The Golden Visa has become the best option to obtain residency for non-European citizens making an investment in Spain. However, mistakes often prevent the process from being carried out with guarantees.

Here I share seven tips that will lead you to success in your Golden Visa application in Spain:


TIP 1 - Check your matrimonial regime

If you are planning a Golden Visa property purchase in Spain, in joint names, check your matrimonial regime.

If your regime is the separation of assets, the most popular regime in many countries, your investment will need to be for a minimum of 1.000.000€(ie. double the required investment).

The correct procedure for a married couple would be for the property to be purchased in one name (ie. the principal Golden Visa applicant), and the spouse/children will be included in the residency application as dependents.

TIP 2 - Taxes, fees, and refurb costs do not count

Please note that neither purchase taxes nor fees are not considered as part of the investment for Golden Visa Property Purchase purposes.

Investing in a 400.000 € property with a view to spending 100.000 € on refurbishment, does not qualify for the Golden Visa scheme either.

TIP 3 - You can purchase a property for Golden Visa residency with a Mortgage

Please remember that the property purchase for Golden Visa must be mortgage-free for the first 500.000 €.

If however, you purchase a property for 800.000€ for example, you can request a mortgage for 300.000 €.

TIP 4 - Shared investments do not count

The law has not regulated buying a “part” of a property but buying one or more properties. This means one property as a whole.

The possibility of granting an investor’s residence permit based on the acquisition of real estate properties by several individuals is not permitted.

As an example, a group of people investing 500.000 € each in a 2.000.000 € property would not qualify for a Golden Visa investment. A minimum of 500.000 € must be invested by a sole investor in the purchase of one whole property or more.

TIP 5- Your property purchase for Golden Visa can generate income for you

Provided your total investment in Spanish property is at least 500.000 €, the Golden visa application process allows you to purchase as many properties as you like.

A popular option is to purchase a family home (for example to the value of 400.000 €) and to purchase a rental property (such as an apartment at a price of 125.000 €).

You can also purchase a rental property with a view to generating an income, without needing to reside in the property.

TIP 6- Apply whilst in Spain and receive a 2-year residence permit

If you are already legally in Spain (in a short stay permit or a Non-Lucrative Visa permit) you can apply directly for the residence permit without having to apply previously for an investor visa.

As soon as you have purchased the property, your residency application via the Golden Visa scheme can be submitted at the Spanish immigration office. There is no need to go via the consulate.

This is the only visa that allows an initial residency for two years.

TIP 7- The Spanish Golden Visa is retroactive

If you are a non-EU citizen who bought a property in Spain for 500,000 € or more, on or after the 28th of September 2013, you may qualify to apply for a Spanish Golden Visa.

In addition, if you purchased a property of lesser value, on or after the 28th of September 2013, and plan to purchase a second property, the total of the two purchases to the value of 500.000 € or more, you may qualify to apply for a Spanish Golden Visa.

Remember that it is the actual purchase price of the property that counts not its value. If you purchased a property in 2016 for 400.000 € and it is now considered to be worth 500.000 €, maybe due to money invested on refurbishment, etc, the property is only worth 400.000 € for Golden Visa application purposes.