It is an authorization that allows non-EU foreigners (those who are not nationals of a country of the European Union, the European Economic Area or the European Economic Area) to (those who are not nationals of a country of the European Union, European Economic Area or Switzerland) to reside and work with their Switzerland) to reside and work together with their family in Spain by demonstrating that they have made a significant significant capital investment has been made in the country and that the rest of the requirements of the other requirements provided for in the Spanish legal system.
REQUIREMENTS (provided for in articles 62, 63 and 64 of Law 14/2013).
A. Significant capital investment
The most important requirement is related to having made a significant capital investment. investment, which can be made in 6 different ways according to the provisions of Article 63.2 of established in article 63.2 of Law 14/2013.
A. 1 Real Estate
The value of the real estate investment must amount to 500 thousand euros plus taxes (Article 63. b) of Law 14/2013). Based on Article 64.b) of Law 14/2013, "the applicant must prove to have acquired ownership of the real estate by means of certification of ownership and charges from the Land Registry that corresponds to the real estate or real estate. The certification may incorporate an electronic verification code for online consultation. This certification will include the amount of the acquisition; otherwise, it must be accredited by means of the contribution of the corresponding public deed".
- Value + taxes:
- First Transfer: Value Added Tax (VAT) 10% or, b. In the case of property transfers, it is the Transfer Tax (ITP), which varies according to the Autonomous Community.
- One or more real estate properties? The 500 thousand euros that are requested to be invested plus the corresponding tax can be applied to one or more real estate properties, as long as the total amount required is met.
- About the owner(s): it is possible that with only one real estate property two or more persons can obtain the Golden Visa as owners, unlike accompanying family members. different thing to the accompanying relatives. When there are 2 or more owners it is legally called pro indiviso of full dominion, that is to say that is to say that the property is not divided if not that all have the totality of the property of the whole house. ownership of the entire property.
- The investment must be free of liens or encumbrances: This refers to that the property must not present any limitation on its ownership, i.e., that there are no liens, mortgages, resolutory clauses, etc., on it. that is, that there are no liens, mortgages, resolutory clauses, etc., on it.
A. 2 Securities
- One million euros in shares or equity in Spanish capital companies with a real business activity. companies with a real business activity.
- One million euros in investment funds, closed-end investment funds or venture capital funds incorporated in Spain. or venture capital funds incorporated in Spain.
- One million euros in bank deposits in Spanish financial institutions. 4. Two million euros in Spanish public debt securities.
A. 3 Corporate
Here, compliance with at least one of the at least one ofThe following conditions are evaluated here, but not the amount required for the above assumptions.
- It must involve the creation of jobs (the current law does not indicate a minimum).
- It must have a relevant socioeconomic impact in the geographical area in which the activity is to be developed.
- It must make a relevant contribution to scientific or technological innovation.
The determination of "general interest" is evaluated according to the particular characteristics of each project.
B. Not to be irregularly present in Spanish territory
The procedure can be initiated in the country of origin or,
- in Spain directly (either because you entered with a Schengen visa or, in some cases, without a visa, depending on the nationality).
At the time of filing the application you must be in the territory in a regular (legal) manner, this must be done within 90 calendar days from the date of entry into the Schengen territory.
The determination of "general interest" is evaluated according to the particular characteristics of each project.
C. Be over 18 years of age
The main applicant must be over 18 years of age, but it is perfectly possible for certain family members, such as children, to benefit from investment residency (accompanying the main applicant), even though they are still minors.
D. Lack of criminal record in Spain and in the countries where he/she has resided during the last 5 years, for crimes under the Spanish legal system. Spain and in the countries where he/she has resided during the last 5 years, for crimes provided for in the Spanish legal system.
- It is not necessary to present the Spanish criminal record certificate, as the aliens' authorities will obtain it. the Spanish criminal record, as the immigration authorities will obtain it automatically. automatically.
- ● The criminal record certificate need not necessarily the applicant's country of origin, since the law requires that certificates from the the law requires the presentation of the certificates of the countries in which the applicant has The applicant's criminal record does not necessarily have to match that of the applicant's country of origin.
- Apostille or legalization. If the country issuing the the criminal record is a party to the Hague Convention they must be apostilled. Otherwise they will have to be (Requirement to be valid in Spain).
- ● In case the criminal record certificate has been issued in a language other than Spanish, it will have to be translated by a sworn translator.
E. Not to be listed as rejectable in countries with which Spain has signed an agreement agreement in this sense.
That is, not having an entry ban in the countries that form the Schengen territory. Schengen territory.
F. Medical Insurance:
Public insurance or private health insurance private health insurance with an insurance company authorized authorized to operate in Spain. Spain. "must have coverage equivalent to those provided by the provided by the Spanish National Public Health System for the duration of the residency. for the entire duration of the residency.
a. *WATCH: Not all insurances are accepted for processing. meet certain specific requirements.
G. To have sufficient economic resources for themselves and their family members during their period of residence in Spain.
Prove that you have, as a minimum, "an amount that represents monthly in euros 400% of the IPREM (Public Multiple Effect Income Indicator).Public Indicator of Income of Multiple Effects)or its legal equivalent in foreign currency". which equivalent for the year 2023 to the amount of 2,400.00 euros per month based on 12 months. 2,400.00 per month based on 12 months. However, the latest criteria of the Courts indicate that the economic means must be calculated on the basis of 14 months, the 400.00 euros per month. the economic means must be calculated based on 14 months, 400% of the annual IPREM amounts to the amount of 33,600 euros (600 x 4 x 14).
For each family member who is a dependent of the foreigner applicant, it must be demonstrated that the applicant possesses "an amount that represents monthly in euros the 100% of the IPREM, or its legal equivalent in foreign currency, amount to be accredited additionally". In this case it would be 8,400 euros (600 x 14) and not 7,200 euros (600 x 12).
Ways to check:
a. To have sufficient financial means for the period of residence they are applying for, paid into a bank account.
b. Aeed a regular source of income
H. Pay the fee for the processing of the visa or the authorization of residence by investment.
Benefits/particularities of the "Golden Visa".
- Allows you to be absent from Spain for long periods without losing your residency. ○ Law 14/2013 "Sixth additional provision. Residence in Spain with periods of absence from Spanish territory. Without prejudice to the need to accredit, in accordance with the legislation in force, the continuity of residence in Spain for the acquisition of long term residence or Spanish nationality, the residence of long duration or the Spanish nationality, the renewal of the residence renewal of the residence will be able to be carried out even existing absences of more than six months per year in the case of residence visas and authorizations for foreign authorizations for foreign investors or foreign workers of companies of companies which, carrying out their activities abroad, have fited their base of operations in Spain".
- It allows the investor's family members to benefit from this type of residence at the same time as the investor. residence at the same time as the investor. the accompaniment of children over 18 years of age, as long as they are economically the family member and have not constituted their own family unit, as well as parents family unit, as well as parents, even those under 65 years of age, can obtain a residence years of age, can obtain a residence as companions.
- Includes work permit for the investor and their family members. "The The granting of the residence visa for investors will constitute sufficient title to reside and work in Spain for the to reside and work in Spain during its validity." (Article 65 of Law 14/2013)
Written by Natalia Menéndez / Law Degree
