The visa that grants residence permit and free movement in the Schengen area for non-EU citizens is called Golden Visa.
Law 14/2013, of Septembre 27, on support for entrepreneurs and their internationalization, put into effect the residence visa for investors as a mechanism to boost investments and attract foreign capital.
To get a Golden Visa, is required to make one of the following investments:
- Real estate investment of at least 500.000 €
- Investment in Spanish companies social capital or bank deposits of at least 1.000.000 €
- Investment in Spanish public debt of at least 2.000.000 €
- Investments in constitution of scientific and technological innovation companies that suppose an economic interest for Spain associated with job creation.
What is the validity of the Golden Visa?
This visa is valid for one year at the end of which you can apply for two years resident permit. This visa is valid for the applicant, spouse, children and dependent relatives.
What are the requirements for Golden Visa?
Having a Golden Visa does not imply you have to live in Spain, but it does require entry in spanish territory at least once a year. Moreover, the free movement through Schengen area is allowed up to 3 months within each semester.
Golden Visa means tax residence?
According to the binding query V1166-18, of May 8, 2018, tax residence will be determined by compliance with the requirements of article 9.1 LIRPF regardless of the possesion of a Golden Visa. For this reason, only people who spend more than 183 days per calendar year in the country or have the center of vital and economic interest in Spain will be considered tax resident.
If you are interested in obtaining a Golden Visa or need more information, consult our Tax Department.