Golden Visa

The so-called Golden Visas are privileged residence and work permits that allow for people who comply with special requirements to opt for a faster and easier application process.

In September 2013, the Spanish government passed a law to encourage foreigners to invest for residency purposes, the Law 14/2013, of September 27th, to support entrepreneurs and internationalisation.

The Golden Visa allows a non-EU citizen to apply for a residence and work permit, if they:

  • invest 500.000 € in real estate in Spain,
  • invest 2 million € in Spanish debts,
  • invest 1 million € in Spanish companies, stocks,
  • deposit 1 million € in a Spanish bank account,
  • are hired as a highly qualified professional by a company in Spain or
  • plan on realising a business project considered as of special economic​ interest.

Some of the main advantages of this kind of permit are that the holder does not have to spend a certain amount of time in Spain to maintain it and the application processes are a lot faster. In case of a visa, the Consulate has to decide within 10 working days and in case of a residence permit, the administration has 20 working days to issue a resolution. Furthermore, every Golden Visa comes with a work permit for the whole Spanish territory.

Golden Visa: Real Estate Investment

CHARACTERISTICS OF THE GOLDEN VISA

  • The Golden Visa provides a variety of rights and advantages:
  • You start either with a one year visa or directly with the two year residence permit.
  • The holder obtains a residence and work permit for all of Spain.
  • You can travel to other Schengen Countries.
  • If you comply with the residence requirements, you can apply for permanent residency after 5 years.
  • No need to spend more than one day per term in Spain.
  • You can apply in your home country or while you are already in Spain.
  • The administration has to answer in 10 (visa) or 20 (residence permit) working days.

REQUIREMENTS

The basic requirements to apply for the Golden Visa through Real Estate investment are:

  • Purchase of a propertyin Spain for at least 500.000 €
  • Investment realised without financing.
  • Applicant is over 18 years old and a non-EU citizen
  • Sufficient economic means for maintenance in Spain
  • Full coverage health insurance in Spain

GOLDEN VISA FOR HIGHLY QUALIFIED PROFESSIONALS

The so-called Golden Visa as per Law 14/2013 allows you to obtain a residence and work permit if you are hired as a highly qualified professional by a company in Spain.

The requirements are:

  • The position requires for a highly qualified professional.
  • The candidate has the corresponding qualifications.
  • The position comes with a competitive salary.

The process requires for the employer to apply for the work permit. If the candidate is still in their home country, they then apply for the corresponding visa at the Spanish Consulate in charge of their case before coming to Spain. In case the candidate is already in Spain, the employer applies directly for the residence permit for the candidate.

The application for the work and residence permit can be presented online and have to be resolved within 20 working days.

FAQs:

I bought a property a few years ago, can I still take advantage and apply for the Golden Visa?

As long as Law 14/2013 was in force when you bought the property and you comply with the other requirements, you can apply without a problem. The law came into force on September 29th 2013.

Can I purchase various properties for lesser values and apply for the Golden Visa?

Yes. As long as the sum total of your investments complies with the amount of 500.000 €.

Can I finance at least part of the 500.000 € investment?

No. The full amount of 500.000 € has to be paid in cash, no financing allowed. If you were to buy a property for 750.000 €, it would be ok pay 500.000 € directly and to finance the remaining 250.000.

Can I bring my family with me on a Golden Visa?

Yes. You can apply for the following family members as your accompanying family:​ Your spouse or registered partner and any children under 18. Furthermore, you can apply for children over 18 who are financially dependent on you and who do not yet have a family of their own and for dependent parents or grandparents.

Can I travel to other EU countries with the Golden Visa?

Yes. The Golden Visa allows you to travel to Schengen Countries for periods of 90 out of 180 days.

How much time do I have to spend in Spain to maintain and renew the Golden Visa?

If you only wish to maintain and renew the Golden Visa, all you have to do is visit Spain once during the term of a permit. However, if you plan on getting permanent residency after 5 years, you have to comply with the requirements and spend most of each year in Spain.

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