The Golden Visa – Last Chance Saloon

 

On the 30th October, without any fanfare as the country was naturally fixated on the unfolding disaster in Valencia, the Spanish government passed an amendment to their Golden Visa law, detailing how the end would come. As a result the programme is now scheduled to stop as of January 2025. 

This means that if you want to get a Golden Visa and all of the benefits that that entails then there really is no time to spare.

What you need to know:

Any applications made before January 2025 will be respected. In order to make the application you would have to have agreed the purchase of a 500,000€/+ property and at the very least have signed a deposit contract before a Public Notary in Spain and paid a legally binding deposit. You would have to have the rest of the full 500,000€ (or whatever the full price of the property is) already in a Spanish bank account in your name and also have to have other requirements such as health insurance in place.

If you want us to help make it happen for you then drop us a mail to info@spanishpropertynorth.com and we can schedule an initial zoom consultation to discuss how we can guide you through the process, from finding you a suitable property through filing your paperwork.

So if you are a third country national, perhaps an American or Brit who has been thinking of moving to Spain on this basis then you must take action now as the door is closing. Remember, the Golden Visa gives you and your dependents the freedom to live, work and study in Spain and equally does not restrict you to spending minimum amounts of time in the country to maintain your residency rights.

Read more here about the basics of the Golden Visa

 

 

 

 

New Digital Nomad Visa

If you are a remote worker lucky enough to be able to work from anywhere then it just got a whole lot easier for you to move to Spain. Earlier this month Spain’s government passed the long-awaited Startup Law, aimed at attracting talent and investment into the country and making it generally more attractive to entrepreneurs. Within this legislation is the so-called digital nomad visa that will enable remote workers and their spouse/partner and dependent children to live in Spain for up to five years and potentially later providing a route to permanent residency. The law also has tax breaks within it which make it even more favorable.

two people work at laptops in country house

Photo by Manu Prats

While the legislation has been passed and is no longer just speculation  it is due to actually come into force in early 2023. We will let you know when the exact date is confirmed but now is the time to prime yourself with information so you can be ready to get your application in as soon as the gates open! So here are some of the basics that we know already.

The digital nomad visa is primarily aimed at non European Economic area nationals (including Brits of course) as these are the people who will really benefit from an easier route into a working visa. If you’re an EU passport holder living and working in Spain is very straightforward but if not then obtaining a visa that allows you to work here has historically been difficult and a rather arduous process. But no more! As long as you can fulfil certain requirements.

  • You must be a remote worker and you must have worked remotely for at least a year
  • If you are under contract to a company that permits remote working you must have had a professional relationship with them for at least three months
  • You need to be earning the majority of your income from outside Spain and you need to be able to demonstrate that.
  • Your work for Spanish companies must not exceed 20% of your total income
  • If you are freelance you must be able to provide the terms and conditions of your work with at least one company outside Spain

The visa will initially be granted for a year, with a two year extension allowed, followed by another two year extension which will bring it up to a total of five years. It is thought that there may be introduced a route into permanent residency after the five year period but this has yet to be confirmed.

It has not yet been confirmed where you will apply for this visa. In the case of the Non-Lucrative visa for example you must apply from your home country but it is looking more likely that you will be able to apply for the digital nomad visa within the 90 day period of the Schengen visitor allowance as one of the requirements will be to prove an address here.

As more details become known and dates are confirmed we will continue to keep you informed. And when the digital nomad visa is up and running we will be able to assist you with the process, so feel free to get in touch now to get the ball rolling.

The Spanish Golden Visa

The Spanish Golden Visa is currently a hotter topic than ever. Post-Brexit, British nationals have joined the ranks of non-EU citizens who have to concern themselves with visas for living and working in Spain and for spending unrestricted periods anywhere within the Schengen zone. The Golden Visa can be a great solution.

With the Spanish Golden Visa you get automatic residency, the right to live and work in Spain and the right to unlimited travel within the Schengen zone for you and your family. You are not even obliged to spend a minimum length of time per year within the country – other visas require proof that you spend at least 6 months a year, which is also the length of time that makes you a fiscal resident. 

A stunning property for sale close to the beach in Ribadesella, Asturias Northern Spain...

A stunning property close to the beach in Ribadesella…

In short, the golden visa gives you the most rights and freedoms with the least limitations and obligations and is well worth considering if you have the means to meet the investment criteria.

The simplest way to obtain the Golden visa is by investing a minimum of 500,000€ in property within Spain. This can be spread across a number of properties and a range of areas and there is no set time frame within which you must make the purchases.  So, if you already own a property in Spain that could count towards it. One important point to note is that the qualifying 500,000€ must be paid for out of your own pocket. You can take out a mortgage on anything above that amount if your purchase is more expensive.

Many non-EU citizens wishing to make the move to Spain are opting to buy their main family home at a more modest cost and making up the rest of the required Golden Visa spend with investment property. With a booming tourist rental sector if you invest wisely you could be looking at a healthy income from your investment as well as starting your new life in Spain in the home of your dreams.

At the present time the visa is shceduled to be discontinued but there has been no absolute date fixed

Full details of requirements are listed here on the Spanish government website

If you are interested in a Golden Visa some of the properties on our site that may interest you are:

Stunning five bedrooom modern villa just oustide Cangas de Onis

A lovely, large stone-built hotel in the countryside of Parres

This luxury villa with a pool next to the Sella river

This magnificnet detached villa next to the estuary in Villaviciosa

And if you are interested in learning more about the visa please get in touch….