8 Essential Questions about Spain Golden Visa Program
Spain Golden Visa is one of the easier routes that could lead one to European citizenship. Substantial investment is the quickest way to obtain the Spanish Residency Permit (technical name of the Golden Visa). Buying property in Spain or making a donation are some of the popular methods that could as a result grant the applicant the right to visa-free travel to many places including the Schengen-area countries.
However, as in most of the Residence by Investment Programs, Spain Golden Visa Program, too, might have some complicated bureaucratic procedures. To be able to experience a smooth and flawless application process, there are several things to know.
What types of investment allow obtaining the Golden Visa in Spain?
Article 63 of Law 14/2013 identifies two major groups:
- 2 million euros in public debt.
- 1 million euros in shares.
- 1 million euros in investment funds.
- 1 million euros in bank deposits.
- 500,000 euros in real estate.
Other types of investments
- Creation of companies.
- Highly qualified professionals
Can I apply to the Spain Golden Visa by buying more than one property?
Yes. Article 64 of the aforementioned Law allows to apply provided that the total of the investment, in one or several properties, is equal to or greater than € 500,000.
Can I buy with charges or encumbrances?
Yes, but the 500,000 euros must be free of charges or encumbrances in Spain. For example, if you buy a property of 800,000 euros, 500,000 euros must be paid by the investor in liquid money and the other 300,000 euros can be obtained by mortgage in Spain.
Another option would be for the investor to have a mortgage granted at his bank outside of Spain, ideally a bank with which he has been operating for years.
Can I buy through a legal entity?
Yes, point 3 of article 63 allows it. The foreign investor must demonstrate that he owns directly or indirectly the majority of his voting rights and has the power to appoint or dismiss the majority of the members of his administration body.
Does the Golden Visa allow me to move freely to other countries of the Schengen territory?
Yes, it allows circulating throughout the Schengen area: Germany, Austria, Belgium, Denmark, Slovakia, Slovenia, Spain, Estonia, Finland, France, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Norway, The Netherlands, Poland, Portugal, Czech Republic, Sweden and Switzerland.
Does the Golden Visa allow work in Spain?
Yes, according to Article 65 of Law 14/2013, the granting of a residence visa for investors will allow them to reside and work in Spain during its term.
How long can I reside in Spain with the Golden Visa?
You can reside in Spain while the investment is maintained.
The first stage is to request the “residence visa”, described between articles 62 to 64 of Law 14/2013, which lasts for 1 year.
The second stage is to request “the residence authorization” described in article 66 of said Law that will last for 2 years, and may be renewed in accordance with the provisions of article 67.
How long is the procedure to obtain the Golden Visa?
Article 76 of said Law establishes a maximum term of twenty days from the presentation of the request. According to our experience, we know that in practice it takes about 25 days to complete the application process, and then, once granted, it takes an additional 25 days to obtain the identification document. In total, it takes about 50 days.