A Golden Visa is a new type of residence visa, established by Law 14/2013 of the 27th September 2013, aimed for non-EU residents who wish to enter Spanish territory in order to carry out a significant capital investment.
What type of permit or visa is applicable?
A Residence visa for one-year.
Two-year residence permit that can be renewed:
If the investment is maintained, and If you have made at least one visit to Spain during the residence period.
Who can apply?
Investors who make a significant investment in Spain:
Real Estate assets (€500,000). The investor could buy one or more properties as long as the total value is 500,000 euros or more.
Shares or bank deposits (€1 million)
Public debt (€2 million)
Business projects in Spain considered being of general interest.
What are the requirements and what documents are needed?
General Documents:
Identity document or Passport.
Public or private health insurance taken out with a company operating in Spain.
Criminal record certificate (for the last five year).
Proof of sufficient funds to support the applicant and members of his/her family during residence in Spain.
Specific Documents:
Documents providing proof of the investment
What other benefits are there?
The residence permit allows its holder to live and work anywhere in Spain.
The awarding of this residence permit does not require actual residence in Spain, which is considered to be that over 183 days. The only requirement is to visit Spain once during the period of residence.
Combined processing of permits for couples and their children.
FREQUENT QUESTIONS
Once I have obtained the visa – authorisation according to Law 14/2013,How long can I stay in a country of the Schengen area?
A foreign citizen resident in Spain has the right to move freely throughout the territory of a State of the Schengen area for a period not exceeding three months per semester.
Currently the countries of the Schengen area are: Austria, Belgium, Denmark, Spain, Estonia, Finland, France, Greece, Holland, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Norway, Poland, Portugal, Czech Republic, Slovak Republic, Sweden and Switzerland.
The documentation required to move between states are the valid travel document (passport or other) and the residence permit. You should also make a declaration of entry upon arrival in the corresponding states.
Can family members work with your residence permit?
The Law 14/2013 states that the residence permit allows you to live and work (both self-employed and employed) within Spain.
What is meant by public or private insurance?
During the residence period in Spain the foreigner must be covered with public health or private insurance.
There must be a public or private health insurance made with an insurer authorised to operate in Spain.
The duration of the authorisation should be the period of the authorisation or at least one year renewable (they are invalid travel insurance).
How can I demonstrate the financial means?
The law does not require a monetary amount or a specific documentation. So you can prove that the economic resource by any means permitted by law. For example, with payslips, bank statements, deposits, etc.
Is it necessary to submit the documentation translated and legalised?
All documents must be translated into Spanish.
In case of foreign public documents these must also have the Apostille of The Hague or, have been legalised through diplomatic channels.
If it is requested for a residence permit for family members, would it be necessary to invest the amounts required by Law 14/2013 (500,000 € in real estate), for each member of the family?
It is not required for additional investment for each family member.
The investment indicated in Law 14/2013 allows you to obtain an authorisation as an investor. The holder of such authorisation may (in accordance with the provisions of Article 62.4) apply for an authorisation for his/her spouse and children under 18 years or older who are economically dependant.
This authorisation depends on the investor and to obtain the permit it must be proved that it meets the general requirements, including that the investor has economic resources to maintain his family (which can be proved by any means: to have income, property, etc.) and the corresponding health insurance.
For example, if a married couple purchases a property of 1,000,000 euros, both spouses may obtain a Golden visa. If the property has a value of 500,000 euros, the buyer may obtain the Golden visa and his spouse also as a family member, proving the investor has financial resources and health insurance for both.
Can the investment be done through a Company?
Yes, as long as the Company (legal person) is domiciled in a territory that it is not a tax haven under Spanish law, and the applicant must have the majority of their voting rights and have the power to appoint and remove the majority of the members of its board.
What requirements must be met to renew the authorisation?
To renew the authorisation, you must have maintained the conditions that gave rise to the authorisation. That is to say:
For the investor it is necessary to have maintained the initial investment.
For the family members, it would be necessary that the investor who entitle the visa renew its authorisation and remains the conditions, and for ascending persons and children over 18 years, to prove the economic dependency.