SPANISH GOLDEN VISA OR RESIDENCE PERMIT FOR ENTREPRENEURS?

[vc_row][vc_column][vc_column_text]Are you an entrepreneur, considering residency or forming a business in Spain, and wondering about the differences between the Spanish Golden Visa scheme and the Residence Permit for a business activity scheme?

Lecuidy breaks it down for you. Here are some frequently asked questions, and answers:

What are the main differences in the requirements for the application process for a Spanish Golden Visa?

The main difference in the requirements for the two residences (or visa) options, is that to apply for a Spanish Golden Visa with a business that is accredited as being of ‘general interest’, the applicant’s business project needs to be developed in Spain

This needs to be the case if the business is deemed to be of general interest because of:

Creation of new jobs
Investment of socioeconomic impact in the area the activity is to be developed
Relevant contribution to science and/or technology.

What are the advantages of the Spanish Golden Visa to an Entrepreneur?

Those who have successfully obtained Golden Visas can also have residency granted to spouses, unmarried partners, ancestors and any dependent children (regardless of the age).

Proof of affiliation and/or dependency has to be provided.

Which option offers an easier path to authorization?

The Golden Visa application offers an easier path to authorization than the Residence Permit because the application will be resolved within 20 days.

The initial authorization is valid for two years and is renewable for a period of five years. The Golden Visa authorization is also valid in any national territory of Spain.

On the other hand, the authorization for a Residence Permit takes up to three months and is valid for only one year. It is also only valid for one Autonomous Community, and for a specific area of business, and for the duration of one year.

So, briefly, 3 months Vs. 20 days and the whole of Spain Vs. part of Spain.

Why does Spain offer an incentive Entrepreneur applicants throughout the whole process of the application?

Spain offers significantly better incentives for Golden Visa applicants because the country values the creation of jobs, innovation and investment opportunities – and those who add value to the Spanish economy.