Golden Visa Spain 2021 Guide
Spain Golden Visa – Invest in Spain and Get the Residence Permit
The Golden Visa for Spain is a residence visa issued to a non-EU national who intends to make a significant investment in the Spanish economy. The visa offers the holder and their family members residency in Spain and visa-free access to the Schengen Zone.
In most cases, Spain Golden Visas are issued to someone who purchases real estate. However, they are also available to businessmen who invest in a Spanish company, which is why they are referred to as Spain Investor Visas as well.
Who Can Get a Golden Visa for Spain?
To be eligible for a Spanish Golden Visa, you must make one of the following investments:
Purchase real estate in Spain worth at least €500,000. The real estate can be one single unit or several, with an overall worth no less than €500,000.
Make an investment in the Spanish public debt of at least €2,000,000.
Buy shares in a company or make a deposit in a Spanish bank of at least €1,000,000.
Invest in a new business that will offer employment opportunities, contribute to scientific and/or technological innovation and have a relevant socio-economic impact in the area where the business will be undertaken.
In addition to the investment, you must also fulfil the following requirements:
You must be of legal age (+18 years old).
You must have no history of criminal records.
You must not have been refused a Schengen Visa in the past.
You must have health insurance in Spain.
How to Apply for a Spain Golden Visa?
If you have made any of the investments listed above, then you can submit a visa application to the nearest Spanish Embassy or Consulate. At the time of application, you must be committed to making the investment, but the investment does not necessarily need to be finalized.
You can submit the application yourself or through an authorized representative, such as a lawyer. When submitting the Spanish golden visa application, you must have the required documents with you (see Documents Required for Spain Golden Visa Application below).
You don’t have to be in Spain to apply for the visa, although you will likely have to travel there prior to the visa application to manage your investment. After you receive the visa, you have to travel to Spain to get your residence permit.
Application for family members: Your family members have to apply for their own visas to Spain as dependents. They must include documentation which proves family relation, such as birth and marriage certificates.
What Family Members Can Be Included on the Spain Golden Visa?
The family members you can include on the Spain Golden Visa are:
Children under the age of 18. If you have any children who are not minors but are nonetheless dependent due to any health or mental conditions, they also classify for the visa.
Dependent elderly parents.
Your family members will also receive residence permits and be allowed freedom of movement in the Schengen Zone.
How Long is the Golden Visa for Spain Valid?
The Golden Visa which you receive at the Embassy will be valid for one year. During this year, you have to enter Spain and exchange your visa for a Spain residence permit, which will be valid for two years.
The residence permit can then be renewed indefinitely, without any stay requirements, as long as you maintain your investment. You have to travel to Spain each time you need to renew your residence permit.
If you intend to actually live in Spain, then you can apply for permanent residence after five years of continuous residency (at least six months out of the year).
Can I Get Spanish Citizenship by Investment?
Yes, Spain’s Investor Visa is a pathway to citizenship, as long as you live in Spain for at least 10 years.
Although the process of becoming a resident of Spain through investment is pretty straightforward, to receive a passport, you must live in Spain for at least 6 months out of the year for ten years.
In addition, there are other requirements for obtaining Spanish citizenship, such as knowing the language and having ties to the country. A Spanish passport will give the holder access to the EU job market and visa-free access to over a hundred countries.
Benefits of the Spain Golden Visa
Spain is part of the European Union, which means Spanish residents can travel visa-free to all Schengen Zone countries for up to three months in a six month period, as can your family members. Other benefits include:
You do not have to live in Spain to renew the residence permit – but you can if you want to.
You can work and live in Spain legally.
You can bring your family members with you (spouse, children, and dependent parents)
You and your family members will have access to public services such as state health care and schooling.
Documents Required for Spain Golden Visa Application
When applying for a Spanish Golden Visa, you need the following documents:
Spain Visa Application Form
Two passport-size pictures. Make sure they follow picture guidelines for a Spanish visa.
Make sure the passport will be valid for the initial period of time you intend to spend in Spain and has at least two blank pages. You may also need a photocopy of the personal information page of your passport.
If you are not a citizen of the country where you live: Your residence permit.
Documents which prove you have sufficient income to support yourself and your family as you live in Spain.
Police records, proving you have no criminal background. They must be issued within the three months prior to the application.
Proof of health insurance (private or public) with an insurance company operating in Spain.
Proof of payment of the visa fee.
Any additional documents related to your specific case (investment or real estate purchase), as described below.
The documents you submit have to be translated into Spanish (if they are not already) by a certified translator and apostilled.
Requirements for Spain Golden Visa (Real Estate)
If you have purchased a property in Spain, you must prove you have acquired ownership of the property through a certificate issued by the Land Registry within the three months prior to the application.
This certificate must include the purchase amount (no less than €500,000).
If the property purchase has not been entered in the Land Registry yet, you can simply submit proof that the documents have been entered for filing along with the proof of payment.
If the purchase of real estate has not been finalized, you can submit the preliminary contract, including a down payment, and a letter from a financial institution in Spain proving the availability of the required funds.
Requirements for Spain Investor Visa
To prove your investment when applying for a Spanish Investor Visa, the following documents have to be submitted:
Investment in the Spanish Government Debt: A certificate from the Bank of Spain or another financial institution, stating you are the sole owner of the investment for a period of at least five years.
Investment in stocks or shares in a Spanish company: A statement of the investment from the Spanish Registrar of Investments of the Ministry of Economy and Competitiveness.
Investment in quoted shares: A certificate of the financial intermediary stating your investment, registered at the Spanish National Stock Market Commission or at the Bank of Spain.
Investment in a bank deposit: A certificate from the financial institution naming you as the sole owner of the bank deposit.
Is It Possible to Get a Loan to Apply for Spain Golden Visa?
No, you cannot apply for a Golden Visa for Spain if you acquire the money via a loan. You must make the initial investment in full, though your own funds and you must be the sole owner of the investment.
However, if you purchase a property worth more than €500,000, then you can use loans and financing to pay for the amount exceeding €500,000.
Is It Possible to Make a Joint Investment to Get a Spain Investment Visa?
Even if you make a joint investment or purchase, each individual investment has to meet the minimum requirements. As such, if you decide to purchase a property, each person involved has to pay €500,000 to be eligible for the Golden Visa. It is not possible to split the investment into smaller amounts, as you would not be eligible for the Golden Visa residency.
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Source: https://www.schengenvisainfo.com/eu-golden-visas/spain-golden-visa/ ( Last Updated on January 5, 2021)