Obtain Spanish Golden Visa
Updated on Wednesday 16th September 2020
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A special investment program in Spain allows individuals to obtain residency through investment. In order to obtain a Spanish Golden Visa, the applicant needs to commit to making an investment in real estate or capital investment, open a business or reside in the country as a highly qualified professional or following a corporate transfer. This type o visa is available to non-EU nationals who are over the age of 18 and who observe a set of other conditions.
The process of emigrating to Spain can be shortened and simplified when gaining residency through investment and this strategy is well worth considering for those entrepreneurs who are keen on making this type of investment in a Spanish city. Our immigration lawyers in Spain can help foreign investors interested in moving here based on a Golden Visa. They can rely on us for support during the entire immigration procedure.
The Golden Visa program in Spain
The following types of investments qualify for this type of residence permit:
- capital investment under the form of a deposit of 1 million euros in a Spanish bank account for at least 5 years;
- capital investment of at least 1 million euros under the form of shares in one or more local companies;
- capital investment worth a minimum of 2 million euros in Treasury bonds.
- Real estate: purchasing a property with a minimum value of 500,000 euros prior to making the application.
- Entrepreneurship: opening a business or starting an entrepreneurial project that is of general interest.
- Highly qualified professionals: individuals who are experts or considered highly qualified in a certain business sector.
- Educational and research: for foreigners who engage in research or educational activities in Spain.
- Intra-company moves: for professionals who are transferred within the same company that is also present on the Spanish market.
No matter the types of investment, it must be maintained for a minimum period of 5 years.
Law 14/2013, or the Entrepreneur Law, the Support to entrepreneurs and investors Law, is the one that offers residency visas on the base of these special investments, particularly for the purpose of aiding in the internalization of entrepreneurs. One of our immigration lawyers in Spain can provide investors with more information about this law and its categories of accepted investments.
For the purpose of this article, we will continue to refer to real estate investments and how these can be granted based on the golden visa scheme.
The main requirements for those who wish to enter the Spain Golden Visa program are the following:
- make a real estate investment: the entrepreneur needs to make the investment in real estate and not in another field; the property can be residential or commercial and can be rented afterward;
- observe the investment value: the investment amount has to be 500,000 €, however, this does not have to be the value of a single property in Spain, the properties can be combines to amount to this investment value.
- commit to the investment: it is required that the investment takes place before the individual submits his visa application.
- prepare the funds: the funds, the 500,000 €, must be prepared and ready for investment in a Spanish bank account.
This can be a successful method of immigration to Spain from the USA or another country as long as entrepreneurs are able to comply with these conditions.
You can find out how to obtain a golden visa for Spain from the infographic below:
You can find out how to obtain a golden visa for Spain from the infographic below:
Spanish Golden Visa application
Certain conditions apply when making the submission for this type of residence permit, as per the situation of the investor. He must have a clean criminal record, medical insurance as well as proof of income to be able to stay in Spain for an indefinite period of time. Another condition for the applicant is that he does not have any other Schengen-area refused visas.
The property with a minimum value of 500,000 euros must have been purchased at least 90 days prior to making the submission for the golden visa. The purchase is to be certified by the Property Register and the new owner will need to bring the adequate ownership documentation when making the submission for the visa.
Below, our Spain immigration specialists list the requirements that are common for all of the categories of investments included in the golden visa program:
- have at least 18 years of age;
- duly fill in the application form for the desired type of investment;
- bring two recent passport-size photographs;
- bring a copy of the passport which must be valid for at least six months after making the application for the residence permit;
- have overseas medical insurance with a minimum coverage;
- have a criminal record for the past five years issued by the authorities in the country of origin;
- visa fee payment proof;
- proof of financial means for a minimum period after the submission of the residence permit application; a certain monthly amount applies for the applicant himself and an additional amount for any family members if the application also includes them.
If you want to apply for a Spanish Golden Visa and need information on how to choose the investment option, our immigration lawyers can advise you.
