How to obtain the Golden Visa in Spain
How to obtain a Golden Visa in Spain
The Spanish Golden Visa or Golden Visa (Residence for Investment in Spain) is a programme, like others, which allows non-EU foreigners and their families to reside and work in Spain. However, the Golden Visa requires proof of an investment in Spain.
This is how through this programme you can obtain the Golden Visa in Spain, but let’s take a look at the details.
Although there are several ways to obtain residency in Spain, getting the Golden Visa is easy and quick if you know how.
That is why if you want to know how to obtain the Spanish Golden Visa in Spain, or the Golden Visa in Spain, you should take into account the benefits, the requirements and the process of this program, so, first of all, let’s see how the requirements are.
What do you need to obtain a Golden Visa in Spain?
In order to be able to successfully apply for the Golden Visa, the applicant must meet the following requirements:
- Significant capital investment in Spain (real estate, Shares or social participations, investment in closed-end investment funds or venture capital).
- Not to be irregularly present in Spanish territory.
- Be over 18 years of age.
- Have no criminal record in Spain or in the countries where you have resided for the last 5 years.
- Not to be listed as rejectable in the territorial space of countries with which Spain has signed an agreement.
- Private health insurance contracted with an authorised insurance company in Spain.
- Have sufficient financial resources for yourself and your family members during your period of residence in Spain.
- Pay the fee for processing the visa or the residence permit for investment.
How to obtain the Golden Visa in Spain?
To apply for the Golden Visa and depending on whether you are in Spain or abroad, the procedure consists of 1 or 2 different steps:
- Visa application
- Application for authorisation
Let’s look more closely at it
If you are outside Spain, you must obtain your application for an investor residence visa beforehand from the Spanish Consulate or Embassy where you are legally resident.
In this case, 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 hold an investor visa: you will apply for an investor residence permit at the Large Companies and Strategic Collectives Unit (UGE-CE).
Application for a residence permit:
The authorisation of residence for investment in Spain is requested from the Large Companies and Strategic Collectives Unit (UGE-CE) and is granted by the Directorate General for Migration.
What are the benefits of the Golden Visa in Spain?
- It allows you 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 only need to travel to Spain once a year.
- You can apply for your residence permit in Spain and that of your spouse and children at the same time.
- It is an excellent option for families who want to live in Spain.
- It allows the investor’s family members to accompany the investor from the very beginning.
- You can obtain Spanish nationality by residence.
- Includes work permit for the investor and his family members.
- The duration is much longer than other types of residence permits.
- Allows residence for an initial 2 years in Spain.
- It is renewable for 5 years.
- It grants freedom of movement for 90 out of 180 days in the Schengen area..
- There is no need to apply in person in Spain.
- You can assign a representative to handle the documentation.
What kind of investment do I need to make to obtain the Golden Visa in Spain?
The Golden Visa requires an investment in Spain.
The programme offers three types of investment, the most attractive of which is the purchase of real estate of at least 500,000 euros.
It is also possible to obtain the Golden Visa by making an investment in a Spanish company or financial products.
Next, let’s take a look at each of the types of investment that exist for the Golden Visa:
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 entity.
- The investment may include the purchase of one or multiple properties and the properties may be rented out.
- The applicant must prove that he/she has acquired ownership of the real estate by means of a certificate of ownership and encumbrances from the Land Registry and the corresponding public deed.
Immovable property may have a single owner or several owners.
If there are several owners, the acquisition is acquired “pro indiviso”, i.e. it does not belong to one person but to several, and the property belongs to all of them, holding a share or part in the whole.
It is therefore possible that with a single property, two or more people can obtain the Golden Visa (as owners, not as accompanying family members). As long as the percentage of ownership of each one is equivalent to or greater than €500,000 plus taxes.
The investment must be free of charges or obligations.
It is important that the property or the sum of them (if there are several) has a value of at least 500 thousand euros plus taxes, but in addition, this amount must be free of any liens or encumbrances.
B – Investment in closed-end investment funds or venture capital shares or social participations
In order to obtain the Golden Visa, in this case, the applicant must prove that the investment has been made in the minimum amount required and within a period of no more than 1 year from the submission of the application.
These are the options:
- Shares or participations in Spanish capital companies with a real business activity with a value of €1,000,000 or more
- Closed-end investment funds or venture capital funds incorporated in Spain, with a value of €1,000,000 or more.
- Bank deposits in Spanish financial institutions with a value of €1,000,000 or more.
- Spanish public debt securities with a value of €2,000,000 or more.
C – Business investment.
No minimum amount has been established in this case. However, compliance with at least one of the following conditions will be assessed:
- Job creation.
- Realisation of an investment with a significant socio-economic impact.
- Relevant contribution to scientific and/or technological innovation.
What is the duration of the Golden Visa residence permit?
- After being granted, you will have 2 years to reside legally in Spanish territory.
- Before the 2-year period expires, you must apply for renewal. You will then be allowed to be a legal resident for an additional 5 years. You can then apply for long-term residence.
Before the 2-year period expires, you must apply for renewal. You will then be allowed to be a legal resident for an additional 5 years. You can then apply for long-term residence.
In addition, 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 apply for Spanish nationality.
What is the deadline for the CGU-EC to decide?
According to the law, the maximum period for a decision will be 20 days from the electronic submission of the application to the body responsible for processing it.
It is therefore understood that if the application is not resolved within this period, the authorisation will be considered to have been granted by administrative silence.
In short, if your application is not decided in time, by law it will be granted.
What should I do if I am refused a Golden Visa residence permit?
First of all, do not panic. If the EC-ECU refuses your application, this does not mean that you cannot do anything about it.
The first step is to lodge an appeal to the General Secretariat for Immigration and Emigration within one month of notification of the decision.
If this is not enough.
we will lodge a contentious administrative appeal before the Court of Madrid within 2 months of the notification of this decision.
We are experts on how to obtain the Golden Visa in Spain
As the authorities are usually strict about the granting of the Golden Visa in Spain, it is better to be cautious. Let us inform you exactly how to obtain residence by investment in Spain.
As specialists in the field we offer you:
Fully personalised legal, tax and real estate advice.
Don’t miss the opportunity to get the Golden Visa to settle in Spain with your family.
Contact us and find out how to obtain the Golden Visa in Spain without any inconvenience from start to finish.
We manage the whole process. We only need your authorisation.
We will assist you with:
- Personalised advice throughout the 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 a fully compliant insurance policy.
- Setting up a bank account. We have a wide network of banking contacts for this purpose.
- Completion of the relevant forms.
- Review of the documentation to be submitted to the Consulate, Embassy or UGE-CE.
- Preparation for the interview, which you will have with the diplomatic mission or consular post. This preparation is of utmost importance to avoid refusals due to misunderstandings.
- Enrolment of your children to continue the school year.
How to obtain a Golden Visa in Spain quickly?
Well, the simplest and quickest way is the Golden Visa programme:
Invest €500,000 in one or more properties and you can enjoy your residence permit.
This allows you and your family to move within the Schengen Area. Without the need to reside in Spain.
Get Spanish residency easily by investing in Spain.
We advise you on the whole process of how to obtain a golden visa in Spain.
Fully personalised legal, tax and real estate advice.
Please contact us for any further information. We will be happy to provide you with a detailed explanation of our services in person, without any obligation on your part.
There are already many people who have trusted us to know how to obtain the residence by investment in Spain or the Golden Visa, be one more and join those who have obtained the Golden Visa in Spain through us.