Golden Visa in Spain: Everything You Need to Know

The most common procedures for legally moving to Spain are obtaining a work permit, student visa, visa at your own expense (without the right to work), etc. But often, when obtaining them, it is necessary to overcome paperwork: a lot of documents, standards, and requirements. You can also obtain Spain citizenship by investment.

That is why the Golden Visa, especially in recent years, has gained such popularity. What is its main advantage? Simplicity. You invest in Spain and instantly receive a residence permit. If you are still in doubt, this article will provide you with all the information you need about the Spanish investor visa. Let’s get started!

What Is a Golden Visa? Basic Concepts

The Golden Visa program is a special residence permit for citizens of countries outside the European Union who wish to reside in Spain.

Most residence permits for non-European citizens involve going through complex procedures: collecting a package of documents, overcoming bureaucracy, stringent requirements … Therefore, the procedure for obtaining an investor visa in Europe is constantly gaining popularity.

For what reason? Due to the simplicity of the procedure and the speed of obtaining the result.

According to the El País newspaper, Spain has established itself as a favored country for the Golden Visa. These data are striking: out of almost 6,000 residence permits issued in our country in 2018, about 600 were Golden Visas. It is important to understand that the number of issued Golden visas does not stop growing. And there is no doubt that this trend will continue in the long term.

What Are the Advantages of a Golden Visa in Spain?

An investor visa in Spain has the following advantages:

• It allows you to live and work in Spain legally, i.e., a golden visa is a way to obtain a work permit.
• To obtain it, you do not need to be considered a resident in Spain. There is no need to reside in the country for more than 183 days a year. The applicant only has to visit the country at least once a year.
• This visa provides complete freedom of movement throughout the Schengen area, that is, in most countries of the European Union.
• The main applicant (investor) can also apply for a residence permit for a spouse and children. That is why the investor visa is recommended for those who plan to move to Spain with their family.
• The applicant does not need to be in Spain to apply for a Golden Visa. You can appoint a representative to collect the relevant documentation.

How to Obtain an Investor Visa in Spain?

There are several ways to obtain a golden visa in Spain:

• First of all, an investor visa can be obtained by purchasing property worth over €500,000. If the property was purchased by several individuals/investors, it must be borne in mind that the investment will be calculated for each investor on an individual level. This means that if the investor’s share of the property does not reach € 500,000, the golden visa program does not apply to him.
• Secondly, the purchase of shares in a Spanish company or owning a bank deposit in a Spanish bank in the amount of more than one million euros also gives the right to obtain this residence permit.
• Ownership of Spanish public debt in the amount of 2 million euros or more.

Finally, by investing in the development of a business project in Spanish territory. The main requirements for the project are as follows: this project must create new jobs, contribute to the scientific and technological progress of the country, or make a socio-economic contribution. Most Americans have ventured into the Spanish real estate sector to secure this visa. MySpainVisa can help you secure your golden visa in Spain with less hassle.

What Are the Requirements for Obtaining an Investor Visa?

To successfully apply for a Golden Visa, the applicant must meet the following requirements:

• Not a citizen of a European Union state. As already mentioned, this residence permit is for citizens from non-European countries who find it more difficult to obtain a visa in Spain.
• Be of legal age (over 18 years old).
• Have no criminal record either in Spain or in any other country. The accounting period is considered to be the last 5 years.
• Have full health insurance in Spain through public or private insurance.
• Have confirmation of the availability of sufficient financial resources to support both the main investor and his family members (if an application for a residence permit is also submitted for family members).
• Make investments in Spanish real estate (500,000 euros, 1 million euros, or 2 million euros, depending on the type of investment chosen) and provide the corresponding document confirming the investment.

How Long Can You Live in Spain With This Residence Permit?

After obtaining a golden visa, the investor can legally reside in Spain for one year. After this period, the applicant can request a residence permit for two years, which can subsequently be renewed.

To do this, the applicant must confirm that he still owns the assets in the acquisition of which he has invested, whether it be real estate, stocks, or government debt. In addition, you must visit Spain at least once a year.

Do you want to apply for citizenship based on investment? Remember that a golden visa is one of the ways to obtain Spanish citizenship. After 10 years of legal residence in Spain, the investor will be eligible for citizenship.