A non-EU individual who intends to make a large investment in the Spanish economy is granted a Golden Visa to live in Spain. This permission allows you and your relatives (if they meet the required age labor restrictions) to live and work lawfully in Spain (together with your family) without having to visit more than once a year. You can also travel freely within the Schengen Area with this visa. Golden Visas are usually awarded to those who buy real estate in Spain. They are also known as Spain Investor Visas since they are accessible to businesspeople who make investments in a Spanish company.
You must make one of the following investments to be eligible for a Spanish Golden Visa:
- Purchase at least €500,000 worth of real estate in Spain. The real estate can be a single unit or a group of units with a total value of at least €500,000.
- Make a €2,000,000.00 investment in the Spanish state debt.
- Purchase shares in a company or make a deposit of at least €1,000,000 in a Spanish bank. Invest in a new enterprise that will create jobs, contribute to scientific and/or technological innovation, and have a significant socioeconomic impact in the area where it will operate.
You must also meet the following requirements in addition to the investment:
- You must be at least 18 years old to participate.
- You must not have any criminal records.
- You must not have previously been denied a Schengen Visa.
- In Spain, you must have health insurance.
Who is responsible for applying for a visa or a residence permit?
The investor or their legal representative must use the application form to apply for a visa or a residence permit.
It is critical to determine WHERE you are at the time of application in order to determine whether you will apply for an Investor Visa or a Residence Permit:
If you are outside of Spain when the application is submitted, you will need an INVESTOR VISA. Visa applications must be sent to the Spanish Consulate in the applicant’s home country. Applications for residence permits must be submitted to the Unit of Large Businesses and Strategic Groups (Unidad de Grandes Empresas y Colectivos Estratégicos (UGE-CE)).
Is It Possible to Apply for a Loan?
No, you cannot apply for a Golden Visa in Spain if the funds were obtained through a loan. The initial investment must be made entirely with your own finances, and you must be the sole owner of the investment.
If you buy a property for more than €500,000, though, you can use loans and finance to cover the difference.
Is it possible to get a Spain investment visa by making a joint investment?
Even if you make a group purchase or investment, each investment must meet the minimum standards. As a result, if you decide to buy a house, each person involved must spend €500,000 in order to qualify for the Golden Visa. Splitting the investment into smaller amounts is not possible since you would lose your Golden Visa residency.
Documents Required When Applying for a Golden Visa in Spain
You must send the following papers to support your application:
- The application for a long-stay visa in Spain.
- Two passport photographs are required.
- Your passport must be valid. It has to be from the recent ten years.
- Proof of residence in the country.
- Evidence of investment. All documentation demonstrating the nature and quantity of your investment, as well as the source of your funds.
- Residency Visas for Real Estate Investing:
- Certification from the Land Registry offering information about the dominion and taxes associated with the property bought.
- Capital Investor Residency Visas:
- In the event of unlisted or corporation shares, a copy of a statement of investment filed with the Ministry of Economy and Competitiveness’s Registrar of Foreign Investments.
- Certificate of a financial intermediary that has been duly registered with the National Financial Services Commission
- If the investment is in government bonds, a certificate from the financial institution or the Bank of Spain is required.
- A certificate from the financial institution in the case of a bank deposit investment.
- Clearance from the police. This document must be submitted in its original form, photocopied, and translated. At the time of application, it must be no more than 90 days old.
- Demonstrate that you have enough money to sustain yourself and your dependents while in Spain.
- Purchased medical insurance from a licensed Spanish provider.
- A medical certificate stating that you do not have any diseases that are dangerous to the public’s health.