Get your Golden Visa in Spain
Obtaining the Golden Visa is the fastest and easiest way to obtain residency in Spain. With it you can travel freely in the Schengen zone, which means most of the countries of the European Union.
If you meet the requirements as an investor, you are not a citizen of the European Union and you want to obtain its advantages or you plan to invest in Spain, obtaining the Golden Visa is the most reasonable thing to do.
What is the residence visa for investors or Golden Visa?
It is a way to obtain residency in Spain regulated by Law 14/2013, of September 27, 2013, to support entrepreneurs and their internationalization. The applicant does not have to be in Spain, it can be obtained through a representative.
It is a legal figure designed for citizens from outside the European Union who have investment capacity and want to reside in Spain. They can regroup their family, with a single investment.
In addition, the Golden Visa only requires that you visit the country once a year. It gives you a two-year term to live and work in Spain and the following renewal periods will be for five years, until you obtain permanent residency if you so desire.
As you can see, if you are a non-EU citizen and meet the requirements, obtaining the Golden Visa is one of the most effective ways to reside and travel throughout the Schengen area.
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Golden Visa benefits
The residence permit for investors or Golden Visa, offers the following:
- It enables to work and live legally in Spain.
- It is not necessary for the applicant of the permit to be physically present in Spain, it can be done through representation of a third party.
- The initial period of residence is 2 years after obtaining it (art. 67 Law 14/2013). As opposed to the one year of the normal permit.
- The renewal of the permit can be done for successive periods of 5 years. Until permanent residence is obtained if so desired.
- To obtain the Golden Visa, it is not required the residence in the Spanish territory, for a long period. It only requires the applicant to travel to Spain once a year.
- It allows the freedom of movement in all the Schengen zone, that is to say the majority of countries of the European Union, including Norway, Iceland, Switzerland and Liechtenstein that are not part of the EU. Some ultraperipheral territories are also included, such as the Canary Islands, the Azores and Madeira.
- The applicant of the main permit (the investor), may also apply for the residence permit of his or her spouse and also of their children.
REQUIREMENTS
Golden Visa Formal Requirements
The applicant investor must comply with the following formal requirements:
- The investor must not be a citizen of a member country of the European Union.
- The investor must be of legal age, the legal age in Spain is 18 years old.
- The investor must prove that he/she has not had a criminal record in Spain or other countries for at least 5 years.
- He must contract health care for himself or for his family members in Spain.
- Must prove that the investor has financial means to support the investor or his family, if the permit was requested for them as well.
- It must be demonstrated that any of the economic requirements have been met by providing the relevant documentation.
- Finally, for the renewal of the visa after the initial 2 year period, it must also be demonstrated that the economic requirement for which the visa was granted is maintained.
Golden Visa Economic Requirements
The Law 14/2013 requires as an obligation to obtain the Golden Visa, to comply with one of the following economic requirements:
- A capital investment of two million euros in Spanish public debt, or
- One million euros in stocks or shares of Spanish capital companies that must have a real business activity, or
- Investing the amount of one million euros in investment funds, closed-end investment funds or venture capital funds, legally established in Spain.
- It is also possible by depositing one million euros in a Spanish financial institution.
- Regarding the purchase of real estate, the requirement will be fulfilled by investing 500,000 euros in real estate, which can be several or one of a larger amount. The applicant’s own funds investment must be at least 500,000 euros, although nothing prevents that which exceeds the amount is the result of financing.
- Finally, it is also possible to invest in a business project developed in Spain and which is of general interest. For which it will have to comply with at least one of the following: the creation of jobs in Spain, that it has a minimum socioeconomic impact and that it provides a relevant scientific and/or technological innovation.
The investment does not have to be made in the name of the investor directly, but may be carried out by a legal entity (company), registered in a territory that is not considered as a tax paradise. For this, the investor must own directly or indirectly, the majority of the voting rights and have control of the management body.
In the event that the investor is a married couple in community of property, unless the amount of the investment is doubled, it will be understood that the investor is one of the spouses and the other may apply for the residence visa as a relative of the investor.
