The Golden Visa or Spanish Investment Residency, was created with the passing of the Entrepreneurs’ Law (Law 14/2013 of 27 September, to support entrepreneurs and boost internationalisation). The objective is to facilitate and simplify entry into and residence in our country through the provision of visas and residency permits, which are valid throughout the national territory, to foreigners from outside the European Union who are not entitled to the rights of free movement and residency and who purchase property located in Spain. Where this is the case, the investor acts in the capacity of a normal or legal person.
One of the defining characteristics of these visas and permits is that by reducing the periods of time taken by the relevant authorities to provide them, the acquisition process should be streamlined for non-EU investors who satisfy the requirements of Law 14/2013.
An investor will be entitled to request a property investment visa, which will be sufficient to allow residency in Spain for at least one year. Investors will also be able to request visas for a partner and any children under the age of 18 or who are over this age but economically dependent on the main investor.
In order to obtain the visa, the applicant must prove complete ownership of property in Spain of a value equal to or greater than €500,000, in addition to fulfilling the general requirements of entry and residency for foreigners who do not intend to engage in paid activities.
The initial residency permit for investors will last for two years. Once this period of time has elapsed, any investors wishing to remain in Spain can request a renewal of the investor residency permit for the same two-year period.