10 mistakes to avoid golden visa

10 Mistake To Avoid Golden – Visa.

10 mistakes to avoid – golden visa.

The Residence Authorization as an investor that is commonly known as Golden Visa, is a type of residence that provides many advantages.

The Golden Visa turns out to be a very striking alternative, usually available for people who want to invest in Spain in Real Estate with a value of more than 500,000 euros, free of encumbrances.

It is also possible to apply to this select permit through deposits in a bank in Spain for an amount greater than 1,000,000 euros, among other options.

Today I will not go into explaining the advantages related to the possibility of residing and working in Spain, with the advantage of not considering the calculation of absences from Spain, etc.

So I want to comment on the 10 mistakes to avoid in Golden Visa.

1.- Change the type of investment or not maintain the initial investment. 10 mistakes to avoid golden visa

It is common for this type of error to come to light at the time of renewal of residence as an investor, but it can also happen that the error already exists since the initial application.

Investment Ownership and initial error Such is the case dealt with in the Judgment of the Superior Court of Justice of Madrid (hereinafter and for all STSJM references) 6387/2019 of July twenty-ninth, two thousand and nineteen, Resolution 499/2019; Resource 2/2019.

In this particular case, it was an application for residence as an investor as a result of the purchase of real estate.


The purchase was carried out proindiviso by a marriage of foreign citizens under community of property.

This marriage was accompanied by a daughter in common, who also obtained a residence permit as well as her parents.

Well, in this case, although the purchase was for a value of 711,000.00 eur that obviously exceeded the minimum value established by the standard.

Due to some mistake of the administration itself in not taking into account that it was a marriage in community of property regime, it wrongly granted the initial authorization.

Problem detected in renewal

It is at the time of renewal when it detects that those 711,000 should not have allowed the concession.

Since when it comes to a marriage in community of property, the minimum amount of the investment of 500,000 euros must be reached by each of the members of the couple.

Note then that in this case the error could have been avoided by having taken into account the legislation, the Jurisprudence and by the fact of having good legal advice from the beginning.

Error not maintaining the Initial investment type

As I had mentioned, the Golden Visa allows a foreign citizen to access a residence and work permit in Spain not only for the purchase of a property, but also through another type of investment.

The fact of having obtained a residence permit for the purchase of a real estate property and then pretending to renew the permit without having maintained the ownership of the property is a sign of not having maintained the investment.

It is worthless if at the time of the renewal you have another type of investment. If you do not maintain the initial investment, you will not be able to renew later.

In other words, if you bought a chalet for more than 500,000 euros, then you sold it or it simply is no longer in your name, then you must know that you will have problems at the time of the renewal.

Even if you have changed the type of investment, such as a bank deposit for an amount greater than 1,000,000 euros in a Spanish bank, you will still have problems with the renewal.

Maintain requirements at the time of renewal

Renewal requires that continue to maintain the initial investment, regardless of what you want to invest.

You should not change the type of investment from article 63.2.b), for example, to 63.2.a) of Law 14/2013.

Example of this error

An example of this type of error can be found in STSJM 12050 of June 12, 2020, Resolution 288/2020, Resource 1072/2019.

In this case it was a national citizen of Russia who had acquired as a natural person real estate for an amount greater than 500,000 euros.

At the time of renewal, he held ownership of half of the shares in a company to which he had contributed these real estate for its constitution.

These real estate assets were subjected to exploitation through urban leases, but regardless of the use of the property, the error consists in the change of ownership.

The Failure to maintain ownership of the property represents in turn the non-maintenance of the initial investment.

In the same vein we find the STSJM 2565/2020 of January thirty-first two thousand and twenty, Resource 702/2020; Resolution 83/2020.

2.- Social participations. 10 mistakes to avoid golden visa

The social participations do not escape of being the object of some of the errors of the investors.

Such is the case of what was commented on in STSJM 11485/2019 of October twenty-first, two thousand and nineteen, Appeal 412/2019; Resolution 636/2019.

This judgment addresses the problem of renewing a residence permit as an investor under Law 14/2013 of a foreign citizen who owns company shares that, since the initial residence, were less than the minimum established.

What does Article 63.2.a) establish?

“An initial investment for a value equal to or greater than two million euros in Spanish public debt securities, or for a value equal to or greater than one million euros in shares or social participations of Spanish companies, or bank deposits in Spanish financial entities”.

On May 4, 2017, the citizen presents a deed of sale of company shares dated February 17 of the same year, acquiring 2,600 company shares out of a total of 5,000 company shares.

