How PLANET VILLA can help you buy a property in Spain to obtain residency and later nationality

At PLANET VILLA we have everything you need to make your real estate investment and obtain the Golden Visa in Spain:

• Real estate assets
• Specialized advisers
• The motivation to help you

If you are thinking of obtaining residency in Spain through real estate investment, do not worry! We will help you with all the procedures, and in a very short time you will be able to enjoy your residency in Spain in a completely legal way and, if you wish, the Spanish nationality in the near future.

To obtain the Golden Visa in Spain, it is necessary to make an investment of at least €500,000 plus taxes (either VAT or ITP - Property Transfer Tax) in one or more real estate properties. In this way, the investor obtains a Family Residence Permit in Spain.

This visa must be requested in person or through an accredited representative at the General Consulate in whose jurisdiction you have your current residence. It must be done a maximum of 90 days in advance of the planned date of the trip, or directly within Spanish territory if you are legally there at that moment (with a tourist visa, for example).

Other ways to obtain the Golden Visa

A real estate investment is not the only way to obtain this visa. Other ways outlined by Spanish legislation are:

• Buying shares or participations in a Spanish company for a value greater than 1 million euros.
• Having a bank deposit in a Spanish entity for a value greater than 1 million euros.
• Possessing Spanish public debt worth at least 2 million euros.
• Business investment that creates employment or contributes to the technological development of the country.

However, none is as accessible or as attractive to investors as real estate entrepreneurship.

Visa duration

The minimum and initial duration of the visa is 2 years. Once this first period has elapsed, the beneficiary can request a renewal of this for an additional 5 years.

To do this, you simply need to show that you continue to own the investment asset. It is also necessary to prove at least one visit to Spanish territory during the last year.

There are no limits to the repetition of this cycle. However, the most interesting thing is that if the investor is a citizen from Latin America, Portugal, the Philippines, or Equatorial Guinea, they can obtain Spanish nationality after those first 2 years. For other citizens, 10 years of residence are required.

Requirements to obtain the Golden Visa in Spain

In addition to the value of the investments mentioned above, there are other types of requirements to obtain the investor visa in Spain:

• Not be a citizen of the European Union.
• Never have resided irregularly in Spain.
• Be over 18 years old.
• Not have a criminal record, either in Spain or in the countries where you have resided for the last 5 years, for crimes provided for in the Spanish legal system.
• Not be registered on the "inadmissible" list in any of the Schengen countries.
• Have private medical insurance comparable in its coverage to the national health system.
• Prove that you have sufficient financial resources for yourself and for the family members who accompany you, based on the IPREM index (400% higher than the reference index).
• Pay the visa processing fee.

Deadlines for the approval of the Golden Visa in Spain

The maximum term to know the resolution of the request is 20 calendar days. In the absence of any resolution, administrative silence is considered positive (the application is approved). Once the application is approved, the investor has one month to apply for the visa at their consulate of residence. Then, they have another month to obtain the TIE (Foreigners Identity Card) in Spain.

Advantages of obtaining a residence permit for real estate investment

Compared to other methods of obtaining a residence permit in Spain, obtaining the Golden Visa has many advantages:

• Family members can directly benefit from all the advantages of the Golden Visa, including children over 18 years of age as long as they are financially dependent on the investor, as well as parents under 65 years of age.
• It has a minimum initial duration of 2 years.
• The investor and the family members accompanying them may be absent from Spain for long periods. It is only necessary to accredit a visit to the national territory by the investor if they wish to renew the visa after 2 years.
• At 10 years, if desired, Spanish nationality can be obtained (only 2 years for citizens from Latin America, Portugal, the Philippines, Andorra, or Equatorial Guinea).
• The beneficiary may visit any country belonging to the Schengen territory for any reason they wish for the duration of their visa.
• The Golden Visa includes a work permit.
• It is not mandatory to obtain it only from Spanish territory.

Documentation to present to obtain the Golden Visa

To get the Golden Visa in Spain, it is necessary to prove that the real estate investment has been made. To do this, the investor must submit the following documents in their application:

• Proof of purchase of the property.
• Certification of property charges (from the Property Registry).
• Deed of sale (escritura).

Regarding their personal situation, they must also present:

• Application form duly completed.
• Photocopy of all the pages of a passport with at least one year of validity.
• Original and copy of a private health insurance policy.
• Criminal record certificate.
• Bank statement that demonstrates having sufficient funds for the investor and their family.
• Marriage certificate or registration of civil partnership and birth certificates of the children if the extension of the visa to relatives is requested.