How to get the Golden Visa in Spain?

How to get the Golden Visa in Spain?

Hello Homes SitgesWritten by Hello Homes Sitges|Updated: 15-01-2025 |0 Comments

GOLDEN VISA

🚨 LATEST NEWS
The Spanish government has officially announced the end of the Golden Visa program. Applications will only be accepted until April 3, 2025.🚨

What is the Spanish Golden Visa ?
The Spanish Golden Visa Program, or the Spanish Investor Residency, represents a special type of residency permit designed for citizens of countries outside the European Union who wish to make a significant investment in Spain for the purpose of relocating and obtaining residency.
This residence permit allows you to reside and work in Spain initially for a period of 3 years, with the possibility of renewal for an additional period of 5 years, provided that the initial investment is maintained or it is demonstrated that the applicant continues to maintain investments and assets in Spain.

How to materialize the investment?

  • Acquisition of real estate (the main form of investment), i.e. purchasing one or more properties for a minimum value of €500,000.00.
  • Other forms of investment accepted:
  1. Buying shares in a Spanish company, or having a bank deposit in a Spanish entity worth more than 1 million euros. This will also give you access to this residence permit.
  2. Invest in Spanish public debt worth 2 million euros or more.
  3. Investing in a business project to be developed in Spain. The main requirements for this option are that the project must generate employment, imply a boost to the scientific/technological advancement of the country or result in a minimal socioeconomic impact.

The process to obtain the GOLDEN VISA

The process to obtain the GOLDEN VISA is straightforward and uncomplicated, unlike most Spanish residence permits for non-Europeans, which have long and complicated procedures.
Furthermore, due to its characteristics, Spain can undoubtedly be your best option due to its real estate market, in which HELLO HOMES has extensive experience and will advise you with the utmost professionalism, and everything that the country has to offer (lifestyle, climate, gastronomy, etc.).
With residency by investment, one can travel freely within the European Union, so if one applies for a residence permit in Spain, one can explore the rest of Europe without worries.

Who can apply for a Golden Visa?

This permit can be requested and processed by all persons who are NOT citizens of the European Union, including citizens of the United Kingdom who, following Brexit, have lost the advantages of belonging to the EU.
In addition, the applicant must meet the following requirements:
  • Be of legal age (18 years or older in Spain)
  • Not having a criminal record, either in Spain or in any other country where you have resided in the last 5 years.
  • Have full health coverage in Spain. This can be obtained through public or private insurance. Travel insurance or insurance from your home country will not be valid here.
  • Demonstrate possession of sufficient financial means for the maintenance of both the main investor and his family (if he also included his family members in his joint application for residence)
  • Make the investment (either €500,000, €1 million or €2 million, depending on the option chosen) and provide the corresponding document to prove it.
Golden Visa

What is the procedure to obtain residency via GOLDEN VISA?

The process to obtain the GOLDEN VISA is divided into two phases:
1. First of all, you will have to decide on one or more investment avenues and carry out the investment itself.
  1. First of all, a NIE is required for non-residents; the NIE is an identification number assigned to any foreigner who wants to carry out any legal process or economic transaction in the country. This number can be requested from the investor's country (at the Spanish embassy in the country of origin) or directly in Spain if the investor is in the national territory with a tourist visa or any other type of visa.
  2. Identify and analyze the investment to be made and that it meets the conditions.
  3. Make the actual investment.
2. Once the investment has been made, the authorisation process for said investment will be carried out. In other words, the documentation that accredits the investment is presented to the competent authority in order to request the benefits of an investor in Spain, that is, mainly residence. The administration has a period of 20 days to issue the resolution unless additional documentation is requested during said period. If the resolution is favourable, the next phase of the procedure will be followed, which is the application for the residence permit as an investor. If it is denied, an appeal may be lodged challenging the administration's reasoning and providing additional documentation. If the investment has been made correctly and the required additional documentation has been provided, a favourable resolution will always be issued.
3. Apply for a residence permit as an investor for the investor and, where applicable, his/her family.
  1. 3.1. Applying for a residence permit from the investor's country of origin:
    • Request permission at the Spanish Consulate or Embassy in the investor's country.
    • Once the application has been approved, a 1-year visa (6 months in the case of property acquisition through a deposit contract) will be granted to live and work in Spain.
    • With the initial visa, the investor can travel to Spain.
    • In Spain, a residence permit must be requested after the first year (the visa will be converted into a residence permit) and fingerprints must be registered at a police station. A TIE (Foreigner Identity Card) will be issued, which will grant a 3-year residence permit in the country. This permit can then be renewed for 5 years (as long as the investment is maintained) and subsequently, if applicable, nationality can be requested.
  2. 3.2. The second option would be to apply for the permit directly from Spain:
    • First of all, the investor must enter Spain as a tourist (depending on the country of origin, a tourist visa may need to be requested first)
    • The application will then be submitted through the UGE, the Large Companies and Strategic Groups Unit.
    • Once the application has been approved, the TIE or residence card will be requested. After taking fingerprints at a police station, a 3-year residence permit will be granted in the country, which in turn can be renewed for 5 years (as long as the investment is maintained) and later, if applicable, nationality can be requested.

Benefits of the Golden Visa

Main benefits of the investor visa in Spain:
  • Streamlined bureaucratic process (one month to obtain authorization) and clear in terms of documentation and steps to follow.
  • It not only allows you to live in the national territory, but also to work. Therefore, the residence derived from the investment is an alternative means to obtain a work permit with which to carry out your own projects (be a partner in a Spanish or international company with a subsidiary in Spain, set up your own business structure in Spanish or European Union territory) or work for a company.
  • It is the only residence permit that grants an initial authorization to live and work in the country for 3 years (the rest only offer 1).
  • The GOLDEN VISA only requires the applicant to travel to the country once a year. This means that the investor can avoid, if he so wishes, becoming a tax resident in Spain (therefore there may be tax savings).
  • It also allows complete freedom of movement within the Schengen area, meaning travel to most countries in the European Union.
  • It allows the investor's family to be easily brought to Spain. The main investor may apply for residency for his or her partner or children through a joint application, provided that he or she can prove sufficient financial capacity. This is the perfect option for families who wish to start living in Spain. It is important to note that for children, it is essential that they are under 21 years of age, that they are studying or that they are financially dependent on the main investor.
  • To apply for the GOLDEN VISA, it is not necessary for the applicant to do so physically in Spain or to process everything in person. It is possible to appoint a representative to collect the relevant documentation.

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