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.
Why is the Golden Visa a Popular Choice?
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.
Properties for sale in Las Colinas Golf & Country Club start from €246,000 and go up to over €4,000,000. Therefore many of our properties for sale here qualify you for a Golden Visa providing you can also prove you have the economic means to support yourself and your family. It is therefore a popular choice among non EU Las Colinas residents.
Proof of Economic Means
As well as making the initial investment, you must be able to prove that you have the financial means to support yourself and any family members. You can do this by proving you have enough money in your bank account for the full year ahead or by proving you will receive enough via a monthly income such as a salary or pension.
The Spanish IPREM is used to calculate the required economic means. This is an index in Spain giving an income benchmark. To qualify for a golden visa you must be able to prove that you have or will have 400% of the Spanish IPREM plus 100% for each additional family member.
The IPREM in 2021 is €564.90 per month. Therefore you must be able to prove that you will have a monthly income of 400% of this which equates to €2,259,60, or that you already have €27,115.20 (a years worth) in your bank account. You must then have an additional 100% per family member which equates to €564.90 per month or €6,778.80 per year.
If you would like more information about the golden visa and the application process then you can read about it here on the Consulate of Spain in London website.