Golden Visa – everything you need to know

Golden Visa – everything you need to know

The concept of the Golden Visa refers to the residence visa for investors. This characteristic visa offers the opportunity to foreigners who are going to carry out an important capital investment within the Spanish territory, to access the residence of both investors and their relatives. The procedure for this turns out to be simple and fast.

Content

  • 1 Objective of the Golden Visa
  • 2 Difference between Golden Visa and Residence Permit
  • 3 Who can access the Golden Visa?
  • 4 What is the minimum investment required to access the Golden Visa?
  • 5 Conditions to meet to access the Golden Visa

Objective of the Golden Visa

The Government of Spain promoted the creation of this visa with the aim of increasing foreign investments within the nation. In this way, with the Golden Visa the procedures of permanence and entry are streamlined due to economic reasons.

Difference between Golden Visa and Residence Permit

Depending on the investor’s situation, two types of documents can be requested: a residence permit for reverses or the Golden Visa Spain, the residence visa for investors.

These two documents differ from each other in whether the investor is legally located abroad or, on the contrary, is within the national territory. If you are located in Spain, a residence permit for investors is requested for a period of two years. On the contrary, if you are located outside of Spain, you will have to apply for an annual residence visa.

In short, once the two years have passed, the permit can be renewed if the investment made is demonstrated. For foreign investors who wish to live in Spain for a longer period of time, they have the option of renewing their authorization in successive stages of five years if the requirements for which the visa was accessed are maintained. After a period of residence of 10 years, investors will have the opportunity to obtain Spanish nationality if they continue to reside in Spain, since they will meet the conditions for it.

Who can access the Golden Visa?

The Golden Visa will be accessible to any foreign person who does not have the nationality of any member state of the European Union.

In addition, these people will have to be constituted as researchers, entrepreneurs, highly qualified professionals, workers who make intra-company changes in their company or group of companies or investors.

What is the minimum investment required to access the Golden Visa?

Within article 63 of the Law on Support for Entrepreneurs and their Internationalization, the investment cases necessary to access the Golden Visa are exposed.

Within these cases, the most common is the acquisition of real estate whose cost is at least 500,000 euros for each investor.

Conditions to be met to access the Golden Visa

The residence visa for investors is composed of numerous points that must be met and like the rest of bureaucratic procedures, this process also needs its time. To speed up the procedure, it is advisable to go to the necessary advice to facilitate access to the Golden Visa.

Following the conditions set out in article 62 and stipulated in Law No. 14/2013, the requirements to be met are:

  1. Be of legal age, that is, over 18 years of age.
  2. Not having suffered from a contagious disease. To do this, a medical review will be required beforehand.
  3. Be a foreign citizen who does not belong to a member state of the European Union.
  4. Not to reside or have entered illegally or irregularly within Spain.
  5. Possess the necessary economic level for the investor and his relatives during the stage of residence in Spain.
  6. Carry out an important investment in Spanish territory. This condition is the objective of the Golden Visa, so it is mandatory to comply with it.
  7. Do not have any criminal record either in Spanish territory or in the country or countries in which you have lived in the last five years according to the crimes established in Spanish legislation.
  8. Pay the fee for visa or authorization procedures.
  9. Possess a private or public health insurance obtained with an insurance institution with the capacity to work in Spain.
  10. Never have been denied an application for entry of the investor in a Schengen country or in another country that has an immigration agreement with Spain

Spain is positioned as one of the countries with the highest profit due to the granting of this type of visa, due to the high valuation figure to carry out investments in the real estate market.

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