If you want to know what the Golden Visa is, its benefits and how to apply for one, you're in the right place!
What is the Golden Visa?
The Golden Visa is a permanent residence permit issued to people who invest in the country.
There is no minimum required stay on Spanish land or obligatory physical residence in the country as is the case with other similar programmes.
Holders are given an investors' residence visa (temporary residence permit) for one year. This can be extended to a two-year residence permit, which is renewable for two additional years.
Investors must maintain their investments in Spain and visit the country during their residence period to maintain and renew their visas.
After five years of residence, investors can apply for a permanent residence visa, and after ten years of residence they can apply for citizenship.
HOW CAN YOU GET ONE?
The most common method is to buy property for a minimum value. In Spain, this minimum value is 500.000€.There are, however, other ways to obtain it:
- By investing in public debt (2 million €).
- By investing in shares or holdings in companies with Spanish capital (1 million €).
- Investment funds, closed-end investment funds or venture capital funds established in Spain (1 million €).
- Bank deposits at Spanish financial institutions (1 million €).
- By investing in a business project in Spain. There is no minimum amount. The impact on the economy is evaluated in accordance with its potential to create jobs, socio-economical effect on the area or contribution to innovation in science or technology.
Anyone who meets any of these requirements can apply for the Golden Visa (or a duly accredited representative can do so for them).
Benefits of the Golden Visa:
The Golden Visa has a number of benefits for its holders:
- Permission to live and work anywhere in the country.
- The above benefits also apply to family members who meet the age requirements set out in labour regulations. The investor's partner and children (under 18) can be included in a single application.
- Access to the entire European Schengen* zone with no visa requirements.
- Permission to remain within the Schengen zone for 90 days of each six-month period.
* Schengen zone member states: Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland, Liechtenstein.
Where can I apply?
If you're thinking of purchasing a property in Spain, we can inform you and help you during each step of the process. We speak your language (even Russian).
What paperwork will I need to provide?
- Public or private health insurance from a provider that operates in Spain.
- Criminal record certificate.
- Proof of financial means.
- Proof of investment. This will vary depending on the type of investment. If you've bought property, you'll need a certificate from the Property Registry and the title deeds. If the sale hasn't gone through yet, you'll need an official formalised public contract.
All foreign documents need to be translated into Spanish and legalised. Foreign public documents also need to bear the Hague Convention Apostille or, if not, to have been legalised via diplomatic channels.
Want to know more about the Golden Visa?
At Jetvillas we can provide all the necessary information and help you buy property in Spain.