The golden visa Spain is a law passed in September 2013 (within the new Immigration Law) by virtue of which Spain facilitates and issues visas and residence permits through a fast and agile process under a single authority.
This has the purpose of attracting talent and investment to the country. The Law is focused on workers of international companies, investors, entrepreneurs, professionals and researchers (including their wives and children).
What are the requirements for the golden visa?
It is important to be over 18 years old and not to be illegally resident in Spanish territory. You must also have a clean criminal record in Spain or other countries for a period of at least 5 years.
Not having restricted or prohibited the entry to countries with which Spain has agreements is very important. To have social security or some private medical insurance with a company with authorized coverage in Spain. Have a sustainable amount of funds to support yourself during your stay in the country.
It is essential to pay the fees for the corresponding application, as well as the possibility of obtaining a visa valid for 90 days for the residence for investors. Similarly, it is necessary have traveled at least, once to Spain in the authorization process and have Agree to and comply with taxes and social security obligations.
Other important requirements
- Buy a Spanish property for a value of 500,000 euros or more (can also be in several properties or co-properties). It must be proved that the investor is the owner of the property. Proof must be provided in the form of a certificate of ownership or certificates from the property registry or property in question, including a date of 90 days or less after the application is submitted.
- Transfer of a capital of 1,000,000 euros into the banking system or a Spanish company. This capital can be invested in any type of business or company.
What is the process?
Firstly, investors need a residence visa. Once acquired, in the first year, they can opt for the residence permit. Then, in order to obtain long-term residence or nationality, they must reside for five years continuously.
What does the residence visa for investors allow?
It allows you to live legally in Spain for at least one year. The authorization is processed in diplomatic missions and Spanish consulate offices. Visa applications will be processed and notified within 10 working days.
Important aspects to keep in mind
Investors should ensure that they receive the best information and advice about property, taxes and laws on what they are investing in. A relatively small expense can go a long way.
A good advisor can help you avoid any problems when investing. For example, investors should consider the value added tax system for buying property, real estate tax, or corporate tax in Spain.
Finally, it is essential to be well-informed about the policies and requirements of Spain in order not to make mistakes. This can be a safe and positive way to go to this beautiful place.