The Golden Visa, or investor residence permit, is a special program aimed at non-European Union citizens seeking to establish themselves in Spain through a significant investment. This permit allows you to live, work, and study in Spain for an initial period of three years, with the possibility of renewing it for successive periods of five years, provided that the conditions that granted the right are maintained.
What should you know about applying for the Golden Visa?
To obtain the Golden Visa (if you are outside Spain) or the authorization (if you are already legally in Spain) based on capital investment, you must meet certain minimum investment requirements. Both the visa and the authorization allow you to live and work in Spain. The Golden Visa for capital investment, commonly known as the “Golden Visa,” is particularly relevant when the investment is made in real estate.
Investor Visa or Residence Permit (Golden Visa)
The visa must be requested if the foreign individual who has made a significant investment is outside Spanish territory. This visa is valid for one year and does not require the holder to reside in Spain. If the investor wishes to maintain residence beyond one year and can meet the necessary requirements, they may apply for a residence permit for investors at any time before the visa expires.
The authorization must be requested by the investor if they are legally in Spain and is valid for three years. Once this period has passed, the authorization can be renewed for five-year periods, provided that the conditions granting the right are maintained.
Lexmovea offers you a comprehensive service to process your Golden Visa, including:
We are a law firm specializing in immigration with extensive experience in processing Golden Visa or Spain Golden Visa applications. Our team of experts is well-versed in the requirements and procedures necessary to obtain this type of residence and will provide personalized advice and support at every stage of the process.
By trusting Lexmovea, you are guaranteed:
Experience and Expertise: Our team consists of highly specialized immigration and Golden Visa attorneys. Our in-depth knowledge of current legislation and specific requirements ensures expert and up-to-date advice.
Personalized Guidance: We assess your particular situation and design tailored solutions to maximize your chances of successfully obtaining your Golden Visa. Our individualized approach ensures that every detail of your case is handled with the utmost precision.
Comprehensive Process Management: We take care of every aspect of the application process, from the meticulous preparation of documentation to the submission of the application and thorough follow-up of your file. You won’t have to worry about any step in the process.
Peace of Mind and Security: We keep you informed at every stage of the procedure, providing the peace of mind that your application is in the hands of experienced professionals. Our commitment is to offer you a transparent and secure service.
Proven Results: A 98.5% approval rate for visas and residence permits. We go above and beyond to achieve this. Our goal is to help you obtain your Golden Visa quickly and efficiently. We are dedicated to delivering positive results, allowing you to enjoy all the benefits this type of residence offers.
At Lexmovea, we are committed to our clients’ satisfaction and work tirelessly to achieve their goals. Trust us to manage your Golden Visa application and begin a new chapter in Spain with full confidence.
Who is the Golden Visa for?
What is your situation?
- Outside Spain: You must apply for a residence visa for capital investors or for the acquisition of real estate at the Spanish diplomatic missions or consular offices in your country of residence. (We can, of course, assist with this process.)
- Legally in Spain: You must apply for a residence permit for capital investors.
Benefits of the Golden Visa:
- Permanent Residence in Spain: Obtain permanent residence in Spain, renewable every two years, as long as you maintain the original investment.
- Professional and Academic Freedom: Work and study anywhere in Spain without additional permits.
- Free Movement in the Schengen Area: Enjoy free travel within the 26 European countries of the Schengen Zone.
- Family Reunification: Bring your spouse, minor children, and even dependent parents to live with you in Spain.
- Legal Security: Spain’s legal framework offers strong legal protection for foreign investors.
- Business-Friendly Environment: Spain boasts a favorable business environment, a competitive tax system, and modern infrastructure.
Recent Changes to the Golden Visa
As of April 2, 2023, previous investment routes for the Golden Visa were eliminated, including investments in properties under €500,000. The minimum required investment in funds or businesses was also raised to €1 million. Currently, in 2024, there is a proposed law aimed at eliminating the Golden Visa for real estate investors, although it has not yet been approved.
