Written by Josep Conesa
Labor and bankruptcy lawyer
The Law 14/2013, from 27 of September, for helping entrepreneurs and internationalization, article 61 and following, created what is better known as the Golden Visa that gives to foreigners a licence to live and work within Europe territory, and some other territories such Switzerland, Norway or Ireland.
Contact with our tieam if you need any help related to the property purchase, health insurance, bank account procedures, etc.
How long will last my golden visa in spain?
Golden visa residency will least 2 years. Once this period has finished can be renewed for 5 additional years. The investment cant change, but it will be necessary to prove it is still remaining when applying for renewal.
If investment still is not done the investor can apply for visa for one year till the purchase has been done and then apply for residence permit.
The expat must demonstrate that still has ownership of the asset that was the object of investment.
Additionally, must have visited Spain at least once during the year.
After 10 years of residing legally in Spain, the investor will be eligible for Spanish citizenship.
Where I can move in europe througouth spanish golden visa:
Golden Visa in Spain gives right to free movements to all Schengen territory. See at the map all member countries of this Treaty:
Link to check Shengen Visa Info
does spanish golden visa give right to work?
- With the visa and residence permit, you may live and work anywhere in Spain, including relatives.
Does golden visa obligates to stay for long periods in Spain?
With Golden Visa, rather other visa licenses, allows the applicant and his families to stay outside Spanish territory for almost all its validity without losing the permit. Therefore the applicant can travel all over Europe and non Europe territories during its validity even for tourist or business purposes.
There also no need to apply for Schengen Visa each time entering to Europe with means the possibility to avoid Embassy and Consulate applications for visas.
MAY RELATED FAMILY BENEFIT FROM spanish GOLDEN VISA:
Families from Golden Visa applicant can benefit from residence in Spain (article 62.4 Ley 14/2013):
- The spouse or person with an analogous emotional relationship, are able to benefit from residence and work permit.
- The minor, and also older children major than 18 years who, economically dependent on the owner, have not constituted a family unit by themselves, are able to benefit from residence and work permit.
- Dependent ascendants, older than 65 years old, who meet or accompany the foreigners applying for golden visa, are also able to benefit from residence and work permit.
This benefits are quite better than any other visa residence in Spain that would make wait families for more than one year to grant the opportunity to applicant to gather family together within Spanish territory.
Can I apply for nationality after Spanish Golden Visa?
Golden Visa citizens may apply for nationality according to article 22.1 of the Spanish Civil Code.
If citizen is form Latin America they can opt after two years of Golden Visa validity. Other way nationality needs 10 years with effective residence in Spain.
Ask to our expert immigration lawyer through the following link:
Link to Expertos en Nacionalidad en España y arraigo social
WHO CAN apply FOR GOLDEN VISA IN SPAIN:
- Investers
- Enterpreneurs.
- Hight qualificated profesionals
- Investigators
- Employees that moves within the company or to others form the from same group.
It is not necessary the applicant would be physically in Spain when applying for the golden visa. The applying may designate a representative.
general requisits for golden visa in spain:
- Not being in a irregularly statement in Spanish territory. That means you can enter as a tourist, make the investment and apply for the golden visa. But you can't apply after the 90 days tourist visa timeline.
- Being over 18 years of age.
- Not having criminal records in Spain and in the countries where they have resided during the last five years (for crimes provided for in the Spanish legal system).
- Not appearing as objectionable in the territorial space of countries with which Spain has signed an agreement in this regard.
- Having public insurance or private health insurance arranged with an insurance company authorized to operate in Spain.
- Having enough financial resources for themselves and for their family members during their period of residence in Spain.
- Paying the tax fee for processing the authorization or visa.
requisits for golden visa in spain:
- Valid passport.
- Health insurance documents issued by a company operating in Spain.
- Background checks.
- Proof of sufficient resources.
- Documents providing proof of the investment. And depending on the kind of investment.
- Public debt: certificate from the financial institution or the Bank of Spain.
- Unlisted shares and equity: statement of investment filed with the Investments Register of the Directorate-General for International Trade and Investments (DGCOMINVER)
- Listed shares: document from a financial broker registered with the National Securities Market Commission (CNMV) or the Bank of Spain
- Investment funds: certificate from the fund manager.
- Bank deposits: certificate from the financial institution.
- Property: certificate of property registration and real estate purchase deeds.
- If the purchase is not formalized: engagement contract formalized in public deed.
- Business project: a favourable report from the DGCOMINVER.
How much investment must be done for spanish golden visa:
- Public debt: Investing 2 million euros or higher at Spanish public debt.
- Unlisted shares and equity: Investing 1 million euros or higher at shares from Spanish companies.
- Bank deposits: Investing 1 million euros or higher at Spanish Banks or Financial entities' deposits
- Property: Purchasing real state of a 500.000 euros value, or higher.
