WHAT IS THE GOLDEN VISA SPAIN?
Residency by investment in Spain
KEY POINTS OF THE GOLDEN VISA SPAIN SCHEME 2024.
– The Golden Visa is a residency by investment program in Spain that also provides work permit for investors from outside the EU.
– Investment in closed-end investment funds or venture capital funds incorporated in Spain.
– Acquisition of shares or participations in Spanish companies.
– Investment in Spanish public debt.
– Bank deposits.
– Investment in business projects.
Golden visa or residency by investment in Spain?
OBTAIN RESIDENCY IN SPAIN THROUGH INVESTMENT.
The Golden Visa program or residency by investment in Spain program arises from the approval of Law 14/2013, in support of entrepreneurs and internationalization.
Since then, foreigners can apply for residence in Spain through investments.
Additionally, the residence permit grants the right to reside and work in Spain initially for 3 years*, as well as to travel within the Schengen Area.
The residence permit is renewable and can be extended up to 5 years, after which a long-term residence permit can be obtained.
INVESTMENT OPTIONS
– Two million euros in Spanish public debt.
– One million euros in shares or equity investments in Spanish companies with a real business activity.
– One million euros in investment funds, closed-end investment funds or venture capital funds incorporated in Spain.** One million euros in bank deposits in Spanish financial institutions.
– One million euros in bank deposits in Spanish financial institutions.
The modality of investment in real estate for an amount greater than 500,000 euros is in the process of being revoked.
There is no minimum amount for this type of investment; its impact on the general interest is assessed:
– Job creation.
– Socioeconomic impact in the geographical area where it will be developed.
– Relevant contribution to scientific and/or technological innovation.
** (It is understood to include those within the scope of application of Law 35/2003, of November 4, on Collective Investment Institutions, or Law 22/2014, of November 12, regulating venture capital entities, other closed-end collective investment entities, and amending Law 35/2003, of November 4).
How to apply for the Golden Visa Spain?
First of all, it is important to make sure that you meet the following requirements:
– 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.
– 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.
Benefits of the residency by investment in Spain program.-
Unlike other visas, with the Golden Visa Spain there is no obligation to spend a minimum time in Spain. Generally, you will be able to maintain your fiscal residence outside of Spain, and likewise benefit from having residency in Spain. You will also have the freedom to travel and stay unlimitedly in the EU (Schengen).
The Golden Visa is a privileged and fast permit.
The resolution of the application usually takes between 10 and 30 working days, thus being faster than other residence permits.
FAQ's: Residency by investment in Spain.-
– How long does the Golden Visa Spain application process take?
The Golden Visa application procedure can be divided into two stages:
1. The acquisition of the property can take approximately 6 weeks (40-50 business days). Ultimately, it will depend on external factors such as real estate agencies (if any), the seller of the property and the cooperation of the client.
2. The application process for the residence permit takes a maximum of 20 days.
– Is there any time limit to make the investment?
Currently there is no limit to making the investment. That is to say, you can buy several properties over the years. However, you will not be able to apply for the Golden Visa until the amount invested does not reach €500,000.
– When can I obtain Spanish citizenship?
The Golden Visa scheme does not automatically grant you a Spanish passport, but it allows you to reside legally in Spain. After a period of 10 years and fulfilling other requirements, you will be able to apply for nationality, which allows the issuance of a Spanish passport.
On the other hand, in the case of nationals of Latin American countries, Andorra, Philippines, Equatorial Guinea, or Portugal, the deadline to apply for nationality is 2 years.
