Golden Visa is a residence visa for investors. It was created by Law 14/2013 to support entrepreneurs and their internationalization. It aims to attract non-EU foreign investors.
The Golden Visa program is a singular type of residence intended for all those non-EU citizens who wish to relocate to the territory Of Spain and make a significant investment in Spain. Most of the housing permits for non-Europeans have difficult procedures.
It allows foreign investors who meet certain requirements to reside legally in Spain for an initial period of six months to two years depending on the type of investment, with no maximum limit.
if you need help or more information to process your golden visa, do not hesitate to contact us through the button below.
What is the Golden Visa or Investor Visa?
What is a golden visa? Well, this permit allows you and your family members, if they meet the age requirements, to live and work legally in Spain (and also bring your family), without the need to visit the country more than once a year. In addition, this visa also allows you to move freely within the Schengen Area and if you come to Spain, we can apply for it in your name and on your behalf directly electronically to your Residence Permit and you will obtain it while you are in Spain.
Golden Visa Programme in Spain for investment
The golden visa spain programme allows for different types of investments:
- Invest a minimum of €500,000 in Spanish Real Estate (without mortgage). This programme focuses on the promotion of real estate investment.
- Invest €2 million in Spanish government bonds.
- Invest €1 million in Spanish companies (shares).
- Deposit €1 million in a Spanish bank account.
- Initiate a business project in Spain of general interest, which creates employment, contributes to technological and/or scientific innovation or has a socio-economic impact on the local territory. However, there is more to consider before this visa is granted.
This type of permit is foreseen for all citizens from outside the European Union who wish to move and reside in Spanish territory and make a significant investment in Spain. So we already have an idea of what a golden visa is.
The law that regulates the Golden Visa is Law 14/2013, of 27 September, to support entrepreneurs and their internationalisation.
Residence visa requirements for real estate investment in spain
An essential aspect, when we talk about obtaining a residence visa for real estate investment in Spain, is to know that, to the 500,000 Euros of real estate investment for the Golden Visa Spain, the corresponding taxes must be added. As a general rule, if we refer to a first transfer, the operation will be subject to Value Added Tax (VAT). In the case of a second transaction (in the case of the sale of second-hand property), the transaction will be subject to Transfer Tax (ITP).
Gold Visa card requirements, what are they?
There are some golden visa spain requirements that have nothing to do with the investment itself, to apply for a gold visa you must meet the following requirements to apply for a golden visa:
- You must be a resident of a country outside the European Union. Do not forget that it is intended for investors from outside Europe.
- You must be over 18 years old.
- You must not have a criminal record.
- Have a private medical insurance in Spain with wide coverage.
- Demonstrate that you have sufficient financial means to live in Spain and support your family.
- Make the corresponding investment as mentioned above.
Golden Visa spain applicant profile
- Highly qualified professional.
- Transfer of employees within the same company or group of companies.
Any of these profiles, however, need to make an investment in Spain to obtain the Spanish Golden Visa.
Who has to apply for a visa or residence permit?
The investor or his/her legal representative must apply for the visa or residence permit through the golden visa application form. It is important to distinguish WHERE you are at the date of application to know if you will apply for your Investor Visa or your Residence Permit:
- INVESTOR VISA , if you are outside Spain at the time of application. Visa applications must be made at the Spanish Consulate in the country of origin or residence. Applications for residence permits must be made at the Large Companies and Strategic Groups Unit (UGE-CE).
- RESIDENCE PERMIT, if you are currently in Spain at the time of application. Applications for residence permits must be made at the Large Companies and Collectives Unit Estratégicos (UGE-CE) and we can submit all documents and applications on your behalf electronically.
Can family members benefit from the investment of the principal Golden Visa applicant?
Yes, they can also apply for a gold visa if they have any of the following relationships
- Spouse or unmarried partner («civil partner»)
- Minor children or children of legal age who are financially dependent on the holder.
- Dependent parents.
How long does the golden visa permit last in Spain?
In short, once the investor has obtained his or her golden visa, he or she will have 2 years to reside legally in Spanish territory. Once this temporary period has elapsed, the applicant can apply for a renewal that will allow him/her to be a legal resident for an additional 5 years.
To carry out this procedure, the interested party must prove that he/she continues to be the owner of the property that was the object of the investment, whether it is real estate, shares or public debt. In addition, you must have visited Spain at least once during the year.
Remember that the Golden Visa is one of the many ways to obtain Spanish nationality. After 10 years of legal residence in Spain, the investor will be able to carry out the relevant procedure.
Golden Visa permit summary
As you will see, the difference between presenting the Golden Visa/Investor Visa in Spain or outside Spain has an impact on the deadline for the granting of the visa or residence permit:
- INVESTOR VISA: 1 year.
- RESIDENCE PERMIT: 2 years.
- RENEWAL of the residence permit: 5 years and the renewal does not require effective residence in Spain
How can I get the investor visa or Golden Visa?
