How to Secure a Golden Visa by Investing in Property

Spain has become a coveted destination not only for its climate, culture, and Mediterranean lifestyle but also for its attractive Golden Visa program. This program allows non-EU citizens to obtain a residence permit in Spain in exchange for a significant investment, usually in real estate. If you are considering investing in a luxury property on the Costa Blanca and benefiting from the Golden Visa program, this article will guide you step by step through the process.

1. What is the Golden Visa?

The Golden Visa is a residence permit that Spain offers to foreign investors who make a significant investment in the country. This visa allows investors and their families to live and work in Spain, with the option to move freely around the Schengen area countries. The main advantage of the Golden Visa is that holders do not need to reside permanently in Spain to maintain their status, making it ideal for investors planning to divide their time between several countries.

Basic investment requirements:

Purchase a real estate property in Spain with a minimum value of 500,000 euros.
Other forms of investment include investments of 1 million euros in Spanish shares or bank deposits, or a 2 million euro investment in Spanish public debt.
The investment must be free of charges or mortgages for at least 500,000 euros (you can finance any amount above).

2. Benefits of the Golden Visa

The Golden Visa program not only offers you the opportunity to live in Spain but also brings several attractive benefits for international investors:

Residence for the whole family: Includes spouse, dependent children, and dependent parents.
Freedom to travel around Europe: Allows visa-free travel to all Schengen area countries.
No need to live permanently in Spain: You only need to visit Spain once a year to maintain residence.
Access to the European market: If you are an entrepreneur or investor, you can benefit from access to the EU market.
Option for permanent residence and citizenship: After five years of residence, you can apply for permanent residence, and after ten years, for Spanish citizenship.

3. Step by step: How to obtain a Golden Visa through property purchase

Step 1: Choose the right property

The first step is to select a property that meets the minimum investment threshold of 500,000 euros. On the Costa Blanca, Bindley Properties offers a wide range of luxury villas, apartments, and plots that not only meet this requirement but also offer an excellent investment opportunity in one of Spain's most sought-after areas.

It is important to note that the 500,000-euro investment must be free of charges, meaning you cannot finance that amount with a mortgage. However, any amount over 500,000 euros can be financed if you wish.

Step 2: Gather the necessary documents

Once you have selected your property, you will need to gather the required documents to apply for the Golden Visa. Some key documents include:

Valid passport.
Criminal record certificate, issued within the last 90 days.
Proof of investment, such as the property title or a sales contract.
Valid medical insurance in Spain.
Proof of sufficient financial means to support your family while living in Spain (bank accounts, recurring income, etc.).

Step 3: Make the investment

The next step is to make the investment legally. It is crucial that the property purchase is registered in the Spanish Land Registry. This process can take several weeks, and it is advisable to have a lawyer assist you with the procedures, especially if you do not speak Spanish fluently or are unfamiliar with local laws.

Step 4: Apply for the Golden Visa

Once the investment is made and all the documents are in order, you can proceed with the Golden Visa application. The application can be made at:

A Spanish consulate in your home country.
The immigration office in Spain, if you are already in the country.

The average processing time for the application is 20 working days. Once approved, you will be granted an initial visa for one year, which you can renew every two years as long as you maintain the investment.

Step 5: Renewing the Golden Visa

To renew your Golden Visa, you must continue to meet the investment requirements and ensure that the property remains in your possession. You do not need to reside in Spain to renew the visa, which is a great benefit for international investors who travel frequently.

Every two years, you will need to renew your visa, and after five years, you will have the option to apply for permanent residence, allowing you to live in Spain indefinitely.

4. Tips for a successful investment in Costa Blanca

Buying a property on the Costa Blanca not only allows you to access the Golden Visa but is also a solid and profitable investment. Here are some key tips:

Choose the location carefully: Areas such as Moraira, Benissa, Calpe, and Benitachell are known for their high demand among luxury buyers. Additionally, property values in these areas tend to appreciate over time.
Consider sustainability: Investing in properties that incorporate sustainable features, such as solar energy or eco-friendly building materials, can increase long-term value.
Partner with experts: Work with a real estate agency like Bindley Properties, which has experience in managing luxury properties and obtaining the Golden Visa for its clients.

Conclusion

The Golden Visa program in Spain is an excellent opportunity for investors seeking not only a luxury property on the Costa Blanca but also the chance to enjoy the benefits of living in a European Union country. With the right support and investment in the right property, obtaining a Golden Visa can be a straightforward and rewarding process.

At Bindley Properties, we specialize in helping our clients navigate the process of obtaining the Golden Visa while finding the perfect property on the Costa Blanca. If you are interested in learning more or need personalized assistance, don't hesitate to contact us. We are here to make your investment in Spain a success!