(ONLY INTERESTING FOR NATIONALS FROM NONE-EU COUNTRIES!)
2013, Spain introduced a law supporting internationalization and enterprising, called "Golden Visa", for none-EU nationals. When buying a real estate for more than €500,000, you and your family, will be granted residency in Spain.
The residency has to be renewed every 2 years.
It is not necessary to live in Spain in order to retain and renew the residency permit.
However, if you want the residency to be permanent, under the "Golden Visa"–plan, you and your family have to live in Spain for five years.
As well, you have to be living in Spain for ten years, before you and your family can apply for full Spanish Citizenship.
The law 14/2013, of the 27th of September, supporting enterprising and its internationalization, introduced a new type of visa and residence permit in Spain for investors known as Golden Visa, and the new Law 25/2015 has updated the requirements of these residence permits, facilitating to the relatives of the main investor the acquisition of the permits and making, at the same time, easy the renewal, increasing the periods for which the Visa can be issued.
The essential purpose of this regulation is to facilitate foreign investments in Spain made by foreigners who are not citizen of the European Union, through an agile and flexible method focused to those who have the consideration of investors in his legal concept, enterprising, high-qualified professionals or workers.
This last assumption is considered by law as a different type of significant investment due to its amount, since the visa obtaining is determine by social importance reasons or other economic benefits not financially valued in money or capital. Also are included within this range the professional highly qualified and those who realise transactions within the same company.
The application for the Investor’s Visa should be completed in the Consular Office corresponding to the Investor’s Residence in his country. The renewals will be handled in Spain and, if the investor decides to apply firstly for the Residence Authorization for Investors (with a duration of 2 years), it can be completed directly in Spain.
The Golden Visa will have a duration of 1 year and then the renewal will be completed through a Residence Authorization for Investors with a duration of 2 years. At the end, the renewal of that permit will be done every 5 years.
As advantage of this Residence Permit, the holder of the permit can keep his tax residence outside Spain and the residence permit can be renewed even with absences longer than six months per year.
In addition, the Residence Authorization for investors will allow the holder to work in Spain in the same terms than a Residence Permit with working purposes.
This Resident Policy is clearly more effective for Investors, despite a minimum investment is required for granting it, and it is also more efficient, as the Tax Residence will not change for the investors and a minimum stance is not required for the renewal, so we can conclude that it is a great possibility for foreign investors.
Please also be informed that, If the foreign national has not formalized the purchase of the property or properties but there is a pre-contract with guarantee of its compliance by means of a deposit or other means allowed by law formalized in a public deed, the investor must submit, together with compliance with the general requirements, the pre-contract with guarantee together with a certificate from a financial institution established in Spain stating that the applicant has a non-available bank deposit with the amount necessary for the acquisition. The amount of the deposit can only be used for the final purchase of the property or properties indicated in the pre-contract with guarantee. In this case, the interested party shall be granted an investor residence visa with a maximum validity of 6 months.
If the effective purchase of the property or properties indicated is proved, the interested party may apply for an investor residence visa with one-year validity or an investor residence permit with two years’ validity.