According to the «Law 14/2013, of 27 September, to support entrepreneurs and their internationalisation» for a capital investment to be considered significant one of the following criteria must be met:
- Two million euros in Spanish public debt securities.
- One million euros in shares or equity investments in Spanish companies with effective business activity.
- One million euros in investment funds, closed-end investment funds or venture capital funds incorporated in Spain, included in the scope of application of Law 35/2003, of 4 November, on Collective Investment Institutions, or Law 22/2014, of 12 November, regulating venture capital entities, other closed-end collective investment entities and management companies of closed-end collective investment entities, which amends Law 35/2003, of 4 November.
- One million euros in bank deposits in Spanish financial institutions.
- The acquisition of real estate in Spain with an investment value equal to or greater than 500,000 Euros (FREE OF TAXES AND TAXES).
- A business project to be carried out in Spain that is considered and accredited as being of general interest, and must be considered as such if at least one of the following conditions is met:
- The creation of jobs.
- An investment with a relevant socio-economic impact in the geographical area where the activity will be carried out.
- A relevant contribution to scientific and/or technological innovation.
The residence visa for investors may be obtained by a representative, designated by the investor and duly accredited, for the management of a project of general interest, provided that the project meets one of the conditions listed in letter c).
- It will also be understood that the foreigner applying for the visa has made a significant capital investment when the investment is made by a legal person established in a territory that is not considered a tax haven under Spanish law and in which the foreigner directly or indirectly holds the majority of the voting rights and has the power to appoint or dismiss the majority of the board of directors.
What documents do I need to submit with my application?
We have seen how one of the fundamental requirements for obtaining a residence visa for real estate investment is to prove, by means of the corresponding document, that the investment has been made.
The question now is: what documents exactly justify this investment?
- The duly completed and signed application form.
- A copy of a valid passport and, if applicable, a copy of the passport of the applicant’s family members.
- Proof of sufficient economic resources for the applicant and their family members during their period of residence in Spain, which can be justified. Normally monthly 400% of the IPREM (for 2022 the IPREM is 579,02€ so about 2.316,08€ monthly) In addition, for the main applicant must accredit at least 4oo% of the IPREM for the 2 years (about 56.000€) and for the maintenance of each of the dependent family members, monthly, 200% of the IPREM, which in 2022 amounts to 579,02€ (about 28.000€ per family member)
**Documents must be translated into Spanish.
- Proof of investment documents. Depends on the type of investment.
- Unlisted shares or units: copy of the investment declaration made to the Foreign Investment Register of the Ministry of Economy and Competitiveness.
- Listed shares: certificate issued by the financial intermediary registered with the National Securities Market Commission or the Bank of Spain, stating the investment.
- Public debt: certificate issued by the financial institution or the Bank of Spain certifying that the applicant is the sole holder of the investment for a term of 5 years or more.
- Investment funds or venture capital funds: certificate issued by the management company, incorporated in Spain, duly registered with the National Securities Market Commission, certifying that an investment of at least one million euros has been made in one or more funds under its management.
- Bank deposits: certificate issued by the financial institution certifying that the applicant is the sole holder of the bank deposit.
- Acquisition of Real Estate: certificate of ownership and encumbrances from the Land Registry corresponding to the property or properties dated prior to 90 days before the date of application and deeds of sale of real estate.
- Business project: favourable report from DGCOMINVER.
- Proof of legal residence in Spain at the time of application (e.g. a notarial deed before the Spanish notary or stamp of entry into Spain in your passport).
- Have public or private health insurance with an insurance company authorised to operate in Spain. Bearing in mind that the insurance policy does not contain co-payments and offers full coverage throughout Spain.
- Not having a criminal record in Spain or in the countries in which you have resided during the last five years, for offences defined in the corresponding Spanish legislation.
The certificate must be duly legalised and translated into Spanish by a sworn translator.
- Proof of payment of the fee.
- Signature of the document designating the legal representative for the submission of all documents and the application form.
- In the case of FAMILIARS:
- The application form duly completed and signed by the family member (in the case of a minor, it must be signed by his/her legal representative).
- Copy of a valid passport.
- Have public or private health insurance with an insurance company authorised to operate in Spain.
- The criminal record of the family members must be duly apostilled and translated into Spanish by a sworn translator.
- Marriage certificate duly apostilled and translated into Spanish by a sworn translator.
- Birth Certificate (Children who are minors) must be duly apostilled and translated into Spanish by a sworn translator.
- For children over 18 years of age, any document proving economic dependence (payment of university fees, cohabitation, etc.).
- Proof of payment of the fee (as a minor, the legal representative must pay the fee).
Benefits Visa Gold or Visa Gold Spain
This programme requires a very specific situation, but the visa gold card benefits related to your residency in Spain are remarkable. The Golden Visa Spain needs to be a holder of a Golden Visa Spain or Visa Gold Spain means:
- It grants you entry into the EU (Schengen area).
