If you are looking to purchase a property in Spain, then you may need to think about visas. Many property owners within Las Colinas Golf & Country Club use their properties as holiday homes and therefore do not spend long enough in the country to require a long stay visa. However, if you are a resident outside of the European Union and plan on spending more than 90 out of 180 days in Spain then you will need a long stay visa. One option is a Golden Visa, also known as an investors and entrepreneurs visa.
The Golden Visa is a popular choice due to the fact that it not only allows you to reside in Spain, but also allows you to work. It is also easy to bring your family with you under this visa and it gives you access to Spanish public services such as schooling and state health care. You must however still have a health insurance policy in Spain as well. The golden visa only requires that you visit Spain a minimum of once a year and once granted it is easy to renew.
The Golden Visa is designed for those investing their money in the Spanish economy, including those purchasing property. The property must be purchased without the help of financing and must total more than €500,000. This can be a single property or more than one, providing the total investment exceeds €500,000.
The Golden Visa is crafted for investors and entrepreneurs, specifically those channelling their funds into the Spanish economy through investments like property acquisition. The properties, whether singular or multiple, must collectively amount to €500,000 or more, and the purchase should be made outright without relying on financial instruments such as mortgages.
In addition to the €500,000 investment threshold, individuals seeking the Golden Visa must demonstrate their financial capacity to sustain themselves and their families. Further details on how this calculation is performed can be found below.
Properties available for purchase in Las Colinas Golf & Country Club come with varying price tags, and some exceed the €500,000 requirement. Consequently, numerous properties listed here make potential buyers eligible for the Golden Visa, making it a favoured option among non-EU residents of Las Colinas.
To assess your financial ability to support yourself and your family, the Spanish IPREM serves as the benchmark, representing an income index in the country. To be eligible for a Golden Visa, it’s necessary to demonstrate that you possess or will have 400% of the Spanish IPREM, with an additional 100% for each family member.
As of 2023, the IPREM stands at €600.00 per month. Therefore, validation for a Golden Visa requires proof of a monthly income amounting to 400% of this figure, totalling €2,400.00. Alternatively, you can exhibit sufficient funds in your bank account to cover the upcoming year, equivalent to €28,800.00. Additionally, an extra 100% per family member is necessary, equivalent to €600.00 per month or €7,200.00 annually.
Should you choose to purchase a property in Spain through us, our collaboration with Spanish Lawyers ensures comprehensive assistance with your acquisition, including support for long-stay visas.