Golden Visa in Malaga and Marbella

The process for getting a Spanish Golden Visa is quite straightforward since there is a department exclusively dedicated to this procedure. This means that the process is usually resolved in a short period.

According to article 67 of Law 14/2013 regulating the Golden Visa, if the purchase of a Spanish property has been proved, the initial authorization for the residence of investors will last for 2 years.

Once this has expired, those who would like to continue to reside in Spain can apply for a renewal of their residence permit every five years, as long as the requirements of the Spanish Golden Visa are upheld, i.e. the initial investment has been maintained by the visa holder.

In case the investor is outside of Spain, the interested party must request the investor visa at the Spanish Consulate in their country of residence.

If the corresponding official considers all the documentation to meet the requirements, they will notify you within 10 days with the result. If the officials require additional documentation, including an appointment for an in-person interview, they can modify this period. The approval will grant you a one-year visa that you must pick up within one month at the consulate.

This visa will allow you to travel around Europe and the Schengen area. Once in Spain, during this one-year period, the applicant will have the opportunity to apply for an initial residence permit for himself and his family members. This permit will be valid for two years and allow the applicant and his family to work and stay in Spain.

If the investor is already in Spain, they can apply directly for the residence authorization, without needing to previously process the investor’s visa.

The investment can be made both by a natural person, as by a legal person (SL or SA for example), as long as they are domiciled in a territory that does not have the status of tax haven by Spanish regulations, and meets another set of requirements.

Applications may be submitted by the investor him/herself or by an accredited representative. Because the processing is necessary through the electronic Government Headquarters, with a digital certificate recognized by the Spanish authorities, the assistance of a professional who is accredited and familiar with this type of procedures is highly recommended. You can count on the immigration specialist lawyer Maria Soledad Sala, through Tejada Solicitors.

Here, we advise you to do the process directly with the Unit for Large Companies of Spain, the Spanish organization allowed for this purpose, since the fees are less expensive here than in the Consulates.

The Golden Visa must be represented in-person by the individual or an authorized representative on their behalf. 

1. The Application Form and payment of the fee.
2. Photographs: Two recent coloured photographs, passport or ID size, with a white background.
3. Certification of Ownership and Property Registry, issued within 90 days before the visa application has been submitted (The certification will incorporate an electronic verification code for online consultation). And a copy of the Deed of Sale.You can apply for a Golden Visa without signing a public sale deed. In such a case, the applicant investor and seller will present the signed deposit contract and a certificate verifying that an unavailable bank deposit is sufficient to fulfil the deposit contract from a bank located in Spain.
   
4. Travel documents: Valid passport or travel document recognized by Spain with a minimum validity of one year. Photocopies of all pages of the passport or relevant travel document where the holder’s details, stamps, and visas appear.
5. Certificate of criminal Record: Certificate(s) of criminal record from the country(s) of residence in the past five years, with translation into Spanish duly legalized.
6. NIE Number: Applicants (and their family members who are also applying) for the visa must be in possession of an NIE.
7. Economic Proof: Applicants must demonstrate that they have sufficient funds to support themselves and any family members with a visa when residing in Spain for at least one year. 
8. Contract with medical society working in Spain: Coverage of all risks of the applicant’s healthcare and any dependents without co-payment. Tejada Solicitors can help you contract adequate private insurance for this type of procedure.

Not necessarily. According to Law 14/2013 regulating the Golden Visa, there is no requirement to reside in Spain for the renewal of the Golden Visa, and so from a tax point of view, it is not obligatory to be a tax resident in Spain.

Having a Golden Visa does not require you to reside in Spanish territory, therefore you are not required to pay tax as a Spanish tax resident. If the tax rules of your country of origin are more favorable, you can opt to pay your taxes there, and pay non-resident tax in Spain.

It’s important to distinguish between the law that regulates the residence through the Golden Visa and the law that regulates tax residence in Spain. According to the rules of tax residence in Spain, and in accordance with article 9 of Income Tax Law 9, the following criteria determines whether a taxpayer has permanent residence in Spanish territory.

To be considered a habitual resident of Spain, one of the following criteria must be applicable:

• Residing more than 183 days during a calendar year in Spanish territory – sporadic absences will be taken into account when calculating the period of time residing in Spanish territory unless the individual can prove they are a resident in another country for tax purposes.
• The main base for activities and economic interests is directly or indirectly located in Spanish territory.
  Unless proof of residence elsewhere is presented, it will be presumed that the taxpayer is a habitual resident in Spain when, in accordance with the above criteria, the spouse who is not legally separated and the minor children dependent on the taxpayer are permanently residing in Spain.

If according to the above, holders of the Golden Visa are considered habitual residents of Spain and thus a taxpayer, they will have to pay tax on their worldwide income in Spain. Double taxation can be avoided through the double taxation agreement between Spain and the country of origin of the income. You can find out more about the tax implications as a Spanish tax resident using the following guide on Tax Returns in Spain.

On the other hand, if, according to the tax rules, holders of the Golden Visa are considered for tax purposes as non-resident of Spain, they will be taxed as tax residents in their country of origin instead.

Some of the tax implications will be:

1. The income statement in Spain is a tax levied on the worldwide income of all taxpayers (expatriates) living in Spain. It is known as the Personal Income Tax (IRPF or Income Statement) (pensions, stocks, bonds, rental income, bank accounts, dividends, income from personal work, etc.). You can read more about these tax implications at the following link https://tejadasolicitors.com/tax-spain/tax-return-spain/Consequently, you are entitled to benefit from the double taxation agreement between Spain and your country of origin, preventing you from paying taxes twice.
2. Check if it is necessary to complete Form 720 (you can read about this Form in the following link, https://tejadasolicitors.com/blog/form-720-spain/)
3. The Wealth Tax is filed through Form 714 (for residents living in Andalusia), and it must include all of your global assets and economic rights. Currently, the wealth tax in Andalusia is no longer in effect; however, the state intends to make a new tax available. To read more about the wealth tax obligation, please see the following article: https://tejadasolicitors.com/blog/wealth-tax-scrapped-andalusia/Tejada Solicitors can assist you throughout the property conveyancing process. If you wish to reside in Spain, we will provide you with a detailed study of the cost of buying a property in Spain, assist you throughout the purchase process, and provide you with tax advice.Rosana Tejada is a tax adviser at Tejada Solicitor. She always advises her clients that before deciding to live in Spain, it is a good idea to study how much tax they will be required to pay in Spain, including the worldwide income they earn abroad. Our clients can decide if they want to move to Spain by comparing the most appealing tax option.