Welcome to your essential guide on the Golden Visa Mortgage in Spain for 2024. This resource will help you understand how to secure residency through investment or property acquisition, including leveraging mortgages.
Overview of the Golden Visa program
The Spanish Golden Visa Program offers non-EU citizens a pathway to residency by investing in Spain. Established under the 14/2013 Act on International Mobility, this initiative encourages internationalization and foreign investment. While it doesn’t directly lead to citizenship, it provides the opportunity to apply for Spanish citizenship after 10 years of residency under the Golden Visa.
Eligibility criteria for the Golden Visa
To qualify for the Golden Visa, you must make significant capital investments. Here’s what qualifies:
- Invest at least €1 million in Spanish financial assets.
- Purchase company shares, deposit a minimum of €1 million in a Spanish bank, or start a business project of general interest.
- Invest €500,000 in Spanish real estate, free of mortgages. You can also ‘top up’ this amount with a mortgage.
Additional requirements include being 18 years or older, having a clean criminal record, obtaining health insurance in Spain, and not having been previously denied a Schengen Visa.
Types of Golden Visa investments in Spain
There are several routes to obtaining a Golden Visa in Spain:
1. Golden Visa through financial assets
- €1 million in Spanish bank deposits.
- €1 million in Spanish investment funds or venture capital.
- €2 million in Spanish public debt, with a minimum holding period of five years.
2. Golden Visa through business investment
- €1 million in shares of Spanish companies.
- Initiate a business project of general interest.
3. Golden Visa through Real Estate investment
- Invest €500,000 in Spanish real estate, which must be free of mortgages. Alternatively, you can use a mortgage to ‘top up’ this amount.
Steps for property acquisition or real estate investment in Spain
To invest in real estate or purchase property, follow these steps:
- Identify property: Select properties that meet your criteria.
- Sign contract: Enter a preliminary contract (Contrato de Arras) and make a down payment.
- Arrange mortgage: Secure a mortgage with assistance from Mortgage Direct.
- Finalize purchase: Complete the purchase (Escritura de Compraventa) in front of a Notary and register the property at the Registro de la Propiedad.
Benefits of a Golden Visa
Obtaining a Golden Visa offers several advantages:
- Expedited application process.
- Simplified renewal process.
- Inclusion of family members.
- Access to Schengen countries.
Procedure for obtaining a Golden Visa
To apply for the Golden Visa:
- Make a qualifying investment in Spain.
- Submit your application at the nearest Spanish Embassy or Consulate, either in person or online.
- Schedule an appointment and gather the required documents.
Necessary documents for Golden Visa application
You will need the following documents:
- Spanish visa application form.
- Recent photographs.
- Valid passport.
- Proof of income.
- Criminal background check.
- Health insurance documentation.
- Proof of payment of the application fee.
- Proof of residence in the consular district.
- Original and copies of documents confirming the investment.
Validity and renewal of the Golden Visa
Initially, the Golden Visa is valid for one year. It can be renewed indefinitely as long as the investment remains active. Renewal requires at least one visit to Spain during the visa period. After ten years of residency under the Golden Visa, you may apply for Spanish citizenship.
Premium approach: Applying for a Golden residence permit
To apply for the Golden Visa program, ensure you are legally present in Spain and submit your residence permit application online at the Unidad de Grandes Empresas y Colectivos Estratégicos – UGE. This program suits highly qualified individuals, entrepreneurs, and businesspeople seeking rapid residency in Spain. Although the process is straightforward, professional guidance is highly recommended.
Why choose Mortgage Direct for your Golden Visa mortgage?
Since 2006, Mortgage Direct has been guiding clients through the mortgage and real estate buying process with unparalleled expertise. Our multi-lingual team provides personalized advice on Spanish mortgages with exclusive conditions, ensuring your investment is secure and profitable.
If you have questions about the Spanish Golden Visa or need a tailored mortgage solution, contact us today. We are here to help you achieve your residency and investment goals in Spain.
Complete my mortgage affordability-check form