Foreign investors are now able to obtain a residency visa for Spain from the purchase of a Spanish residence, this is known as the property visa or the 'Golden Visa' or even the 'Investor Visa'. The visa is offered to individuals who have invested a minimum of five hundred thousand Euros in the property or a selection of properties. Spain's 'Golden Visa' or 'Investor Visa' - can now allow property investors to acquire a visa to reside in Spain and travel around the European Union freely.
This new act becomes law as soon as it is signed by the King of Spain shortly. Within the legal guidelines - that has not been modified from the initial original draw up laws means non-European Union individuals who invest a minimum of € 500,000 ($845, 564) ( without having financing up to that quantity ) in residential property, commercial property or land, are able to reside legitimately In Spain and can also travel inside the 26-country Schengen zone.
Individuals have the entitlement to purchase several properties to fulfil the €500,000 qualifying levels required, and they can be either private individuals or corporate organizations as long as they adhere to the particular requirements. There are no set requirements that any kind of residence has a particular use, enabling owners to rent their properties for personal or commercial use. The initial step for property investors should be to make an application for a visa which allows them to reside in Spain for 12 months.
There is not really any requirement to spend a minimum length of time in Spain during this time period provided that they are able to prove they may have visited Spain at least once during this period. As soon as an investment has been conducted, and prior to the expiration of the first year's visa, investors may then make an application for a residency permit that entitles them to reside in Spain for two years, thats renewable for another two years from then on, so long as the investment limit of €500,000 is retained.
There is no limit to the volume of intervals this two-year residency may be renewed. After five years of ongoing residence in Spain, individuals may make an application for a limitless residence permit. Being currently the situation, after 10 years' residency in Spain, you can make an application for Spanish nationality - on conditions that comply with all the other requirements, for example being a resident in the country for a minimum of 183 days per year.
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