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Costs of getting a Golden Visa in Spain

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.

 

Untitled-2In 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.

Costs of getting a Golden Visa in Spain

 

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