Golden Visa

Golden Visa

Golden Visa

Golden Visa is the name given to the visa and residence authorization obtained by non-Europeans by making an investment in accordance with the standard that regulates these permits.

It is possible to obtain it through other types of investments, but in this article we will focus on the Golden Visa obtained through a real estate investment as this is the type of Golden Visa most clients request from us and the one that requires the least invested amount.

Characteristics of real estate investment to obtain the Golden Visa?

The investment must be made within Spanish territory and amount to a minimum of 500,000 euros. It can be made on one property or several. They don’t need to be acquired at the same time, but it is necessary that the sale, and therefore the investment, has been completed. Said real estate valued in 500,000 euros must be free of charges. That is, not subjected to credits and/or mortgages.

Who can benefit from a Golden Visa?

It may be requested by the investor, who will be the holder of the authorization, alongside their spouse or de facto partner, minor children or financially dependent children and the holder’s dependent ascendants.

How long is the Golden Visa permit for?

The Golden Visa can be obtained for the first time with the denomination of investor visa (with a duration of one year). and after entering Spain, the initial authorization can be requested (with a duration of 2 years). However, in many cases and depending on the investor’s situation, the visa will not be requested, but rather the initial authorization directly.

How long does it take to obtain the Golden Visa?

The deadlines are very fast: the visa is granted in less than two weeks and the authorization in less than 3 weeks. This is because the body in charge of processing the applications is a special unit, called the UGE (which stands for Large Business Unit in Spanish). This is the same unit that also processes the applications and renewals for Highly Qualified Personnel (PAC). Due to the fact that they do not depend on the Immigration Department but rather on the UGE, the deadlines are very short.

Does the Golden Visa allow for both work and residence in Spain?

That’s right. The GV allows the main investor and their relatives to both reside and work in Spain. Unlike other authorizations, such as the Non-working Residence Visa, the Golden Visa does not require a permanent residence in Spain for its renewal.

How is the investment demonstrated?

Ownership on the investment and its amount are demonstrated by providing the purchase deed together with documentation that you will obtain from the Property Registry.

In addition to proving the investment, what other documents will I need to present?

In addition to the purchase deed and the documents from the Property Registry, you will need to provide a 100% health insurance coverage without co-payments, a criminal record certificate (for those applicants of legal age), and proof of sufficient economic resources to reside in Spain.

For the year 2022, the sum required for the holder is almost 28,000 euros per year, and an approx. 7,000 additional euros for each family member who requests it alongside them. These amounts are calculated based on an index called IPREM and change every year.

What are the requirements for renewing the Golden Visa?

In order to renew the Golden Visa, you must have maintained the initial investment and be able to prove it. In the same way, you must prove sufficient economic means to be able to reside in Spain and have full medical insurance coverage.

In the case of adult children, you must demonstrate that they continue to be economically dependent on the permit’s main holder and that they have not yet formed their own family unit.

For Corporate Consulting Services