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Gold Visa

Posted by CasaDorada on 13/12/2017
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The procedure for obtaining a residence by foreign investors from countries that are not part of the EU is called a “GOLD VISA”, on the basis of the enacted Law 14/2013. If you want to issue a residence permit for investment, the grounds in this case may be the following:

Investments in real estate worth more than 500 000 euros. This option is the most common. This amount can be used both for the purchase of one property and for the purchase of several properties. 500 000 euros are prescribed in the contract of purchase and sale, and it is this amount that taxes and fees should be assessed. The buyer can be a natural or legal person. You can request a mortgage loan if the purchase amount exceeds 500,000 euros, but still 500,000 euros must be paid as an initial installment on the purchase account.
Investments in shares or shares of existing Spanish companies of at least 1 million euros (that is, for example, the purchase of an existing company or the creation of a new Spanish legal entity with an authorized capital of not less than 1 million euros.
Opening a deposit account in any financial institution located in Spain, for a minimum amount of 1 million euros.
The investment in government bonds of Spain is more than 2 million euros.
The establishment and organization of a social business project in Spain, which will be aimed at supporting the “common interests” of citizens.

Investments (the procedure for the transfer of funds) can be carried out as with private bank accounts, as well as on accounts of foreign companies (which are not registered in an offshore zone), provided that the investor has a controlling interest. You should also bear in mind that to obtain a “golden visa” an investor must also meet the following requirements:

Do not be in Spain illegally.
Be an adult.
There must be no criminal record both in Spain and in the countries in which the investor resided for the previous 5 years, before filing for the residence.
There must be a confirmation (a copy of the insurance) that you can be provided with public or private health services.
There must be confirmation that there are sufficient economic resources for themselves and for the members of the investor’s family for whom the residence will be extended for further stay in Spain. That is, the availability (in addition to investment) of funds in a bank account in Spain for a one-year stay of 26,400 euros per person.

After obtaining a residence permit in Spain, any resident can choose to become a tax resident in Spain or remain a tax resident of another country.

That is, if you are not actually going to stay in Spain for more than 183 days during a calendar year, obtaining a gold visa does not oblige you to pay taxes in Spain as a tax resident.

An application for a gold visa can be filed at the Spanish consulate of your country or in Spain, personally, being in Spain on the basis of a tourist visa, and by proxy.

It is important to note that on the basis of investments, when making out the “Golden Visa”, you do not need to issue a residence card. That is, you, as an investor, and members of your family can, at will, place a residence, but you may not. The investor’s visa is issued for a minimum of one year. The grounds for renewal are the same as the grounds for obtaining it.

For any questions regarding the issue of visas or residences, as well as legal assistance, our specialists are ready to help you.

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