An easy, simple and fast process to obtain your golden Visa
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.
Prerequisites to apply for the golden Visa
The most important requirement is to make one of the different types of investments to apply for the Golden Visa. However, there are others prerequisites to meet before applying. Here’s a list of what these are:
- Starting with the simplest, to apply for the Golden Visa, you cannot be in Spanish territory irregularly. You can enter Spain as a tourist and make the investment, or you can also come with an investor visa.
- You need to be of legal age. The age of majority in Spain is from 18 years old.
- You must have contracted a medical insurance with sufficient coverage for repatriation, without co-payments, with no deficiencies. It is true that you can take out private medical insurance in your country that is authorized to operate in Spain, but our recommendation is that you take it out once you arrive in Spain to reduce the risk of visa or residence permit denial.
- Have a valid passport for you and your relatives (in the case of wanting to include your direct relatives in the program).
- You cannot have any criminal record either in Spain or in the country where you have resided during the previous five years.
- Demonstrate that you have sufficient economic resources to live in Spain and support your family. (54,230.40 euros per year and an additional 13,557.60 euros for each family member).
- (If applicable) the documents must be translated by a sworn and accredited translator in Spain. The documents must also be legalized or apostilled.
Discover the best form of investment to qualify for the Golden Visa and how to prove the investment.
As we explained in our previous article (and that you can consult here) there are different types of investment that you can make in Spain that will open the door to the residence permit. Each one has its own way of being accredited and its peculiarities. Let’s take a look at them:
Real estate investment
Real estate investment is usually the most common and chosen by investors and entrepreneurs. Being able to acquire one or several properties in Spain that added together reach the amount of €500,000 allows a good start. To prove the purchase of the real estate, you need to present the certificate of acquisition of the property issued by the Land Registry and the deeds of sale. It should be added that to apply for the Golden Visa through this form, any taxes must be settled, the purchase has to be made without a mortgage or bank loan.
The yield of public debt has dropped a lot in recent years, but some companies know how to take advantage of the characteristics of this form of investment. You must invest a minimum amount of €2,000,000, and to prove it, you need a certificate from the Bank of Spain or a financial entity that grants legitimacy to the operation and verifies that you are the only holder. Naturally, it is not a suitable option for small investors because of its profitability.
Project investment with high socioeconomic impact
Project investment with high socioeconomic impact seeks to attract ventures that involve a technological/scientific evolution in Spain. If your vision is framed in a project of general interest and that demonstrates a socioeconomic impact, this is your type of investment. One of the requirements has already been mentioned, it must involve scientific and/or technological innovation, but it must also generate Jobs to verify the validity of the investment.
Another very common and safe alternative is bank deposits. To qualify for the Golden Visa through this method, you must deposit 1,000,000 euros into a bank account in Spain. The accreditation consists of generating a certificate from the financial entity that identifies you as the sole holder of the account.
Investment in participations or shares
Finally, the investment in participations or shares in Spanish companies is another very feasible type of investment to be able to request the Golden Visa. Spain possesses companies with great potential for profitability in participations or shares. To accredit, it is required a certificate of the National Commission of the Market of Values that endorses the purchase of the share. If it is a participation, you must process a declaration of investment in the Registry of Investments of the Ministry of Economy.
Factors you should take into account in addition to the significant investment
Other factors to keep in mind after receiving the Golden Visa are the taxes you will have to pay. Taxes will vary depending on your context, remember that this residence permit does not require the holder to stay in Spain for 183 days, so if you are a person who visits Spain only once or twice a year, that makes you a non-resident for tax purposes.
How to apply and what paperwork involves
We can divide the Golden Visa application into four simple steps:
Make one of the investments, apply for the Golden Visa, apply with all the necessary documents, and receive the residence permit. Let’s understand each step in more detail:
Making one of the investments
As we have explained above, you have several types of investments in Spain in order to apply for the Golden Visa. You may need to be in Spanish territory to arrange the final details of the investment, however, the rest of the process can be done remotely.
Applying for the Golden Visa
You must submit your Golden Visa application to the nearest Spanish embassy within three months of the investment. You don’t need to do it yourself, you can send a legal representative.
Send the application together with the necessary documents
You need several documents to apply for the Golden Visa, among which are:
- The Spanish long-stay visa application form.
- Valid passports, for your relatives if you are including them in the program and you.
- Two passport-type photos.
- Proof of the investment and your capital’s origin.
- A medical certificate confirming that you do not have any public health risk diseases.
What to do in the future after obtaining your golden Visa?
If you are granted the Golden Visa remember that you will have to renew it two years after its first issuance. After that, the Golden Visa will be valid for five years. In all the renewals, you have to prove that the investment remains stable and that you still have the economic resources to live in Spain. After the second renewal and depending on your nationality, you can even apply for the Spanish nationality. Let’s take into account that the Spanish passport is one of the strongest in the world, guaranteeing you a great number of benefits and access to more than 150 countries without the need for a visa.
How can we make this whole process easier and faster?
We have already mentioned that the Golden Visa process is much easier and faster if compared to other types of visas and residence permits. However, like any other visa application, it’s still a complicated process for people who are not usually involved in this type of process. It is a process in which the application must be made electronically and addressed to the UGE. Our firm knows that your time is valuable, and we are interested in making the process as efficient as possible for you. By choosing and contracting our service, you will have the Golden Visa in your hands before you realize it.