Golden Visa Spain

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By Marco Esteban, Lawyer in Barcelona, Spain

The Golden Visa in Spain is a residence programme stablished by the entrepreneurs law 14/2013, later modified by the law 25/2015. The main benefits offered today in 2017 for Non-EU nationals investors who make significant investments in Spain are:

  • A single authorization for living and working in Spain
  • Freedom of movement within the Schengen member states.
  • The application for residence permits and renewals extend the validity of the stay or residence status of the applicant until the procedure is terminated.
  • The spouse or person with an analogous affective relationship, children who are minors or those of legal age who, being financially dependent on the holder and the parents in their charge may apply jointly and simultaneously or successively for their residence permit for living and working as well.

Minimum investments requirements

For a capital investment to be considered as significant, one of the following criteria must be fulfilled:

  • The acquisition of real estate property in Spain with an investment value equal to or greater than 500,000 Euros per each applicant.
  • Two million Euros in Spanish public debt securities
  • One million Euros in company shares or stock of Spanish capital companies with an actual business activity,
  • One million Euros in investment funds, closed-end investment funds or venture capital funds constituted in Spain
  • One million Euros in bank deposits in Spanish financial institutions.

Conditions to apply

For residence authorizations, the applicants shall provide evidence of compliance with the following conditions as they are required to:

  • Not be in Spain in an irregular situation
  • Be over 18 years of age
  • Have no criminal record in Spain or in the countries where they have resided for the past five years, for criminal offenses defined in the relevant Spanish legislation
  • Not be subject to an alert issued for the purposes of refusing entry in the territorial space of countries with which Spain has signed an agreement in this regard
  • Have a public or private health insurance policy with an insurance company authorised to operate in Spain
  • Have sufficient financial resources for themselves and for the members of their families during their residence in Spain
  • Have paid the visa or authorization processing fee.

How long does the investor residence permit last?

Non-resident foreign nationals intending to enter Spain for the purpose of making a significant capital investment may apply for a stay visa or, where applicable, a residence visa for investors with one year validity

Those foreign investors who make a significant investment in capital may apply for an investor residence permit. The initial investor residence permit will have a length of validity of two years.

Once this time period has expired, those foreign investors wishing to reside in Spain for a longer period of time may apply for the renewal of the residence permit for successive five-year periods.

Investors Residence Permit procedure

The maximum decision-making period will be twenty days from the filing of the application in the competent body. If no decision is reached within said period, the permit will be deemed to be granted due to administrative silence.

Renewal does not require effective residence in Spain.