President Pedro Sánchez recently announced the end of golden visas, with the Council of Ministers swiftly formalizing the decision in just 24 hours. This move signals a significant change in residence permit policies for non-EU investors.
Spanish Golden Visa:
The Spanish Golden Visa program, catering to non-EU investors, offers an array of benefits, including expedited residence permit processing and unrestricted travel within the Schengen Area. Family members of the main applicant also enjoy extended residency benefits.
Understanding the Golden Visa Requirements:
Property investment exceeding €500,000 (without a mortgage)
€1 million deposit in a Spanish bank
Purchase of shares worth €1 million
Benefits of the Golden Visa:
Preferential treatment ensures fast-track residence permit processing, facilitating seamless access to the Schengen Area and enhancing flexibility for investors and their families, including access to educational institutions.
Navigating Golden Visa Spain Taxes:
Tax implications vary based on residency status and duration of stay in Spain. Residents are subject to taxation on worldwide assets and income.
Golden Visa Processing Time in Spain:
Following document submission, a decision typically takes 20 days. Successful applicants then proceed to apply for the visa at the Spanish consulate in their home country, followed by obtaining the TIE (Tarjeta de Identidad del Extranjero) and fingerprinting.
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