It is a new type of residence visa, established by the Law 14/2013, of the 27th of September, aimed at those non-resident foreigners who want to enter the Spanish territory in order to realize a significant capital investment.
Which are the types of golden visa?
The law distinguishes two big groups. The capital investments (in public debt, social shares of Spanish companies, bank deposits in Spanish financial entities and through the acquisition of real estate assets) and other kind of investments (creation of a company of general interest, high qualified professionals and transactions within the same company).
Does the golden visa authorize me to circulate freely within the Schengen area?
Yes. The investor’s visa authorizes to circulate freely within the “Schengen” area (Spain, France, Germany, Austria, Belgium, Denmark, Estonia, Finland, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Czech Republic, Liechtenstein, Luxemburg, Malta, Netherlands, Norway, Poland, Portugal, Slovenia, Slovakia, Sweden and Switzerland).
Can I keep my tax residence outside Spain?
Yes. The holder of the permit can keep his tax residence outside Spain, as long as he stays in our country for a period less than 183 days per year. Also, the residence permit can be renewed even with absences longer than six months per year.
How long can I stay in Spain with my golden visa?
The residence visa for investors authorizes to stay in Spain during one year. Once expired this period, it can be requested a residence authorization for a period of two years, renewable for two years more if you prove the maintenance of the investment.
Does the Golden Visa authorize me to work?
Yes. The Golden Visa authorizes to live and work in Spain. This results from the Fourth Additional Provision of the Law, which states a single proceeding to request a permit authorizing to live and work.
Does the proceeding to obtain the residence be reduced?
Yes. The visa applications will be solved and notified in a period of ten working days, while the maximum period to solve the residence authorizations are 20 days since the submission of the application, with a positive administrative silence.
The 500.000 euros are per petitioner or per application?
Per petitioner, but he can also include his companion relatives, who can jointly and simultaneously or successively request the authorization and, in case, the visa. Nevertheless, they have to fulfil the general requirements and prove the relationship bond through their corresponding certificates.
Who have the consideration of companion relatives in order to request the investor visa?
The position as relatives will be considered for the spouse and the children less than 18 years or of legal age that are not objectively able to provide their own necessities due to their health condition.
Can I buy more than one property?
Yes. The reference of real estate assets made by the law does not mean only one property, and not only one type of property. Now then, the investment has to be realized before requesting the visa.
Should be realized an investment free of charges and encumbrances?
Yes. In the assumption of acquisition of real estate assets, the petitioner should prove his capacity of realize an investment of 500.000 euros free of any charge and encumbrance. Nevertheless, the amount that exceeds for the required figure can be subject to charges or encumbrances.
At the termination of the maximum period of five years, can I request the long-term residence?
It can be requested, but will not be granted automatically at the termination of the investors permit. In this case, it should be prove the continuity of the residence in Spain for the acquisition of the long-term residence.
What requirements do I have to comply to access the long-term residency?
In order to access the long term residency, it is required that the person from abroad has lived legal and effectively in Spain for five years. That the residency is effective means that the periods lived out of Spanish Territory must be less than six consecutive months and not exceed a total of ten months during the said five years.
Does the time period of legal residency in Spain count at the time of requesting the nationality?
Yes. The time lived in Spain legally will count to request the long-term residency and also the nationality.
Can I opt to continue renovating the residence permit for each investor every two years indefinitely?
Yes, however with certain clarifications. The residence authorization for investors must have an initial duration of two years, after which the permit can be renovated every two years indefinitely in the case that the investment and the rest of requirements are complied.
Can I access directly to the residence authorization for two years without having to obtain an investors authorization?
No, it is necessary to have the investors authorization which is valid for one year. During this year, the residence authorization can be requested at any moment without having to wait to complete the year.
Does the Law 14/2004, of the 27th September have retroactive character?
No. The Law is only applicable to the investments carried out from the 29th September 2013 onwards, date when the law entered into force, as it is states in the thirteenth final disposition of the same.