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Long forms. Applications. Documents. Queues. The process to live and work in Spain can be tough.
The path towards a new life in an exotic land is often paved with bureaucracy and time-consuming processes. But it doesn’t have to be that way.
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Spain has a simple and easy procedure to follow and is a surefire way to secure the right to live and work across the country if you an ex-pat. The Golden Visa for investors.
This visa allows non-EU ex-pats to live and work in Spain if they make an investment in the country. You can either:
- Invest €500,000 or more in Spanish Real Estate.
- Invest €2 million in Spanish debt
- Invest €1 million in Spanish companies by buying shares
- Deposit €1 million in a Spanish bank account
This is the simplest approach for most people, provided that you have funds to make the investment to live and work in Spain.
What are the Initial Steps to live and work in Spain ?
If you are living outside Spanish territory when applying for a Golden Visa, you can file your application with the Spanish Consulate in your country of residence. You will receive a one-year Investor Visa, which will allow you to enter Spain and then apply for a two-year residence authorization.
However, you can skip the first step if you are already legally in Spain on a tourist visa or another valid permit, and apply for the Golden Visa with a two-year validity directly from Spain. This is the most attractive way to live and work in Spain.
How do I Renew the Golden Visa to live and work in Spain ?
The Golden Visa is renewed in five year periods. The holder can do this by simply maintaining their initial investment during the validity of their residence permit and entering Spain just once. This means holding onto the Real Estate that the ex-pat purchased when entering Spain at the beginning of their visa.
However, the Golden Visa holder doesn’t need to reside in Spain for any minimum period of time. This means they can avoid becoming a Spanish Tax Resident and won’t need to pay Spanish taxes.
What Happens if my Circumstances Change?
If you want to modify or change your investment but keep your residence permit, we recommend doing so within the investment thresholds as soon as possible. If you delay, you may risk losing your permit and right to live and work in Spain.
What’s the Best Way to Exit my Investment?
If the investor physically resides in Spain for five years and doesn’t leave the country for more than 10 months during this period, they can apply for a long-term residence permit.
Once the investor has a long-term residence permit, they no longer need to maintain the investment, sell the asset, or withdraw it.
Our team at Lexidy LegalTech Boutique can help you with your Golden Visa Investment to live and work in Spain. Whether it’s supporting the application process or identifying the right investment for you and ensuring your rights are protected. Speak with us today for a free consultation and start your new life.