What Does Golden Visa Provide?

Golden Visa is an investment-based program that provides permission for both working and residing in Spain. Non-EU citizens who meet the required investment conditions can apply for a Golden Visa. They can benefit from its privileges as long as they keep their investments held in reserve. It is also called an “Investor Visa” or “Investment Visa”.

Any Non-EU citizen over 18 years old who has no criminal record and has not been barred from any Schengen country can apply for a Golden Visa.

What benefits does the Golden Visa offer?

The Golden Visa program provides extensive rights to an individual who has made a big-budget investment in Spain. Compared to the Non-Lucrative residence permit, the Golden Visa is a bit more comprehensive authorization.

• Residency and work permit in Spain. Visa holders can earn their living by finding a job in any autonomous region. Family members who are granted a Golden Visa through the joint application are also allowed to work according to the fourth additional provision of Law 14/2013.
• Traveling freely in the Schengen Zone. Foreigners who are granted Golden Visa can travel to 26 countries in the Schengen Zone with a valid travel document. The duration of travel must not exceed 90 days in 6 months.
• Joint-application opportunity including the dependent children or relatives and unmarried partners or spouses. Similar to the Non-Lucrative residence permit, first-degree family members can apply simultaneously for a Golden Visa. The application for the minors must be submitted by their parents.
• Right to benefit from public services, including education and healthcare. Golden Visa holders can both study and get medical support in Spain.

What Are the Investment Instruments to Apply for a Golden Visa?

There are 4 types of investment instruments that are eligible for a Golden Visa: Real estate, Spanish company shares, Spanish Public Debt securities, and Spanish capital funds.

• The least purchase amount for the real estate investment is determined as 500.000 €.
• The minimum investment amount for a Spanish company’s stocks or shares is 1.000.000 €.
• The minimum amount for a Spanish capital fund is determined as 1.000.000 €.
• The Spanish Public Debt securities’ minimum investment amount is 2.000.000 €.

Foreigners can buy property in Spain and get residency, but the real estate must be worth at least 500.000 Euros. The 500.000 € does not have to be invested in a single property. Investors can buy multiple properties worth at least 500.000 € in total.

Also, the whole investment must be self-funded and paid in full. If mortgage loans were used as a finance source for property investment, your Golden Visa application might be refused.

In addition, having financial means is also among Spain residency requirements while applying for Golden Visa. Same as for the Non-Lucrative Visa conditions, the applicants are obligated to submit proof of sufficient sources of income.

The stated sufficient fund must be %400 of that year’s IPREM index. An additional fund amount equal to %100 IPREM is required for each family member.

Renewal of Golden Visa and Applying for a Permanent Residence Permit in Spain

In order to get a permanent residence permit in Spain, investors and their family members must complete the 5 years of Spain residency by investment that the Golden Visa provides. The applicant can renew their permits if they won’t dispose of their investments and still meet the other conditions.

At first, the applicant and their family members are given an investor visa which is valid for one year.

Secondly, the applicant should apply for an initial permit to live in Spain for 2 more years. This residence permit will be valid for two years and can be extended further.

After living for 5 years in Spain, the applicants should apply for a long-term residence permit that provides 5 more years of residency. If the expat has lived for at least 10 years in Spain legally, they can apply for Spanish citizenship.

Get Your Residence Permit with TekceVisa in the blink of an eye!

We suggest that these hard-to-follow legal procedures must be managed with a legal advisor step-by-step. The guidance of a trusted advisor would ease the process and increase the chance of approval by a lot.

The professional and experienced team of TekceVisa is ready to guide you through the whole process. Check out our blog pages and contact us to take the first step on this exciting journey leading to your dream life in Spain!