Lawyer Raymond Nesbitt gives us an overview of the advantages offered by Spain’s Golden Visa application.
Larraín Nesbitt Lawyers has over 16 year’s conveyancing experience at your service. Our team of native English-speaking lawyers and economists have a long track record successfully assisting expats acquiring property all over Spain, including Madrid and Barcelona.
Article copyrighted © 2.013, 2.017, and 2.018. Plagiarism will be criminally prosecuted.
By Raymundo Larraín Nesbitt
Director of Larraín Nesbitt Lawyers
The Spanish Golden Visa has become the gateway to Europe for thousands of applicants pursuing the European dream. They have collectively invested over 2 billion euros since its inception in 2013. Although Spain’s visa programme was a flop initially, as it fell well below expectations and was marred with teething issues, an ambitious overhaul in 2015 made it extremely competitive compared with similar schemes offered by fellow EU countries. So much so, that this massive tweak enabled Spain to overtake Portugal last year, becoming Europe´s leading Golden Visa supplier. This is unsurprising given how Spain overtook the US as the world’s second biggest tourist destination.
Although this procedure was originally tailored to cater to well-off Chinese and Russian nationals, British should seriously consider looking into it with renewed interest post-Brexit. The reason is because this scheme would allow British nationals - that lack a EU passport - to travel across Europe skipping pesky passport controls on an equal footing to EU nationals. Much like before the UK voted to break away from the Europe Union. Avoid lengthy queues at EU airports.
If you fancy an in-depth take into this subject, you can take a peek at our 2013 article: Investor Guide to Spain’s Golden Visa Law.
Spain’s Golden Visa programme allows affluent non-EU applicants, and their dependants, unfettered access across Europe´s Schengen Area. Travel unmolested through all of Europe.
A Golden Visa enables you, and your family, to live and work in Spain (Europe). This visa guarantees Spanish residency, which eventually leads to Spanish citizenship (optional). Live the dream, apply now!
Apply for the keys to your Golden Visa through Larraín Nesbitt Lawyers: Golden Visa Service. Your family’s success is only one call away: (+34) 952 19 22 88
Thousands of non-EU nationals have already secured their families’ future and well-being on benefiting from this special arrangement that rolls out the red carpet cutting through all the red tape. Spain’s Golden Visa is a success story, be a part of it.
Why haven’t YOU invested in your family’s future?
Why choose Europe?
- Democracy. Europe, cradle of Democracy, hosts some of the world’s oldest and most progressive open-minded societies. A clear and stable legal framework allows freedom, tolerance, nurtures ingenuity, and upholds (property) rights for businesspeople. This concocts the ideal breeding ground to foster business investments and develop an entrepreneurial skill set.
- Education. Europe is home to some of the world’s most respected academic institutions. Secure a bright future for your children allowing them to earn their spurs in life through a meritocratic top-notch education.
- Culture. Europe is a crucible of cultures, a conflux that laces Western and Eastern influences, offering a rich tapestry of history and arts that shaped the world as we know it. Spain’s vast cultural heritage, spanning millennia, is a legacy of commingled cultures that attracts over 82 million tourists every year leaving an indelible mark upon its visitors.
- Languages. Seize the opportunity to master and command some of the world’s most influential languages: English (business & finance), French (arts & diplomacy), German (industry & science), Spanish (literature & poetry).
- Security. Taken for granted by modern society, peace and security have become an increasingly sought-after commodity in these perilous times. Europe offers a war-free space ideal for young families to raise their children. Europe, and Spain in particular, boast some of the world’s lowest crime rates. Unsurprisingly, 8 out of the 10 cities with the lowest world-wide crime rates are located within European borders. Tight gun-control policies avoid trigger-happy wackos.
- Healthcare. Europe, and Spain in particular, are at the forefront in modern medical facilities.
- Modern transport. Spain offers top-tier transport services including state-of-the-art high-speed rails connecting you with Europe’s major capitals.
Golden Visa Advantages
- Fast-tracked. This law is specifically devised to attract affluent non-EU investors and helps to cut through the admin red tape greatly streamlining the visa procedure.
- Travel Europe visa-free. You can travel without a visa for 90 days out of every 180 days within the Schengen Area, but you will still need a visa to enter EU countries outside the Schengen Area (for example the United Kingdom).
- Clear rules. Initially 1 year (Residency Visa), then 2 years (Residency Permit), renewable indefinitely every 2 years.
- No need to become resident in Spain. You only have to visit Spain once to get or renew the Residency Permit. There is no minimum stay requirement, and you don’t have to become a fiscal resident or actually live in Spain.
- Family included. You may get additional permits for your spouse and children under 18 years (or disabled children over 18). Same-sex partners inclusive. Dependent parents of applicant are now also included (extended family).
- You may work in Spain.
- Spanish nationality (optional). This is a 2-year Residency Permit, not the right to permanent residency or a Spanish passport. However, it can lead to long-term Spanish residency after 5 years of continuous residence, and citizenship after 10 years.
- Underaged children may study in Europe. Underaged offspring can live and study in Europe, in company of your partner, whilst you work and earn money abroad.
- Return on investment. Take advantage of Spain´s burgeoning real estate recovery. Year-to-date (first five months), the market has expanded by double-digits in almost every region compared to the same period last year. Property prices are rising sharply spearheaded by Madrid (+17% YOY), Barcelona (+11% YOY), Mallorca (+15% YOY) and selected coastal areas. Low prices and cheap mortgages will not last forever, dip in whilst you can.
Applicants pursuing investor visas must comply with the following general requirements:
- Non-EU national.
- The investor applicant must be of legal age (18-years-old or over).
- The investor must not hold a criminal record whether in Spain or in the previous five years where he has resided.
- Not be already in Spain irregularly.
- Have access to medical insurance whether private or public.
- Have sufficient financial means to support both himself and his family whilst in Spain.
- Pay the relevant application fee.
Qualified residency permits to non-EU residents will be offered in return for any of the following:
- Invest at least €500,000 in Spanish real estate property.
- Invest at least €2,000,000 in Spanish Treasury Bonds.
- Invest at least €1,000,000 in shares of Spanish companies.
- Deposit at least €1,000,000 in Spanish bank accounts.
- A ‘major’ business investment which fulfils at least one of the following three conditions:
- Meaningful job creation as a direct result of the investment.
- Significant socioeconomic impact in the geographical location where the activity will be carried out.
- Technological or scientific impact.
Interested? Come and speak to Larraín Nesbitt Lawyers’ friendly staff who will be pleased to guide you through Spain’s Golden Visa programme. Your family’s success is only one call away: (+34) 952 19 22 88
"The predecessors plant trees [and] the next generation cools off in the shade." – Ancient Chinese proverb.
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Article originally published at Spanish Property Inisght: Golden Visa Spain
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