Golden Visa: Everything you need to know

In 2013, Law 14/2013, of September 27, was drafted to support entrepreneurs and their internationalisation, which regulates the so-called Golden visa or residence visa for the acquisition of real estate or who seek to promote or build their own home, in Spain. In other words, it is about promoting real estate investments in our country by facilitating residency for investors.

Based on the law, foreigners who want to enter or reside, or already reside in Spain, will be facilitated entry and stay in Spain for economical interest. For this, they must prove that they are:

• Investors. In this case, the stay or residence visa will last for one year. The investment to be made must be:
  • Two million euros in Spanish public debt securities or one million euros in shares or participations in Spanish companies, or one million euros in investment funds.
  • 500,000 euros or more in real estate in Spain. That is, make real estate investments equal to or greater than half a million euros.
  • Purchase of land for an amount less than 500,000 euros, if the construction of a house is promoted that, in total, adds more than that amount. Two records are considered: the sale of the land and the house. It is not accepted to buy a house less than € 500,000 and reform it.
  • A business project of general interest for which jobs are created, an investment with socio-economic impact is made, or scientific or technological innovation is provided.
• Entrepreneurs. They may request a visa to enter and stay in Spain for a year to carry out the previous procedures for entrepreneurial activity.
• Highly qualified professionals. Companies that need the incorporation of foreign professionals for work or professional relationship can request a residence permit that will be valid throughout the national territory.
• Researchers. They may request a visa or residence authorization for training and research valid throughout the national territory.
• Workers who carry out intra-company movements within the same company or group of companies. This is the case of foreigners who travel to Spain for a work, professional or training relationship. The visa will be valid throughout the national territory.

This regulation does not apply to citizens of the European Union who benefit from free movement and residence rights.

Golden visa: requirements

There are specific requirements for each case, but, in article 62 of the Entrepreneurship Support Law, the general requirements to obtain the Golden Visa are established, which are the following:

• Not being found irregularly in Spain.
• Be of legal age (18 years).
• Not having a criminal record in Spain and in the countries you have previously resided in during the last 5 years, for crimes regulated by Spanish regulations.
• Not having been rejected in the territorial space of the countries with which Spain has an agreement.
• Have public or private health insurance with an authorized entity in Spain.
• Have sufficient financial resources for themselves and their family members during their residence in Spain.
• Pay the visa processing fee.