You may have heard of the Golden Visa that more and more investors try to obtain in Spain every day. If you are wondering what the Golden Visa is in Spain, the Golden Visa is a residence permit in Spain that is granted to foreigners who make an investment in our country, although you must be of a high amount.
In fact, the Golden Visa Spain is a way of channeling foreign investment in our country. The Entrepreneurs Law establishes that all foreigners who invest in the real estate sector in Spain will be able to obtain the Golden Visa real estate investment.
With this Spanish Golden Visa these foreigners and their families will be able to live in our country without the need to justify that they have a work or study permit. In fact, they are not required to remain in Spain to maintain their real estate investment Golden Visa.
The only requirement established for these investors is that they maintain their investment in our country. As long as they continue to invest, they will be able to maintain their Golden Visa.
Requirements to obtain the Golden Visa
If you are wondering what the Golden Visa is in Spain, you will have to know how it is possible to obtain this Golden Visa. The Golden Visa Spain requirements are what we tell you below.
The cases in which the Golden Visa can be granted are identified and are the following situations:
- Public debt: The purchase of two million euros of this financial instrument.
- Shares, participations or deposits: The purchase of one million euros in shares or company participations or bank deposits in financial entities.
- Real estate: The acquisition of real estate whose amount is greater than 500,000 euros, without any type of charge.
- Companies: Development of a business project.
Any of these situations can give the right to obtain a Golden life. However, the most common way to obtain this residence permit is through the purchase of real estate. It is a very important activity in Spain and there are certain areas in which there is usually greater interest in investing.
In Andalusia, there is usually greater investment interest in real estate assets in the areas of Malaga and Cadiz. However, in order for the Golden Visa Spain requirements to be granted, other conditions must be met.
In the case of investors, it is necessary to prove that the investment has been made in a period of no more than 60 days prior to the submission of the Golden Visa application.
However, there are certain requirements that must be met in order to maintain the status of the Visa in Spain. Compliance with the established requirements will allow obtaining a residence visa with a duration of 1 year, in addition authorization is obtained to reside for 2 renewable years, as long as the investment made is maintained.
Likewise, it is necessary that investors have made a trip to Spain during the time that the residence visa is active. During the process, investors must submit certain documentation.
It will be necessary to present documents that prove the investment made in real estate or other assets. Likewise, documentation proving identity such as ID or passport will also be requested. Other documentation that may be requested is medical insurance or a criminal record certificate.
Another important requirement that must be met at all times is to demonstrate that you have sufficient financial means to live in Spain for both the investor and his family.
One of the most important requirements to obtain this Golden Visa is proving that you have bought one or more homes for an amount equal to or greater than 500,000 euros. However, it is essential that this purchase be completely free of charges, therefore, you cannot mediate a mortgage or any type of loan in the purchase operation.
Procedure to apply for Spanish Golden Visa
In order for you to claim the investor application and obtain your Golden Visa, you will have to adequately prove that you have made the purchase of the property. For this reason, you must demonstrate them through the deed of sale, the information from the property registry and the taxes that have been settled.
Given that it may happen that the investor is not in Spain at the time of buying the property, it is possible to make the request directly at the Spanish Consulate in the country where they are residing.
In the event that if you are in Spain and already have a tourist visa or have residence in our country, what you will need is to make the request directly. In this case, what you have to do is request authorization as an investor through the CGU (Large Companies Unit).
An important aspect that has been highlighted is that in order to receive the Golden Visa you will have to prove that you have sufficient means to live in our country. The way to certify this is by taking the IPREM as a reference.
In this way, in the case of the holder it would be 400% of the IPREM, that is, prove that they have at least 2,000 euros per month. In the case of family members, 100% of the IPREM must be accredited. In other words, income of more than 500 euros per month must be accredited for each family member.
Health insurance to obtain the Golden Visa
A very important requirement that you should also take into account is that you will be forced to have current health insurance. This insurance aims to have coverage similar to that of social security.
The idea is that it is an insurance that covers hospitalization and without copay. It will be an insurance that allows coverage in case of accident or serious illness. This insurance must be valid for the entire duration of residence in Spain.
Undoubtedly, the Golden Visa is a way to improve investment levels in our country and also an opportunity for investors who want to find real estate investment options in Spain.
The period of validity of the authorization as an investor is two years and after that period it will have to be renewed. The period of validity after renewal, however, extends up to five years.