In 2013, the Government launched a series of measures aimed at facilitating the entry and stay in Spain of foreign investors, who are not citizens of the European Union, due to the acquisition of real estate. It is what is known as the Golden VISA.
According to Law 14/2013 of September 27 on support for entrepreneurs and their internationalization (Law 14/2013), non-resident foreigners who intend to enter Spanish territory to make a "significant investment" of capital may apply for a visa. residence for investors.
Among the assumptions that are included as "significant investment" is the acquisition of real estate in Spain with an investment of value equal to or greater than 500,000 euros, per applicant.
For the granting of the visa, the investor must prove ownership of these properties, in addition to the general requirements for entry and residence for foreigners who will not carry out paid activities, including lack of criminal records, not to be rejected, with health insurance, or have sufficient financial resources for themselves and their family members during their period of residence in Spain.
The investment in real estate must be free of any charge or encumbrance, although it is allowed that the part of the investment exceeding 500,000 euros may be subject to charge.
INVESTMENT THROUGH A COMPANY
It is understood that the foreigner has made the investment if it is done through a legal entity that is not domiciled in a tax haven, provided that he owns directly or indirectly the majority of the voting rights and can appoint or dismiss the majority of the members of the administration body.
Term: The residence visa will allow investors (and their spouse and children under 18 years of age) to reside in Spain for a period of at least 1 year.
AUTHORIZATION OF RESIDENCE FOR INVESTORS
Those investors wishing to reside in Spain for a period longer than the validity of their visa may request the granting of a residence permit for investors.
To apply for residence authorization, in addition to meeting the general requirements of art. 62 of the Law, it is required to prove that the investor:
It has a residence visa for current investors (or 90 days have not elapsed since its expiration).
Continues to own real estate for the minimum amount required.
Has traveled to Spain at least once during the period authorized to reside.
Has complied with the tax and Social Security obligations that may apply.
The initial residence authorization for investors will last for 2 years, renewable at the request of the investor.
The residence authorization will be granted within a maximum period of 20 days from your request; in case it is not resolved within said term, it will be understood as granted by administrative silence.
It should be mentioned that without prejudice to the need to prove, in accordance with current legislation, the continuity of residence in Spain for the acquisition of long-term residence or Spanish nationality, the renewal of residence in the case of visas and authorizations of residence for foreign investors may be made even if there are absences of more than 6 months per year.
MAINTENANCE OF REQUIREMENTS
The foreigners will have to maintain during the validity of the visas or authorizations the conditions that gave access to them. The competent bodies of the General State Administration may carry out the verifications that they consider appropriate to verify compliance with current legislation.