One of the easiest and fastest ways to get residency permit in Spain is through the Golden Visa. If you make a 500.000 euros investment or more, you can get this visa that gives you the right to reside and work in Spain. That means that this formula allows access to the benefits of residence permit in exchange for an economic investment.
The Golden Visa was created with the aim of incentivizing real estate demand. Approved in Spain back to 2013, it’s already in force in many other European Union countries such as Malta, Portugal or Greece.
The gold visa was part of Law 24/2013 on support for entrepreneurs and their internalization which also included residency for those who made other types of investments like the acquisition of government bonds of more than two million euros, or the investment in shares of a company for more than one million euros, among others.
What do you need to apply for the Golden Visa?
Those who want to invest in Spain will need to submit previous documents in order to guarantee compliance with the general requirements established by the Ministry of Foreign Affairs.
The main requirements for applying for a gold visa are:
- Investment of 500.000 euros in real estate assets.
- Be 18 years old.
- The applicant has to have a minimum of financial resources, not only for him but for his family members, to be able to cover the expenses during their time of residence.
- Have public or private insurance with an authorized insurer.
- Give the criminal record certificate.
- Pay the visa fee.
Golden Visa benefits
As we have said, with these visas you can get a fast-track residence permit for both the first immediate concession of one year, and for the processing of renewals every two years. Therefore, the visa allows the investor to reside for at least one year in Spain, extendable for up to two years, and also grants residency tot the applicant’s family.
Among the most prominent advantages are the free movement through the Schengen Area, in which 26 European nations recognized the abolition of their borders with other member nations for unrestricted free movement. This freedom of movement is one of the main reasons for the processing of visas.
It’s also worth noting that, with the Golden Visa, it’s only necessary to visit Spain once, in order to maintain the permit, so the investor doesn’t have to stay for a long time. In addition, he obtains the right to work as an employer or employee once the visa has been granted.
Spain, one of the best countries to invest
Spain offers a wide variety of business investment projects and that’s why the Golden Visa Spain is one of the most attractive options for foreign investors. With the consolidation of the industrial, technological and service sector, Spain is positioned as one of the greatest destinations for investors.
The key factors that make Spain one of the best countries to invest are, among others, visa’s low price, as well as the good quality of life of the country and Spanish monetary policy.
Still not knowing if it’s worth it to invest in Spain? At Orience International we analyse each case and offer advice to get the most out of the Golden Visa.