Golden Visa benefits compared to other residence permits

The Golden Visa is an authorization to live and work in Spain, granted to non-European citizens owners of properties in Spain, and it is the easiest way to get the residence in our country.

This Golden Visa is regulated in Law 14/2013, with the aim of facilitating the entry of economic resources in our country, and it offers several advantages compared to the other kind of Spanish Residence Permits.

The Golden Visa can be applied for at any moment, provided that the property/ies have been acquired after November 2013, for an amount of 500.000 € or more, free of charges (over that amount it can be mortgaged) and these are some of differences with other Residence Permits that make the Golden Visa the most attractive option:

SIMPLE REQUIREMENTS. The key point is to own one or more properties in Spain, up to 500.000 €, and any kind of real estate can qualify (residential, garages, commercial units,…). If you meet the above, the other requirements are easily achievable, such as contracting a Health Insurance, having enough econmic resources for the period the Golden Visa is granted,… If you want to know more about the Golden Visa requirements take a look at our post “Golden Visa requirements“.

If you are looking for the best property meeting the Golden Visa requirements, please click here and take a look at our listings.

NO NEED TO LIVE IN SPAIN – POSSIBILITY TO AVOID THE TAX RESIDENCE. The Golden Visa is the only kind of Spanish Residence Permit that does not oblige to live in Spain for any minimum period, as it is only necesary to visit our country one time. Therefore, the Golden Visa holder and the familiy members do not have to establish the residence here, avoiding the tax residence if they don´t stay here more than 183 days per calendar year. You can learn more about it in our post “Golden Visa and Tax Residence“.

FAMILY MEMBERS CAN APPLY TOGETHER WITH THE MAIN APPLICANT. The Golden Visa is extended to the main applicant´s family members, and the following are included: spouse or partner with an analogous relationship to marriage, children under 18, or over that age if they depend economically of the applicant, and parents, if they do also depend on the main applicant.

Moreover, the Authorization to live and work for the family members can be applied for simultaneously or at any other later moment. You can learn more in our post “Golden Visa and family members“.

JOINT MARITAL PROPERTY ACQUISITION QUALIFY WITH ONE INVESTMENT. In case the property/ies are owned by a marriage in joint property regime, under a Golden Visa perspective the investment will be consdiered as done by one of the spouses (althogh the ownership is registered as 50% each), and the other spouse will be considered as family member with the right to apply for the Golden Visa with the main applicant.

AUTHORIZATION TO WORK. The Golden Visa includes an authorization to work in Spain, without the need to apply for any additional working permit.

RENEWALS FOR FIVE YEARS. The Golden Visa can be renewed unlimitedly for periods of five years, being the only requirement that the investment is held, without the need of having stayed in Spain for a minimum period.

FAST PROCEDURE. The Golden Visa procedure is fast, and it is granted in a maximum period of 20 days if applied for in Spain, and if it is applied for in the country of residence it must be answered in 10 days. In both cases, if the application is not answered within these periods, it will be considered as approved by positive silence.

These are some of the main differences compared with other Residence Permits, but of course the Golden Visa holders can also enjoy the benefits common to all types of Residence Permits in Spain, such as traveling in the Schengen area 90 out of a 180 days, possibility to qualify for the long term residence in Spain or the Spanish nationality,…

We would be more than happy to assit you and for more information please don´t hesitate to contact us.

We are here to help you and we offer a combined service including both the Purchase Process advice and the Golden Visa application service.