Features of obtaining a Spanish “golden visa”

The norms and requirements of Law 14/2013 on the internationalization of business ensure the influx of foreign investment, as well as highly qualified specialists. Supporting business immigration meets the interests of the state, increases the competitiveness of companies, and interests them in the development of scientific and innovative projects. Business immigration is carried out within the legal framework.

According to the Law, the right to obtain a residence permit in the kingdom according to the simplified system are held by business entities, investors and highly qualified specialists. At registration, increased requirements are imposed to the submitted documentation.

  1. Submission of documents for simplification makes it possible to obtain a visa without the right to register property in the Register (a visa is granted for six months).
  2. It is allowed to submit documents of the main person with his wife and children up to the age of majority.

Disadvantages of the “Golden Visa”

  • Despite the equalization of the investor’s visa with a residence permit, the person limited in rights: cannot register as an entrepreneur and get a job;
  • according to the document, it is impossible to immediately issue a resident card (a full-fledged procedure for obtaining a residence permit is required and obtaining approval from the administrative authority);
  • investor and relatives of the 1st line are not entitled to automatic or simplified obtaining a residence permit in Spain;
  • the visa is not subject to renewal or re-receipt at the Consulate: recipients can obtain an investor residence permit on it;
  • persons of 1 kinship do not have the right to independently submit documents, execute them together with the main person or after receiving a visa.

For registration is obligatory:

  • compliance actions with the requirements of regulatory act 14/2013;
  • lack of criminal record and harassment by state authorities;
  • Accredited insurance in Spain confirmation of solvency of the main applicant and family members applying for a residence permit.

The investor must comply with the requirements:

  • property acquired in Spain should be worth no less than 500 thousand Euro without taxes and extra expenses;
  • the value of Spanish government bonds should be at least 2 million Euros;
  • on a Spanish deposit account or as shares of Spanish companies must be at least 1 million Euro;
  • a business project implemented in the country should meet the interests of citizens.

A mandatory requirement for a business project is the creation of new jobs or its beneficial effect on the economic situation of the region in which it is planned to carry out core activities. Investments in scientific and innovative developments are welcome.

List of documents for applying for a “golden visa”:

  • application in a standard form;
  • the availability of documents confirming the fact of compliance with the requirements: passport, insurance, certificate from a medical institution, a document confirming the absence of a criminal record and a document confirming the fact of solvency;
  • papers confirming compliance with the requirements for the investor;
  • duty receipt;
  • when filing documents by another person 1 line of kinship is required by a notarized power of attorney.

As confirmed by the fact of investing

1.Real Estate

When making a purchase and sale transaction, a person must provide a certificate from the Register on the availability of real estate property, indicating all the nuances. If the document is at the stage of consideration or approval – a certificate of acceptance of documents for registration of ownership and a document on the payment of state duty. The Golden Visa is issued for six months subject to the availability of a preliminary contract.

2.Spanish government loan bonds

The document confirming the investment is an extract from a banking institution in Spain, provided that the person will be the sole owner of the investment for 5 years.

3. Shares of Spanish companies unlisted

investment statement from the Ministry of Economy and Competitiveness; quoted: certificate from the Bank of Spain on making legal investments.

4.Deposit account in Spain

A confirming document is a certificate from the bank about the presence of a deposit account for the specified person.

5.Business project, relevant to public requests

A positive decision by the trade department of the Embassy of Spain, at the place of filing.