The Golden Visa grants a residence permit of up to 3 years, renewable, through a significant investment in Spain.
The Golden Visa will soon be eliminated in Spain. However, until this happens there are still a few months left to obtain an investment visa. The Spain's Golden Visa program offers enormous benefits for the holder and his family, so now is the time to obtain a residence by investment.
When the repeal of the Golden Visa is approved in Spain, the rule will take three months to come into force, which still offers a margin to process it.
IMPORTANT: the Golden Visa cards obtained can be renewed according to the current legislation. The benefits are maintained for those who have already been granted a golden visa.
This residence by investment visa offers advantages such as:
- Residence for the holder and also for his family members.
- Free movement throughout the European Union.
- Work permit for both self-employed and employed.
- Simple requirements based on investment.
- Residence for 3 years, renewable for 5 more.
- Possibility of applying for Spanish nationality after completing the legal period of residence in Spain.
- You will not need to be a tax resident, you will only have to enter Spain once a year.
The Golden Visa can be processed in two different ways:
- Visa: If you are outside of Spain, submit the application at a Spanish Embassy or Consulate. The duration is 1 year.
- Residence Authorization: If you are already in Spain as a tourist or with a valid residence permit, you can submit an application online to the Large Companies and Strategic Groups Unit (UGE-CE). The duration is 3 years.
Types of investment provided for the golden visa
To obtain the Golden Visa in Spain, you have different investment options that are not limited to one property.
How much money should be invested to obtain a Golden Visa residence by investment?
The three scenarios are:
1. Acquisition of properties for a total minimum value of €500,000.
A single property can be purchased for at least this value of €500,000, or you can also purchase several properties that, in total, amount to at least the same amount.
This property must be purchased without using financing for the required part of €500,000, but the excess may be financed.
Likewise, this property must be free of encumbrances.
2. Acquisition of financial assets, in a minimum amount that will vary according to the type of asset purchased:
- Two million euros in Spanish public debt securities.
- One million euros in shares or equity interests in Spanish companies with real activity.
- One million euros in investment funds, closed-end investment funds or venture capital funds in Spain.
- One million euros in bank deposits in Spanish financial institutions.
3. Business Project: Develop a business project that generates employment, involves a boost in technological or scientific advances in Spain or that has a significant socioeconomic impact. Requires obtaining a favourable report prior to the application.
Requirements for the Golden Visa
The applicant for a Golden Visa by investment must meet the following requirements:
- Be of legal age, that is, over 18 years old.
- Not have a criminal record in Spain, nor in any country where he has resided. The period that must be proven to be clean of criminal records is 5 years.
- Have public or private health insurance that means having health coverage in Spain. Travel insurance or other medical insurance contracted abroad are not valid.
- Prove sufficient financial means for both the investor and his family.
- Prove the investment made according to the chosen option.
Benefits of the Golden Visa or Investment Visa
This residence through the Golden Visa is one of the most complete and beneficial that can be obtained in Spain. The main benefits granted by this investor visa are:
- It grants a residence permit in Spain (1 or 3 years depending on the form of application made).
- It grants a work permit, both for self-employment (as a freelancer or starting your own company or business) or for someone else.
- The permit can also be obtained for the family members of the investor holder (spouse, children under 21 years of age or dependent adults) and the different applications can be made at the same time, thus offering a joint option without waiting.
- A privileged period of validity can be obtained for an initial residence permit, since the Golden Visa can be obtained for up to 3 years.
- It does not require being a tax resident in Spain, nor staying in the country. It will be enough to travel to Spain once a year.
- Total mobility within the Schengen Area.
- You will not need to move to Spain to apply for it, as you can also apply for it via consulate.
- The length of residence in Spain (provided you meet the required periods of stay) counts for the purposes of applying for Spanish nationality.
Documentation supporting the investment to obtain the Golden Visa
The supporting document for the investment made to obtain the Golden Visa varies according to the type of investment made:
- In the case of the purchase of real estate
The purchase of the property/ies must be accredited through a Certificate of ownership and encumbrances issued by the Property Registry where the properties are registered.
- In the case of the purchase of shares or business interests
A declaration of the investment from the Investment Registry of the Ministry of Economy or the National Securities Market Commission must be provided.
- In the case of investment in public debt or bank deposits
This must be accredited by a bank certificate issued either by the Bank of Spain or by the entity that managed the purchase where the applicant is listed as the owner of the investment.