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The Spanish Golden Visa

Raquel Guzmán

Escura

The Spanish Golden Visa Introduction

In 2013, Spain introduces Law 14/2013, of September 27th, on support for entrepreneurs. This law enables non-European nationals to obtain residency permits in return for investing in Spain, becoming this authorization popularly known as the Spanish Golden Visa.

Beneficiaries

  • Investor
  • Spouse or unmarried couple
  • Children under the legal age of 18 years old
  • Children over 18 years old, financially dependent on the investor
  • Ancestors financially dependant on the investor

Benefits

  • Constitutes title enough for the investor and its authorized family members, to both live and work in Spain through the duration of the permit
  • Grants the right to travel across all 26 Schengen countries without border control

 

Investment

 

In order to apply for a Golden Visa one of the following investments in Spain is required:

a) INVESTMENT IN PROPERTIES

  • 500.000€ which can be distributed in several properties, as far as the total investment amounts to 500.000€ or more.

b) INVESTMENT IN CAPITAL

  • 1.000.000€ in company shares or participation in Spanish companies.

  • 2.000.000€ in Spanish Public Debt.

  • 1.000.000€ in bank deposit of which the applicant is the sole holder.

  • 1.000.000€ in investment funds, investment funds of close-end type or venture capital funds set up in Spain.

 

Application

Where to apply

  • Outside of Spain, it is possible to apply for an Investors Visa at the Spanish consulate in the country of residence. 

  • Within Spain (if in legal situation or with a prior Investor Visa), it is possible to request a Residence Permit directly before the Unit of Large Companies and Strategic Collectives (UGE-CE).

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DURATION

The initial authorization period is:

  1. For an Investors Visa: 1 year
  2. For an initial Residence Permit: 2 years

 

EXTENSION

Those foreigners wishing to reside in Spain for a longer period may:

  1. Apply for a Resident Permit if previously holding an Investor Visa: 2 years
  2. Request a renewal if previously holding a Residence Permit: 5 years
* The maintenance of the preliminary conditions for the granting of the Visa / Permit is required

 

Procedure

 

a) Investors Visa

  • The decision is made and notified by the Consulate within 10 working days after the request is filed.



b) Residence Permit

  • The decision is made by the UGE-CE within 20 working days after the request is filed.

The request for residence permits and its renewals extends the validity of the stay or residence status of the applicant until the procedure is resolved.

 

The Spanish Golden Visa Frequent questions

 

1) Can holders of an investment visa be admitted to any EU State?

Yes, foreigners holding a long‐stay visa, or a residence permit may circulate freely for no more than three months in any six‐month period, within the territory of the other Member States.

 

2) If a family residence permit is applied for, is it necessary to invest the amounts required by each member of the family?

No, no additional investment is required for each family member. The investment indicated allows obtaining a permit as an investor (fulfilling the minimum investment amounts at his % of property) and the holder of such permit may apply for a permit for its family.

 

3) Can family members work with their residence permit?

Yes, as far as they comply with the applicable labor regulation.

 

4) Can the investment be made through a legal entity?

Yes, as far as the entity is domiciled in a territory not regarded as tax haven under Spanish law, and the applicant must have a majority of its voting rights and have the power to appoint and dismiss the majority of the members of its administrative body.

For more questions on the Spanish Golden Visa, click here.

If you have any questions, please do not hesitate to contact Escura's team: 

Elena Escura - eescura@escura.com 

Santiago Dutra - sdutra@escura.com

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