Are you intend to acquire a home in Spain? Are you a foreigner? If so then pay attention.
It is a new type of residence visa, established by the Law 14/2013, of the 27th of September, aimed at those non-resident foreigners who want to enter the Spanish territory in order to carry out a significant capital investment. The real estate advisory at team Elisa Overseas Properties we can explain what it is, how it can be processed the alternatives , what the benefits are, where to apply, what general and specific documentations you will need…
What type of visa is obtained with this category?
You get a visa called Golden Visa or Gold Visa.
Residence visa: To reside, at least, 1 year
Residence authorization for two years that may be renewed:
If the investment made is maintained and
If you have made at least one visit to Spain during the period of residence.
To apply for the initial residence authorization, you must hold an investor visa.
Who can apply?
Those investors who make a significant investment in Spain:
Real estate assets (€ 500,000)
Shares or bank deposits (€ 1 million)
Public debt (€ 2 million)
Business projects in Spain considered of general interest.
What are the main benefits of having a Golden Visa?
The Golden Visa enables its owner to live and work in Spain for a period of one year. The visa can be renewed for two periods of more than 2 years each, provided that the maintenance of the property is proven.
Finally, long-term residence can be obtained whenever the applicant has proven his residence in Spain for 5 years; that is, he has not lived outside of Spanish territory for more than 10 consecutive months or for less than 6 months.
In addition, the Golden Visa allows the free movement of the investor through the Schengen area; this means that you can move across Germany, Austria, Belgium, Denmark, Slovakia, Slovenia, Spain, Estonia, Finland, France, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Norway, the Netherlands , Poland, Portugal, Czech Republic, Sweden and Switzerland.
Where to apply?
The visa will be processed at the Consulate of Spain in the country of origin or residence.
The residence authorization will be processed in the Large Companies-Strategic Collectives Unit.
- Identity card or passport.
- Public or private insurance of illness arranged with an entity that operates in Spain.
- Criminal record.
- Accreditation of sufficient financial means for themselves and their family members during their period of residence in Spain.
Specific Documents accrediting the investmentReal estate:
- certificate of the Property Registry and deed of purchase of the real estate.
- Unlisted shares or shareholdings: investment statement presented in the MINECO Investment Registry.
- Quoted shares: certificate of a financial intermediary registered with the National Securities Market Commission or the Bank of Spain in which the investment is found.
- Public debt: certificate from the Financial Institution or the Bank of Spain in which it is established that the applicant is the sole owner of the investment for a period equal to or greater than 5 years.
- Bank deposits: certificate from the financial institution that shows that the applicant is the sole owner of the bank deposit.
- Business project: prior to the request for a visa or authorization, a favorable report on the entrepreneurial and business activity that will be developed in Spain must be requested.
Can I keep my taz 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
What is meant by project of general interest?
The one that supposes the creation of jobs.
Realization of an investment with socioeconomic impact in the geographical area where it will be developed.
The one that supposes a relevant contribution to the scientific and / or technological innovation.
Where is the report of general interest requested?
For visas, the report of general interest must be requested prior to the visa application in the Economic and Commercial Office of Spain within the scope of the geographical demarcation where the visa is requested.
For residence authorizations, the report of general interest must be requested prior to applying for the residence permit in the General Directorate of Trade and Investment.
To request this report must be delivered:
The business plan of the project, in particular: professional profile of the investor, activity to be developed, how many jobs will be created, characteristics and qualification required of each of them, where the project will be developed (geographical area) and how much is the investment and origin of it.
Benefits of the Golden Visa
The residence permit allows residence and work and is valid throughout the national territory.
Obtaining does not require effective residence in Spain, meaning that it is greater than 183 days. It is only required to visit Spain once during the period of residence.
Joint processing of the authorization of the spouse and children.