1. What is the Golden Visa in Spain?
It is a new type of residence visa in Spain, which is regulated by Law 14/2013, of 27 September, on support for entrepreneurs and their internationalization. Allows access to temporary residence in Spain for those who invest in property or make significant investments in Spanish territory.
2.For whom is the Golden Visa in Spain intended?
The Golden Visa is aimed at non-EU citizens who wish to obtain a residence permit in Spain.
It does not apply to EU citizens as they enjoy the right of free movement and residence within the EU.
3.How long do I have the right of residence in Spain?
Initially, if all legal requirements are met, a residence visa for investors can be obtained for a period of 1 year and then a residence permit for a period of 2 years.
Once this period has expired, investors who are interested in residing in Spain for a longer period of time may request the renewal of the authorisation for successive periods of 5 years, provided that the investment is maintained during this period and the other requirements of the Law continue to be met.
4. Do I have to stay in Spain for a certain period of time?
The residence permit allows you to reside and work in Spain and is valid throughout the country.
Obtaining a residence permit does not require effective residence in Spain, which is understood to be greater than 183 days. A visit to Spain is only required once during the period of residence.
5. Does the right of residence extend to my family members?
Yes, the person who obtains a residence permit may extend this right to his or her immediate family members, i.e. the spouse or unmarried partner, minor children or children of full age and relatives in the ascending line who are economically dependent on the person applying for the visa.
6. What is the minimum investment in real estate that I must make to obtain the Golden Visa?
The value of the investment to be made must be equal to or greater than €500,000 for each applicant in the case of real estate.
7. Should I invest in a home or can I invest in other types of property?
The Law provides that the investment may be made in real estate in general, so the investment may also be made in real estate that is not intended for housing, such as commercial premises or an office.
8.Can I make the investment jointly with another person?
Yes, the law allows the investment to be made through the acquisition of a co-owned property. However, the minimum investment to be made by each person wishing to obtain the residence permit is €500,000.
9.If I buy the property in Spain with my spouse and we are in community property or similar who is considered to have made the investment?
If the investment is less than €500,000 for each spouse, only one of the spouses will be considered to have made the investment for the purpose of obtaining the visa. However, the other spouse may obtain a residence visa on the grounds that he or she is an immediate family member.
10. Can I acquire the property by means of a mortgage loan?
One of the requirements established by the Law for obtaining a residence permit is that the investment of €500,000 must be free of charges and encumbrances. However, a mortgage or other encumbrance may be constituted for the part of the price that exceeds €500,000.
11.Can I apply for a visa if I have not yet purchased property in Spain?
Yes, but in this case it must be proved that a deposit contract or similar contract has been signed to guarantee the fulfillment of the purchase of the property and that the necessary amount is available for the purchase, including taxes and charges. In this case, the residence permit will be valid for 6 months until the purchase of the property is accredited.
12. Is it possible to make the investment through a company?
Indeed, the Law admits that the investment is made through a legal entity domiciled in a territory that is not considered a tax haven.
In this case, the person who intends to obtain the residence permit must have a majority of the voting rights and the power to appoint or dismiss the majority of the members of the administrative body.
13.Are there other requirements to obtain a visa?
Yes, all the general requirements contained in Law 14/2013 must be met, and in particular:
- Not be irregularly present on Spanish territory.
- Be over 18 years of age.
- Have no criminal record in Spain and in the countries where they have resided during the last five years, for crimes provided for in the Spanish legal system.
- Not appear as a refusal in the territorial space of countries with which Spain has signed an agreement to this effect.
- To have a public or private health insurance policy with an insurance company authorised to operate in Spain.
- To have sufficient economic resources for themselves and their family members during their period of residence in Spain.
- Pay the fee for processing the authorisation or visa.
14. What procedures do I have to follow to obtain a visa?
Visas are processed through the Spanish diplomatic missions and consular posts in the countries of origin.
It is advisable to have the advice of a lawyer specializing in immigration law before starting any procedure, who will inform you of all the details of the law and the procedure to be followed.
We also recommend that you visit the website of the Ministry of Foreign Affairs of the Government of Spain to find out more about the procedure.
15. Is the Golden Visa compatible with another residence permit of the Immigration general regime?
If someone who holds a Golden Visa obtains any other residence permit from the Immigration general regime, he will not be able to request the renewal of his Golden Visa, since it would have been extinguished.
16. ¿Can Swiss citizens apply for a Golden Visa for Spain?
Although Switzerland is not part of the European Union, because of its special relationship with it, the Community Regime is applied to its citizens, and they will have to apply for the EU Certificate in order to obtain a residence permit for Spain, as they enjoy the right of free movement and residence within the EU.