WHAT IS A GOLDEN VISA?
In 2013, Spain introduced a new type of Visa and residence permit for investors known as the Golden Visa. The main purpose of this was to encourage foreign investments in Spain by foreigners who are not citizens of the European Union.
BENEFITS OF A GOLDEN VISA:
- A new type of Visa which allows you to enter and stay in Spain for a period of 1 year, increasing the usual period of 90 days for non-resident.
- Allows to circulate freely and without restrictions along the “Schengen” area (Spain, France, Germany, Austria, Belgium, Denmark, Estonia, Finland, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Czech Republic, Liechtenstein, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovenia, Slovakia, Sweden and Switzerland).
- A new type of residence permit, which can be requested at the end of the visa, and which is valid for two years’ renewable for a period of two years more.
- Does not entail a minimum period of residence in Spain of 183 days for its renovation (the beneficiary can keep his tax address out of Spain).
- Together with the investor, his spouse, children under 18 years or dependent adults due to health reasons can request the Visa.
TYPES OF GOLDEN VISA:
The most common way of obtaining a Golden Visa is by acquiring a real estate asset valued at €500,000 or higher. Other ways include:
- An investment equal or higher than 2 million euros in Spanish public debt titles.
- With the aim of shares acquisition of Spanish companies, or bank deposits in Spanish financial entities, for an amount equal or higher than one million Euros.
- With purpose of developing a business project in Spain considered and confirmed being of general interest due it to fulfilling certain requirements, e.g. creation of work or relevant contribution to the scientific and/or technological innovation.
- Not having entered or stayed illegally in Spanish territory.
- Being of legal age (18 years old).
- Not having criminal records in Spain and in the countries where the petitioner has lived during the last 5 years.
- Not appear as refused in any country which has a valid agreement with Spain in this sense.
- Have sufficient economic resources for the person and for the members of his family during his residence period in Spain.
FREQUENTLY ASKED QUESTIONS:
Can I keep my tax residence outside Spain?
Yes. The holder of the permit can keep his tax residence outside Spain, as long as he stays in our country for a period less than 183 days per year. Also, the residence permit can be renewed even with absences longer than six months per year.
Does the Golden Visa authorize me to work?
Yes. The Golden Visa authorizes to live and work in Spain. This results from the Fourth Additional Provision of the Law, which states a single proceeding to request a permit authorizing to live and work.
Is the €500.000 euros per petitioner or per application?
Per petitioner, but he can also include his companion relatives, who can jointly and simultaneously or successively request the authorization and, in case, the Visa. Nevertheless, they must fulfil the general requirements and prove the relationship bond through their corresponding certificates.
Who have the consideration of companion relatives in order to request the investor Visa?
The position as relatives will be considered for the spouse and the children less than 18 years or of legal age that are not objectively able to provide their own necessities due to their health condition.