Costs of getting a Golden Visa in Spain

A Golden Visa in Spain is a way for non-EU citizens to obtain a residence permit in Spain. With this residence permit people from countries like India, Kenya, China and Russia can work and live in Spain with their families – and travel freely to other European countries. However, this is not a free service. The first requirement is to buy property worth € 500,000. And there are more costs of getting a Golden Visa in Spain.

Costs of getting a Golden Visa in Spain

The € 500,00 you spend on property needs to be your own money – it cannot be a mortgage. The good news is you can spread the investment. You can for instance buy several properties that are each worth less than € 500,000. You can also spend € 150,000 on a property now, another € 150,000 after a year and € 200,000 the year after.  However, you can only apply for the residence permit after you have invested the entire € 500,000. What are the other costs of getting a Golden Visa in Spain?

• Taxes and other transaction costs are not included in the € 500,000. You will have to pay stamp duty, notary costs and registry fees. Should you buy property in a new development you will have to pay VAT (usually 10%). On average taxes, registry costs, notary costs and lawyer fees for the purchase of a resale property are around 12%. This means you will have to take into account an amount on top of the € 500,000 of about € 60,000.

• The actual costs of getting a Golden Visa in Spain. You will have to get a specialized lawyer who can take care of the visa and residency permit application for you. This of course depends on the lawyer but will usually amount to around € 3,500 plus 21% VAT – so around € 4,250.

• The total costs of getting a Golden Visa in Spain. In considering if the Golden Visa is an option for you, you should keep in mind that the total costs of getting a Golden Visa in Spain amount to € 500,000 + 12% + € 4,250 = around € 565,000. You should be able to pay this from your own money and the amount can increase further if you need to for instance pay translator fees.

In association with one of the biggest law firms in the south of Spain we have written a
digital brochure about the costs, benefits, requirements and process of obtaining the residence permit. Wish to receive it? Then fill in your name and e-mail address and click ‘send’.

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More information about the Golden Visa in Spain

This article with 10 tips about the Golden Visa and this article about what a Golden Visa is may be useful to you as well.