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Frequently Asked Questions about the Golden Visa

Golden Visa is a new form of residence visa, which was established as law 14/2013 on 27th September. It is designed for non-resident foreigners who wish to enter Spanish territory to make significant capital investments.

According to the regulations in force, there are two types of Golden visa:

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• Capital investments, social shares in Spanish companies, bonds, bank deposits in financial institutions, real estate purchase, etc.

• Other forms of investment are those related to the creation of companies of general interest, etc.

The territorial issue with Golden visa

The visa for investors, obtained through Golden visa, allows free trade in the Schengen areas (Spain, France, Germany, Austria, Belgium, Denmark, Estonia, Finland, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, The Czech Republic, Liechtenstein, Luxembourg, Malta, the Netherlands, Norway, Poland, Portugal, Slovenia, Slovakia, Sweden and Switzerland).

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The holder of the Golden Visa system has the possibility of maintaining his or her fiscal residence outside the Spanish geography, with the requirement that they remain in Spain up to 183 days a year. This residence permit may be renewed, even if there are absences that exceed six months per year.

As for the residency in Spain, Golden Visa authorises the applicant to live in the Spanish territory for a year. After this period, a residence permit can be applied for two more years, which is renewable after two years. For this renewal, it will be necessary to prove that the investment in the initial project is maintained.

It is important to note that these residence visas and residence permits are for residing in Spain. If you wish to work here, you must obtain the necessary work permit.

Deadlines and capital investment

The deadline for visa application notification is set at ten business days. For residence permits, the deadline will be 20 days from the time the application is submitted. In the absence of notification, the visa or residence authorisation shall be deemed to have been granted.

At the end of the five years, it is possible to apply for long-term residence, but it will not be granted automatically. It will be necessary to prove that the applicant continues to reside in Spain.

The 500,000 euros capital is not per application, but per applicant.

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Relatives of the applicant

The applicant's family members may also apply for a visa and residence permit, jointly with him or at a later time. To do this, they must comply with the general requirements and prove the connection links, through the corresponding certificates.

The law will take into consideration the applicant's spouse and children under 18 years of age who can not provide for their own needs because of their state of health.

Investments and properties

The law grants the right to buy one or more real estate. The process will be as follows: first make the investment and then apply for the visa.

These investments of 500,000 euros must be free of all charges or encumbrances. In the event that there is a part of the investment that exceeds the amount, this amount may be subject to liens or encumbrances.

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