Business investment as a way to obtain a Spanish Golden Visa
One of the most appealing ways of immigrating to Spain through a Golden Visa is by entrepreneurship. This option allows foreign citizens to buy shares in Spanish companies, be them private or public, but also to become shareholders in such companies. As mentioned above, at least 1 million euros is required as an investment option.
The particularities of obtaining a Spanish Golden Visa through this option imply a temporary residence permit issued for one year initially, and then, the right to the extended residency of 5 years with the condition for the investment to be maintained. Moreover, a successful applicant is not required to live in Spain and only needs to visit the country at least one time in a calendar year.
After the 5-year period terminates, the candidate will obtain permanent residency in Spain, and after 10 years, he or she can also apply for Spanish citizenship.
In order to obtain citizenship through the Spanish Golden Visa scheme, the following requirements must be met:
- the applicant is required to give up his or her former nationality;
- a clean criminal record and proof of self-sustenance are also mandatory;
- a citizenship interview is required;
- proof of speaking Spanish and knowledge of the local cultures and values are also required.
The Spanish Golden Visa is a great option for non-EU citizens who want to obtain permanent residency and also be entrepreneurs in this country. They are also allowed to include close family members in the application. By close family members, we mean spouse and children.
If you are interested in emigrating to Spain and need support our local lawyers can help you apply for other visas.
Real estate investment under the Spanish Golden Visa
Another option for non-EU citizens interested in immigrating to Spain permanently is the acquisition of property here. As mentioned above, the value of the property must be at least 500,000 euros. This Spanish Golden Visa option also has its advantages. Among these, we mention that there are restrictions as to the type of property that can be bought (it can be a residential or commercial one) and it can be rented or leased by the new owner, therefore, it can be used for obtaining income.
Investors also have the possibility of buying more than one property in order to reach the 500,000 euros requirement. Joint investment is also allowed under the Spanish Golden Visa and even mortgages are permitted for the purpose of acquisition.
Our lawyers can explain all the benefits of buying real estate in order to obtain a Golden Visa. We also offer various services to those who immigrate to Spain.
Capital investment as a way to Spanish citizenship by investment
Non-EU citizens seeking to apply for Spanish golden visas have multiple options they can choose from when relocating to this country. One of them is related to capital investments. There are two options for investors interested in emigrating to Spain based on such investment:
- to invest at least 1 million euros in the purchase of shares in one or more local companies;
- to invest at least 2 million euros in the purchase of Treasury bonds.
Even if the amounts of money to invest are significantly higher compared to real estate purchases, these options usually target foreign citizens seeking to move here for entrepreneurship purposes.
Depositing at least 1 million euros in a Spanish bank account is another capital investment option for non-EU citizens interested in moving to this country. This type of investment is suitable for those who want to retire to an EU country and decide on Spain.
Our immigration lawyers in Spain are at your service with information and assistance in preparing the documents associated with all types of investment options.
Immigrate to Spain with family members
As mentioned earlier, non-EU citizens moving to this country based on a Spanish Golden Visa can also bring family members along. All immigration procedures are handled by the Ministry of Interior which will handle all applications.
Compared to other countries, there is no additional amount of money required as an investment in order to bring family members to Spain under the Golden Visa. These too will be issued temporary residence permits followed by the permanent ones.
Why apply for a Spanish Golden Visa?
There are various ways through which Spain immigration can be ensured, among these employment or business, however, the Golden Visa Scheme is tailored to the needs of non-EU citizens who want to relocate to one of Europe’s most beautiful countries.
Spain also offers other advantages when immigrating based on the investor visa, as one is allowed to purchase real estate in any part of the country, compared to other EU states which permit the purchase in specific regions.
Our immigration lawyers in Spain can handle the application documents and can help those who want to move here throughout the entire procedure. They will also answer any questions a candidate might have.
