There are several alternatives to live legally in Spain. However, the best one is known as the Golden Visa or Investor Residence, not only because of its quick application process, but also because of all the benefits that this residence brings with it.
Now, Spain has one of the best immigration policies in Europe. Its purpose is to allow foreigners who decide to change their country of residence to become full members of this Spanish society. For this reason, the foundation of the Spanish immigration policy is established in a very complete and consolidated legal framework. In that sense, this is a residence that was born with the Law of Support for Entrepreneurs and their Internationalization (Law 14/2013, of September 27), whose objective is to provide non-EU citizens who can make a significant investment in Spain, a great opportunity to legally reside in the country, as well as travelling throughout the
Schengen area.
It’s important to note that in order to apply for the Golden Visa, it will be essential for the interested party to prove of one of the following investments:
An investment of €500,000 in the acquisition of real estate, always free of charges and taxes.
An investment of €1,000,000 by bank deposit directed to a Spanish account.
An investment of €1,000,000 in the acquisition of shares in Spanish companies or investment funds.
An investment of €2,000,000 in the acquisition of Spanish bonds or public debt.
The execution of a business project, which is considered of general interest for Spain which creates jobs.
In addition to the above, it will be necessary to comply with the rest of the requirements demanded by the Administration, among them they are:
Not being found irregularly in Spanish territory.
Be over 18 years of age.
Have no criminal record in Spain and in the countries where you have resided for the last 5 years, for crimes provided for in the Spanish legal system.
Not to appear as objectionable in the territorial space of countries with which Spain has signed an agreement in this regard.
Have a private health insurance arranged with an insurance company authorized to operate in Spain.
Have sufficient financial resources for themselves and their family during their period of residence in Spain.
Pay the fee for processing the visa or the investment residence authorization.
Once all requirements have been met, the Golden Visa application can be submitted to the competent bodies, which must be resolve in a significantly short time, 10 workings days if the application form is outside of Spain and 20 days if the request is made within the country. In addition, if it is resolved after said deadlines, by law the request will be deemed estimated by administrative silence. But what does this mean?
That is, if the administration does not resolve the request within that period, it will be understood that the residence has been granted, with no possibility that it can be denied.
In addition to its speed in terms of processing deadlines, this residence stands out among the others, as the applicants can enjoy the following benefits:
Obtaining does not require an effective residence in Spain, understood as that of more than 183 days. It’s only required to visit Spain once during the period of residence.
It allows both the applicant and their family members to reside and work throughout the Spanish territory.
You are free to move to other countries, inside and outside the European Union.
Joint processing of the authorization of the spouse and children.
The duration of the initial authorization is 2 years, and its renewal will be for successive periods of 5 years.
It should be noted that this is one of the visas with the highest concession rate, considering that since its launch in 2013, to date, according to data issued by the Ministry of Inclusion, Social Security and Migrations, they have granted in Spain more than 24,500 Golden Visa, leaving an average per year of 3,500 concessions. Hence, this is one of the most prominent and recommended residence permits for those who want to invest in Spain and in its future.
However, it is extremely important that in order to correctly apply and comply with all the requirements in the application process for this residence, adequate advice is available. In this sense, the entire TROIS & LAW team remains at your complete disposal to provide the best advice on investment matters, as well as in the area of foreigners to carry out the corresponding procedures in order to obtain tis authorization of investment residence.
If you are interested in obtaining a Golden Visa, contact us at asesores@troislaaw.com
Valentina Sierraalta