Spain launched the Golden Visa program in 2013 to support entrepreneurs and internationalisation.
The main objective of this program is to stimulate the Spanish economy, create jobs and, naturally, favour the entry of new foreign talent to attract with the immediate granting of nationality and all its benefits.
The aim of this article is to provide information on how to obtain the golden visa for Spain and apply for the Spanish residency card.
What is the residence by investment program in Spain like?
The golden visa program for Spain allows you to earn Spanish nationality by making different investments:
– Investing a minimum of 500,000 euros in Spanish real estate (without a mortgage).
– Investing 2 million euros in Spanish public debt.
– Invest 1 million euros in Spanish companies (shares).
– Deposit 1 million euros in a Spanish bank account.
– Start a business project in Spain of general interest. Such projects must increase employment in a specific socio-demographic area, favour technological and/or scientific innovation or have a strong socio-economic impact on a local area of the country.
On the other hand, the Golden Visa has other very specific formal requirements:
– Be over 18 years of age.
– Have public or private health insurance from a company operating in Spain.
– Have sufficient financial means, covering personal and family expenses, to reside in Spain.
– Not have been refused entry to any of the Schengen countries.
– Not have entered or stayed illegally in Spanish territory.
– Not to have a criminal record in Spain, nor in the country of residence during the last 5 years.
Therefore, in addition to the investment itself, the investor must meet a specific profile:
– Be an investor.
– Be an entrepreneur.
– Be a highly qualified professional.
– Be a researcher.
– Be an employee who moves within the same company or group of companies.
How to obtain Spanish residency for investment
Once the above requirements have been met, it is time to present the documentation that supports the granting of nationality.
It is important to note that the processing of this visa is not subject to the general immigration regime, but to the Entrepreneurs Law, whose main objective is to attract talent and investment to Spanish territory.
Consequently, the application and processing is not carried out by the Immigration Office, but by the Large Companies Unit.
What documents are required?
– Certificate of ownership and encumbrances from the Land Registry and the deeds of the property acquired, in the case of investors in the real estate market.
– Declaration of the investment issued by the Investment Register of the Ministry of Economy (shares) or the certificate of the financial intermediary registered with the National Securities Market Commission (shares), in the case of investment in shares.
– Certificate issued by the Bank of Spain or the entity through which the investment in Spanish public debt was made.
– Certificate reflecting our ownership of the deposit made, if you have chosen to invest in bank deposits.
The benefits of the Golden Visa
The benefits are many and varied:
– Firstly, it grants entry into the EU (Schengen area).
– Both the applicant and his or her spouse or partner, minor or adult children who are financially dependent on him or her, as well as relatives in the ascending line.
– A prolonged stay is not necessary, it is enough to be in Spain once a year to keep the permit valid.
– It is valid for 10 years. Renewal is for periods of 5 years if the conditions are still met.
– The right to work as an employer or employee is obtained.
– After ten years you can apply for Spanish nationality.
