Law 14/2013, of September 27th, supports entrepreneurs and their internationalization and it regulates the granting of the so called “Golden Visa” to non-European Union foreigners nationals for the fulfillment of investments in Spain. Below you will find detailed information about this type of visa.
What is the “Golden Visa?”
- Residency for investments is commonly called the “Golden Visa”, which is a type of visa that permits residency in Spain for investors from outside of the European Union for up to 5 years.
What does it consist of?
- A residency visa is granted and allows a person to reside for at least one year without the need to deal with a Foreigner identification card.
- 2-year residency authorization may be renewed provided that:
- The realized investment is supported.
- At least one visit to Spain has been made during the residency period.
What advantages does it offer?
- Two-year residency authorization which may be renewed.
- In order to obtain this visa, one is not required to have actual residence in Spain (understanding that residency refers to greater than 183 days).
- It is only required to visit Spain once during the period.
- The authorization for the spouse and children will be processed together.
- Freedom to move within the Schengen boarders.
- The applicant is not required to be present for the filing of the application. They may request and collect the residency visa through a duly accredited representative.
Who can apply?
- The visa may be requested by investors that perform one of the following investments in Spain:
- Property Assets (500,000 €)
- Stocks or Bank Deposits (1 million €)
- Public Debt (2 million €)
- The visa may also be requested by persons carrying out business projects in Spain that are considered of general interest:
- Projects that suppose the creation of jobs.
- Realization of an investment with a socioeconomic impact in the geographic zone where it will be developed.
- Projects that suppose a significant contribution to scientific or technological innovation.
What are the general requirements for the application?
- Must be over 18 years old.
- Not be in an irregular situation on Spanish soil.
- No criminal record in Spain and in the countries where you have resided in the last 5 years, for offenses under the Spanish legal system.
- Not appear unacceptable in the territorial areas of countries for which Spain has signed an agreement in this regard.
- Have public or private health insurance with an insurance company that is authorized to operate in Spain.
- Have sufficient financial resources for themselves and the members of their family during the period of residency in Spain. (2.130€ per month for the interested party and 532€ for each family member in your care.)
- Able to pay the visa processing fee.
At ILP Abogados we are at your disposal to inform, advise and manage the processing and acquisition of your visa.