A golden visa allows you to live and work in Spain as a permanent resident, access the national health system, and travel freely in the Schengen area. It has become a popular choice among citizens from China and Russia, who can benefit from the low residency requirements. However, people from Iran, Venezuela and Lebanon have also registered notorious activity with this visa. It’s important to know that this residence permit doesn’t require a minimum or constant stay in the country, so it’s ideal for investors who want to use it as an alternative to other types of residence permits.
Those who buy real estate to obtain a golden visa will have to present the certificate of registration of the property and the deeds to the corresponding office of the Land Registry (Registro de la Propiedad). Investors who decide to invest in unlisted shares or equity or public debt can submit the declaration of the investment filed with the Investment Register of the Ministry of Economy and Competitiveness or the certificate from a financial intermediary registered with the National Securities Market Commission. In the case of bank deposits, the certificate issued by the financial institution with which you contracted the deal must state that you are the sole holder of that deposit.
The initial residency granted by a golden visa lasts for one year, and you must visit the country to renew it. Then you can extend your stay for another two years if you continue to meet the requirements. After five years, you can apply for citizenship. This visa is ideal for entrepreneurs who want to invest in Spain and create jobs in the country, or individuals who can contribute to Spanish innovation in science or technology or make a significant socio-economic impact. It’s also a good option for families that want to move together.
If you plan to take up employment in Spain, you will need a professional certificate from an approved university or institute. In addition, you must have the financial means to maintain yourself and your family while living in Spain. You must also have health insurance.
MADRID, May 8 (Reuters) – Spain may tighten rules on its “golden visa” scheme that grants residency rights to foreigners who buy homes in the country, the leader of a left-wing party said on Monday. Inigo Errejon, of the Mas Pais party, said his group had reached a preliminary agreement with the Social Security ministry to end the programme, which has allowed buyers of properties worth at least EUR500,000 to get three-year residency permits.
The programme has raised concerns about money laundering and tax evasion, but it has helped the country attract investments from non-EU citizens. A similar scheme in neighbouring Portugal is due to be scrapped this month. The government has defended the programme, saying it benefits Spain’s tourism and property industries, and provides employment opportunities for locals. The European Union has called on member countries to toughen up controls on residency for investors. golden visa spain