25 August, 2022
Increase of Golden Visa Application in Spain
Travellers willing to experience something new have gravitated towards Spain as a top travel/holiday destination, because there are many benefits for residents and tourists as it provides a luxurious way of life. This is why many people are applying for a Golden Visa here.
Spain has been a member of the EU since 1985 and the Schengen area since 1995. The country’s high standards of living and developing economy make it an appealing option for relocation. Spain is now considered an attractive place to apply for investment activities by businesses and families.
Spain has one of the finest climates in the world, so you can lay in the sun or do water sports any time you want. Throughout Spain, there is scenic beauty and a variety of engaging recreational activities. Furthermore, the Spanish passport is among the strongest in the world, allowing you to travel to 188 countries visa-free.
What is the Golden Visa in Spain
Spain is one of the most popular destinations for Golden Visa buyers. The Spanish government introduced the Golden Visa program in 2012. It allows non-EU citizens to get a residency permit in Spain, if they purchase a property worth more than €500,000.
Non-EU nationals who want to pursue a professional or personal life in Europe, should consider the Spain Golden Visa Program. You can live, study, and work in Spain while holding a Golden Visa. After five years of temporary residence, you can submit a permanent residency application in Spain. Also, if you have been a legal resident of Spain for ten years and meet the specific criteria, you can then apply for citizenship through the naturalisation process.
Since its introduction, the Golden Visa Program has been very popular among the Non-EU citizens. According to research conducted by Tranio, the Spanish Golden Visa was in fact in high demand in Europe, in terms of market growth in 2021.
Although Golden Visa acquisition decreased in 2022 , Spanish visa popularity remains high and continues to increase.
Spain Golden Visa Criteria
In the Spanish Golden Visa Program, there are different types of investments.
You can invest either €500,000 in real estate, €2 million in Spanish government bonds, or €1 million in Spanish company stock.
If you meet the following criterias, you are eligible to apply for a Spanish Golden Visa:
- You are not residing in Spain illegally.
- You have health insurance, either public or private, arranged with a Spanish company.
- You must be at least 18 years old.
- You have enough money to pay your personal and family expenditures during your stay in Spain.
- You must not have a criminal record.
- You can provide documentation to prove you are the owner of the property.
· You can pay the visa fee.
Golden Visa in Barcelona
How do you get a Golden visa in Barcelona?
Instead of obtaining a Barcelona tourist visa, these are the Golden Visa requirements to get one in Barcelona.
Barcelona can be a wise area of investment if you’re considering buying an investment property in Spain. This is because there are no limits on buying properties in Barcelona, whether residential, commercial or land.
The Spanish government supports and even promotes international purchases. However, if you are interested in investing in a vacation rental, you may require legal assistance with the associated paperwork.
Golden Visa Application Process for Spain
- You start by picking your preferred investment plan. The investment possibilities are listed above, in the “Spanish Golden Visa Investment Options” section.
- After you have chosen your preferred investment plan, you must prepare and submit the Schengen Visa application.
- At this point, you must travel to Spain to give the authorities the necessary biometric information. Usually, it takes two months to finish this step of the procedure.
- The next stage of the application process is waiting for your application’s legal outcome. The resolution period is usually up to 20 days.
- Get your Spanish Golden Visa today and start reaping the benefits!
The reason for an increase in Golden Visa Applications
Obtaining the legal right to live and work in another country can be a time-consuming and complex process. But with Golden visas, wealthy individuals can buy residency, without even living in the country.
And this is what gains Golden Visa popularity among other countries; that’s the main reason why Golden Visa applications are increasing day by day.
The number of Spanish Golden Visa applications by American citizens is anticipated to increase, due to the country’s growing radical social and political views.
In its most recent report, Get Golden Visa predicts that 2022 will be “its busiest year yet.”
Benefits of the Golden Visa
One of the main advantages of the Golden Visa, is its possible extension to immediate family members. Under the Golden Visa, you and your family have legal access to public resources, including public schools and health care.
One of the most significant advantages of Golden Visas is its preferential treatment. With these visas, you can process renewals every two years and the initial, immediate grant, which is good for one year
Additionally, possession of a Golden Visa grants you freedom of movement throughout the Schengen area.
Spain Golden Visa and Taxes
You are not required to pay income tax if you do not live in Spain full-time. If you remain there for more than half the year, you are considered a resident (more than 183 days).
However, suppose you have bought a home in Spain, regardless of your residency status, you must still pay the applicable taxes, such as municipal and rental income taxes. Rent and other income earned in Spain are subject to a 24.75% tax if you are not a full-time resident.
Can Casamona assist me in obtaining the Golden Visa and finding the most suitable residence?
We certainly can. We provide the Golden Visa Investment Package, which includes our legal and real estate services when searching for a property in Barcelona. We only charge you 4% of the total costs of the sale price for our Golden Visa Investment Package. Our package also includes legal services from our partnered lawyer. We offer an exceptional package!
Casamona is here to assist you on your Golden Visa journey, for a reasonable price. We have been helping foreign investors buy properties in Barcelona since 2004. Contact us to know more about the excellent services we provide, such as our property management service and our Buyer agent package.