- Venetia House
THE GOLDEN VISA EXPLAINED
Updated: Mar 21, 2022
¿What is the Golden Visa?
The Golden Visa for Spain is a residence visa issued to a non-EU national who intends to make a significant investment in the Spanish economy. The visa offers the holder and their family members residency in Spain and visa-free access to the Schengen Zone
In most cases, Spain Golden Visas are issued to someone who purchases real estate. However, they are also available to businessmen who invest in a Spanish company, which is why they are referred to as Spain Investor Visas as well.
To be eligible for a Spanish Golden Visa, you must make one of the following investments:
Purchase real estate in Spain worth at least €500,000. The real estate can be one single unit or several, with an overall worth of no less than €500,000.
Make an investment in the Spanish public debt of at least €2,000,000.
Buy shares in a company or make a deposit in a Spanish bank of at least €1,000,000.
Invest in a new business that will offer employment opportunities, contribute to scientific and/or technological innovation and have a relevant socio-economic impact in the area where the business will be undertaken.
In addition to the investment, you must also fulfil the following requirements:
You must be of legal age (+18 years old).
You must have no history of criminal records.
You must not have been refused a Schengen Visa in the past.
You must have health insurance in Spain.
At the time of application, you must be committed to making the investment, but the investment does not necessarily need to be finalized,
You don’t have to be in Spain to apply for the visa, but you need a pre-visit to see your investment options up close, open a bank account, and meet with lawyers. You can go through this process yourself or with the help of experienced professionals, i am in colaboration with Fran @ https://afconsulting.es/ who will be happy to guide you through Zoom, please get in touch with me and i can arrange an appointment for you.
Once you are settled on investment, you can give Power of Attorney to your lawyer to submit your Spanish Golden Visa application and secure your deposit.
Application for family members: Your family members have to apply for their own visas to Spain as dependents. They must include documentation that proves family relation, such as birth and marriage certificates.
What Family Members Can Be Included on the Spain Golden Visa?
The family members you can include on the Spain Golden Visa are:
Children under the age of 18. If you have any children who are not minors but are nonetheless dependent due to any health or mental conditions, they also classify for the visa.
Dependent elderly parents.
Your family members will also receive residence permits and be allowed freedom of movement in the Schengen Zone.
How Long is the Golden Visa for Spain Valid?
The Golden Visa which you receive at the Embassy will be valid for one year. During this year, you have to enter Spain and exchange your visa for a Spain residence permit, which will be valid for two years.
The residence permit can then be renewed indefinitely, without any stay requirements, as long as you maintain your investment.
You have to travel to Spain each time you need to renew your residence permit.
If you intend to actually live in Spain, then you can apply for permanent residence after five years of continuous residency (at least six months out of the year).
Can you apply for the Golden Visa if you bought the property years ago?
Yes, as long as you purchased the property after 2013 (the year in which the law regulating the Golden Visa came into force), and you are still the current owner of the property.
Proving you have the property
If you have purchased a property in Spain, you must prove you have acquired ownership of the property through a certificate issued by the Land Registry within the three months prior to the application.
This certificate must include the purchase amount (no less than €500,000).
If the property purchase has not been entered in the Land Registry yet, you can simply submit proof that the documents have been entered for filing along with the proof of payment.
If the purchase of real estate has not been finalized, you can submit the preliminary contract, including a down payment, and a letter from a financial institution in Spain proving the availability of the required funds.
With Thanks to https://www.schengenvisainfo.com/