How to reside in Spain through an investment
Golden Visa residence in Spain is a residence visa for investors. It was created by Law 14/2013 on support for entrepreneurs and their internationalisation, and its purpose is to attract non-EU foreign investors to Spain.
This visa offers legal residence in Spain for a period of 6 months to 2 years depending on the type of investment to be carried out in the country. There is no limit to the investment.
Golden Visa
The Golden Visa is a visa that allows foreign investors to reside legally in Spain and has fewer requirements than, for example, the non-lucrative visa. The only one that is actually valued is, in fact, that of making a significant capital investment in Spain.
Characteristics
It is valid for working and residing in the entire Spanish territory.
It includes family members: spouse or common-law partner, minor or economically dependent children of the holder, dependent ascendants.
It can be requested by the investor or a representative. The investment can be made through a legal entity, but it must meet certain requirements.
The deadlines are not long and it is handled fairly quickly. The visa is granted in 10 days and the residence and work permit in 20 days.
It allows movement through the 26 European countries of the Schengen area.
Validity
The validity of the visa and residence permit for non-EU foreigners depends on the investment to be made.
Real estate assets with earnest money contract: 6 months. It is also necessary to prove that you have the money to formalise the purchase of the property. The investor visa is for 1 year.
Initial investor authorisation is 2 years.
Renewal of the investor authorisation is 5 years. And it will not require effective residence for renewal.
Who can apply for the Golden Visa
This visa is aimed exclusively at non-EU foreign investors who invest significant amounts of money in the development of the country or in the purchase of real estate.
The investment can be in financial assets, real estate or business projects.
If the investment is made through a company, the applicant must be the owner of the majority of the share capital (Article 63.3 of Law 14/2013).
In addition, it is important to add the Directorate General for International Trade and Investment (DGCOMINVER) of the Ministry of Industry, Trade and Tourism. A report designed to accredit that the company is not domiciled in a tax haven. This report must certify that the company is domiciled in a tax haven.
Investment in financial assets
Payment of the country’s public debt up to 2 million euros or shares or stocks in Spanish capital companies for 1 million euros.
Closed-end investment funds or venture capital funds incorporated in Spain, for a value of 1 million euros.
Bank deposits in Spanish financial institutions also up to 1 million euros.
Investments in real estate
Property or properties worth more than 500,000 euros, provided that it or they have not been acquired by means of a mortgage or loan, and that it or they serve as the investor’s habitual residence.
Investments in business projects in Spain
No minimum amount. The value will be calculated by its impact based on:
Job creation.
The socio-economic impact on the region.
Relevant contributions to scientific and/or technological innovation.
Accreditation of the investment
In addition, the applicant must prove that the investment has been made. By presenting the necessary documentation in an irrefutable manner.
Public debt: certificate from the financial institution or the Bank of Spain.
Unlisted shares. Proof of registration of the investment in the Foreign Investment Register of the Directorate General for International Trade and Investment.
Listed shares. Certificate of financial intermediary registered with the National Securities Market Commission or the Bank of Spain.
Investment funds: certificates from the management entity.
Bank deposits: certificate from the financial institution.
Real estate: proof of registration in the Land Registry and title deed. Deposit contract, if applicable, and public deed. The certificate must not be older than 90 days.
Business project: favourable report from the Directorate General for International Trade and Investment.
These are the most important characteristics for the processing and connection of the so-called Golden Visa or Residence Visa for Investment.
You May Also Enjoy
How to Become an Estate Agent with No Experience
9 Advantages of Selling Your House by Auction
Majority of Tenants Unsure How Changes Will Affect Them, Says LRG
Perfume Storage Tips: How to Keep Your Fragrances Fresh
Renters’ Rights Bill Delay Causing Uncertainty for Tenants and Landlords