Previously, he had made a participative loan to the company for a value of 420,714.17 euros, but even so, this figure did not reach the minimum for this type of investment and residence.

We see that it does not matter if the capital of the company is increased, it does not matter if the annual turnover has been greater than 10,000,000 euros, the important thing is to comply with the minimum investment established by the standard to avoid errors and problems both in a
Investor´s initial residence and in its renewal.

3.- Join ownership (PROINDIVISO). 10 mistakes to avoid golden visa

Fortunately there are several sentences about the co-ownership in the investment of real estate, they are favorable to the investor.

TSJM Ruling 2137/2018 deals with the case of a family of Chinese investors consisting of a grandmother, her daughter, her partner and a minor grandson.

The investing family had acquired the property in Barcelona for an amount greater than 1,000,000 euros, of which 50% belonged to thegrandmother and the other 50% to the daughter. Her daughter, her partner and her youngest son were able to obtain a residence permit as an investor, but the mother who had the other 50% was denied that permit.

What does Article 63.2.b establish?

This Judgment comes to understand that article 63.2.b) does not limit the minimum investment of 500,000 euros of a specific property, on the contrary said value is limited to each applicant.

The grandmother must obtain the residence permit for being one of the co-owners and owner of 50% of the property, being her daughter the owner of the other 50%, so the daughter could well transfer the right of residence to her partner and son as accompanying non-investment family
members who are not holders of the investment.

In this same vein we have the STSJM 2879/2019 and the STSJM 11462/2020, although thelatter referred to a case of 4 brothers who in 2016 acquired jointled (Proindiviso) a property for a value of 4,600,000 euros and encumbered with a 2,300,000 euros mortgage.

4.- Errors in the Property Deed. 10 mistakes to avoid golden visa

As I had already mentioned, it is not enough to just make the investment and then apply for the visa at the Spanish Consulate in your country of origin or,alternativaly to apply for the residence permit in Spain.

It is important to be well advised from the beginning, fulfill all the requirements and review the documentation well before applying for the golden visa.

Example of a statement in this type of error

STSJM 8894/2017 of July twentieth, two thousand and seventeen is a clear example of the mistake of buying a real estate and not reviewing the content of the deeds.

This judgment analyzed a case in wich some subjects acquired jointly (Proindiviso) 6 lots ofland added up to the amount of 1.000.000eur.
They were rustic and developable properties, a purchase value of 90,000 euros had been determined due to an error in the deed.

The initial deeds indicated that the amount of 90.000eur contained the value of the property and also machinery, trailers, tractors and farm implements.

Fortunately, once the visa was denied by the Spanish Consulate in Mumbai, the interested parties went to the contentious – administrative jurisdiction, arguing and demonstrating that it was an error in the deeds.

5.- Failure to renew the residence permit in the timely period. 10 mistakes to avoid golden visa

Making an investment in Spain is fine, but it is even better not to forget the validity of the document that distinguishes the investor.

The STSJM 4847/2021 of April twenty-seventh, 2021 deals with the non-admission of residence renewals to two people who only had an investor visa.

It must be remembered that a visa is a temporary mechanism that allows a foreigner to enter aspecific country and for a specific time and reason.
It is common that over time the visa is confused by some people as a residence permit.

What is the right thing to do to avoid inadmissibility?

The correct thing in this case to avoid this inadmissibility for processing error, was to have applied for the initial residence authorization as an investor and one year later request its renewal.

From my point of view, these people have wasted excellent time by not being well advised on investor residency matters.

You can’t renew something you haven’t had, and I’m not referring to the investment but to the residence permit.

The sentence has been partial, that is, it recognizes that the resolutions of inadmissibility for processing as well as the dismissal of administrative appeals are not adjusted to law, ordering the retroaction of actions.

Therefore, the process had to practically go back, waiting for the Large Businesses Unit (UGE) decide on the granting of the renewals.

When applying for a visa or a residence permit as an investor, care must be taken to demonstrate not only family ties but also that the family member that is intended to be included in the holder’s application may be considered a dependent family member. From applicant.

In other words, anyone can apply for a visa or residency for a relative, no one says or questions that it is not a relative.

But the link is not everything, it is also important to show that this family member depends on the owner.

What should be understood by being in charge or what depends on the owner?

There must be evidence that the family member is financially dependent on the owner, either because the dependent does not have a source of income, because he lives with the owner or because, although he has his own income, it is insufficient.

It may happen that the family member suffers from an illness that makes coexistence and physical dependence of the holder necessary.

The real situation of the relative in the country of origin must be demonstrated, a situation that includes elements such as the absence of other relatives, the absence of real estate in his name, the absence of income, etc.