Tax Implications of the Golden Visa
Golden Visa holders in Spain are subject to the general tax regulations of the country, meaning they must pay taxes on their income and assets within Spain. However, there are certain tax exemptions available to foreign investors, such as the exemption from Wealth Tax on their first property purchase in the country.
It’s important to note that obtaining an investor visa or residence permit does not automatically make you a tax resident in Spain. You can maintain your re… [continued]
General Requirements for the Golden Visa
To obtain the visa and authorization, you must meet the general conditions established for staying in Spanish territory and, where applicable, the specific conditions required for the type of visa or residence authorization for capital investors or real estate acquisition.
General Requirements for the Golden Visa
- Legal Status: Must not be residing in Spain irregularly.
- Age Requirement: Must be at least 18 years old.
- Clean Criminal Record: Must not have a criminal record in Spain or in any countries of residence over the past five years for offenses recognized under Spanish law.
- Entry Clearance: Must not be banned from entering Spain or listed as inadmissible in the territories of countries that have agreements with Spain.
- Financial Resources: Must have sufficient financial means to support yourself and your family members during your period of residence in Spain.
- Health Insurance: Must have health insurance coverage through a provider authorized to operate in Spain.
- Fee Payment: Must pay the applicable Golden Visa processing fee.
Investment Options to Obtain the Golden Visa in Spain: Specific Investment Requirements
You must make an investment that meets the required minimum amounts:
- Investment in Financial Assets:
- €2 million in Spanish government bonds.
- €1 million in shares or equity of Spanish companies with real business activity.
- €1 million in investment funds, closed-end investment funds, or venture capital funds established in Spain.
- €1 million in bank deposits within Spanish financial institutions.
- Real Estate Acquisition in Spain:
- An investment of €500,000 or more (free of encumbrances). This means purchasing property to qualify for the Golden Visa.
- Investment in a Business Project:
- Considered and certified as being of general interest, fulfilling at least one of the following criteria:
- Job creation.
- An investment with significant socioeconomic impact in the geographic area of the business activity.
- A meaningful contribution to scientific or technological innovation.
- Considered and certified as being of general interest, fulfilling at least one of the following criteria:
What is the Validity of the Golden Visa?
- Visa: Valid for one year (or six months for real estate acquisitions through preliminary contracts).
- Authorization: Valid for two years. After this period, the authorization can be renewed for five-year periods, provided the original qualifying conditions are maintained.
Can I Bring My Family if I Apply for the Golden Visa?
Yes, your family members can join you, and they can apply for the investor residence permit or Golden Visa either jointly with you or at a later time. This applies to:
- Spouse or Domestic Partner.
- Children of the applicant or their spouse/partner who are minors, or adult children who are economically dependent and have not established their own family unit.
- Dependent Ascendants in the first degree of the applicant or their spouse/partner.
Steps to Apply for the Investor Residence or Golden Visa
Procedure to Obtain the Golden Visa:
The application process is relatively straightforward and can be completed online:
- Choose Your Investment Option: Select one of the investment options mentioned earlier.
- Gather the Required Documentation: Prepare all necessary documents, including:
- Passport
- Birth certificate
- Marriage certificate (if applicable)
- Criminal record certificate
- Proof of investment
- Evidence of sufficient financial resources
- Apply for the Visa: Submit your visa application at the Spanish embassy or consulate in your country of origin.
- Obtain the Visa: Once your application is approved, you will receive the Spanish Golden Visa.
- Travel to Spain: Enter Spain within 90 days of obtaining your visa.
- Apply for the Residence Card: Once in Spain, apply for the investor residence card at the Immigration Office (Oficina de Extranjería).
Golden Visa Application
The application must be submitted in person by the applicant at the Spanish diplomatic representation or consular offices in the applicant’s country of residence. Only in exceptional, duly justified circumstances may the relevant consulate authorize the application to be submitted by a representative with proper authorization through a power of attorney. Be sure to contact the corresponding diplomatic representation or consular office to confirm the specific procedure before starting your application.
Residence Authorization for the Golden Visa
The residence authorization application must be submitted electronically through the online portal of the Large Business and Strategic Groups Unit (Unidad de Grandes Empresas y Colectivos Específicos, UGE-CE).
