[vc_row][vc_column][vc_column_text]Here Lecuidy gives an overview of the Golden Visa scheme that provides non-EU investors with the opportunity to obtain a residency permit for Spain.
Background to the Spanish Golden Visa Scheme
Spain implemented the Golden Visa scheme in 2013 to support entrepreneurs and internationalisation. The main aim of the Golden Visa option was to promote the Spanish Economy and to support the creation of new jobs and the entry of new talent.
In 2015, the law was modified to better tailor it to the current needs of international business, and families of investors.
For entrepreneurs and investors who qualify, It’s a good and quick route to obtaining a privileged Spanish residency and work permit.
Whom is the Spanish Golden Visa for?
The Law allows for non-EU citizens that invest either a substantial amount in Spanish debt securities, business or real estate, or bring new business, to apply for a residency permit.
What are the advantages of the Spanish Golden Visa scheme?
The awarded visa – the Spanish investor visa – has a variety of advantages.
It allows the investor to travel freely throughout Europe (Schengen) and to work in any part of Spain – while not requiring for the carrier to reside in Spain in order to retain and renew the residency permit.
After five years, it is possible to obtain permanent residency – and after ten years, the carrier is given the option to apply for Spanish citizenship.
Furthermore, the investor can apply for the same permit for his or her husband or wife, domestic partner, children and dependent ascendants, so that the whole family can reside and work in Spain. Children are welcome to the Spanish educational system.
Spanish residence visas may be issued to the immediate family, including a spouse or non-married partners.
Note that the definition of “immediate family” was modified in 2015 to include family members over the age of 18 that are dependent on the investor. This includes children over 18-years-old who are financially dependent on the holder and have not formed a family unit for themselves.
What are the requirements for a Spanish Golden Visa?
The Golden Visa can be applied for by anyone who:
- Invests at least 500.000 € in Spanish real estate
- Invests 2 million € in Spanish debts
- Invests 1 million € Spanish companies ( stocks)
- Deposits 1 million € in a Spanish bank account
- Is hired as a highly qualified professional by a company in Spain
- Plans on realising a business project considered to be of special economic interest
As mentioned, the visa is also open for entrepreneurs who create a new project that is considered of general interest because it creates new jobs, has a considerable amount of positive regional socio-economic impact, or brings with it a relevant scientific innovation and/or technology.
In the case of investment through the purchase of real estate, proof of the investment must be provided through a Property Registry certificate attesting ownership.
Or, if the ownership title is not yet registered, via a copy of the acquisition public deed and proof of filing the deed in the Registry.
Here’s a bit more on the options, with the real estate option being by far the most popular.
Are there other requirements for a Spanish Golden Visa beyond investments?
Besides the special requirement of the investment, job position or business project, the applicant must meet a variety of basic conditions:
The main additional requirements are:
- being at least 18-years-old
- having public or private health insurance by an insurance company authorised to operate in Spain
- disposing of sufficient economic means to cover personal and family living expenses
- not having been refused entry in any of the Schengen countries,
- not having a criminal record in Spain nor the place of residence of the last 5 years
- not have entered or stayed illegally in Spanish territory.
Can Lexidy help me get a Golden Visa?
Should you be interested in learning more about this option for residency and doing business in Spain, or should you already be considering the application, we invite you to contact us – or just use the live chat to ask us a question about the golden visa now!
We are expertly equipped a to lead you through the process, while keeping you informed and providing you with the transparency indispensable when taking a step on this level.