Usually the relative who depends is an ascendant, for example, father or mother, grandmother or grandfather of the holder, non-emancipated siblings or with some disability.

As for the descendants of the owner, it is understood that if they are minors, by law they depend on their father or mother who holds the authorization as an investor.

In fact, Law 14/2013, of September 27th, on support for entrepreneurs and their internationalization, does not mention or establish any point regarding family dependency or the figure of being in charge that is usually applied in the general immigration regime (RD 557/2011) and in the community regime RD 240/2007).

It only raises a requirement that falls on the investor himself in terms of having sufficient economic means for the investor himself and for the rest of his family.

Some examples of unfavorable Judgments regarding investors and dependent family members would be:

  • STSJM 582/2019 of January seventeen, two thousand and nineteen.
  • STSJM 2138/2021 of February twenty-second, two thousand and twenty-one.

The nationality of the investor or his own relatives is also an issue that causes problems of denial of visas and Golden visa residence.

Importance of not belonging to the European Union

It should be borne in mind that citizens with nationality of a member country of the European Union, in principle, do not apply the benefits of Law 14/2013.

This is because these citizens have freedom of residence and movement Therefore, seeking authorization in Spain as the owner of an investment or as a relative of the investor having a nationality belonging to the European Union is incompatible with the principle of free residence and movement of a national of any EU state.

Being the correct thing to apply for a residence as an EU member or EU family instead of applying for a residence as an investor of Law 14/201.
This is established by STSJM 12247/2020 of October second, two thousand and twenty.

7.- Criminal record at the time of residence renewal. 10 mistakes to avoid golden visa

Law 14/2013 does not establish anything regarding the criminal record of the investor or his relatives.

As we have already seen, in contentious-administrative proceedings, a reference is usually made to the general regulations (Law 4/2000 and RD 557/2011) as well as to STJUE regarding the indeterminate legal concept of “Being in Charge” and its elements.

Therefore, it is not surprising that also in terms of Golden visa, the reference to regulations of other regimes is followed to grant or deny a renewal of investor residence of the holder or his relatives.

Integration and adaptability to society

It is normal that the foreign citizen, even if he is within a special regime as is the case of investor, must abide by norms and behaviors of good integration and adaptability to society.

Taking into account the above and knowing that for initial residence as an investor, article 62.3.c) requires the absence of criminal record, it is normal for any criminal record to negatively influence a renewal of the Golden visa.

This added to the requirement of article 67.2 for the moment of renewal of the residence permit in which it is established that in the renewal the requirements that allowed the granting of the initial residence must be maintained.

Therefore, it is normal and sensible that for a renewal the investor or his relative should not have a criminal record in Spain.

Disturbs public order or security

However, from my point of view, the type of crime, serving the sentence, repetition of the conduct should be assessed and whether said crime disturbs public order or security, as is usually done in the general regime.

In this way, an order can be maintained in the immigration policy but without affecting acquired rights or generating damages that are difficult to repair for those people who commit an error whose entity is not alarming at the time of the renewal of residence article 31.7 of Law 4/2000.

Example of a statement

A clear example of reference to the general regulations and dismissal of the right to renew residence as a relative of an investor is represented by STSJM 13666/2020 of November third, two thousand and twenty.

That sentence addresses a renewal of residence of a spouse of an investor convicted by a final sentence for a crime of driving under the influence of alcoholic beverages, toxic drugs, narcotic or psychotropic substances.

8.- Irregular stay. 10 mistakes to avoid golden visa

To understand the situation of irregular stay, it is enough to bear in mind the opposite, what does a regular stay mean?

In this regard, article 30 of Law 4/2000 establishes that the stay is the permanence in Spain for a period of time that does not exceed 90 days and in the event that these 90 days are to elapse before, it must be requested and justified the extension of stay.

If you are not in Spain you can make the investment through a representative. If you are in Spain you can make the investment yourself.

Apply before 90 days of entry into Spain

But in the case of requesting the residence permit while in Spain, that stay must not exceed 90 days from the date of entry into the country.

The STSJM 1740/2019 of February fourteen, 2019 includes this problem although it does not go into the background of the regular stay.

It can be seen that in this case the investor citizen had barely 5 days in Spain, so his situation at the date of the residence application was a regular stay, although finally the right was denied, but for not having accredited the investment of 500,000 in real estate.

You just have to keep in mind that if you are outside of Spain you can apply for the Residency Visa for an investor at the Spanish Consulate.

In the event that you are legally in Spain, that is, within 90 days or have an investor visa, we can request the residence authorization on your behalf.

