Golden Visa in Spain/ Residence by Investment
What is the Golden Visa in Spain?
The Golden Visa Spain or Residence by Investment in Spain allows non-EU citizens to reside and work together with their family in Spanish territory. After that they demonstrate a significant investment in Spain.
What are the benefits of the Golden Visa in Spain?
Comparing the Golden visa with other types of residences, it is clear that this is undoubtedly the best and fastest way to obtain residence and work permit in Spain.
For instance Just look at the following characteristics of the Golden visa in Spain to quickly get an idea.
- It allows to work and reside legally in Spain.
- You do not need to be a tax resident.
- It allows you to be absent from Spain for long periods without losing your residence permit.
- You certainly only need to travel to Spain once a year.
- You can apply for your Spanish residence permit and that of your spouse and children at the same time.
- It is an excellent option for those families who want to reside in Spain.
- It allows the investor’s relatives to accompany him from the beginning.
- You can obtain the Spanish nationality by residence.
- Includes work permit for the investor and their families.
- The duration is much higher than other types of residence permits.
- Allows you to reside for 2 initial years in Spain. Renewable for 5 years.
- It grants freedom of movement for 90 days out of 180 in the Schengen zone.
- It is not necessary to request it physically in Spain.
- You can assign a representative to manage the documentation.
What are the requirements to obtain the Golden Visa in Spain?
The requirements to obtain the Golden Visa in Spain are:
- Realisation of a significant capital investment (Real estate, Investment in Spanish shares or participations, Business investment)
- Not being found irregularly in Spanish territory.
- Being over 18 years.
- Have no criminal record in Spain and in the countries where you have resided for the last 5 years.
- Not appear as rejectable in the territorial space of countries with which Spain has signed an agreement.
- Private health insurance contracted with an authorized insurance company in Spain.
- Have sufficient financial resources for you and your family members during your period of residence in Spain.
- Pay the fee for processing the visa or the investment residence authorization.
What type of investment is necessary to obtain the Golden Visa?
To obtain the Golden Visa, you can choose from three very different forms of investment. In 2020, they all offer the same residence and work characteristics:
A – Real estate investment.
- The value of the real estate investment must amount to € 500,000 plus taxes.
- The purchase can be made by a natural person or through a legal person.
- The investment can include one or multiple properties and the properties can be rented.
- The applicant must prove that they have acquired ownership of the real estate by means of a certificate of ownership and charges from the Property Registry and the corresponding public deed.
- Real estate can have a single owner or several. If there are several owners, the acquisition will be acquired “undivided”, that is, it does not belong to one person but to several and that the property belongs to all, holding a share or part in the whole. With which it is possible that with a single real estate two or more people can obtain the Golden Visa, (as holders, not accompanying relatives), as long as the percentage of ownership of each is equivalent to or greater than € 500,000 more taxes.
- The investment must be free of charge or encumbrance.
B – Investment in Spanish shares or participations.
To obtain the Golden Visa in this case, the applicant must prove that they have made the investment in the minimum amount required, in a period not exceeding 1 year from the presentation of the application.
- Shares or participations of Spanish capital companies with a real business activity. € 1,000,000
- Investment funds, closed-end investment funds or venture capital funds established in Spain. € 1,000,000
- € 1,000,000 in bank deposits in Spanish financial institutions.
- € 2,000,000 in Spanish public debt securities.
C – Business investment.
In this case, no minimum amount has been established. However, compliance with at least one of the following conditions will be assessed:
- Creation of jobs.
- Investment with significant socioeconomic impact.
- Relevant contribution to scientific and / or technological innovation.
How long does the Golden Visa residence permit last?
- After being granted, you will have 2 years to legally reside in Spanish territory.
- Before the 2-year period expires, you must apply for renewal, which will allow you to be a legal resident for an additional 5 years. You can then apply for long-term residence.
- In order to carry out the renovation, you must prove that you still own the property or investment made, (once you have obtained the long-term residence, it is no longer necessary to maintain the amount of the investment).
- You must have visited Spain at least once a year.
After 10 years of legal residence in Spain, the investor can carry out the relevant procedure to opt for Spanish nationality.
How to apply for the Golden Visa in Spain?
To apply for the Golden Visa and depending on whether you are in Spain or outside the country, the procedure consists of 1 or 2 different steps:
- Visa application.
- Request for authorisation.
- If you are not in Spain, you must obtain your application for an investor residence visa beforehand at the Spanish Consulate or Embassy where you legally reside. So consequently a 1-year investor visa will be issued. In the course of this year, you must enter Spain and apply for a 2-year residence permit.
- If you are legally in Spain or have an investor visa, an investor residence permit will be requested at the “Large Companies and Strategic Groups Unit (UGE-CE)”.
How long does the UGE-CE have to decide?
According to law, the maximum period of resolution will be 20 days, from the electronic presentation of the application in the competent office for its processing.
In other words, it is understood that if the request is not resolved within said period, the authorization will be deemed “estimated” by administrative silence.
In short, if your request is not decided on time, by law it will be granted.
What to do if the request is denied?
First of all, don’t panic. If the UGE-CE denies your request, this doesn’t mean that you can’t do anything about it. The first step will be to file an appeal to the General Secretariat for Immigration and Emigration within the month following notification of said decision.
If this is not enough, we will file a contentious-administrative appeal addressed to the Madrid Court within 2 months of notification of said decision.
What do we do for you, as Golden Visa experts?
As specialists in the field, we offer you fully personalized legal, tax and real estate services.
Prevention is better than cure. Don’t risk wasting the opportunity to get the Golden Visa to settle in Spain with your family. Contact us and get the Golden Visa without any problems from beginning to end. We only need your authorization.
At Global Gest we will assist you with:
- Personalised advice during the entire procedure.
- Acquisition of a property. For this purpose we have formed alliances and created our own real estate section with a wide range of homes and properties.
- Obtaining an insurance policy that meets all the required requirements.
- Creation of a bank account. For this we have a wide network of banking contacts.
- Completion of all the corresponding forms.
- Review of the documentation that must be presented at the Consulate, the Embassy or the UGE-CE.
- Preparation of the interview, which you will have before the diplomatic mission or consular office. This preparation is very important to avoid refusals, derived from misunderstandings.
- Eventual enrollment of their children to continue the school year.
- Accompaniment and transportation to carry out each of the necessary procedures.
GET YOUR GOLDEN VISA
Do not hesitate to contact us for any extension of this information. We will be delighted, without any obligation on your part, to personally offer you a more detailed explanation of our services. There are already hundreds of people who have trusted us and have obtained the Golden Visa in Spain through our services.