Residence Permit in Spain by Investment (Golden visa)
Investors who are ready to invest significant capital in the Spanish economy have the right to count on the "golden visa", a special residence permit issued in a simplified manner. The minimum investment starts from a million euros, if we are talking about company shares or deposits in Spanish banks, in the case of government bonds, the entry threshold is even higher. The simplified procedure is obtaining residence permit for the whole family in two months without the need to pass a language proficiency exam and subsequently spend most of the year in Spain.
Program's details
- Citizenship the prospect of getting passports
- € 1 million minimum investment
- Returned investments potentially profitable investment
- 2 months quick obtaining of a residence permit
- For the whole family including adult children and parents
- Visa-free travel options freedom of movement within the EU
- Moving to Spain optional, no obligations
- The right to work for all family members
The official website of the program
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About the Program
In 2013 Spain issued the law "On the support of entrepreneurs and their internationalization" under number 14/2013, which legalized "golden visas" - residence permits for investors who invest significant capital in the economy. The authorities offer foreigners various investment options: government bonds, company shares, bank deposits, business. One of the options is to purchase real estate (read more about this here).
The law was conceived as a supportive measure for the economy hit by the crisis. And today we can say with confidence: the task is completed. More than 5.5 thousand investors (excluding family members) have received Spanish "golden visas" and brought the country over € 2.8 billion. And the program participants have received the right to live and work in Spain, the ability to bring their families here, travel around Europe without visas and other bonuses. According to statistics, most often, investment residence permits are received by immigrants from China and Russia.
The first "golden visa" is issued for two years, then it can be extended for five years an unlimited number of times, while the assets remain in property. After five years of living in Spain, you can apply for permanent residence (permanent residence permit) - after receiving this permit, the investment can be returned. And after 10 years of living in Spain, a foreigner has the right to apply for a passport. But keep in mind - dual citizenship in Spain is prohibited, which means that the first will have to be abandoned.
Investment Options
- € 1 000 000
Shares of companies
- You may acquire shares in Spanish companies or investment funds in the amount of € 1 million or more. Assets must remain in ownership for at least 5 years.
- € 1 000 000
Bank deposit
- Open a deposit in a Spanish bank in the amount of € 1 million or more. Funds should be deposited on the account for at least 5 years.
- € 2 000 000
Government bonds
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Purchase government bonds in the amount of € 2 million. Assets should remain in ownership for at least 5 years.
The law also provides for the right to request an investment residence permit when establishing a business in Spain. In this case, there is no minimum capital threshold. The main thing is to prove with a business plan that the project will be useful for the economy: it creates job positions, it is innovative and promising, it generates tax revenues, etc.
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Residence permit for family members
Who receives a residence permit with an investor:
Spouse
Spouses who are legal or living in a common-law marriage.Children
Minor and economically dependent adult children, i.e. unmarried, university students.Parents
Direct ascendants who are dependent.
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Requirements to investors
- To be a citizen of a "third country", i.e. non-EU states
- Not to have bans on entry to Spain and other states of the Schengen area,to stay in the country legally.
- To be over 18 years old (for the main investor)
- To have no criminal record in Spain or another country of residence
- To have a health insurance policy, as well as a certificate of the absence of dangerous infectious diseases
- To have sufficient financial resources for yourself and your family members while living in Spain
- To pay state fees for obtaining the investor visa and the residence permit
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Documents
All documents are provided in Spanish. For papers issued in another country, a duly apostilled translation is required.
Personal documents
- 2 Application forms
- Four pictures
- Passports of the applicant and all his family members
- Public or private insurance policy valid in Spain
- Certificate of no criminal record
- Birth certificates, marriage certificates, birth certificates for children
- Confirmation of sufficient funds in the account to live in Spain
- Receipt of payment of the state duty for registration of the residence permit
Proof of investment
- Government bonds: certificate from a financial institution or from the Bank of Spain
- Unlisted shares: declarations of investments made registered in the Foreign Investment Register of the General Directorate of Trade and Investment (DGCOMINER)
- Listed shares: certificate from a financial intermediary registered with the State Commission for the Securities Market (CNMV) or with the Bank of Spain
- Investment funds: certificate from the fund managing company
- Bank deposits: certificate from a financial institution
- Business project: positive resolution on the prospective business prepared by the General Directorate of Trade and Investment (DGCOMINER)
Expenses
- State fees for residence permit
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€70 per applicant
- Legal expenses
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€1,000 - 15,000 for the main applicant, depending on the rates of a particular law firm. If spouses, children and parents are included in the application, additional payments are possible. Some real estate agencies and developers provide these services for their clients free of charge
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Rights and Obligations
- To live in Spain without time limitations
- To travel around EU countries without a visa and live in other countries for up to 90 days in half a year
- To receive health care with insurance
- To work for hire throughout Spain
- To educate children for free in schools and universities
- To change tax residency (not required)
- To keep investments in property until permanent residence is issued
- To visit Spain at least once a year to extend the residence permit
- To apply for permanent residence after 5 years, for citizenship - after 10 years of residence in Spain.
The procedure for obtaining a residence permit in Spain
