What is a Golden Visa?
The law 14/2013, of the 27nd of September, supporting enterprising and its internationalization, introduces in Spain a new type of visa and residence permit for investors known as Golden Visa.
The essential purpose of this measure is to facilitate foreign investments in Spain made by foreigners who are not citizen of the European Union, through an agile and flexible method focused to those who have the consideration of investors in his legal concept, enterprising, high qualified professionals or workers who execute transactions within the same company.
The essential purpose of this measure is to facilitate foreign investments in Spain made by foreigners who are not citizen of the European Union, through an agile and flexible method focused to those who have the consideration of investors in his legal concept, enterprising, high qualified professionals or workers who execute transactions within the same company.
Benefits of a Golden Visa
- Immediate visa for one year renewable for two years with subsequent renovations for five years.
- Travel freely within the 26 countries in the Schengen area - Spain, France, Germany, Austria, Belgium, Denmark, Estonia, Finland, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Czech Republic, Liechtenstein, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovenia, Slovakia, Sweden and Switzerland.
- All properties are freehold.
- Property prices could be up to 40% lower than the market price in 2007.
- Together with the investor, his spouse, children under 18 years or dependent adults due to health reasons can request the visa.
- Children under 18 can receive 12 years free education at the local public schools.
- New born baby in Spain could apply for Spanish passport after one year.
- A minimum residence period in Spain of 183 days is not required for the renewal of permit (the permit holder can maintain his fiscal address out of Spain).
- Enjoy a residence in a European country, with a great appeal, stability, security and quality of life.
Types of Golden Visa
The different types of investment included in law as way to obtain the stay and residence visa form a group about the concept of significant investment, considering as significant those which fulfill any of the following assumptions:
a) An investment equal or higher than 2 million of Euros in Spanish public debt titles.
b) With aim of shares acquisition of Spanish companies, or bank deposits in Spanish financial entities, for an amount equal or higher than one million Euros.
c) Consisting in the acquisition of real estate asset valued in 500.000 Euros or higher.d) With purpose of developing a business project in Spain considered and confirmed being of general interest due to fulfil one of the following requirements: creation of work positions; realization of an investment with a relevant socioeconomic impact; relevant contribution to the scientific and/or techno-logic innovation. In case of being realized by a legal entity, it cannot have its registered address in a tax haven and the petitioner should have the majority of the votes.
This last assumption is considered by law as a different type of significant investment due to its amount, since the visa obtaining is determine by social importance reasons or other economic benefits not financially valued in money or capital. Also are included within this range the professional highly qualified and those who realize transactions within the same company.
a) An investment equal or higher than 2 million of Euros in Spanish public debt titles.
b) With aim of shares acquisition of Spanish companies, or bank deposits in Spanish financial entities, for an amount equal or higher than one million Euros.
c) Consisting in the acquisition of real estate asset valued in 500.000 Euros or higher.d) With purpose of developing a business project in Spain considered and confirmed being of general interest due to fulfil one of the following requirements: creation of work positions; realization of an investment with a relevant socioeconomic impact; relevant contribution to the scientific and/or techno-logic innovation. In case of being realized by a legal entity, it cannot have its registered address in a tax haven and the petitioner should have the majority of the votes.
This last assumption is considered by law as a different type of significant investment due to its amount, since the visa obtaining is determine by social importance reasons or other economic benefits not financially valued in money or capital. Also are included within this range the professional highly qualified and those who realize transactions within the same company.