What is the Golden Visa Spain program and the residence permit for investors?
The Spanish Government introduced in 2013 a new legal framework that facilitates the movement and residence of foreign investors in Spain. Law 14/2013 (later modified by Law 25/2015) facilitates the entry of investors and establishes an agile and specific system for granting visas and residence authorizations for those foreigners who have chosen Spain as their preferred place of investment. . Which means that any foreign investor who meets the requirements and invests at least € 500,000 in real estate, is offered a quick and easy way to obtain a residence permit in Spain.
Minimum investment: € 500.000
Duration of the procedure: 40 to 60 days
Initial validity: 2 years renewable 5 years ...
Free mobility: Shengen area (27 countries)
Various ways to obtain the Golden Visa in Spain
· Buy a property in Spain for residential or commercial use with a value equal to or greater than € 500,000.
· Acquire an amount of € 1,000,000 or more in capital stock in shares or participations in national companies.
· Maintain bank deposits that reach the amount of € 1,000,000
· Make investments to buy Spanish public debt of € 2,000,000 or more.
· Make an investment for the constitution of companies oriented to scientific and technological innovation that have an economic interest for Spain and generate employment.
This type of residence does not require effective residence in Spain. It is only required to visit Spain once during the validity period of the residence permit.
This residence card will allow you to work in Spain without the need to request any additional permits. You will be able to work for someone else (as an employee) or on your own (as a self-employed person), with the only obligation to comply with the same legal requirements demanded of Spaniards. With this residence card you can travel to any Schengen country. After two years, the interested party will be able to obtain a new residence card that will be valid for five years. To do this, you must prove that you continue to meet any of the requirements for obtaining the initial residence card.
RENEWALS:
Renewal of the investor authorization: 5 years. No effective residence is required for renewal. It can be renewed indefinitely as long as the investment is maintained.
Can the investor and his family apply for a visa jointly?
Yes, at any time they may request, jointly or successively, authorization and / or visa.
- Spouse or domestic partner.
- Minor or older children who are financially dependent on the owner.
- Ancestors in charge.
IMPORTANT ASPECTS TO HIGHLIGHT
The visa and authorization are valid to work and reside throughout the national territory, including family members if they meet the age established in the labor regulations.
The requirements to obtain a Golden Visa in Spain are the following:
· Be over 18 years of age.
· Have the Foreigner Identification Number (NIE)
· Have the certificate of ownership, charges and encumbrances from the Property Registry in Spain.
· Prove that there are sufficient financial means to support the applicant and family members.
· Be the holder of a bank account in Spain to which an amount destined to the applicant and another for each member of the family must be transferred, in addition to 100% of the Public Indicator of Income with Multiple Effects (IPREM).
· Not having entered Spain or residing in the national territory, illegally or irregularly.
· Be the holder of a national health insurance.
· Not having a criminal record in Spain, in the country of origin or in the country of residence for the last five years.
· Not appear as objectionable in the territorial space of the countries with which Spain has signed an agreement in this regard.
· Have the residence permit application form.
· Pay the authorization or visa processing fee.
Subsequent documents to apply for Golden Visa
1.-Passport in order (photocopy of all the pages of the passport, which must be valid for at least one year).
2.-Application form for the residence visa in the official model, in duplicate and duly completed by the applicant.
3.-Public or private health insurance with an entity that operates in Spain.
4.-Certificate of criminal record that must be obtained in the competent bodies of each of the countries where the applicant has resided during the last five years and it will be necessary to present an official translation.
5.-Two photographs
6.-Accreditation of sufficient financial means for themselves and for the members of their family during their period of residence in Spain. Bank statement that demonstrates the possession of sufficient funds for the maintenance of the applicant (and his family, if applicable) in Spain.
7.- Marriage certificate, partner registration and / or birth certificate of the children in case the visa extension is simultaneously requested to said family members. In the case of dependent children and parents, an official certificate proving the dependency. These documents must be accompanied by their corresponding sworn translation
8.-Documents that certify the certified investment from the Property Registry and the property purchase deed.
In addition to Golden Visa, there are the residency options: non-profit and retirement
Residence Non-profit residence.- Allows people with a certain purchasing power to reside in Spain, generally with an economic availability of 30,000 euros per year
Retirement / retirement residence . - It is a form of non-profit residence, designed for those who are going to retire and want to reside in Spain, the requirements being very similar to non-profit residence, although with some specific characteristic.