Articles

GOLDEN VISA. RESIDENCE FOR INVESTORS

 

  1. What is the minimum economic requirement to obtain a Golden Visa in Spain?

 

The law regulates a specific visa for foreigners not residing in Spain who intend to come to the country making a significant capital investment. These foreigners can apply for a visa of stay or a residence authorization. The law considers as significant investment:

  1. a) An initial investment with value equal to or greater than 2 million in Spanish government debt securities, or a value equal to or greater than one million euros in shares of Spanish companies, or bank deposits in Spanish financial institutions.
  2. b) The acquisition of real estate in Spain with an investment equal to or greater than 500,000 euros per applicant value. Prior to the application of the residence permit, it is required to have purchased the property and supply the Spanish consulate with a certificate from the local Property Registry.
  3. c) A business project to be executed in Spain and has a consideration of general interest, for which it must comply with at least one of the following conditions:

(I) creating jobs.

(II) Making an investment with relevant socio-economic impact in the geographical area in which it will develop the business activity.

(III) Significant contribution to scientific innovation and / or technology.

In all of the above situations, the awarding of this residence permit does not require actual residence in Spain, which has the consideration of a yearly stay in the country of 183 days. The only requirement is to visit Spain once during the period of residence.

 

  1. What is the legal procedure?

The visa is processed at the Spanish consulate in the country of origin or permanent residence. Our firm will be responsible for carrying out all the necessary procedures to obtain your visa.

Our service includes:

  • Documents Translation
  • Preparation of all documents required for the visa, fulfilling all the requirements of the legislation and regulations of the Spanish Ministry of Labor Immigration
  • Processing of resident card in the Spanish immigration offices.
  • Detailed assessment and explanations of the procedures for the granting of the residence investment authorization.
  • Real state assessment on prime locations.
  • All the legal technical work for the purchase of the real state;
  • Due diligence of the property
  • Contract drafting
  • Drafting of deeds at the notary
  • Inscription of the Property Registry
  • Property Taxation
  1. For how long will I have my residence permit / Golden Visa

The granting of the initial residence authorization is for one year; the authorization will be renewed for a period of two years, which in turn may also be renewed.

Our firm will assist you in the renewal of the residence permit,

  1. Who can be included in the Golden Visa application? 
  • Spouse
  • Underage sons and daughters
  • Over 18 sons or daughters who are not married and economically depend on the investor
  • Investor’s parents economically dependent
  • Parents of investor’s spouse economically dependent
  1. Is there the possibility of making the investment through a company?

The Law grants that the investment be made through a legal entity domiciled in a territory that is not considered as a tax haven.

In this case, the person who intends to obtain the residence permit must have the majority of the voting rights and the power to appoint or dismiss the majority of the members of the administrative body.

For further information contact our immigration department. premiumimmigration@jimenezastorga.com

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