Spain is a perennially popular destination for expats. But since the UK left the European Union, British expats hoping to move to Spain permanently need to secure a visa. There are a variety of different visas for which you can apply. One of the most popular of these is the Golden Visa scheme. This means that, as a non-European, you will be given a residency permit to live in Spain, as long as you make an investment of €500K in the country. Most people applying for this visa, opt to invest in property. The minimum investment before taxes is €500,000 and this typically jumps to around €600,000 once taxes and other extra costs and fees are added. The main advantage of this scheme is that it gives non-EU citizens access to the entire Schengen area. However, it still doesn’t allow you to work in Spain. To be eligible for a Spanish Golden Visa, you must make one of the following investments:
· Purchase real estate in Spain worth at least €500,000. The real estate can be one single property or several, with an overall worth of no less than €500,000.
· Make an investment in the Spanish public debt of at least €2,000,000.
· Buy shares in a company or make a deposit in a Spanish bank of at least €1,000,000.
· Invest in a new business that will offer employment opportunities, contribute to scientific and/or technological innovation and have a relevant socio-economic impact in the area where the business will be undertaken.
In addition to the investment, you must also fulfil the following requirements:
· You must be over 18.
· You must have no history of criminal records.
· You must not have been refused a visa in the past.
· You must have health insurance in Spain.
Once you decide on getting this kind of visa, head to the Spanish Consulate in the UK to get a stamp in your passport that allows you to travel to Spain, with multiple entries and exits, for one year. You’ll need to present your property’s deeds to prove that you have made the property investment. So, while the process of moving to Spain as a British expat has become significantly more complicated since Brexit, it’s not impossible.