The Golden Visa in Spain, or “Visado de Oro” in Spanish It is a facility introduced by the Spanish government to attract qualified people with high incomes to the country. One of its variants is real estate investment, and it allows foreign investors to reside legally in Spain.
What is the Golden Visa in Spain?
The Golden Visa is a residence visa for foreigners who make a significant capital investment.
It is ruled by Law 14/2013 and seeks to facilitate the entry and stay of foreigners in Spain for reasons of economic interest.
This visa is an excellent option for investors, entrepreneurs, highly qualified professionals, researchers, and workers who make inter-company movements.
It does not apply to citizens of other countries of the European Union, since they have the right to free movement and residence.
In the end, one of the main advantages of the Golden Visa is that it does not require beneficiaries to reside permanently in Spain, which makes it a flexible and attractive option.
Golden Visa, financial security, and job security in Spain
The Golden Visa is ruled by Law 14/2013. This law facilitates the entry and stay of foreigners in Spain for economic reasons.
This law does not apply to citizens of other countries in the European Union who already have the right to free movement and residence. Foreigners must prove that they are investors, entrepreneurs, highly qualified professionals, researchers, or workers who carry out inter-company movements.
Specific requirements to obtain a Golden Visa
• Not being in an irregular migratory situation in Spanish territory and being over 18 years of age.
• Have no criminal records in Spain or in the countries where they have lived for the last five years.
• Not appear as rejectable in the countries with which Spain has signed an agreement in this regard.
• Have public insurance or private health insurance with a company authorized to operate in Spain.
• Have sufficient financial resources during the period of residence in Spain.
• Make payment of the corresponding fees.
Eligible Investments for a residence visa
The following options will be considered significant capital investments and could apply for a resident visa:
- Investing in the acquisition of real estate worth half a million euros is the most popular option due to its lower capital requirement, the ease of finding a home, and the possibility of hiring a manager to operate the home while it is not occupied.
- From one million euros or more in shares or in social participations of companies with Spanish capital with a real business activity
- You can acquire investment funds for one million euros in closed-end investment funds or venture capital funds set up in Spain.
- The same amount or more in bank deposits in Spanish financial institutions and from two million euros or more in Spanish public debt securities.
- Entrepreneurs or business projects that are going to be developed in Spain and that are considered and accredited as being of general interest, for which aspects such as job creation, making an investment with a relevant socioeconomic impact, or the contribution of scientific innovation and/or technology
Other aspects to know to applying for the Golden Visa
- The request must be submitted no later than 90 days prior to the planned date of travel.
- The validity period of the visa will be 365 days if the purchase has already been formalized, or 6 months if the purchase has not yet been formalized but there is a deposit contract (guarantee of compliance) or other means formalized in a public deed.
- To maintain the visa, there is no obligation to spend a minimum amount of time in Spain.
- The investment must be made in its entirety, without bank financing, and must be maintained throughout the processing process. Obtaining bank financing is part of the subsequent optimization process.
- Investments may be disposed of after obtaining permanent residence.
- The purchased asset can be exploited, remaining as a tax resident outside of Spain.
- The spouse and children who are under 18 years of age or of legal age and who are not objectively capable of providing for their own needs due to their state of health and who join or accompany the visa applicant may apply jointly, simultaneously, or successively for the visa.
Residence authorization and data for the housing investor
The residence authorization can be requested as soon as the residence visa is held and up to 90 days after its expiration.
Its processing will have a maximum term of 20 days from the presentation of the application. This residence authorization will initially be valid for a period of 2 years; however, it may be renewed for successive periods of 5 years, as long as the conditions for which it was granted subsist and long-term residence may be obtained. From that moment on, the investments can be undone.
So, the residence permit allows you to reside and work throughout the national territory.
Lawyers for the Permanent Visa
DFLAT can assist you, and once we know your particular case, we will refer you to the person in charge of visas, financial or local partner, or in your country of origin. If you contact our partner, indicate us as a reference, and they will offer you complete advice.
Information for investors in search of a “property manager”
You can visit our property managers page.