12 May 2015
New Golden Visa Rules Open Up Gran Canaria Property InvestmentsPublished in Living in Gran Canaria, News
Spain's new Golden Visa regulations are now much more flexible and allow property buyers to get work permits and residency for their family. The minimum property investment for a Golden Visa in Spain remains €500,000, but this can be spread over a portfolio of properties. Current owners of property in Spain can count the price of their existing property and top up their investment to reach the €500,000 limit. Spanish Golden Visa's are most attractive to non-EU citizens and have been popular amongst Chinese, Russian and Middle-Eastern investors. They are now also available to British citizens. The most important new changes are as follows.
- Golden Visa holders can now get a Spanish work permit
- The Visa now covers partners as well as legal spouses and children under 18
- Children over 18 years of age are now also covered by the Visa
- The application process can now begin in Spain rather than in a Spanish embassy in an applicant's home country
- Applications can start as soon as a deposit is paid.