WHAT 'GOLDEN VISA' IS?
The investor residency is commonly known as the 'Golden Visa'.
This residence was born in 2013 under the Entrepreneurs Law, in order to attract non-EU foreign investment capital in exchange for a residence, with many advantages.
The `Golden Visa´ residency is granted for many types of investments:
- Investment in Public Debt, from €2,000,000.
- Bank deposits, investment funds, investments in shares of Spanish companies, or through the creation of a company (special conditions), from €1,000,000.
- Purchase of real estate, from €500,000 without expenses.
The last one is the most popular.
MAIN REQUIREMENTS
- Not be a citizen of the European Union.
- You will need to invest in one of the types that we have explained above.
- Have private health insurance with a Spanish company (make sure the contract offers full coverage).
- You must not have a criminal record.
- Being over 18 years.
- Have sufficient financial means to live in Spain and support your family.
ADVANTAGES OF THE `GOLDEN VISA´ OVER OTHER RESIDENCE PERMITS
- Resolution in 20 days from the request.
- It can be sent electronically by a lawyer, which greatly speeds up the procedures.
- The residence permit can be, not only for the interested party, but also for all members of his family (special conditions).
- It is not necessary to live in Spain, you only have to come once a year.
- The first time this residency is obtained, it lasts for 2 years. After that time, it can be renewed for 5 more years and, from that moment, permanent residence can be obtained.
WHAT DOCUMENTS JUSTIFY THE INVESTMENT MADE?
- If you buy a property, you will need the certification of domains and charges.
- If you invest in a bank deposit, you will need the certificate from the financial institution that has been contracted for the operation, and you must state that you are the sole owner of that deposit.
- If you invest in company shares, you will need a certificate from the Investment Registry or a certificate from the National Stock Market Commission, depending on which shares they are.
- For Public Debt, you will need a certificate from the Bank of Spain.
HOW LONG DOES IT TAKE TO OBTAIN THIS RESIDENCE?
Once all the documentation is sent to the administration, you will have to wait a maximum of 20 days for the resolution.
After receiving the favorable decision, you must request the TIE card. For this, it will be necessary to make an appointment at the police station to take the fingerprints and finally obtain the TIE card.
More information:
You can continue consulting information about the residence for investors by reading the following articles.
Or you can make an appointment at our law firm
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