Golden Visa Spain 2023: Requirements and application ✈️🏠🇪🇸 (UPDATED)
The Golden Visa or residence by investment program arises from the approval of Law 14/2013, of September 27, to support entrepreneurs and internationalization. This law was made to encourage investment by foreigners for residence purposes. Due to this law, if you buy a property in Spain investing €500,000 you can apply for a visa. The Golden Visa Spain 2023 grants you residency and work permit in Spain, as well as being able to travel freely throughout Europe (Schengen area).
Golden Visa Spain: Requirements
– First of all, you cannot be a citizen of the EU, the European Economic Area, or Switzerland, or a family member of citizens of these countries.
– Also, you must be of legal age (+18 years old).
– You cannot have entered Spain illegally, nor have stayed illegally or been banned from entering any of the Schengen countries.
– Have public or private health insurance with an insurance company authorized to operate in Spain. It is important to note that travel insurance will not be valid.
– No criminal records within the last 5 years.
– On the other hand, you must prove the acquisition of a property in Spain with an investment value equal to or greater than €500,000. The property must be free of charges or encumbrances on that initial €500,000.
– Finally, you must have sufficient economic resources during your period of residence in Spain. That is, accredit at least an amount equivalent to €2,400 for your monthly support. In addition, if you have dependent family members, you will have to add €600 for each of them.
Investment through a company
Any individual (natural person) or legal entity (company) can complete the investment required for the Golden Visa Spain 2023.
In case you invest through a company, you must comply with the following:
- Your company can’t be domiciled in a tax haven.
- You must have a majority shareholding in the company, and power to appoint or dismiss the management body.
- Last but not least, submit a report from the DGCOMINVER accrediting the above-mentioned points.
👉 How to obtain the Golden Visa Spain?
To begin with, note that before applying for the Golden Visa you have to make the investment or at least have signed the “arras” agreement.
Once you meet the requirements, you can start the Golden Visa Spain 2023 application process. At the moment, there are two ways to apply.
– If you are already in Spain, you can apply directly for residence authorization. Such authorization will be granted for a period of 2 years. Keep in mind that this is a benefit of the Golden Visa, as with other visas you’ll have to apply from your country of residence.
– If you are in your country of residence, you can apply for a visa from the Spanish Embassy. This visa will be granted for a period of 1 year.
Golden Visa Spain Application from abroad
– Type of authorization or permit: Visa that will have a duration of 1 year.
– Place where to apply: Consulate or Embassy of Spain in your country of residence.
– Among the documentation that you will have to submit to apply for the Golden Visa Spain 2023, you will find the following*:
- First, your valid passport or travel document.
- Also, you will need a copy of the medical insurance policy.
- Official application forms duly completed.
- In addition, you will have to accredit the investment of €500,000 in real estate.
- Proof of sufficient financial means for you and your accompanying family members, and their respective documentation. You can submit bank statements, credit card statements or any proof admitted by law.
- NIE, Identification Number for Foreigners.
– Golden Visa Spain 2023 resolution period: 10 business days approximately.
* Please note that this list is merely informative, and the administration may ask for additional information or documentation.
The Golden Visa will allow you and your family to stay in Spain for one year without the need to obtain a Foreigner’s Identity Card.
At the end of the first year, you will have to ask for the authorization from Spain.
Golden Visa application from Spain
Because the Golden Visa Spain is a special permit, you will be allowed to apply for it from Spain. This way, you would avoid having to apply for the initial visa in your country of residence.
📝 #LuxtonTip If you can be in Spain at the time of submitting the Golden Visa Spain application, we recommend that you do so!
– Type of authorization or permit: Authorization that will last for 2 years, then renewable for periods of 5 years.
– Place of application: Large Companies Unit and Large Companies and Strategic Groups Unit.
– You have to submit the documentation indicated in the case of the application abroad.
– Resolution period: Approximately 20 business days.
During the period of one month from the granting of the authorization, you will have to apply for the Foreigner Identity Card.
What are the benefits of the Golden Visa Spain program?💯
– Unlike other visas and residence permits, with the Golden Visa Spain there is no obligation to spend a minimum time in Spain. If you are an investor and are interested in maintaining your tax residence in another country you can do so. But if, on the contrary, you want to live and work in Spain, you will not have any restrictions or limitations.
– It should be noted that spouses, domestic partners, ascendants, and dependent children (regardless of age) will obtain temporary residence permits.
– The Golden Visa program allows you to buy and sell real estate during the period of residence, as long as the investment threshold is maintained.
– Fast resolution times. The resolution of the Golden Visa Spain 2023 application takes between 10 and 30 business days, depending on the case, thus being faster than other permits.
This blog post does not constitute legal advice. For further information and personalized advice, it is important that you contact us. 📩