- You can apply for the same permit for your spouse or partner, minor or adult children, who are economically dependent on you, including also ascendants.
- You only have to visit Spain once a year to keep the permit, and even then a prolonged stay is not necessary.
- The first residence permit for investors is valid for two years. After that period, non-EU investors who are interested in residing in Spain for a longer period can apply for renewal of the residence permit for successive periods of 5 years, provided that the conditions are maintained.
- Once the 2-year permit is granted, the right to work as an entrepreneur or employee is obtained.
- After ten years, you are given the option to apply for Spanish nationality.
Golden Visa Madrid
The investor permit or the so-called golden visa is a permit that is regulated under the Entrepreneurs Law that came into force in 2013. But today we have been processing this type of permit for almost ten years and there are many people who do not know well the processing and do not know the requirements so to summarize a little this permit to give ten keys to process it successfully.
Ten keys to the Golden Visa
This news the first key that we want to indicate for the permit as an investor is the investment, you know that as the name of the authorisation itself indicates, we must make an investment in Spain to be able to access this permit here that the law of entrepreneurs establishes several ways to be able to make this investment, so to speak, we can:
- Buy public debt
- We can buy a house or several houses
- We can make bank deposits, i.e. we have several ways through which we can make an investment that must be of a certain amount as a minimum to be able to access this permit as an investor.
This authorization of residence or the one known as golden visa the second key of the permit as investor is who can process this permit this permit can be managed by any person any foreign citizen over 18 years old or in its case its legal representative this type of permits are also made in the unit of big companies are not managed through the office of foreigners and as always we can do it ourselves or through a legal representative.
The third key that we want to indicate about the golden visa or the authorization as investor is where the case is processed will depend on where we are if we are outside Spain; in this case we can ask for the visa in the consulate of Spain itself either in our country of origin or in the country where we have legal residence if on the other hand we are already in Spain and we are legally, that is to say we are as a tourist we will be able to make directly the request for the authorization in the unit of large companies and strategic groups the fourth key of the permit as investor is the duration of the card; the authorization itself has a validity of two years and once as any permit in Spain we are close to the expiration of our card we will have to renew it and once renewed we will be given a five-year card.
The fifth key to the permit as an investor is the issue of exit, unlike what happens with any other permit, for example in the law on foreigners, a non-profit residence permit, which is the similar or analogous authorisation within the law on foreigners. They have very different requirements, but to give an example of non-profit residence, it is necessary to have a relatively continuous residence in Spain. In this case, one of the advantages that we find in the permit as an investor is that for its renewal it is not necessary to have a continuous residence in Spain, that is to say, we can have stayed most of the time outside of Spain. This will not be an impediment and, like any other residence card, we will be able to use it to travel in and out of Spain without any inconvenience.
The sixth key to the permit as a golden visa investor is the family members, like any other permit. We can regroup our family members, you know as always, the spouse, the partner in the adult and minor children, the ascendants. Let’s say that the family unit is the same as for example in family reunification and that perhaps in this type of permit we can extend it a little more. Normally they are the same, but now we can regroup with any other permit. The good thing about the investor permit and also any of the authorisations that are regulated by the law on entrepreneurs is that we do not have to wait a certain period of time in Spain. As a resident, in order to be able to regroup our family members, the application for authorisation as a family member of an investor can be made at the same time as the holder or at a later date, as you know from our permits. For example, in the general regime or as an employee or self-employed person, when it is initial, we have to wait one year to be able to regroup our family members. In this case, we can do it at the same time as the holder applies for authorisation as an investor.
The seventh key to the golden visa or the investor permit is the criminal record, as you know, as in any other permit or any other procedure or any other authorisation, it is necessary to have no criminal or police record in the country of origin or country of residence as well as in Spain, so it is important not to have any type of record to prevent this from interfering negatively in our application.
The eighth key to our permit as an investor is the economic means, as you know that at the beginning and in the first of the keys we talked about investment. If, for example, we are going to buy several properties, you know that the minimum amount we have to invest is 500,000 euros, this amount must be free of charges, in other words, it cannot be mortgaged, we can mortgage from 500,000 euros, but 500,000 euros must be paid in addition to the investment we have made, and we must also prove that we have invested this money in Spain. We have to prove that we have our own financial means for ourselves and our family, both in terms of maintenance and accommodation.
The ninth key to the golden visa or investor permit is that it is to all intents and purposes a residence card, a residence permit as such, and therefore counts towards nationality. For example, if you are a Venezuelan citizen who has bought without furniture, for example in a city in Madrid, and you already have your investor card as a Venezuelan citizen, you would only need two years of legal and continuous residence, in this case, as we have said, this permit counts towards Spanish nationality.
The tenth key as always as it could not be otherwise is the advice, it is important that if you are going to make this type of permit which also as we say is not a simple permit there are many people who still do not know well this procedure is important that you get advice from a specialist with a specialist in foreigners to help you so that you can process everything you need.