Processing Times for the Golden Visa
Investor Residence Permit: Applications submitted to the UGE (Large Business and Strategic Groups Unit) are resolved within 20 business days.
Investor Visa: Applications submitted at the consulate or diplomatic mission are typically resolved within 10 business days.
Detailed Guide to Obtain the Investor Visa
If you are not currently in Spain with a valid stay or residence permit and wish to obtain the Investor Residence Permit, the first step is to apply for the Investor Visa.
(Note: This visa process at the consulate can be bypassed if you are already in Spain legally when applying for the Investor Residence Permit.)
Request the project assessment report (for companies and business projects only)
Step 1: Request the Project Assessment Report (for companies and business projects only)
If you are an investor in business projects or have made the investment through a legal entity, before applying for the residence visa for capital investors or real estate acquisition at the consulate in your country of residence, you must download, complete, and sign the application for the project assessment report or investor report for legal entities (via MINECO). Once completed, you must submit the report to the Spanish Economic and Commercial Office in your place of residence.
Visa Application Form and Document Collection
Step 2: Download, complete, and sign the national visa application form, specifying the purpose of your travel. If traveling with family members, you must download, complete, and sign a national visa application form for each family member and apply for the visas together. The forms are available in Spanish, and in some cases, the relevant consulate provides a version in the local language of the country where the application is submitted. The application form is common to all visa types, except for the Schengen visa application. Before proceeding, consult and prepare the required documentation.
Schedule an Appointment at the Consulate
Step 3: You must apply for the visa in person. Only in exceptional and justified cases may the consulate allow the application to be submitted by a duly authorized representative. To process the visa at the diplomatic mission or consular office in your country of residence, you generally need to schedule an appointment.
Pay the Visa Fee
Step 4: Pay the visa fee.
To apply for the residence visa for capital investors or real estate acquisition, you must pay the established fee. In certain cases, a reduction or exemption of the fee is provided. However, the fee is non-refundable, even if the application is denied.
Submit the Documents at the Designated Location
Step 5: Go to the diplomatic mission or consular office in your country of residence to submit your documents and process your visa.
Receive or Collect Your Visa
Step 6: Once the documentation, fee payment, and requirements have been validated, your residence visa for capital investors or real estate acquisition will be issued within ten business days, as required by law. You may receive the visa at your home address or be required to collect it in person from the diplomatic mission or consular office. If your visa is denied, you will receive a notification. Once you have your visa, remember to enter Spain within the one-year validity period of your visa.
Step-by-Step Guide to Obtain the Investor Residence Permit in Spain
Complete the Application Form
Step 1: Download and complete the application form for the MI-T residence authorization for holders. This document must be attached later to your application. The official form is only available in Spanish. For convenience, it has been translated into other languages for informational purposes only. If you are traveling with family members, you must also download, complete, and sign the corresponding MI-F application form for family members to apply for the authorization jointly. Like the other form, the official version is only available in Spanish, with translations provided for reference. Before starting the application process, review and prepare all the required documentation.
Pay the Fee
Step 2: Pay the required fee before beginning the application process. To pay the corresponding fee (Fee 038 on Form 790), fill in the form fields (indicating your payment method) and download it. The 790 form for Fee 038 allows for payment in cash (depositing the amount in a bank to the account of the Public Treasury) or via direct debit (requiring you to provide account details). For this step, you’ll need to identify yourself using an FNMT-RCM digital certificate or through the Cl@ve PIN or Cl@ve Permanente system.
Submit the Application, Attach Documents, and Sign
Step 3: Once the form is completed and the fee is paid, access the procedure for “Submitting Applications for International Mobility Residence Authorization Regulated by Law 14/2013” on the electronic platform of the Large Business and Strategic Groups Unit (UGE-CE). Select the option “Submit Application” to start the process. You must identify yourself using a digital certificate or through the Cl@ve PIN or Cl@ve Permanente system. Allow the signing applet to execute to proceed with your application. After your identification is validated, you’ll access a page where you must select the type of application you wish to submit—in this case, the initial application. At the top, fill in your personal details (country, address, postal code, and phone number). At the bottom, attach all required documents. The required documentation is detailed in the first section of the process (“1. Access the electronic headquarters, fill out the form, and gather the documentation”). Additionally, you may include supplementary documents you consider relevant. Once everything is complete, check the box agreeing to the data’s electronic processing and click “Sign.” After submitting the application, you’ll receive a registration number and can download a file with the signed application and receipt of submission. Be sure to save this number for future inquiries about your application status.
