Golden visa Spain
Information about Golden visa Spain
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- 🏆 What is a Golden Visa in Spain?
- 🏆 Who has to apply for the visa or residence permit?
- 🏆 Can family members benefit from the main applicant investment?
- 🏆 How long does the permit last of the golden visa in Spain?
- 🏆 How can I obtain my Golden Visa /Investor Visa?
- 🏆 What documents do I need to submit with the application?
- 🏆 What is the difference between Golden and Entrepreneur visas and residence authorisations?
- 🏆 Can I acquire several properties in order to get the Golden Visa?
- 🏆 How long does the Golden Visa last?
- 🏆 Which are benefits of the golden Visa?
- 🏆 Should I buy the property by cash or could I use financing?
- 🏆 In which language should the documents be submitted?
- 🏆 If I apply for an Investor visa/Golden Visa, do I have to stay in Spain for a certain period of time?
- 🏆 Who can benefit from the Investor visa/Golden Visa of the main applicant?
- 🏆 Can I obtain the Spanish Citizenship by Investment?
- 🏆 How do I have to prove financial means?
- 🏆 What is the amount considered sufficient to prove sufficient economic resources?
Do you want to move to Spain and acquire the residency without a certain mandatory period of stay in our country? The Golden Visa/ Investor Visa is for you.
What is a Golden Visa in Spain?
This permit allows you and including your relatives if they meet the expected age labor regulations to live and work legally in Spain (and also bringing your family), without the need to visit the country more than once a year. In addition, this visa also allows you to move freely you within the Schengen Area and if you come to Spain, we can apply for on your name and behalf directly electronically to your Residency Permit and you get while you are in Spain.
This type of permit is foreseen for all the citizens from outside the European Union and who want to move and live in the Spanish territory and realizes a significant investment in Spain.
The law that regulates the Golden Visa is “Act 14/2013, of 27 September, of support to entrepreneurs and their internationalization.
Who has to apply for the visa or residence permit?
The investor or his/her legal representative must apply for the visa or residence permit via the application form.
It is important to distinguish WHERE you are at the date of application in order to know if you will apply for your Investor Visa or on the contrary for you Residence Permit:
- AN INVESTOR VISA, if you are outside of Spain when the application is submitted. Visa applications must be made at the Spanish Consulate in the country of origin or residence. Residence permit applications must be made at the Large Business and Strategic Groups Unit (Unidad de Grandes Empresas y Colectivos Estratégicos (UGE-CE)).
- A RESIDENCE PERMIT, if you are currently in Spain when submitting the application. Residence permit applications must be made at the Large Business and Strategic Groups Unit (“Unidad de Grandes Empresas y Colectivos Estratégicos” (UGE-CE) and we can submit all the documents and application on your name and behalf electronically.
Can family members benefit from the main applicant investment?
Yes, they can also apply for a golden visa if they are any of the following relationships
- The spouse or unmarried couple (“civil partner”)
- Children who are minors or those of legal age being financially dependent on the holder.
- Parents in their charge.
How long does the permit last of the golden visa in Spain?
As you will see, the difference between submitting the Golden Visa/ Investor Visa in Spain or outside Spain affects the deadline for the granting of the visa or residence permit:
- INVESTOR VISA: 1 year.
- RESIDENCE PERMIT: 2 years
- RENEWAL of the residence permit: 5 years and the renewal does not require effective residence in Spain
How can I obtain my Golden Visa /Investor Visa?
According to the law Act 14/2013, of 27 September, of support to entrepreneurs and their internationalization” for a capital investment to be considered as significant, one of the following criteria must be fulfil:
- Two million Euros in Spanish public debt securities.
- One million Euros in company shares or stock of Spanish capital companies with an actual business activity.
- One million Euros in investment funds, closed-end investment funds or venture capital funds constituted in Spain, included within the scope of application of Act 35/2003, of 4 November, on Collective Investment Institutions, or of Act 22/2014, of 12 November, regulating venture capital entities, other closed-end collective investment entities and the management companies of closed-end collective investment entities, which amends Act 35/2003, of 4 November.
- One million Euros in bank deposits in Spanish financial institutions.
- The acquisition of real estate property in Spain with an investment value equal to or greater than 500. 000 Euros ( FREE OF ANY LIENS OR ENCUMBRANCES).
- A business project intended to be carried out in Spain that is deemed and proved to be of general interest, being necessary to be considered as such the fulfilment of at least one of the following conditions:
- The creation of jobs.
- Making an investment with relevant socio-economic impact in the geographic area where the activity will be carried out.
- A relevant contribution to scientific and/or technological innovation.
The residence visa for investors may be obtained by a representative, appointed by the investor and duly accredited, for the management of a project of general interest provided that the project fulfils any of the conditions listed in letter c).
- It shall also be understood that a foreign national applying for a visa has made a significant capital investment when the investment is carried out by a legal person established in a territory which is not considered a tax haven under Spanish law and on which the foreign national directly or indirectly holds the majority of the voting rights and has the power to appoint or dismiss the majority of the board of directors.
What documents do I need to submit with the application?
- The application form duly filled-in and signed.
- Copy of the complete passport in force, and, if applicable, that of the applicant’s relatives.
- Proof of sufficient economic resources for the applicant and his family members during their period of residence in Spain, which may be justified. Normally monthly 400% of the IPREM ( for 2021 the IPREM is €564,90 so that around € 2.260 monthly) Furthermore, for the main applicant must prove at least 4oo% of the IPREM for the 2 years (around €55.000) and for the support of each of the family members in charge, monthly, 200% of the IPREM, which in 2021 amounts to €564,90 € (around €28.000 per family member)
**The documents must be translated into Spanish.
- Documents proof of the investment. It depends on the kind of investment
- Unlisted shares or participation units: a copy of the declaration of investment made before the Registry of Foreign Investments at the Ministry of Economy and Competitiveness.