- Business project: With a business investment that would be developed in Spain and would be considered and proved as a national interest project, with the following conditions:
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creating jobs
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investing with social and economical importance where geographically the activity would performed.
- would bring scientific and technological innovation
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when and how should I proceed with the application of a Golden Visa in Spain or from abroad
HOW LONG DOES IT TAKE TO GET THE SPANISH GOLDEN VISA?
- First step: We can be your enforced advisory for the investment, but if you are the one who will personally do the purchase you have to be on a regular situation in Spain. That is to say you can enter to Spain with a tourist visa (90 days) or, if needed, apply for Schengen Visa from abroad because of nationality, which should be made and notified within 10 working days.
- Second step: Residence permit application should be decided and made within 20 working days.
There is positive silence if there is no resolution.
The application for residence permits and renewals extend the validity of the stay or residence status of the applicant until the procedure is terminated.
VISA PROCEEDING IF BEING OUTSIDE SPAIN AND APPLING FROM ABROAD:
- In case being outside Spain, and with necessity to Schengen Visa to enter to any of Schengen countries, is mandatory to obtain visa at the Spanish Consulate or Embassy, which visa resolution should be given in 10 days term (rather than 15 which is the regular term for Schengen visas).
- In case being also outside in Spain, but not needing Schengen visa, is more likely to apply from Spain though our expats and immigration expert lawyers.
Permit OF RESIDENCE authoritzation IF BEING IN SPAIN AND APPLING FORM SPAIN:
- If purchase has been totally done and it can be proved then the investor can apply directly for the permit of residence.
- The permit for the inversion in Spain is enrolled in front of the Unidad de Grandes Empresas y Colectivos Estratégicos (UGE-CE) and it is the Ministery of Immigration who authorises it. But this enrolment can and should be done online from all over Spain. So we can help clients to set up the application no mattering where client or investment is from.
- Resolution from public authority should be given in 20 days, and if there is no resolution it can be understood, by law, estimated, because of positive silence rule of law. If not estimated there is possibility to appeal.
when should I apply for the golden visa:
Applications must be done 365 days after the purchase, in done, and if not been done it has to be done no later than 6 months after the pre-purchase contract settlement done by deposit pre-payment contract (arras in Spain) or by other ways of purchase or pre-purchase done by Public Notary Deed.
how works REAL STATE GOLDEN VISA in spain:
purchase real state certificaton:
The Golden Visa applicant has to certificate real state purchase through Public Propriety Register certificate of the purchased property that will contain the price, or through the public Notary deed.
MINIMUM INVESTMENT IN REAL STATE FOR GODEN VISA
Invested amount in Real State for Golden Visa in Spain must be 500.000€ net, and it can can be through one or several proprieties.
By saying net it means that if property is new or first hand the buyer may pay VAT generally (rather that it is second hand), and it also means that there is till 10% Transmission Tax depending the region where the purchase is done.
Then, with no VAT, total cost of the investment will be 550k in Barcelona, for instance, and 560k in Madrid.
How and when should be done the Real State investment for the Spanish Golden Visa:
- The investment can be done through several properties, and the applicant can be he buyer alone or with other buyers (and then there can be granted several Golden Visas if each investor is up to 500k)
- It is also meant to say that the 500k investment should be done in Real State free of charge or liens till that amount.
- The investment should be done no more than one year before the application.
Which kind of Real State investment may I do for Golden Visa
- Lands, buildings, roads and constructions of all kind added to Spanish soil.
- Trees, plants and pending fruits added to soil or integrates to the the real state property.
- All added and fixed to real state that would loose value if separating it from real that real state property.
- Statues, reliefs, paintings or other objects of use or ornamentation, placed in buildings or estates by the owner of the property in such a way as to reveal the purpose of permanently joining them to the estate.
- The machines, glasses, instruments or utensils destined by the owner of the farm to the industry or exploitation that is carried out in a building or estate, and that directly meet the needs of the exploitation itself.
- Nurseries for animals, lofts, hives, fish ponds or similar hatcheries, when the owner has placed or conserves them for the purpose of keeping them attached to the farm, and forming part of it in a permanent way.
- Fertilizers intended for the cultivation of an inheritance, which are on the land where they are to be used
- Mines, quarries and slag, while their matter remains attached to the deposit, and living or stagnant waters
- The dikes and constructions that, even when they are floating, are destined for their purpose and conditions to remain in a fixed point of a river, lake or coast
- Administrative concessions for public works and easements and other real rights over real estate
All info about Spanish Golden Visa:
You can check all info at the Spanish Immigration Office through this link
Expert immigration lawyer help for Golden Visa:
At our legal firm we deal with Immigration, Real State, Investments, Taxes, etc. but most important of all we deal with people and we know what is to be new at a new city. Contact us if interested in a legal and quality service through our legal specialists and lawyers:
