For foreigners there are several ways to live legally in Spain, but without a doubt the Golden Visa or Residence by Investment is the fastest way to settle in Spain. So at Lawyers & Accountants, you'll learn everything you need to know about the Gold Visa: what it is, what benefits it offers, how to apply for it, etc.
What is the Golden Visa?
The Golden Visa Spain, also known as 'Residencia por inversion', is a permit that allows foreigners who are not residents of the European Union to legally live and work in Spain with their family if they can prove that they have made an investment in Spain and if they meet the relevant requirements of the Spanish legal system.
After obtaining the Golden Visa Spain, a one-year residence visa and a two-year residence permit is granted, which can be renewed if the investment is maintained.
Requirements for the issuance of a Spanish residence permit (Golden Visa in Spain)
As stated in Articles 62, 63 and 64 of Spanish Law 14/2013, the following are the requirements for obtaining the Gold Visa:
- Substantial capital investment.
- Real estate investment.
- Corporate investments.
- Not residing illegally on Spanish territory.
- Must be over 18 years of age.
- No criminal record in Spain or in the countries where they have resided in the last five years.
- Not be listed as rejected in the territory of countries with which Spain has signed an agreement.
- You have private health insurance in Spain.
- You must have sufficient financial resources for the duration of your stay in Spain.
- Pay the fee for the processing of the visa or residence permit by investment.
Who can obtain a Golden Visa for Spain?
The Golden Visa for Investors can be applied for by a person who has an investment in real estate in Spain of more than 500.Has made investments in the amount of 000 euros, which is the main requirement. It should also be noted that the purchase of the property must be unencumbered, which means that the buyer cannot take out a loan or mortgage.
In addition, those who have made the following investments are also eligible for the Gold Visa:
- Assumption of public debt in the amount of two million euros.
- Acquisition of shares or stocks or bank deposits in financial institutions worth one million euros.
- Invest in a business project in Spain.
Once this is done, the investment must be accredited within a maximum of 60 days, as well as the identity number or passport, health insurance, police clearance and the rest of the above requirements.
Advantages of the Golden Visa Spain
- It allows you to be absent from Spain for a long period of time without losing your residence permit.
- It allows entry into Spain and the other 26 countries of the European Union.
- Allows the legal stay of the family members of the investor.
- Allows the acquisition of Spanish citizenship through residency.
- Includes the work permit for the investor and his family members.
- Have a longer duration than other types of residence permits. Can be renewed every two years without any problems.
How to apply for the Golden Visa?
The application for a Golden Visa must be submitted to the Spanish Consulate in the applicant's country of residence (Article 75.1 of the Spanish Law 14/2013). If you are not able to submit the application yourself, you can put it in the hands of a representative.
The procedure to obtain a gold visa is fast, and usually the gold visa is granted within about 10 working days, once the application has been made and all relevant documents have been submitted. After that, you can apply for the 2-year Spanish residence permit immediately or wait to apply until the visa expires.
At Lawyers & Accountants, we can help you apply for and obtain the Golden Visa for foreign investors. We are immigration lawyers who specialize in this area, and we can provide you with all the help and advice you need to legally settle yourself and your family in Spain.