Receive Notification of Resolution
Step 4: Your residence authorization for capital investors or real estate acquisition will be resolved within the established timeframe. You will receive a notification about the status of your application via the email address provided when you submitted the application.
Obtain the Foreigner’s Card for Investor Residence
Step 5: Once your authorization is approved, you must attend an appointment for fingerprinting and later a separate appointment to collect your investor residence card.
Who Processes Your Application?
Unlike the General Immigration Regime, your Golden Visa application is processed by the Unidad de Grandes Empresas (UGE), based in Madrid. However, the application can be submitted entirely online.
Applying for the Investor Residence or Golden Visa
The Golden Visa offers a unique opportunity to obtain permanent residence in Spain while enjoying a variety of benefits. If you’re considering investing in Spain and securing residence, the Golden Visa is an option you should seriously evaluate.
The Golden Visa in Spain represents a unique opportunity for those who wish to settle in Europe and enjoy all the benefits this country has to offer. However, it is crucial to understand that the application process and requirements may vary, making it essential to have accurate and up-to-date information.
The Golden Visa serves as a gateway to a European lifestyle, providing access to an excellent quality of life, top-tier education, and a wide range of business opportunities. Nevertheless, it is important to note that immigration regulations are dynamic and subject to change.
To ensure a successful application process and avoid potential setbacks, it is strongly recommended to seek advice from a specialized immigration lawyer. Professionals like Lexmovea have the expertise and knowledge to guide you through every stage of the process, from selecting the most suitable investment option to obtaining permanent residence through the Golden Visa in Spain.
Questions and Answers About the Investor Residence in Spain (Golden Visa Spain)
- What is the Golden Visa Spain or Investor Residence in Spain? The Golden Visa is a residence program that allows foreign investors to obtain a residence permit in exchange for making a significant investment in the country’s economy. In the context of Spain, the Golden Visa was introduced in 2013 to attract foreign investment through the purchase of real estate, the creation of businesses, or investment in strategic projects.
- What Benefits Does the Golden Visa Offer? It allows you to live and work in Spain, travel freely within the Schengen area, and apply for residence for your spouse and children under 18.
- How Long Does the Golden Visa Residence Permit Last? The initial Golden Visa is valid for 2 years and can be renewed for periods of 5 years as long as the investment is maintained.
- Is It Necessary to Reside in Spain to Maintain the Golden Visa? No, it is not mandatory to reside in Spain to keep the Golden Visa. You only need to maintain the investment.
- Can I Work in Spain with the Golden Visa? Yes, the Golden Visa allows you to live and work in Spain.
- How Do I Renew My Golden Visa in Spain? You must renew the Golden Visa every 5 years, proving that you still meet the required investment and original conditions.
- Can I Apply for Spanish Citizenship with the Golden Visa? Yes, after 10 years of legal residence in Spain, you can apply for Spanish citizenship if you meet the legal requirements.
- How Long Does It Take to Obtain the Golden Visa? The application resolution period is approximately 20 days from the date of submission.
- Can I Apply for the Golden Visa for My Family? Yes, you can apply for the Golden Visa and include your spouse, children under 18 or dependent adults, and dependent parents in the application.
- Is the Golden Visa Program Coming to an End in Spain? The Golden Visa program in Spain has faced debates and criticism in recent years, raising uncertainty about its future. However, as of now, there has been no official announcement regarding its termination. Still, it is highly likely that the Golden Visa program in Spain may eventually be eliminated.
- Is It Necessary to Hire a Real Estate Agency to Process the Golden Visa? No, it is not strictly necessary to hire a real estate agency to process the Golden Visa in Spain. However, obtaining personalized advice is highly recommended.