Residence In Spain. GOLDEN VISA
31 August 2015
In the actual globalized society, more and more people want to become part of a "united Europe" to have freedom of movement and avoid visa restrictions.
To get the official resident status in Europe can be made in several ways. More and more of our fellow citizens want to obtain the right of permanent presence on the territory of Spain, which, in turn, offers two simple and quick ways to obtain residency.
It is about the residence for investors in Spain, known as the "golden visa". This form of business immigration to Spain is possible thanks to the law "About the support for entrepreneurs and their internationalization" of September 27, 2013.
Spanish Golden Visa gives the right to reside in Spain for at least a year. The stay in Spain over this year is unlimited, unlike the case of multivisa or tourist visa. Moreover, according to the amendment of 29 July 2015 of the Basic Law 14/2013, obtain “golden visa” can also spouses, minor children or dependent economically adult children.
1. Residence FOR the investor / GOLDEN VISA WITH ACQUISITION OF PROPERTIES BY VALUE OF OVER 500,000 EUROS
This type of residence is granted to the owners of properties with worth more than 500,000 Euros. It is important to note that the property must be free of encumbrances, including mortgages.
Importantly, the property acquired by the investor to obtain a residence permit, do not have to be a single entity. This could be, for example, a set of 2-3 flats in Barcelona, which, in turn, will not only allow the investor to have accommodation for himself, but also property for rent.
The Spanish Golden Visa is valid for one year, providing the investors the exclusive right of permanent residence in Spain without the need to leave it every 90 days. Moreover, you are entitled to free movement in the countries of the Schengen area. And according to the amendment of 29 July 2015, the Golden Visa gives the right not only to live but also to work in Spain.
Before the expiry date of Golden Visa, you can apply for obtaining of residence permit in Spain (permit of the investor). If you have all the necessary documents, the procedure for obtaining residence is relatively fast.
The initial residence permit of investor is issued with a duration of two years. According to the first version of the law, the original residence permit can be extended for another two years, but according to the amendment mentioned above, this term is 5 years.
2. RESIDENCE OF INVESTORS / INVESTMENT PROJECTS OVER 1,000,000 EUROS
For this type of residence, you may invest in various business projects. The application procedure and obtaining of this residence permit, also known as the residence of investor, for the most part are similar to those described above in the paragraph about the residence with the purchase of residential property over 500,000 euros.
The range of investment projects is quite broad:
- Investments 1.000.000 Euros in bank deposits in Spanish banks
- Investments 2.000.000 Euros in Spanish government bonds.
- Investments 1.000.000 Euros in stocks or shares of Spanish companies
According to the amendment of 29 July 2015 in the Basic Law 14/2013, the deadline for application for the investor visa it is set to one year.
DOCUMENTS REQUIRED FOR GOLDEN VISA IN SPAIN
- Criminal record certificate
- Insurance policy valid for all countries of the Schengen Agreement
- Documents confirming availability of sufficient funds
- Sales contract and extract from the state Register of property in Spain (residence of investor for the acquisition of real estate by more than 500,000 euros)
- Documents confirming the realization of the investment (residence of investor in business projects).
The decision to obtain a residence permit in Spain need the help of an qualified immigration lawyer in Spain, who will help you competently and quickly prepare all the necessary documents. Extensive experience and individual approach to each client, as well as the high professionalism of our lawyers, allows us to offer legal services related to obtaining a residence permit, golden visa and other immigration issues, according to the highest quality standards.