The Golden Visa is one of the most used mechanisms to invest in Spain and thus obtain the residence permit for the investor and his family group. In this note we will tell you what are the requirements to obtain it, what is the necessary documentation and how we can help you to obtain it. If you are thinking of residing in Spain and want information about the visa, keep reading!
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What does “Golden Visa” mean in Spain?
When we talk about the Golden Visa, we are referring to a permit that is granted to foreigners interested in arriving in Spanish territory with the aim of making a significant investment. That is, if a person from another country wishes to invest in Spain, they can apply for this type of visa.
The regulation for this type of operations is the Law of Entrepreneurs, Chapter II Investors. In its Article 63, it refers to the granting of residence to foreigners who make a significant investment in Spain. In turn, the investor can remain in Spain for as long as they want as long as the investment remains with their family.
Who can obtain this type of visa?
Who requests to obtain a Golden Visa in Spain must have made a purchase of at least one home with a total value of 500,000 euros or more. This is the main requirement that an investor needs to specify the authorization.
A piece of information to take into account, from the Large Companies Unit (UGE) it is required that the home or property in which it is invested must be free of charges. In other words, the applicant has not used any type of credit or mortgage. Therefore, if you are thinking of applying for this visa, we recommend that this requirement not go unnoticed.
Official information to obtain the Golden Visa
How is home ownership proven?
In order to prove the ownership of a home to obtain the Golden Visa in Spain, there are several ways.
In general, when real estate is acquired, the best known way to prove its ownership and investment is through the deed of sale or housing. Likewise, the certificate of the Property Registry can be presented.
At this point it is important to note that the certificate cannot be older than 90 days. In the event that it is within the period, it will serve for the accreditation of both the property and to corroborate that it is free of charges.
For cases in which the purchase is very recent and the registration certificate is not yet available, the document that must be presented is the one that proves the request that the registration is in process. At the same time, the documentation confirming the liquidation of the Patrimonial Transfer Tax and Documented Legal Acts.
In short, whoever applies for the Golden visa for Spain must have
- Deed of sale to prove ownership of the home
- Certificate of acquisition of that property in the Land Registry
- Proof of liquidation of taxes and charges
- If you want to request your authorization as an investor, you have two options:
- Request the Golden Visa in Spain outside the country with the property available
In these cases, the person who needs to apply for the visa must have each of the documents in advance. If you have these requirements, you can carry out the request at the Consulate of Spain to be an investor in the country and thus be able to reside legally in it.
Request authorization as an investor while in Spain
If you are living with a special visa or with a legal residence, the authorization for the Golden Visa in Spain can be requested from the country. In these cases, it would not be necessary to apply for a visa but to request an authorization as reverse directly with the UGE.
What are the requirements to obtain the Golden Visa in Spain?
The Golden Visa in Spain is aimed at any foreign person who wishes to enter and reside in Spanish territory through an investment. To apply, a person must be an investor, entrepreneur, qualified professional or researcher. As we have said, the person who invests in Spain will be able to reside in the country with their family
Requirements to obtain this visa:
- a) An initial investment equal to or greater than:
- 1st €2,000,000 in Spanish public debt securities, or
- 2nd €1,000.00 in shares or social participations of Spanish capital companies with a real business activity, or
- 3rd €1,000,000 in investment funds, closed-end investment funds or venture capital funds constituted in Spain, included within the scope of application of Law 35/2003, Law 22/2014 and by which modifies Law 35/2003, of November 4, or
- 4th €1,000,000 in bank deposits in Spanish financial institutions.
- b) The acquisition of real estate in Spain with an investment of a value equal to or greater than €500,000 for each applicant.
- c) A business project that is going to be developed in Spain and that is considered and accredited as of general interest, with some of the following conditions:
- 1st Creation of jobs.
- 2. Carrying out an investment with a relevant socioeconomic impact in the geo-environment
- graph in which the activity will be developed.
- 3rd Relevant contribution to scientific and/or technological innovation.
What are the advantages of this type of permit?
For an investor who wishes to reside in Spain, the best option is to apply for the Golden Visa. As we have already mentioned, thanks to this visa, by fulfilling a series of requirements, the investor can arrive and live in Spanish territory with his family.
It is not necessary to remain exclusively in the country
The permits that grant residence in Spanish territory have as a fundamental requirement the continued stay in the country. In other words, they require a person to reside in Spain for more than six months a year. In the event that this restriction is not met, the permit to reside will expire.
But, the Golden Visa in Spain has another type of regulatory framework. In this sense, the person who obtains permission to reside with her family through an investment has the possibility of remaining absent for most of the time the visa lasts. This is because the regulations take into account the international mobilization of this type of entrepreneur. In this way, the investor and his family will be able to travel around the world for whatever reason they deem appropriate.
The residence is for the investor and his family from the beginning
An important fact is that, in most cases, emigrating to another country is not usually an easy decision if the family does not accompany you. In this sense, some of the advantages for family reunification when obtaining the Golden Visa in Spain are:
- The investor should not move away from his family since he will not have to wait 1 year of residence to obtain the right of reunification as it happens with the other permits.
- This type of visa approves that the children over 18 years of age who are financially dependent on the entrepreneur can accompany him. As long as they haven’t started their own family.
- In addition to the children, the investor’s parents may also be part of the family reunification. Even those ancestors under 65 years of age, without having to wait 5 years for their reunion.
The Golden Visa allows you to obtain Spanish nationality by residence
When a visa of this nature is obtained, the applicant may choose and request Spanish nationality because he has been in a state of residence.
By obtaining the golden visa, the investor and his family acquire a work permit
Unlike the rest of the people and cases to obtain a work authorization, investors who have a Golden Visa in Spain will have the ideal right to work from the first moment they begin their residence.
The good news is that not only will the investor have work authorization, but also those who accompany them. As evidenced by article 6.1 of the workers’ regulations, each person in the investor’s family group over the age of 16 may work without being sponsored by an employer.
So far we will tell you what a Golden Visa is in Spain, what are its requirements and its advantages. In addition, we detail the way in which the Spanish territory currently continues to be a strong point for foreign investors. If you have any questions, you can leave us your comment and from Oi Real Estate we will answer you as soon as possible.
If you are interested in getting the Golden Visa we can help you! We are a real estate agency of luxury properties and we have more than 15 years
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