The Golden Visa is a visa issued to non-European nationals, granting them and their family members residence permit in Spanish and visa-free access to the Schengen area, when making a significant investment in the Spanish economy. However, Spain has indicated that it will be scrapping the Golden visa in the early new year.
The most usual way to be offered a Spain Golden Visa is through the purchase of real estate properties for a minimum investment of 500,000 Euro. However, the visa is also available to businesspeople who invest in the Spanish economy, either monetarily or with highly qualified knowledge.
Official figures from the Spanish government states that of the total 33,237 residence permits issued through the Golden Visa programme, 12,723 are real estate investors (12,091) and business investors, and the rest are family members.
About 5,300 investors with valid permits are from non-European Union countries, the majority of them from the United Kingdom. At the same time, there were a total of 4,082 Asian investors, the majority of whom were from China, 1,377 from North America, and 1,052 Central.
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Richard PearsonPlease correct me if I’m wrong but the non lucrative visa is for those who wish to live in Spain and pay their taxes (eg on pensions, investments etc) in Spain. This is a world away from the golden visa which essentially allows non EU citizens to visit (and spend money) for more than the 90 days but still pay taxes (apart from the non resident tax) in their home country.
Charlie CoolNothing to do with socialism - if anything this is capitalism.
Golden Visas. Legalised back-handers. Socialism in action.
CompoTake into account that the Non-Lucrative Visa and Digital Nomad Visa are also excellent alternatives. These visas allow interested parties to move to Spain and keep their plans intact.
CompoI asked myself the same question. One would assume that old beneficiaries of this scheme will be able to continue renewing it, but, as a friend of mine who has lived in Spain for many years said: never assume anything. So your guess is as good as mine.
Richard PearsonYes but with the scheme being stopped, will you be allowed to renew after two years or will the visa then be rescinded?
Google : The Golden Visa is initially granted, depending on the type, for two years. Once this period has expired, you can request the renewal of the residence permit for two years, provided that the conditions of the investment are maintained, and you can obtain permanent residence after five years.
The (apparently not even mentioned thus far by the Spanish Gov) big question is whether those visa holders will be able to renew after the scheme closes. Good one for the MB to investigate?