- Listed shares: certificate issued by the financial intermediary registered with the National Securities Market Commission or with the Bank of Spain, in which the investment is recorded.
- Public debt: certificate issued by the financial institution or the Bank of Spain showing that the applicant is the sole holder of the investment for a period equal to or greater than 5 years.
- Investment funds or venture capital funds: certificate issued by the management company, incorporated in Spain, duly registered with the National Securities Market Commission, showing that an investment was made for an amount of at least one million euros in one or more funds under its management.
- Bank deposits: certificate issued by the financial institution in which it is attested that the applicant is the sole holder of the bank deposit
- Acquisition of Real Estate: certification of domain and encumbrances from the Land Registry corresponding to the real estate property or properties dated earlier than 90 days prior to the date of application and real estate purchase deeds.
- Business project: a favourable report from the DGCOMINVER.
- Proof of legal residence in Spain at the time of application (e.g. a notarial deed before the Spanish notary or stamp of the entry in Spain in your passport))
- Have a public or private health insurance with an insurer company authorized to operate in Spain. Taking into account that the insurance policy does not contain any co-payments and it offers full coverage within the whole Spanish territory.
- Have no criminal record in Spain or in the countries where they have resided for the past five years, for criminal offenses defined in the relevant Spanish legislation.
The certificate must be duly legalised and translated into Spanish by sworn translator.
- Proof of payment of the fee.
- Signature of the document designating the legal representative for the submission of all documents and the application form
- In the case of the FAMILY MEMBERS:
- The application form duly filled-in and signed by the familiar (in case of minor, must be signed by its legal representative).
- Copy of the complete passport in force.
- Have a public or private health insurance with an insurer company authorized to operate in Spain
- Criminal records of the family members must be duly apostilled and translated into Spanish by sworn translator.
- Marriage certificate must be duly apostilled and translated into Spanish by sworn translator.
- Birth Certificate (Children who are minors) must be duly apostilled and translated into Spanish by sworn translator.
- For children over 18 years of age, any document proving economic dependence (payment of university fees, living at home, etc.)
- Proof of payment of the fee (as a minor , the legal representative must pay it)
Golden Visa Spain Questions
What is the difference between Golden and Entrepreneur visas and residence authorisations?
The Visas (both investor/Golden and Entrepreneur visas are applied for at the Spanish consulate of the applicant’s country of residence and are granted for one year).
However, if you are legally in Spain at the time of application, you can apply directly online to the “Unidad de Grandes Empresas (UGE) “ (competent authority) for your initial residence authorisation, which is granted for two years instead of one year.
Can I acquire several properties in order to get the Golden Visa?
The main point is that the total investment is worth €500.000 or more, so you can buy several properties/assets (parking, commercial premises) whose total value is €500.000 or more.
How long does the Golden Visa last?
- If you are outside of Spain when the application is submitted., the Investor Visa is for 1 YEAR
- If you are currently in Spain when submitting the application, the RESIDENCE PERMIT is for 2 YEARS.
Which are benefits of the golden Visa?
The Golden Visa offers these advantages over other types of visas:
- Get easy the Spanish Residency.
- Do not need to stay a certain period of time per year in Spain.
- Free movement in the Schengen Area
- You can bring your family with you
- You can work and reside legally in Spain.
- Is a pathway to citizenship is you comply with some requirements
Should I buy the property by cash or could I use financing?
No, you must invest €500.000 by cash with your own funds. However, for the part exceeding €500,000 you can use a loan/mortgage.
In which language should the documents be submitted?
All the documents must be translated into Spanish. In addition, the official documents (such marriage certificate, birth certificate, criminal records) must be duly legalised.
If I apply for an Investor visa/Golden Visa, do I have to stay in Spain for a certain period of time?
No, this permit does not require a minimum stay of 6 months for renewal.
Who can benefit from the Investor visa/Golden Visa of the main applicant?
The spouse or civil partner, minors under 18 years of age, children over 18 years of age who are economically dependent of the main applicant and dependent ascendants of the main applicant.
Can I obtain the Spanish Citizenship by Investment?
Yes, the Investor Visa is a way to get afterward the Spanish citizenship, as long as you live in Spain for the period required by the law.
Spanish law requires the person to have resided in Spain for ten years legally, continuously and immediately prior to the petition. However, there are cases in which the required period of residence is reduced:
- Five years: for granting of Spanish nationality to those who have obtained refugee status.
- Two years: for nationals of Latin American countries, Andorra, the Philippines, Equatorial Guinea, Portugal or persons of Sephardic origin.
However, we must not lose sight of the fact that although the Investor Visa /Golden Visa does not require a continuous stay, if you subsequently wish to obtain Spanish Citizenship, and obtain a Spanish passport , you must live in Spain for at least 6 months out of the year for the required time (10 years, 5 years or 2 years). Besides, you should comply with all the requirements in order to get the Spanish citizenship, among other, knowing the Spanish language.
How do I have to prove financial means?
Bank certificate with updated balance of your account and bank statements. All the documents must be translated into Spanish.
What is the amount considered sufficient to prove sufficient economic resources?
- For the support of the main applicant (investor), 400 % of the IPREM which in 2021, the IPREM amounts to €564, 90, being 2.259,6 € per month. Furthermore, for the 2 years, the main applicant must prove %400 IPREM (around €55.000)
- For the support of each family member, monthly, 200% of the IPREM, which in 2021 amounts to €564, 90 €. Furthermore, for 2 years, around € 28.ooo per family member.