Investment Visa or ‘Golden Visa’
*Please note, this is a summary of the full article below. For detailed information, please read the complete article.
You will be issued with a Golden Visa if you invest at least 500,000 euros in property or other assets. The application process is much quicker than other visa applications and it allows you to work and live in Spain for a minimum of two years while you maintain your investment. The can include your direct family members as beneficiaries and there is no obligation to stay in Spain for a minimum amount of time.
Full Article or Translation
The investment visa or Golden Visa as it is often known is a residence visa for individuals who wish to invest a minimum of 500,000 euros in Spain. The visa provides residency status to the individual and their family members.
You can be issued a Golden Visa if you buy property in Spain worth at least 500,000 euros. This can be an individual property or various properties that total 500,000 euros or more.
In addition, a Golden Visa is issued if you:
Buy shares in a company worth a minimum of 1,000,000 euros
Invest a minimum of 2,000,000 euros in Spanish public debt.
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.
-You must be of legal age.
-You must have health insurance in Spain.
-You must have no criminal records history.
-You must not have been refused a Visa in the past.
You must apply for the Golden Visa at your nearest Spanish consulate. It is not necessary that you have made the investment but you must show evidence that you are contractually bound to it.
If you have purchased a property in Spain, you must prove you have acquired ownership of the property through a certificate issued by the Land Registry within the three months prior to the application.
This certificate must include the purchase amount (no less than €500,000).
Once you receive your investment visa, it will be necessary to travel to Spain to apply for your residency permit. Family members must apply for the residency permit in Spain providing evidence of the family relation. For example marriage certificates etc (up to date, legalised and sworn translated in Spain).
Regarding family members, the husband or wife, children under 18 years old and dependant elderly parents can apply to be beneficiaries of the Individual who invests in Spain.
What can I do with the Golden Visa?
The golden visa allows you to work and live in Spain for the duration of the residency permit, as long as you maintain your investment in Spain.
Once you have exchanged the residence visa for your residency permit, the permit lasts for 2 years, as long as you maintain your investment in Spain.
There are no limitations as to when you can leave and enter the country (as with the Non-Lucrative visa for Non-EU nationals in Spain).
LingoMar can assist you through our specialist immigration lawyers. Get in touch via the contacts page HERE
*this article will be updated regularly as changes to the legislation occur and when new information comes to light. Be sure to check back to see new updates.