I am considering a golden visa for Spain but I have a few unanswered questions. Anyone planning or going through this process? My biggest questions are:
1. If the golden visa requires the visa holder to maintain the property investment during the time they hold the golden visa, what happens if they switch to another visa category such as permanent Spanish residency or Long-Term Resident - EU? Can the property then be sold?
2. After five years of residency under the golden visa, will Spain give me a Long-term Resident - EU visa which allows visa holder to live and work anywhere in the EU after five years of country residence? I believe that the EU member countries are required to grant it but some countries refuse.
I would contact an attorney if I felt they were ready to make the investment and I felt they were completely qualified to answer all my questions but I am not at this stage yet.
I can try to answer any other questions you might have.
Thanks.
Anyone working on a Golden Visa?
Taxation in Spain is general on one's worldwide income, and even on assets (patrimonio tax) which must be declared if over 50,000€
Anyone with significant wealth would be wise to take very good (so expensive) financial advice before doing so.
Dear Ximon,
Have you checked how it works in Portugal? Portugal also has the Golden Visa program and it is at a lower cost. Message me, I will be able to help.
Inezagui, thanks I have looked into Portugal which has a good program but then I started focusing on Spain. I have the same questions I posted above about the Portugal golden visa.
Also, I read that Portugal allows you to sell the property after 5 years. But what happens then? Do you lose my residency permission and then need to find another long-term visa option if I wish to remain?
Dear Ximon,
I know the process in Portugal, it requires a lower capital than Spain, it goes from €350k to €500k. Properties can be sold when you have the residency. A really good thing in the Portuguese visa which appeals a lot of investors is that you'll only have to spend 7 days in the country.
After 5 years you can apply for citizenship which is a fairly easy process. This residency and citizenship will allow you to live, work, study in any country in the Schengen space.
I have the means to help you in Portugal, introduce you to properties and to a law firm that mainly deals with Golden Visas.
Where are you based? Feel free to contact me to my email [email protected]
Apologies, property can be sold when you have citizenship. Or you can sell it if you buy a 500k before. This way you can realease some capital from a previous investment if you'd like to.
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