Non-resident foreigners can apply for Spanish Residency, also known as Spain Golden Visa, upon investment in one of the following options:
1. An initial investment with a value equal to or above 2 million Euros in Spanish public sector debt securities, or for a value equal to or above one million Euros in shares or capital shares in Spanish companies, or bank deposits in Spanish financial institutions.
2. The acquisition of real estate in Spain with a value equal to or above 500,000 Euros for each applicant.
3. A business project to be developed in Spain and which is considered to be and certified as being in the general interest, for which at least one of the following conditions must apply:
(a) Job creation.
(b) Making an investment with a relevant socioeconomic impact in the geographical area where the activity is to be carried out.
(c) Making a significant contribution to scientific and/or technological innovation.
Benefits of the Spanish Residency (Spain Golden Visa)
- Allows investors entering and staying freely in Spain for 1 year. If the investment is maintained, the residency will be renewed for 2 years and periods of 5 years after that.
- Allows to circulate freely and without restrictions in the ‘Schengen area’.
- Possibility to acquire Spanish Citizenship.
- No minimum period of residence in Spain for its renovation.
- Together with the investor, his family: spouse and children under 18 years of age or above who are still economically dependent on the investor and have not formed their own family unit yet can request the visa.
- Investments may be spread over several properties.
Investor Residence Visa in Spain
At the beginning of the process, investors may apply for a normal 90 day tourist visa in order to inspect the selected property/properties in person. Once in Spain, it is possible to sign a Power Of Attorney giving HispaLux Consulting the power to act on your behalf in the buying and residency process.
Likewise, if the investor selects a property remotely and doesn’t have the time to travel to Spain, it would be possible to issue a Power Of Attorney from the home country.
This one-year Residence visa will be approved by the local Diplomatic Mission or Consular Spanish Offices at the investor´s country of residence and shall be processed within 10 working days.
After the first year, investors can renew the Residency as long as the minimum investment is maintained. The Residence Authorization enables the investor and its family to live in Spain for two more years and which can be renewed biannually indefinitely.
Although in order to be eligible to apply for the Residence Authorization the applicant must have travelled to Spain at least once during the first year, there is no obligation to stay within the Spanish territory for a specified amount of days. Therefore, investors can remain tax resident in their home country while benefiting from Spanish residency and the total freedom of travelling and staying within the European Union.
Applications for the Residence Authorization shall be processed within 20 working days.
Spanish Residency FAQs
What is the minimum residency period required during the year of the investor visa and the subsequent two years of authorization of residency, if the investment is maintained?
During the year of the investor visa and in order to apply for the authorization of Spanish residency, it is necessary to have travelled to Spain at least once during the period authorized for residency. In this way, only the entry into Spain is required, without a minimum stay. It is not foreseen that during the two subsequent years of authorization of residency there be a minimum stay required.
How many extensions of the authorization of residency may be granted, subsequent to the issuing of the visa?
The Residence Visa will be issued for and will give the right to reside in Spain for one year. Subsequently, it is possible to obtain an Residence Authorization for two years. If the conditions that granted the right continue to exist, it will be renewed for 5 more years.
Is it possible to acquire Spanish nationality under the residency regime contained in the Law of Entrepreneurs? What is required to prove that an applicant for citizenship is rooted in Spanish society?
Spanish and European citizenship will be given after a total of 10 years of residency. At that point, the Spain Golden Visa will allow the investor and its family to live, work or study anywhere in Europe within the European Union. The general immigration law establishes that this form of acquiring Spanish nationality requires that the person reside in Spain legally for ten years continuously immediately prior to making the application. In addition, the interested party should provide proof of civic behavior and a sufficient degree of integration into Spanish society.
Is it possible to gain access to the Spanish educational system under the residence regime established in the Law of Entrepreneurs?
According to Spanish regulations, foreigners below 16 years of age will have the right and the obligation to access a basic, free and mandatory education. Foreigners who are older than 16 years of age but less than 18 years of age have the right – but not the obligation – to obtain additional non-compulsory school education.
Residents over 18 years of age also have access to tertiary education.
Does the visa or authorization for investors allow a person to be self-employed in Spain?
The residence visa for investors does not constitute a residence and work visa. Therefore, investors may not work, which does not prevent them from seeking a residence and work visa once they are in Spain, or it being granted to them.
If the investment consists of the purchase of a property, can said property be sold and the investment be maintained by acquiring another property for a minimum of 500,000 Euros?
The investor must show that he has maintained the investment at a value equal to or superior to the minimum amount required. The applicant for the authorization of residence should demonstrate that the investor is the owner of the property or properties in the amount of 500,000 Euros, free of liens and encumbrances. The part of the investment which exceeds the amount required can be subject to charges or encumbrance.
To that end, the applicant should present the certificate or certificates of ownership from the Property Registry that corresponds to the property or properties and it should be dated within 90 days of the presentation of the application.