Golden Visa Spain
What is it?
In September 2013, a new law was introduced to encourage and support foreign investors (non EU citizens) and enable them to obtain a new type of visa and residence permit, this is known as a Golden Visa.
The programme is based on a flexible system for qualified immigration and promotion of international mobility for professionals, their families and dependents with the aim of attracting more foreign investment to Spain.
What are the benefits
The ability to enter and stay in Spain for a period of 1 year
To be able to circulate without restrictions in the ‘Schengen area’
Option to obtain a residence permit at the end of the visa period which is valid for two years and has a further 2 year renewable extension
No need for a minimum 183 days residency in Spain and tax affairs can be kept outside of Spain
The investor, spouse and children under 18 or dependent adults (for health reasons) can request the Golden Visa
What investment criteria is required to obtain a Golden Visa?
The law includes several different ways to invest in order to obtain eligibility for a Golden Visa and is focussed on individuals with a significant investment, where significant is defined as follows:An investment equal to or higher than 2,000,000 Euros in Spanish public debt
An investment equal to or higher than 1,000,000 Euros in shares of a private Spanish company or bank deposits in Spanish financial entities
An acquisition of real estate assets in Spain to the value of 555,000 +
Developing a business project in Spain which is suitable to be considered as being of general interest i.e. meeting one of the following requirements:Creating employment
Socio-economic impact on the geographical area where the project is being developed
A relevant contribution to scientific and/or technology innovation
A final assumption considered is a significant investment that cannot be financially valued in money or capital but is determined to be of social importance or have other economic benefit and would include highly qualified professionals working within the project.
Not to have entered or stayed illegally in Spanish territory
Be of legal age (18 or over)
Not have a criminal record in Spain or in any country where the applicant has previously lived for crimes existing under Spanish law
Not to have been refused entry in any of the Schengen countries
Have a public or private health insurance from an entity authorized to operate in Spain
Have sufficient funds to cover living/personal expenses and any family members seeking residence
Hold a valid investor’s visa
Visited Spain at least once during the period of the visa
Paid the authorisation process tax
Real estate investments must have a registry of Property certificate of Ownership dated 90 days or more before the submission of the application.
Bank deposits must have a certificate from the relevant financial institution to state that the investor maintained the deposit during the reference period.
Investment in unlisted shares must have a notarial certificate to state that ownership has been maintained by the investor throughout the valid period of the visa.
Investment in quoted shares must have a certificate from a financial institution to state that a minimum average of 1,000,000 Euro has been invested and maintained in quoted shares during the valid period of the visa.
Public debt investments must have a certificate from the Bank of Spain or financial institution to certify the maintenance of the investment made prior to the application is valid during the whole period.
Business projects must provide a favourable report confirming the reasons of general or economical interest from the Economical and Commercial Office in the relevant area.
Why buy your property with Williams Estates?
Williams Estates will offer you a completely new, dynamic and responsible approach to investing in property in Spain.
We provide each client with a dedicated, individually managed service from the first property search to our Client after sales service, ensuring that each step of the purchase process is professional, seamless and incorporates all the legalities needed to reach your long term goal of living, working and investing in Spain.
We also have an in house Lawyer who specialise in Property Purchasing and obtaining Golden Visas.
Frequently asked Questions
What is a Golden Visa?
A new type of residence visa, that came into effect in September 2013 and aims to stimulate foreign investors with capital to invest in Spain. Meeting the criteria offers a quick and easy way to obtain a Spanish Residence permit.
Are there different types of Golden Visa?
Yes, two groups. Capital investments, e.g. public debt, shares in Spanish companies, bank deposits, real estate acquisitions and other types of investments e.g. creating a company, highly qualified professionals.
Will the Golden Visa enable me to circulate freely within the Schengen area?
Yes, within Spain, France, Germany, Austria, Belgium, Denmark, Estonia, Finland, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Czech Republic, Liechtenstein, Luxemburg, Malta, Netherlands, Norway, Poland, Portugal, Slovenia, Slovakia, Sweden and Switzerland.
What about my tax residency?
The Golden Visa holder can keep tax residency outside of Spain, providing stays in Spain are less than 183 days per annum. In addition, with absences longer than six months per annum, the residency permit can be renewed.
Is it permanent?
Yes, there is a step by step process to follow which allows a one year stay in Spain, after this period expires, an authorisation can be applied for two more years which is renewable for a further two years on proof of the maintenance of the investment. This can lead to permanent residency after 5 years providing the investment is still valid.
Can I work in Spain with the Golden Visa?
Yes, the Golden Visa allows you to live and work in Spain.
How long does it take?
The process is relatively quick, the residence visa takes 10 working days then you can either wait for the one year expiry date or apply immediately for the 2 year residence permit which takes 20 days.
Can I buy more than one property?
Real estate investments can include more than one property and different types of property.