Spanish Golden Visa: The visa for investors and entrepreneurs

A great opportunity for non-EU nationals (UK, USA, United Arab Emirates, India and China) to gain residency through investments

1. Who is eligible for a Spanish golden visa

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.

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.

Family members can apply for their visa at the same time or after the main applicant

2. Residence Visa for buyers of real estate in Spain:

Foreigners who make an investment in Real Estate goods in Spain that are worth 500,000 € or more, without liens or encumbrances, are eligible to apply for this visa. The portion of the investment exceeding the required amount may be subject to liens or encumbrances.

In addition to the general requirements established, the applicant shall provide evidence of having acquired ownership of the real estate through a certificate with ongoing information on the ownership and encumbrances from the relevant Land Register for the property.

If, at the time of the visa application, the acquisition of the real estate is in the process of being entered in the Land Register, it will be sufficient to submit the aforementioned certificate confirming that the purchase document has been entered for filing.

If the applicant did not completed the purchase, but there is a provisional earnest money contract, this provisional contract must be provided along with a certificate issued by a Spanish financial institution, stating that the applicant has an unavailable deposit of the required amount. In this case, the applicant will be granted an investor visa for a maximum period of 6 months.

3. Residence Visa for capital investors

This visa is aimed at investors with an initial investment with a value equal to or greater than 2.000.000 € in Spanish government debt securities, or a value equal to or greater than 1.000.000 € in stocks or shares of Spanish companies with a real business activity, closed-end investment funds or venture capital funds, or bank deposits in Spanish financial institutions.

In addition to the general requirements established, the applicant shall provide proof of having made the investment for the minimum required amount within no more than one year prior to filing the application, in the following manner:

a. For investments in unquoted shares or holdings, the copy of the investment statement filed with the Registry of Foreign Investments of the Ministry of Economy and Competitiveness must be submitted.

b. For investments in quoted shares, a certificate from the financial broker duly registered with the Spanish National Securities Market Commission or with the Bank of Spain will be submitted stating that the interested party has made the investment for the purposes of this legislation.

c. For investments in public debt, a certificate from the financial institution or the Bank of Spain will be submitted stating that the applicant is the sole owner of the investment for a period equal to or longer than 5 years.

d. For investments in investment funds, closed-end investment funds or venture capital funds established in Spain, a certificate from the management company of the fund established in Spain and registered with the Spanish National Securities Market Commission (CNMV).

e. For Bank deposit investments, a certificate from the financial institution will be submitted stating that the applicant is the sole holder of the bank deposit.

4. Residence Visa for entrepreneurs

This visa is aimed at investors with a business project intended to be carried out in Spain, that is deemed and proved to be of general interest, and at investors who are intending to enter and remain in Spain for a one-year period for the purpose of making preliminary arrangements in order to be able to develop an enterprising activity.

For investors with a business project, applicants must provide a favourable report confirming that the business plan is of general interest. The report shall be issued by the Economic and Commercial Office of the geographical area in which the investor files the visa application.

For entrepreneurs, entrepreneurial activity will be deemed to be any innovative activity of special economic interest to Spain that, as such, has obtained a favourable report issued by the Economic and Commercial Office of the geographical area in which the investor files the visa application.

5. Permanent Residency and Citizenship

Spanish residency means that you can spend unlimited time in Spain and 90 days at a time in any other Schengen country, every six months.

It is possible to apply for permanent residency in Spain after living in the country for five years. Citizenship can be applied for after living full time for ten years.

Although the temporary residency permit (the golden visa) can be easily renewed without living in the country, the route to both permanent residency and citizenship requires the investor and their family to reside in Spain.

For this reason the Spanish Golden Visa is popular with those applicants who either wish to reside full time in Spain or simply maintain a second ! residency in Europe but without a path to citizenship.

At FR&P Abogados we provide a large range of services for investors. Our professional and dedicated team has many years of experience in legal advice, management, real estate, conveyancing, provision, new visas, property, residency, and investment opportunities for globally-minded investors. Thanks to our expertise and deep local knowledge, we are able to give investors a professional, tailored and reliable service, including the management of the Golden Visa in Spain.

If you would like more information on the Golden Visa Program in Spain or any other legal matter, contact Florence Byrd. Find all the information below.