What is the Golden Visa?
Do you know how to get a Golden visa in Spain? The Golden Visa is a type of permit that enables foreigners who make an investment in Spain to obtain residence for themselves and their family members -spouses and minor children-, without the investors being obliged to remain in Spain for a certain period of time. It would be also possible to renew the residence while maintaining the investment.
Advantages of the Golden Visa
The Golden Visa is the best visa that a foreigner can receive in Spain due to the beneficial advantages that we will detail below:
- Allows you to be absent from Spain for long periods of time, and also allows you to leave and enter Europe as many times as you want
- Allows family members of the investor to simultaneously benefit from this form of residence
- Allows the accompaniment of children over 18 years of age, as long as they are economically dependent on the family member and have not formed their own family unit. The applicant’s parents can also benefit from obtaining Spanish residency, even if they are under 65 years of age
- Includes the work permit for both the investor himself and his family members
Investment options to obtain the Golden Visa
Residence visa for property acquisition in Spain
This visa is intended for those foreigners who prove the acquisition of real estate in Spain with an investment of a value equal to or greater than €500,000. The applicant must prove that the investment is free of all charges or encumbrances. The part of the investment that exceeds the required amount may be subject to charge or encumbrance
Residence visa for capital investors
This visa is intended for capital investors with an initial investment for a value equal to or greater than €2,000,000 in Spanish public debt securities, or for a value equal to or greater than €1,000,000 in shares or social participations of companies of Spanish capital companies with a real business activity, in investment funds, closed-end investment funds or venture capital funds, or in bank deposits in Spanish financial entities
Residence visa for investors with a business project and for entrepreneurs
This visa is intended both for investors who present a business project that is going to be developed in Spain and that is considered and accredited as of general interest, as well as for those who plan to enter and remain in Spain for a period of one year in order to sole or principal authority to carry out the previous procedures to be able to develop an entrepreneurial activity.
Even though there are different options to apply for the Golden Visa, it is worth mentioning that, in most cases, investors choose to invest in a property in Spain whose value must be equal to or greater than €500,000. It is also possible if the investment consists of more than one property as long as the amount is equal to or greater than €500,000.
Necessary documentation in the event of purchase of property/s:
- Bank account in Spain to buy the property/properties (minimum investment of 500,000 euros free of liens and encumbrances, that is, without a mortgage).
- NIE to process at the Consulate of the country of residence.
- Photocopy of the complete passport
- Purchase of the property/s.
Our DiG specialist lawyers can intervene/advise in the location and purchase of the property, providing investors with the appropriate legal advice in managing the legal aspects of the purchase.
Specifically, our services would include the following:
- Advice on buying real estate.
- Review and analysis of the legal and mandatory documents for the purchase in order to verify the title of ownership of the assets to be acquired by the investors and the existence, where appropriate, of registered encumbrances and encumbrances.
- Drafting and monitoring of powers to be granted abroad, if necessary.
- Assistance with the granting of powers before a Spanish notary, if necessary.
- Assistance in relation to the execution of private contracts, such as reservation contract and deposit contract.
- Assistance in the execution of the public deed of sale before a Public Spanish Notary.
- Assistance, preparation and settlement of the taxes corresponding to the operation (VAT or Property Transfer Tax, as appropriate).
- Assistance for the registration of the public deed in the corresponding Property Registry.
- Visa application.
- Domain certificate and loads.
- Health insurance policy (public or private).
- Bank certificate of the existence of sufficient economic funds to live in Spain without working for 1 or 2 years, both for the investor and for the family members included in the Golden Visa.
- Certificate of criminal record of the last 5 years that the investor must request in his country of residence.
- Marriage certificate or stable couple registration and birth certificate of children if they want to be included in the Golden Visa.
- When it is also requested for the family group, the same requirements must be presented for each one of them.
- All foreign documents must be sworn translated and duly apostilled.
Duration of the Golden Visa
The first concession of the Golden Visa lasts for three years. Once the authorization expires, you will have to request a renewal that will last for five years.
Sobre el autor:
Abogada China Desk