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“A Golden Visa” – it is a residence permit obtained on preferential terms as the result of participating in the government run investment programme. This programme is aimed at encouraging investments and entrepreneurial activity; it is also used to make the application process for a residence permit easier for the purpose of revival of the property market and attracting foreign investments. Let’s get all this straightened up!

What is an investor residence permit?

An applicant, who is making substantial investments in Spain, can count on receiving an investor residence permit. This type of residence permit allows foreign nationals, who are not EU citizens, to live in the territory of Spain and it gives the freedom of movement around the EU member states. Unlike with other types of residence permit, the applicant does not need to remain in the territory of Spain, it is sufficient for him to enter the country once a year and to keep the investments made in the country.

What is the legal framework?

The Law 14/2013 of 27 September “On Support to Entrepreneurs and their Internationalisation” as amended in 2015 and 2018.

For how long is it issued?

An investor visa or a residence permit for investors who have invested in real estate assets if there is a collateral agreement – for 6 months.
An investor visa for 1 year.
Initial residence permit for investor for 2 years.
It can be renewed for 5 years.

Application Requirements

Investment in real estate starting from 500 000 euro.
Investment in Spanish business ventures: there is no set minimum for this type of investment; this type of investment is assessed as a complete project of public significance:
- creating jobs;
- social and economic value of investment in a specific geographical area;
- investment in the development of scientific and economic innovations.
Investments in financial assets:
- Government debt, starting from 2 000 000.00 euro.
- Shares and interest in companies with Spanish capital assets, starting from 1 000 000.00 euro.
- Investment funds, investment funds of private companies limited by shares, risk capital funds incorporated in Spain, starting from 1 000 000.00 euro.
- Bank deposits of Spanish financial institutions, starting from 1 000 000.00 euro.

Documents supporting the Investments made

Depending on the type of capital investment:&bnsp;&bnsp;&bnsp;A real estate:

A certificate from the Register of Real Estates and the real estate purchase contract (escritura);
If the purchase of the real estate is not entered into the Register, it is necessary to provide a contract of pledge certified by a notary.
A business project:
A positive conclusion on the planned business by the Central Administrative Authority for Trade and Investments.
Government debt:
A certificate of financial institution or the Bank of Spain.
Unquoted shares:
The declaration of investment registered with the Register of Foreign Investments of the Central Administrative Authority for Trade and Investments.
Quoted shares:
A statement by the financial intermediary registered with the State Commission of Stock Market or the Bank of Spain.
Investment funds:
A statement by the fund management company.
Bank deposits:
A statement issued by the financial institution.

What if the investment is made by a legal entity?

It is possible to receive a visa or a residence permit on the condition of positive assessment of the business by the Central Administrative Authority for Trade and Investments, confirming that the company is not based in an offshore location and that the relevant person owns a major share in the company.

Who can submit documents?

An investor or his legal representative.

Where? In Spain or at the Embassy?

In Spain: you may apply for this type of residence permit in Spain if the applicant is located in the territory of the country legally or he has been issued with an investor visa.
Is it allowed to submit your documents whilst in Spain on a tourist visa? Yes, it is.
In order to receive a visa: if the applicant is not in Spain, he can apply at the Embassy of Spain at the place of his residence.

Which relatives can accompany the investor?

- Lawfully wedded or cohabiting spouses;
- Minor children or financially dependent adult children;
- Relatives in the directly ascending line who are supported by the investo.

Which health insurance policy is needed?

A government or private insurance policy.
A private insurance policy must be purchased from an insurance company accredited in the territory of Spain with full coverage without co-payment.

Entitlement to Work

This type of residence permit by default entitles the investor and members of his family to work in the territory of Spain.

Processing Period

For a visa: 10 days.
For a residence permit: 20 days.