The Golden Visa or Residence for Investment is an authorisation that allows non-EU foreigners, including British nationals from 1 January 2021, to reside and work with their family in Spain, by demonstrating that significant capital investment has been made in Spain and that the rest of the requirements of the Spanish legal system are met.
The investor and the following family members may obtain the Golden Visa: their spouse or common-law partner, their children under 18 years of age, their children of legal age who are financially dependent on the investor and have not created their own family, and their dependent relatives in the ascending line.
In any case, in addition to the investment, applicants must meet the following requirements:
Capital investment in Spain, which can be made in 6 different ways, as established in Law 14/2013, the most relevant being the acquisition of a property for an amount of 500,000 euros or more. It can be any type of property: home, business, land or a combination of several properties, but it must be free of encumbrances, i.e. that it has been acquired without bank financing.
The Golden Visa offers the following advantages to its holders:
In relation to the process to obtain the Golden Visa, we have two options: firstly, if the applicant for the Golden Visa is outside Spain, the process will begin with the application for an investor visa at the Spanish Consulate in the country of origin. This visa has a duration of one year, during which the investor and his family can come to Spain and apply for a 2-year residence permit. There is also the possibility to apply for a 2-year residence permit, without the need to previously apply for an investor visa, if the applicant is legally in Spain or if he/she has a legal representative in Spain.
The resolution period is 20 days from the date of application.
The Law also allows the investor to come to Spain with a tourist visa in search of a property, and when he/she finds it, and once the pre-agreement (“contrato de arras”) has been signed and the funds paid, to apply for the Golden Visa, and if necessary, the authorities can grant the investor a six-month permit to complete the process of buying a property.
In any case, once the residence permit has been obtained, the investor and his family must personally apply for a Foreigner’s Identity Card.
If you are thinking of applying for a Golden Visa through the purchase of a property, you can count on imont’s specialised services to:
In addition, we will provide support, which, although it does not include legal aspects, is no more important for the investor and his or her family: