Golden visa, the investor’s visa
The investor visa or Golden visa is a residence and work authorization granted to all non-EU citizens who wish to live and work in Spain, provided that they make a considerable economic investment.
How to apply for the investor visa?
There are different ways to apply for the investor visa or Golden visa:
- Through the purchase of real estate for a value of more than 500,000€ non-financeable. This is the minimum amount that the applicant must contribute in the case of a joint investment. That is to say, you will have to invest at least €500,000 out of your own pocket and individually.
- By holding Spanish public debt for more than two million euros.
- By investing in a business project of general interest. What is meant by general interest? This is evaluated according to the characteristics of each project, but it must meet three basic conditions:
*It must have a scientific or technological innovation component.
*It must create jobs.
*It must have a socioeconomic impact on the community in which the activity will be developed.
The business plan is essential when applying for the Golden Visa through the business project route. It defines the objectives, strategy, and resources necessary to start up the company.
Requirements to apply for the Golden Visa
- Be of legal age
- Not to be a citizen of the European Union.
- Not to have a criminal record.
- Have medical insurance with a Spanish entity and full coverage. Travel insurance is not valid, nor is it valid in the country of origin.
- Demonstrate sufficient economic means for the maintenance of both the investor and his family if the application is also made jointly.
- Proof of a minimum investment of 500,000 euros or more.
Documentation according to the processing route
- If the application for the Golden visa is made by means of the purchase or investment of real estate, it is necessary to provide the certification of domains and charges of the Registry of the Property, plus the deed of sale of the acquired assets.
- In case of making the request by means of the investment in Spanish shares or participations, it is necessary to present a declaration of the investment coming from the Registry of Investments of the Ministry of Economy, and the certificate of the financial intermediary registered in the National Commission of Stock Market.
- Certificate from the Bank of Spain or from the financial entity with which the investment is made if the request is made through investment in Spanish public debt.
- Certificate of the financial entity with which investments are made in bank deposits if you are the holder of a deposit.
How long does it take to obtain the golden visa?
Once the documentation is submitted, the administration will take 20 days to respond to the application.
If the resolution is favorable, there is a period of 30 days to apply for the visa at the Spanish consulate in the investor’s country.
Subsequently, the Foreigner’s Identity Card (TIE) is processed.
Difference between the Golden Visa and the Non-Profit Residence Permit
The one common characteristic between these two residence permits is that the applicant must demonstrate sufficient economic means for his/her stay in Spain.
However, the non-lucrative residence visa does not authorize the holder to work, but the Golden Visa does.
If you wish to apply for the investor visa or Golden visa in Spain and you want information on how to make the joint application with your family, or you have doubts about how the holder of this permit is taxed, please contact us. In Duguech&Dip we have more than ten years of experience processing residence and work permits for companies and individuals. Call us.
Since legal advice must be tailored to the specific circumstances of each case, and laws are constantly changing, nothing on this article should be used as a substitute for the advice of competent legal counsel. The content on this article is offered only as information. And does not constitute solicitation or provision of legal advice. You should always consult a suitably qualified lawyer regarding any specific legal problem or matter.
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