How to choose the best investment option under the Spanish Golden Visa
Spain is one of the European countries to offer an impressive number of investment options to those who want to move here based on a golden visa and choosing between them can be difficult.
When choosing a suitable option, there are several aspects that need to be considered among which for some, the amount of money to invest is the most important. From this point of view, real estate investment is the most appropriate. For entrepreneurs, starting a business is perhaps an option that suits their lifestyle and qualifications.
The Spanish golden visa comes with various requirements for each type of investment which is why one should consider every aspect of the application before starting the procedure. If you need information about each option, our immigration lawyers in Spain are more than happy to assist.
The Startup Visa – an alternative to the Spanish Golden Visa
Foreign entrepreneurs interested in starting their own business in Spain have another option apart from the Golden Visa Scheme. This is called the Startup or Entrepreneur Visa Program and is a cheaper alternative to citizenship by investment.
The program is new and allows foreign citizens to immigrate to Spain by starting a business. Just as under the Spanish Golden Visa Scheme, this one also has specific requirements and eligibility criteria the applicants must comply with.
Even if each application is treated on a case-to-case basis, applicants must comply with a few requirements which imply:
- the business to be created must bring a significant contribution to the Spanish economy;
- the applicant must have specific qualifications or managerial experience in the field the company will operate in.
In order to support the application, the candidate for the startup visa must submit various documents with the Ministry of Economy and Competitiveness. Among these, a business plan, a thorough description of the project, a description of the product or service to be created by the company, a market analysis. Information about financing options, where these are necessary must also be included in the application file. Additionally, the entrepreneur must prove how the business will contribute to the economy.
Compared to the Spanish Golden Visa, this program has the advantage of not imposing a minimum amount of money as an investment. Also, the visa is issued for one year with the possibility of being transformed into a residence permit with a validity of 2 years, followed by renewal every other 2 years.
If you consider the Startup Visa a more suitable option, we invite you to reach out to our immigration lawyers in Spain for information.
Also, if you are planning to immigrate to Spain from USA, we are at your service with complete information on how to prepare for moving here.
Additional information for those interested in Spain immigration
The recipient of a golden visa in Spain is granted a residence permit valid for one year, which can then be renewed for another two years, and again as needed. In order for the renewal to be possible, the holder must show that he continues to be the owner of the property initially purchased when the application was first made.
One of our Spain immigration agents can give you more details about this program or about the alternatives to gaining residency.
The golden visa is one of the manners in which individuals interested in emigrating to Spain can eventually acquire citizenship. The holder of a valid residence permit can apply after a period of ten years during which he has legally resided in the country.
Non-EU citizens who are interested in more information about this manner of living in Spain ling-term can contact us for complete assistance for immigration purposes. We also provide services to EU nationals who are subject to lighter requirements for staying in Spain but no nonetheless need to comply with a set of formalities after having arrived in the country.
According to a report from 2017, the golden visa program has been the recipient of approximately 3 billion euros since its inception at the end of September 2013. According to the same source, some of the other statistics are as follows:
- the approximate number of residence permits issued during this time was 3,351;
- approximately 94% of the applicants are real estate investors;
- approximately 40.9% of the applicants were highly qualified professionals.
Nationals from China have been the most numerous during this time, followed by those from Russia, Ukraine or Egypt, and Venezuela. The top cities for applicants for a golden visa are Barcelona, Madrid, Malaga, and Alicante.
FAQ on the Spanish Golden Visa Scheme
- Do I need to move to Spain if I obtain a golden visa?
- Can I work under the Spanish golden visa?
- What is the validity of a golden visa?
- Can I get Spanish citizenship based on a golden visa?
Investors who wish to know more about this type of residence permit, as well as the conditions for Spain immigration, can contact us.
We provide complete immigration services to real estate investors, entrepreneurs, and individuals who wish to work or to study in Spain. Our team is also able to provide assistance in family reunification matters as well as other issues related to immigration. You can reach out to us for complete details about our services.