9.- Incorrect accreditation of the investment.

Unfortunately, sometimes the right to apply for a visa and residence as an investor is confused with non-lucrative residence.
Both have similar comparative signs but only from the point of view of the amount of economic means that must be available to live in Spain.

But it turns out to be a mistake to think that having only these economic means, it is possible to obtain the residence permit as an investor.

The latter goes beyond the simple possession of that means since it obviously requires a significant investment.

For example:

  • Acquisition of real estate for an amount greater than 500,000 euros
  • Opening of accounts in Spanish banking entities for an amount greater than 1,000,000 euros
  • Purchase of public debt bonds an amount greater than 2,000,000 euros, etc.

The STSJM 7745/2019 of April eighth two thousand nineteen addresses a case of a foreign citizen who, after acquiring a property for an amount of 20,000 euros, intended to access the Golden visa together with 3 members of his family unit.

Insufficient Financial means, including for non-profit residence

Being that for the non-lucrative residence it was necessary to have at least 45,178.21 euros for the entire family unit and at that specific time.

Another case of incorrect accreditation of the investment in the purchase of real estate is found in STSJM 2196/2019 of February twenty-eight, two thousand and nineteen.

Domain certificate and charges

In order to prove the investment of a sale, it is important to provide a domain certificate and charges issued by the Property Registry.

The certification “domain and charges” or “certification of the farm”, collects current data on the complete description of the property, owner, lease and usufruct rights that may have been constituted on that property.

But in addition, it reflects the burdens that weigh on the farm, that is, mortgages, embargoes, easements, fiscal affections, etc.

That is, it indicates that the real estate is free of any charge.

Avoid simple property notes

It is important to point out that before the Large Businesses Unit (UGE), simple informative notes are not valid to demonstrate the acquisition and its details.

Presenting a residence authorization as an investor before the UGE using a simple note, results in a denial of said residence because it is not a completely reliable and rigorous document.

This Judgment also concurs with the applicant’s error in not meeting the request made by the UGE.

Lastly, the fact that the investor has allocated part of the 505,000 euros of the value of the 211,000 euros operation to cover the mortgage that weighed on the property should not be confused as part of the investment.

10.- Late submission of documents.

The Golden visa is a residence authorization in which an administrative procedure is previously carried out.

In other words, the procedure goes beyond investment in the vein that, like any administrative procedure, it consists of a residence permit application phase.

It may happen that during the processing, the administration needs the foreign citizen investor to provide more documentation (requirement).

When a requirement arises, there is a certain period for that citizen to comply with the administration’s requirement and provide the required documents.

Risk of not answering requests

If the requirement is not met in a timely manner, his request may be affected.

An example of denial of residence as an investor for not meeting a requirement can be found in STSJM 2863/2019 of March 8, 2019.

That requirement demanded the provision of a favorable report from the UGE, regarding the need to be able to demonstrate whether the reasons of general interest that were initially accredited had been fulfilled or maintained.

If a requirement is not met in a timely manner, it is useless to have previously met all the requirements.


Keep in mind that an error related to the main owner of the investment can cause the loss of the initial residence permit or its non-renewal for the rest of the relatives who depend on the main applicant.

It is always important to consult your case with a Specialist Golden visa lawyers in Spain.

Behind the multiple benefits that a residence permit as an investor can bring, there may be mistakes that must be avoided in order to obtain and maintain the right of residence.

Lino García
Lawyer for golden visa in spain

How Can You Obtain Your Golden Visa Step By Step?

As we have commented in previous entries, the Golden Visa is simple to apply to and has short processing times. The most important thing is to make one of the investment types (click here to see investment types), the rest will be reduced to simple procedures. We will explain how this process is carried out and how we can help you. Your time is extremely valuable. Let’s see how you can obtain your Golden Visa in Spain, step by step. Read our post

What To Do If Your Application Is Denied?

Even though the UGE-CE may deny your application, that doesn’t mean that there is nothing else you can do. The best way to proceed is to file an administrative appeal with the General Secretary, which has 1 month to notify its decision. And even if the result is not favorable, you can still file a contentious administrative appeal within 2 months. During this process, our professionals can take you by the hand so that through these appeals they can re-study your case and grant you a Golden Visa without needing to worry about anything else.
Read our post

What is the main benefit of the golden visa?

When talking about the application process benefits, it’s impossible not to emphasize repeatedly how fast it is compared to other Visas. Another point that talks about the efficiency is the possibility of renewing the residence without taking into account periods of absence of the investor from Spain

what’s golden visa?

