The Spanish Golden Visa program was launched by the Law 14/2013 on support for businessmen and their internationalization, which came into force on 29 of September 2013. It simplifies for non-EU foreigners to enter Spain and settle here for reasons of economic interests (such as wealth protection).
Our law firm has been successfully active in the field of Resident Permit procedures for many years, and by the following, we would like to bring to your attention the requirements necessary to successfully obtain the residence permit.
Investors can apply for a visitor’s visa or residence visa when they make a significant capital investment complying with the following requirements:
- Purchase of one or more real estates in Spain with an investment equal to or greater than 500,000 Euros net of charges and taxes, demonstrating that he is their owner. The part of the investment that exceeds this amount shall be able to be subject to a charge or lien.
- Initial investment of a value equal to or greater than 2 million Euros in Spanish government bonds, or of a value equal to or greater than 1 million Euros in shares or stakes in Spanish companies, or bank deposits in Spanish financial institutions.
- A business project of general interest that is going to be developed in Spain, whether because it creates jobs, or it has a major socio-economic impact on a certain geographical region, or because it is important for scientific and/or technological innovation.
- If the investment is made by a legal person, this one must have its place of business in a territory not considered to be a “tax haven” in accordance with Spanish regulations, and the foreign applicant must, directly or indirectly, hold the majority of its voting rights and have the power to appoint or dismiss the majority of the members of its governing body.
Investors who do not reside in Spain must apply for a one-year residence visa, while investors who are legally in Spain must apply for a two-year residence authorization.
This authorization has a length of one or two years (depending on the investor ´s status), renewable for an additional period of five years, given the initial requirements that generated the right are met and the investor has at least once visited Spain during the visa ´s period. After ten years of full-time residency in Spain necessary the Spanish
citizenship can be acquired.
The general requirements for the admittance of the Golden Visa are:
- Not to stay in Spanish territory illegally.
- To be older than 18 years of age.
- No criminal record in Spain nor in other countries where the applicant has lived during the last five years, for offences stated in the Spanish Criminal Code.
- Not be subject to an alert issued for the purposes of refusing entry in the territorial space of countries with which Spain has signed an agreement in this regard.
- Have a public or private medical insurance with an insurance company authorised to operate in Spain.
- Have sufficient economic resources for themselves and their family members during their period of residence in Spain.
- Have paid the fee for processing the authorisation or visa.
We are pleased to offer you our expertise and experience in the field of Residence Permits procedures. Having only our client´s best interests in mind, our individually tailored attention service will leave you in our professional´s trusted hands.
Our full-service approach allows us also to counsel and support you on all investment matters necessary to obtain the Golden Visa.
If you have any questions regarding the Spanish “Golden Visa” program, please feel free to contact us.