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The Spanish Golden Visa or the Investor’s Visa is a residency permit that gives the non-European holder the right to stay and work in Spain. The basic requirement is that the interested applicant makes one of the following investments:
Spain is part of the European Union, which means Spanish residents can travel visa-free to all Schengen Zone countries for you and for your family
The minimum investment requirements are net investment amounts. In other words, in addition to the minimum euro amounts, you will need to pay transactional costs associated with the acquisition or investment.
In the case of a real estate investment, these costs consist of the following:
Entrepreneur’s Act (Law 14/2013, of 27 September): visas and authorisation of residence for foreigners who invest in the property sector in Spain
The new law permits non-resident foreigners who intend to enter Spanish territory to make a “significant investment” of capital to apply for a residence visa for investors.
Specifically, investment is defined as, the acquisition of property in Spain with an investment value equal to or greater than 500,000 euros, per applicant.
The investment must be free of all charges and encumbrances, although charges on any part in excess of 500,000 euros are permitted and the investment may be in a single property or in various properties as necessary to reach the minimum amount required.
To obtain the visa, the applicant must prove that they fulfil the general requirements for entry and habitual residence for foreigners who are not going to work: – not being in Spanish territory irregularly, being over 18 years of age, having no criminal record in Spain or in the countries where they have resided in the last 5 years, not being identified as rejectable in any country with which Spain has signed an agreement in that regard, having public or private health insurance and having sufficient financial resources for themselves and for their family members.
They must also prove that they have acquired ownership of the property by presenting the certification from the Land Registry relevant to the property or properties, issued no more than 90 days prior to submitting the visa application.
The investment may be made through a company, provided that it is not domiciled in a tax haven and that the investor holds a majority of the voting rights and has the power to appoint and remove the majority of the members of its administrative body.
The law also permits family members to benefit, as the applicant’s spouse, children under 18 years of age and dependent children of legal age may also apply for the visa.
The visa is valid for one year, with the possibility of renewing the residency by means of an additional authorisation of residence for 2 years, renewable every 2 years for as long as the initial conditions for the investment are maintained.