The residence visa for investors, commonly known as Golden Visa is a formula that allows access to the benefits of a residence permit in exchange for an economic investment.
The objective of the Golden Visa, approved in Spain in 2013 and also valid in other countries such as Malta, Portugal or the United Kingdom, aims to encourage real estate demand and attract foreign capital by facilitating the obtaining of a residence permit.
This visa is based on the measures contemplated in Law 14/2013 to support entrepreneurs and their internationalization, which also includes residence for those who make other types of investments: acquisition of public debt securities for more than two million euros, investment in shares of a company or deposits in financial entities for more than one million euros, or who come to develop a business activity that is considered of general interest and generate jobs.
The gold visa is intended for citizens who do not belong to the European Union and who acquire real estate in Spain for a minimum of 500.00 Euros free of charge. The investment can be higher than that amount and have resorted to a loan, but the first 500,000 euros of the investment should not have any type of burden.
The regulation does not specify that the investment must be made in a single real estate. It can be, therefore, the sum of several, but at least one usually corresponds to the house that is determined as usual in Spain.
Applicants must also have a criminal record and demonstrate their own financial resources to reside in Spain. The initial duration of the visa is one year if the investment has already been made, or six months if it has not yet been formalized, but there is a pre-contract with guarantees.
The preferential treatment of the golden visas simplifies the processing of the residence permit of both the first immediate grant valid for one year and the renewals every two years.
In addition, the visa of residence derived from the Golden Visa allows to circulate freely by the rest of the 26 European countries of the space Schengen. This freedom of movement stands out as one of the main reasons for processing the visa for real estate investment. The Golden Visa makes the granting of visas more flexible not only for the person making the investment but also for their spouse and for children under 18, and access to public schools. Newborns in Spain will obtain a Spanish passport at the end of the year, without having to comply with any other requirement.
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