Benefits of the Golden Visa

Legal News

The benefits of the Golden Visa reside mainly in that it is an efficient and fast option to obtain the residence of the interested party and his family in Spain.

The Golden Visa, or investment visa in Spain, is a residence permit that can be obtained by  those who are not citizens of the European Union by making an investment in Spain of a minimum of € 500,000.

Normally, the investment is made through the purchase of a property in Spain, but there are also other options such as the purchase of public debt, bank deposits or shares in Spanish companies, or through the start-up of a business project in Spain. In each case, the conditions and the amount of the investment to be made vary: in the case of buying public debt, an investment of more than 2 million euros is required; if the investment is made on bank deposits or Spanish companies the investment must be greater than one million euros. That is why the most interesting option is to buy a property in Spain, of a minimum of € 500,000, to obtain residence in Spain.

When the person interested in a Golden Visa decides to make an investment, real estate or otherwise, in Spain, it is highly recommended to contact expert professionals since it is important to take into account all the legal, tax, or urban implications related to the operation. Also it is probably, in many cases, necessary to carry out a study a study on the tax implications of moving to Spain only in the case that the applicant wants to establish its tax residency in Spain, which is not required by the Golden Visa.

Among the benefits of the Golden Visa, it should be mentioned that the applicant will be able to work in Spain during its validity, as well as obtain residency for the entire family, including children over 18 years of age, in order to carry out a family reunification. At the same time, the Golden visa will allow the investor to move freely through all the countries of the Schengen zone without the need for any visa. Unlike other visas, with the golden visa it is not necessary for the interested party to remain in Spain, the applicant can reside wherever he chooses and enter Spain at any time, and for the period of time of his liking, with the sole condition of maintaining the investment.

Origin of the Golden Visa

The Golden Visa was established in Spain in 2013 with the intention of attracting international investment to Spain and facilitating the way for investors and entrepreneurs interested in investing and residing in Spain. Everything related to the Golden Visa is regulated by Law 14/2013 and since it came into force, more than 25,000 people have requested it since it is one of the best options to obtain legal residency in Spain.

Among the necessary requirements to be able to apply for a Golden Visa is the need to demonstrate that there are sufficient funds to make the investment, that the applicant does not have a criminal record in any of the countries in which they have resided in the last five years and have sufficient financial resources to live in Spain.

Other benefits of the Golden visa include the fact that to maintain and renew this visa, indefinitely while maintaining the investment, the investor will only have to enter Spanish territory a minimum of once per year and is not obliged to acquire the tax residency. Finally, by acquiring a golden visa, the investor will be able to access the permanent visa in Spain.

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