What is a Golden Visa, or investor visa?

In Spain, law 14/2013 of 27 September 2013 on the promotion and internationalisation of entrepreneurship provides new grounds for obtaining a residence permit in Spain, one of which is to invest in the country's economy. The Golden Visa allows its holder to legally reside and work in Spain.

Pros:

• Obtaining documents at the place of residence through the consulate without leaving the country.
• Golden visa can be issued without leaving Spain, in the case of a legal presence on its territory.
• For this type of residence permit in Spain, provides a quick procedure for processing the application - 10 days for a visa, 20 days for a residence permit.
• The possibility of obtaining an investor visa, without waiting for the registration of property in the Registry. In this case, the investor visa is issued for 6 months.
• Family members (spouses and children up to 18 years of age) and in special cases adult children may apply for a visa at the same time as the principal applicant.
• The Golden Visa entitles all family members of the investor to work in Spain.
• Obtaining the first residence card for a period of 2 years.
• With an Investor Residence Permit, you do not need to stay in Spain for more than 183 days per year, you must visit Spain once during the period of validity of the residence permit.
• An investor visa to Spain, unlike other types of residence permits, allows you to remain tax resident in another country as you do not need to stay in Spain for more than six months.

Disadvantages:

• A relatively large investment is required.
• The need to maintain the amount of investment in order to renew your residence permit.
• Maintaining tax residency in another country has the disadvantage of possible problems with subsequent application for a residence permit and Spanish citizenship.

Requirements for registration of Golden Visa

The minimum investment amount is as follows:

• Government Bonds - 2.000.000 €, or
• Bank Shares and Bank Deposits - 1.000.000 €, or
• Real Estate - 500.000 €.

This type of visa also applies to investors who have prepared an investment project aimed at job creation or socio-economic investment or innovation in science and technology.

Documentation requirements for the investor and family members

• No criminal record or criminal prosecution.
• Public or private health insurance from an insurance company accredited in Spain.
• Sufficient funds for the applicant and his/her family members applying for a residence permit in Spain to cover their living expenses.

The application process

The process of obtaining a residence permit for an investor in Spain is divided into 3 stages:

1. Obtaining a D visa valid for one year at the Spanish Consulate.
2. Applying for a residence card for 2 years through Madrid (no personal presence).
3. Fingerprinting at the immigration police in the place where the property is registered and the issuing of plastic residence cards for 2 years for the investor and his family members.