In recent years, foreigners have continued to buy real estate in Spain, and this has been largely due to the residence permit obtained for investments equal to or greater than 500,000 euros. In this post, we want to tell you about the Golden Visa and its restrictions.

According to the Real Estate Registry Statistics (ERI) prepared by the Association of Property Registrars, relative to the fourth quarter of 2018, the demand from foreigners for housing in Spain continues to be strong.

In fact, 12.66% of total home purchases in the fourth quarter of 2018 corresponded to foreigners. This represents a slight increase compared to 12.11% in the third quarter.

The foreigners who buy the most homes in Spain come from the United Kingdom, Germany, France, Belgium, Italy and Sweden.

What are the restrictions that apply to the Golden Visa?

The Golden Visa is regulated in Law 14/2013, of September 27, to support entrepreneurs and their internationalisation.

The Golden Visa or residence permit for investors in Spain has a series of restrictions which are the following:

If you are an investor, the investment you make in Spain must be from/in:

  • 2 million euros in Spanish public debt or 1 million in shares or participations in Spanish companies or 1 million in investment funds.
  • Half a million euros or more in real estate in Spain.
  • A business project that is of general interest because it creates jobs has a socio-economic impact or contributes to innovation.

In the case of entrepreneurs, you can apply for the Golden Visa to stay in Spain for a year to take the necessary steps to carry out the entrepreneurial activity.

Highly qualified professionals may also apply for the Golden Visa to work in Spain with an employment or professional relationship.

In the case of researchers, they can also request this permission.

Finally, workers who travel between companies of the same group can also request it.

In each case, the approval of the visa is obtained at different times; for example, in the case of investments in projects of interest, the visa will be obtained with the approval of the project and the accreditation of the capital.

In addition to the above, a series of particular requirements must be met in each case and general Golden Visa requirements, which are the following:

  • Not being in Spain irregularly
  • Be of legal age (18 years)
  • Not having a criminal record in Spain or in the countries where you have resided, for crimes regulated in Spain.
  • Not having been rejected in countries with which Spain has agreements
  • Have subscribed public or private health insurance with an entity authorised in Spain
  • Possess financial resources for the duration of the stay

In the event that you want to make an investment in Spain to obtain the Golden Visa, consult with our lawyers specialised in residence permits.

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