It is a residence permit or authorization that also allows to work in Spain, it is a permit in which absences or departures from Spain are not taken into account, it is a permit that is processed by the large enterprise  unit and strategic groups (UGE) and whose regulations are established by Law 14/2013, of September 27, on support for entrepreneurs and their internationalization.

Golden visa vs d7

Other people also ask about golden visa portugal how it works.
Let’s say that the main difference lies in the fact that the foreign citizen must stay in Portugal for at least 7 days a year, while the D7 and D2 visas require a continuous stay in Portugal, i.e. between six to eight months.

golden visa and tax residence

This is a recurring concern for many investors. In order to determine whether a foreign citizen should be taxed in a specific country, it is important to know their nationality, habitual residence, worldwide income, double taxation agreements, etc. Our firm has professionals who are experts in international taxation so that any investor can have peace of mind when applying for a golden visa.

who gets golden visa in uae

The golden visa in the United Arab Emirates, like the golden visa spain, is a very selective residence and work permit that allows  to stay in the UAE for 10 years.

Golden visa for Brits

After Brexit, the golden visa is one of the alternatives for those Britons who want to reside in Spain through an investment and be within the special regime of Law 14/2013.

Golden visa for Russians

Given the current situation, there is information  that the Spanish Government has suspended until further notice golden visa applications for citizens of this country, on the other hand, other information suggests that they are only suspended for certain persons related to the Russian Government.

Golden Visa Barcelona

Barcelona is one of the main cities in Spain that draws the attention of foreign investors. Remember that if you are interested in investing, you can do it anywhere in Spain. Remember that from the office we can represent you, review the golden visa requirements and on your behalf, apply for golden visa for investors in Spain.

Golden visa ras al khaimah

The silver visa that allows residency in the United Arab Emirates for a period of 5 years or the golden visa that, unlike the previous one, allows residency for a period of 10 years are options for a foreign investor, all without the need for a national sponsor.

which countries have golden visa?

The main countries are: Spain, Bulgaria, Portugal, Ireland, Greece, Italy, Malta, Luxembourg, Cyprus, Netherlands, United States, United Kingdom, Canada, Australia, Latvia and New Zealand

can golden visa sponsor family / can golden visa holders sponsor parents?

The Golden Visa allows family members to benefit from the holder’s residence permit. They must be immediate family members, spouses, minor children, adult children and parents of the holder who are economically dependent.

can you work on a golden visa?

Of course you can work in Spain with a Golden visa, in the same way the family of the investor of working age can work.

how much is golden visa?

The answer to this question will depend on the type of investment.

where to apply golden visa?

If you are in Spain and have already made the investment, the application must be made electronically to the large enterprise  unit and strategic groups. If you are outside of  Spain you can apply for a visa as an investor, in either of the two modalities we can help you from our office.

can engineers get golden visa

The answer is yes, it doesn’t matter if you are an engineer, teacher, student, etc. Anyone who meets the requirements for the investment can obtain the Golden visa

what golden visa means?

Everything will depend on the preferred country for your investment, you can’t talk about the best Golden visa for a specific country.

6 thoughts on “10 Mistake To Avoid Golden – Visa.”

  1. Thank you very much for all this information, it seems that you are an expert lawyer in golden visa. It is very gratifying to know that there are people like you who share valuable information about the golden visa and the mistakes to avoid, regards

    1. Thank you for your comments, because to be able to address these issues, you not only need to know the golden visa regulations, but also the judgments that have resolved complex situations. For this reason, I wanted to convey to users what really happens and the errors that must be avoided in the golden visa.

  2. Good morning, my question is about the issue of not renewing the residence permit in due time. My residence as an investor in Spain expired on January 20, 2023. More than a permit, it was a visa, because I thought I had to renew the visa and I did not notice that it was a renewal in the CGU, yesterday (3 months and 5 days later) I managed to request the renewal, do you think that a lot of time has passed? Will I have problems with my golden visa renewal? I look forward to your help and response.

    1. Thanks for writing. First at all, it must be taken into account that an investor visa is one thing and a residence permit is another. The normal thing is that you do not have to live and reside in Spain all your life with a visa, for this, there is the figure of the residence permit, they are two completely different things. I’m afraid you missed the 90-day period to apply for the permit or its renewal. However, there are favorable sentences in cases such as the one you raise. I can only tell you that the UGE will most likely deny you the permit and you will have to go to the contentious-administrative process (demand) I remain at your disposal in this case.

  3. I have to renew my residence permit as a relative of an investor but I have a pending trial and I do not know if I will be convicted of a crime of driving under the influence of alcohol, could that affect my right to renew the residence permit?

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