Investor Residence: “The Golden Visa”

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.