Golden Visa Residence in Spain Through Investment – Tech Mag (2024)

Do you know Golden Visa Residence in Spain Through Investment? For non-EU nationals who invest at least 500,000 euros in Spanish real estate, the “Golden Visa” is a residence visa. Aiming to entice foreign investors who want to buy homes or other real estate in exchange for having it made easier for them to get a residence permit, the Golden Visa programme was approved for residency by investment in Spain in 2013 and is currently in effect in other countries including Malta, Portugal, and the United Kingdom.

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What are the advantages and am I eligible to apply for a golden visa in Spain?

“Golden visas” allow you to travel, reside, and work in Spain. Anyone who has invested more than €500,000 in real estate without taking out a mortgage, as well as those who have €1,000,000 in shares or €1,000,000 deposited in a Spanish bank, are qualified to apply.

A residence visa known as the “Golden Visa” is available to non-EU nationals who invest at least 500,000 euros in Spanish real estate. Aiming to attract foreign investors who want to buy homes or other real estate in exchange for having it made easier for them to get a residence permit, the Golden Visa programme was approved in Spain in 2013 and is currently in effect in other countries including Malta, Portugal, and the United Kingdom.

Spanish Golden Visa: Requirements for Applications

The following standards must be satisfied for the applicant to be granted a Golden Visa in 2022:

1. You have to be a national of a nation not in the European Union. You must keep in mind that it is geared toward investors outside of Europe.

2. Be older than 18 years old.

3. Own a clean criminal record.

4. Obtain private health insurance while in Spain.

5. Show that you have the resources to sustain your family while living in Spain.

6. Make the corresponding investment, which will vary in size depending on which one. Here is a list of every potential investment:

• Invest in government debt in an amount equal to or more than €2 million.

• Invest more than €1,000,000 in shares of Spanish corporations or bank accounts in Spanish firms.

• Purchasing a home in our nation for more than 500,000 euros.

• Open a company in Spain that satisfies the following conditions:

• To produce jobs.

• Having a significant socioeconomic impact on the nation or region.

• That is a novel advancement inscience or technology.

Granted the golden visa for investments

There are eight in all, and “all the material supplied to the file will be considered, with no factor being, by itself, the evaluation of the concession,” even though the most important capital expenditure is the most relevant. No factor shall be taken into consideration in determining the appraisal of the concession, as stated in (Criteria 1.1 of Application of Law 14/2013). In other words, fulfilling one condition does not automatically fulfil all of others. It is necessary to complete each one of them as a result.

Large financial investment.

The most important requirement is making a sizable financial commitment, which can be accomplished in six different ways according to the rules in Law 14/2013’s Article 63.2. The first would entail real estate investing, the second would entail real estate investing (containing four assets), and the third would entail real estate investing (containing three assets).

Investment in real estate

The investment in real estate will be valued 500 000 EUR plus taxes, as per Law 14/2013’s Article 63 B. The certification might come with an electronic verification code for use with online consultations. One of the conditions will be the volume of the purchase; if not, the qualification will be authorised by the relevant public document.

Investment in real estate must be made in one or more of these properties and must be at least 500 000 euros, taxes included. The Spanish courts have made various decisions about this. This idea has been clarified by the following judgement:

This is also the result of Article 63.1.b) of Law 14/2013 being written literally, which refers to the value of the investment as “the purchase of the real estate in Spain” in the plural, indicating that the 500,000 euros invested may not have been split among multiple properties but rather may have been split among several (STSJ d).

Alternatives to investing in real estate

Various alternative assets besides real estate investment can support our application for a Golden Visa.

shares or participations in Spanish capital companies with a million-euro annual operating revenue. According to Article 64(a) of Law 14/2013, the form of accreditation for these shares will vary depending on whether they are classified or unclassified shares. The following is taken from the cited article and is quoted:

For investments in unlisted shares or participation, a copy of the investment declaration lodged in the Foreign Investment Registry of the Ministry of Economy and Competitiveness must be presented.

In the case of investments in listed shares, a certificate from the financial intermediary, properly registered with the National Securities Market Commission or the Bank of Spain, verifying that the interested party has invested for the purposes of this law must be presented.

Closed-end investment funds or venture capital investment

Venture capital, closed-end investment funds, or investment funds totaling one million euros. The investment fund must be governed by either Law 35/2003, of November 4, on Collective Investment Institutions, or Law 22/2014, of November 12, which governs venture capital entities, other closed-end collective investment entities, and businesses that manage investment entities.

Conclusion

The property, or the combined value of the properties (if there are numerous), must be valued at at least 500 000 Euros including taxes to satisfy the real estate investment requirement to get residency in Spain. Additionally, that sum must be unburdened by any debts or obligations. Keeping in mind that “the portion of the investment that exceeds the acceptable amount [500 000 Euros] may be subject to a fee or tax” is a good idea.