Spanish Golden Visa: 10 reasons to apply

Raymundo Larraín Nesbitt, June, 13. 2023

Lawyer Raymundo Larraín highlights the main advantages of attaining a Spanish Golden Visa.

Marbella-based Larraín Nesbitt Abogados (LNA) has over 20 years’ taxation & conveyancing experience at your service. We offer a wide range of 50 legal and corporate services. Our team of native English-speaking lawyers and economists have a long track record successfully assisting expats all over Spain.

You can review here our client’s testimonials.

Article copyrighted © 2023. Plagiarism will be criminally prosecuted

 

By Raymundo Larraín Nesbitt
Director of Larraín Nesbitt Abogados
8th of June 2023

 

  1. Golden Visas do not automatically make you tax resident in Spain upon renewal, unlike every other visa in Spain. This is a unique tax advantage exclusive only to GVs. No other visa in Spain shares this unique trait. Only for this reason, affluent investors will find it most appealing if they do not fancy paying taxes in Spain.
  2. Allows you to (legally) override the 90/180-day that limits stay in Spain (and by extension in the Schengen Area/EU). This visa allows you unfettered access to Spain. You can enter and leave the country when and as you please, even overriding Covid flight bans, as you will hold a select residency permit that (very) few people hold.
  3. Clear rules. Initially granted for 3 years, then renewable every 5 years.
  4. No minimum stay is required. You can spend as little as only one day in Spain, or the full year-round, at your choice.
  5. Fast-tracked. Golden visa applications are greatly expedited by rapport to standard visa applications. Golden visas are granted in only 3 weeks.
  6. Streamlined. Golden Visa applications are (greatly) streamlined, removing all the unnecessary admin red tape normally associated to standard visa applications, making applicant’s lives easier.
  7. The whole family is included as dependents, even ascendants (such as grandparents).*
  8. You can work in Spain (optional).
  9. Leads to permanent residency (optional).
  10. Leads to Spanish citizenship (optional).

*(subject to criteria)

Conclusion

The European Commission does not like golden visas.

The Spanish government doesn’t like golden visas either (although it greatly benefits from them).

Several countries in Europe don’t like them either and have already scrapped them in a trend that is growing and gathering pace throughout all the Union (Ireland, Portugal, etc).

On the back of this burgeoning trend, several political parties have piled pressure on the government to suppress them altogether registering proposals at congress (Mas Pais, Podemos, etc). The Spanish government jumped on the bandwagon last month, and made public it will either scrap golden visas, or raise the cap to €1,000,000. It seems they are leaning towards the latter (raising the cap, meaning doubling the required minimum investment).

So, what does all this mean for applicants? It means the window of opportunity to attain a golden visa in Spain, by way of investing €500,000 in real estate, is waning by the day. Over the next months, the Spanish government will approve to raise the cap, as reported by El Pais, in effect doubling the minimum investment to €1mn. Anyone who cannot afford to spend a minimum of one million euros in real estate, will be left out in the cold.

We strongly advise all non-EUs – who are considering filing for a golden visa in Spain – to do so immediately, before the window of opportunity closes. Obviously, if you are a multi-millionaire, this change does not concern you. But there is also the distinct possibility of the government caving into the political pressure and shutting down golden visas for good, in line with other fellow EU countries.

In any event, all would-be golden visa applicants, affluent or not, are strongly advised to act sooner rather than regret it later.

At Larrain Nesbitt Abogados, we have made true the dreams of hundreds of non-EU investors, and their families, assisting them to attain a Golden Visa since its inception in 2013. You can browse our clients’ visa testimonials here.

Your family’s success is only one call away: (+34) 952 19 22 88

Golden Visa (investor visa)

Larrain Nesbitt Abogados has a 100% track record of attaining Spanish residency.

“I’m self-made. I always wanted to make myself a better person, because I was not educated. But that was my dream – to have class.” – Tina Turner

Anna Mae Bullock (1939 – 2023). Was an-all American singer (later on in life she acquired Swiss residency & citizenship through investment). Born in a humble family, in the deep South, she picked cotton as a kid with her father in a farm. Family members soon noticed her natural talent for singing and she went on to join the local church’s choir. Without receiving a formal education, she would go on to work in several jobs, such as joining a household’s domestic service, etc until finally pursuing her dream, a singing career on meeting the man who would eventually become her husband, Ike Turner. He taught her all the basics. She became the featured vocalist of his band, and rose to prominence as the lead singer of the Ike & Tina Turner duo. Because of her husband’s constant abuse (fuelled by the unrestrained consumption of cocaine & alcohol), she bravely decided to split up and launch a successful career as a solo performer, at age 37, garnering worldwide recognition. And the rest, as they say, is history. Tina Turner will be fondly remembered as the Queen of Rock ‘n’ Roll.

She is one of the few singers who dedicated a song to us lawyers: “Typical male.” No doubt, the lady had class.

 

Larraín Nesbitt Lawyers, small on fees, BIG on service.

Larraín Nesbitt Lawyers is a law firm specialized in conveyancing, residency, inheritance, taxation, and litigation. You can contact us by e-mail at info@larrainnesbitt.com, by completing our contact form, or by telephone on (+34) 952 19 22 88.

Residency services available from LNA:

Golden Visa related articles

 

Article also published at Larrain Nesbitt Abogados: Spanish Golden Visa: 10 reasons to apply

Marbella-based Larraín Nesbitt Abogados (LNA) has over 20 years’ taxation & conveyancing experience at your service. We offer a wide range of 50 legal and corporate services. Our team of native English-speakinglawyers and economists have a long track record successfully assisting expats all over Spain.

You can review here our client’s testimonials.

Please note the information provided in this article is of general interest only and is not to be construed or intended as substitute for professional legal advice. This article may be posted freely in websites or other social media so long as the author is duly credited. Plagiarizing, whether in whole or in part, this article without crediting the author may result in criminal prosecution. Ní neart go cur le chéile. VOV.

Article copyrighted © 2023. Plagiarism will be criminally prosecuted.
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