Golden Visa for Spain | What is it?

Individuals can live, work and invest in Spain for residency if they have a "golden visa." The Golden Visa program was approved in Spain in 2013. A similar visa program is currently in effect in other nations, including Malta, the UK, and Portugal. In addition, the Spanish citizenship by investment program aims to draw in foreign investors who want to purchase homes or other real estate assets in exchange for making it simpler to get a residence permit in Spain.

Conditions to Obtain a Spanish Investor Visa

Foreigners who can make a sizable capital investment may apply for an investor visa. It is granted to those who can invest in a commercial venture that is deemed to be of public interest in Spain because of its potential to

• generate jobs
• have a substantial socioeconomic influence in the region in which it will be implemented
• or significantly advance science or technology.

In this scenario, a representative chosen by the investor to oversee the project may also receive the visa. Legal investors will be approved as long as they are not tax havens. Additionally, the investor must possess, directly or indirectly, the majority of voting rights and the authority to select or remove the majority of the board of directors.

Applicants can also purchase a Spanish property requiring an investment of at least five hundred thousand euros. Thereon, if individuals stay in Spain for at least ten years, the Investor Visa offers a route to citizenship.

Although the procedure for becoming a Spanish resident through investment is quite simple, for the Spain golden visa, individuals must dwell in the country for at least six months each year for ten years before applying for a passport in Spain. To obtain Spanish citizenship, there are additional requirements. Applicants should be able to demonstrate proficiency in Spanish and prove national affiliation.

Documents Needed for a Golden Visa to Spain

Before applying for a Spanish Golden visa or residence permit, a business project must offer a favorable outcome. The documents to be submitted for issuance are as follows:

• Request for Form for Business Project Report.
• A copy of the Passport or National Identification Card. 

The supporting document allowing the representative to submit the paperwork on behalf of the applicant, along with the representative’s national identity card or passport, should also be attached if the applicant does not apply.

 An applicant must submit the following documents for the investor visa for Spain:

• Duly completed application for the visa
• Proof of Finance resources
• Certificate for a criminal background check
• Health coverage
• Evidence of the representative’s legitimacy and identity
• Evidence of residence inside the consular district
• A recent passport-size color photo.
• An up-to-date, valid passport
• Visa fee receipt

Additionally, applicants must submit the original and a photocopy of the passport page(s) containing the biometric information. The passport must have two blank pages and a minimum validity of one year. The government will not accept passports that are older than ten years. 

During the visa processing, applicants must leave their passports at the Embassy of Spain or a Consulate. The Spanish Embassy or a Consulate retains the applicant’s passport until the process is complete and posted back to the owner. Along with their visa application materials, applicants must send a pre-paid envelope with their address and full name to the embassy or the consulate.

 The following documents, both in original form and in copy, are also required for the investor visa ( popularly known as Spanish property visa) are as follows:

• Investment in public debt
• Investment in shares and unquoted stocks
• Investment in real estate
• Investment in a business project

Foreign documents must be apostilled or legalized and, if necessary, provided with an official translation into Spanish for investments made through legal entities.

Who Qualifies for a Visa for Investors in Spain

Non-EU nationals making a real estate investment of at least 500,000 euros in Spain are eligible for the so-called "Golden Visa," a residence permit. Simply put, anyone who has spent more than €500,000 on real estate without taking out a mortgage, as well as those who have deposited €1,000,000 in a Spanish bank or invested €1,000,000 in shares, are eligible to apply.

Benefits of a Spain Golden Visa

One of the most significant advantages of the Spanish gold visa is preferential treatment. With this visa, applicants can obtain a residence permit quickly, both for the initial grant, valid for a year, and processing renewals every two years. Additionally, the resident permit obtained via the Golden Visa for Spain permits unrestricted travel to the remaining twenty-six European nations in the Schengen region.

One of the primary justifications for processing the visa for real estate investment is freedom of movement. But there’s more—the Golden Visa also increases visa flexibility for the investor’s spouse, minor children, and access to public schools, in addition to the investor himself. In addition, at the end of the year, children born in Spain are eligible to apply for Spanish passports without having to fulfill any additional conditions.

How Long Is a Spain Golden Visa Valid For?

The Spain Golden Visa will be valid for an entire year once an applicant has picked it up at the embassy. After that, applicants must travel to Spain to exchange the visa for a two-year residence permit.

The residence permit can be extended indefinitely without any stay conditions if an applicant maintains investment. However, each time the residence permit needs to be renewed, they must go to Spain. After five years of continuous stay for at least six months out of the year, they may apply for permanent residence if they intend to dwell in Spain genuinely.

After receiving their Spanish visa for entrepreneurs, the investor will have two years to live legally in the country. Once this temporary period has passed, the applicant may ask for a renewal, allowing them to remain in Spain for an additional five years legally. A word of caution is that such individuals in question must demonstrate that they still possess the asset that was the subject of the investment, whether it was a piece of real estate, stock, or government debt.

Moreover, visa holders must also travel to Spain at least once yearly. Finally, remember that at the end of the day, one of the various options for obtaining Spanish citizenship is the Spanish golden visa.

Investments Permitted With a Golden Visa for Spain

A minimum initial investment of 2 million euros in Spanish government debt securities is required. Investment of 1 million euros can be in the form of:

• shares and stocks of Spanish companies engaged in legitimate business operations
• investment or venture capital funds incorporated in Spain
• bank deposits in Spanish financial institutions

 If a married couple invests in unencumbered real estate for a minimum of five hundred thousand euros, one of the spouses may acquire a Spanish investor visa, and the other spouse may obtain a visa as the investor’s family member.

Can a Potential Investor Obtain a Spain Golden Visa without Investing in Real Estate?

Other than real estate, potential Investors can also invest in the following:

Transfer of Capital

Applicants can invest in Spanish Treasury Bonds to make the most of the country’s Golden Visa program. The applicants may quite like this alternative due to the stability of these bonds’ finances. (The Spanish government backs Treasury Bonds). Moreover, it is an essentially risk-free investment option that offers competitive returns.

This option has a €1 million minimum investment requirement. Otherwise, they can deposit a minimum of €1 million in a Spanish financial institution’s bank account or buy shares of Spanish companies.

Spanish Business Development

This route to residency in Spain through investment has a more overt goal of assisting the Spanish economy. If applicants take this route, they should be able to fulfill the following requirements: 

• Create jobs
• Make an investment that will benefit Spain’s socioeconomic situation
• Encourage scientific and technological advancements. (This option requires a minimum investment of €1 million.)

After that, applicants will have no trouble renewing their resident permit if they keep up their investment and go to Spain at least once yearly.

Conclusion

The Golden Visa for Spain has gained significant popularity among global investors and entrepreneurs. The Spain visa for entrepreneurs offers a unique opportunity for individuals seeking to invest and establish a business presence there. One of the primary ways to obtain Spanish residency is through property purchase, as investors can buy property in Spain for investment visa purposes.

This investment method has proven popular, with many individuals acquiring Spanish residency through property purchases. In addition, the Spain Golden Visa also offers several tax benefits, making it an attractive option for investors seeking to optimize their tax situation. Additionally, the Spain investor visa real estate market has experienced growth due to the increased interest in the program.

The Golden Visa Spain processing time is generally quite efficient, allowing investors to obtain their residency permits promptly. Furthermore, the Spain business investment visa provides an excellent opportunity for entrepreneurs to expand their ventures within the European market. Overall, the Golden Visa for Spain has proven to be an attractive option for investors and entrepreneurs, offering numerous benefits and opportunities for growth and success in the European market.