There are many doubts that you let us know every day about numerous issues related to the Spanish nationality and other immigration issues. Therefore, we thought it would be useful to collect in this article some of the FAQ that you often ask us. Here are several key questions about the Golden Visa.
In future publications, we will solve more questions. You just have to leave a comment with the information you want to know, and we will help you. Here we go…
1. Who is the Golden Visa designed for and how long does it last?
The Golden Visa is a residence permit designed for foreign investors who don’t belong to the European Union and want to reside or work in Spain.
It can be obtained by a purchase, or an investment and it has a 2-year validity. After this time, you will have to request the renewal of your Golden Visa to the Unit of Large Companies and Strategic Groups, since this type of application is UGEs responsibility and not of the Immigration Office.
2.How much money do I have to invest in Spain to get the Golden Visa?
You must invest an amount of 500,000 euros in real estate if you want to be authorized to reside as an investor in Spain.
In addition, you can apply for the Golden Visa whether you buy a single house for a value equal to or greater than 500,000 euros, or if you acquire several houses or properties that sum up to that same amount.
As it is a complex procedure due to the initial outlay it requires, it is best to have the help of an expert advisor on the subject to inform and guide you during the process.
3. If I already bought a house in Spain years ago, am I entitled to the Golden Visa as a foreign investor?
It depends. You can only have access to this residence permit as an investor if you acquired such house after the Entrepreneurs Law had entered into force.
From the day after its publication in the Official Spanish Gazette, on September 28, 2013.
If, for example, you made the purchase in 2012, you would not be able to benefit from this authorization.
4. Could you make the investment through a company?
Yes. The Law allows this option as long as these two premises are met:
- That the company is not located in any territory that can be considered as a tax haven.
- That as an applicant, you have the majority of the voting rights and the license to be able to appoint or dismiss the directors of the company.
5. Can I apply for the Golden Visa with a mortgage?
One of the requirements stipulated by the Law to acquire the residence permit is that the investment of 500,000 euros is free of charges and taxes. However, a mortgage or other lien may be constituted for the part of the price that exceeds 500,000 euros.
6. Can I work in Spain with this residence permit?
That’s right. With the Golden Visa you have the right to live and work throughout the national territory. Also, you can be employed by others or be self-employed.
On the other hand, this authorization allows you to travel freely through the 26 European countries that make up the famous Schengen Treaty.
7. Is it possible to make an investment with another person?
It is, but only in some cases. It is true that the Law allows the investment to be made jointly and to acquire a property in co-ownership. However, it is important to know that even so, each person who wants to obtain such residence authorization must make a minimum investment of 500,000 euros.
It is advisable to highlight the advantage that, as a holder of the Golden Visa, the reunification of your relatives can be done. Specifically:
- Spouse or unmarried partner
- Minor children and dependent children of full age.
- Dependent relative in ascendant lines.
In addition, they will be able to process their residency at the same time as you, simultaneously. For this reason, whenever it is possible, obtaining residence and reuniting your relatives with the authorization of the Golden Visa will be the best option.
Important❕ : once the investor’s visa or residence expires, the visas or residences of the members of his or her family will expire as well.