We know as Golden Visa the residence permit for investors. It is a system that facilitates the procedures to establish in Spain to those people who import a certain volume of capital.
Although some people criticize the Golden Visa, since it provides advantages according to strictly economic criteria, the truth is that it is a measure present in most of the surrounding countries, given its usefulness in attracting foreign investment.
The residence permit for investors was introduced in Spain by means of RD 14/2013. A regulation that also introduced aid for the international mobility of entrepreneurs, highly qualified professionals, and facilities for intra-corporate relocation.
What is the Golden Visa? Residence permit for investors
The Golden Visa is the popular name for the Investor Residence Permit. It is available to any foreign person who intends to enter Spanish territory to make a “significant investment”.
RD 14/2013 understands by significant investment:
- Initial investments equal to or greater than:
1. Two million euros in Spanish public debt securities.
2. One million euros in:
– Shares or equity investments in Spanish capital companies.
– In closed-end investment funds or venture capital funds.
– Or in bank deposits in Spanish financial institutions.
- Real estate acquisitions for a minimum value of 500,000 euros.
- Business projects that are considered and accredited as being of general interest. In this case, a representative of the project may obtain the permit. To access this modality it is necessary to concur:
– Creation of jobs.
– Investment with a relevant socio-economic impact in the geographical area of the activity.
– Or relevant contribution to scientific and/or technological innovation.
Who can apply for the residence permit for investors?
The residence permit for investors or Golden Visa is available to anyone who meets the above requirements. However, it is most commonly used by non-EU nationals.
For example, China and Russia are the states whose citizens most commonly use this visa. Having a permit to reside and work in Spain implies the possibility to travel and provide services throughout the European Union.
In this regard, it is essential that in Spain, as in most countries, residence and work permits are separate. Although they can be obtained simultaneously, having a residence permit does not necessarily imply being able to carry out economic or work activities. However, the Golden Visa allows not only to reside in Spain but also to develop lucrative activities.
In addition, in many occasions, a visa is limited to a determined territory within the State that grants it. This is not the case with the investor visa, which is valid for the entire national territory.
Brexit: a new niche for Golden Visa applicants
One of the states most interested in the investor visa at present is the United Kingdom. Since its exit from the European Union, British citizens are opting to use the investor visa to obtain their residence permit in Spain. After all, Spain is one of their preferred destinations for both business and retirement. And in exchange for making the corresponding investment, the British citizen has the option of speeding up all the procedures and continuing to provide services and reside as if he were still a European citizen.
How to apply for the Golden Visa?
The residence permit for investors can be obtained personally or through a representative. The residence visa for investors has an initial duration of two years. However, extensions of five years may be requested, provided that the requirements for granting the visa are still met.
Contrary to what happens with other permits, and as we have already indicated, the Golden Visa also authorizes to work in Spain. Its validity extends to the whole national territory.
In summary, as long as you have sufficient economic means to make the investment, the Golden Visa is the best way to apply for residence in Spain. It is accompanied by the right to work and can be a way to obtain the nationality by residence.
In addition, we cannot forget that as members of the European Union, obtaining a residence and work permit in Spain allows great freedom of movement as well as the exercise of economic activity. Therefore, this is a very attractive option for non-EU citizens.
Other advantages associated with the investor visa
In addition to the advantages already mentioned, which are the obvious ones of any residence permit, we must remember that the Golden Visa allows the investor to apply for the residence permit of his spouse and children. It becomes, therefore, a privileged tool for family consolidation.
At the same time, the investor will be able to keep the permit without the need to reside in Spain. It is enough for him to visit the country once a year and maintain his investment to keep his right to reside and work here.
Finally, we should note that this visa not only expedites the application for the permit, but it is the only one available in the Spanish legal system that is granted for an initial period of two years.
This is particularly important if we consider that, once the extension is requested, the investor could already meet the requirements for naturalization. So the investor visa also makes it easier to obtain Spanish nationality.
If you want us to help you to process your Golden Visa or residence permit for investors, just contact us. It will take about 20 days to obtain the favorable resolution once you accredit the investment, which will give us a period of one month to request the visa, without you having to travel to Spain until this final stage.