record certificate, medical certificate, and a completed application form.
  2. Scheduling an appointment: Contact the Spanish consulate or embassy in your home country, if you need help arranging this Camerons can put you in touch with a range of Solicitors based in Spain and you can have a no obligation conversation on the phone or over a video call should you wish to discuss this in more detail.
  3. Submitting your application: Attend the appointment and submit all the required documents. There may be a fee to pay at this stage but it is best to check with your solicitor.
  4. Waiting for approval: The processing time for the non-lucrative visa can vary, but it usually takes a few weeks to a few months. It is advisable to be patient and plan accordingly since you cannot enter Spain until you have received your Visa.

Helpful Tips:

To make the non-lucrative visa process smoother and your move to Spain , consider the following tips:

  1. Start early: Begin the application process well in advance of your intended travel date to allow sufficient time for any unforeseen delays or additional requirements.
  2. Thoroughly research the requirements: Familiarise yourself with the specific requirements of the non-lucrative visa and ensure you have all the necessary documents ready.
  3. Seek professional assistance: If you find the application process overwhelming or confusing, consider consulting an immigration lawyer or specialist who can guide you through the process.
  4. Learn Spanish: Although not mandatory, having a basic understanding of the Spanish language can greatly enhance your experience and integration into the local community.
  5. Plan your finances: Ensure you have enough funds (this is not the required amount for the visa but a general tip for every day expenditure) yourself during your stay in Spain, as you will not be allowed to work.

The non-lucrative visa process for expats in Spain opens up a world of opportunities for individuals seeking a new adventure or a change of pace. By understanding the requirements, following the application process, and planning ahead, you can make your dream of living in Spain a reality. Embrace the rich culture, breathtaking landscapes, and warm hospitality Spain has to offer as you embark on this exciting journey. For any more questions contact a member of the Camerons team today !