Golden Visa in Spain

Know the investment options, requirements and the process of the golden visa in Spain.

Golden visa Spain

?Are you looking for a way to move to Spain and start a new life? The Golden Visa Spain is a special residence permit that allows non-European citizens to live, work and study in Spain. This visa is offered to those who can make a financial investment in the country.

?How to obtain a golden visa in Spain

The law firm of attorney Lino Garcia offers a range of options to help you and your family to live in Spain through investments.

The main options offered by our law firm include the purchase of Spanish public debt to the value of 2,000,000 euros, to make a bank deposit in Spanish financial institutions to the value of 1,000,000 euros or the purchase of real estate in Spain to the value of more than 500,000 euros.

In addition to these options, there are also other ways to invest in Spain and obtain a Golden Visa.

In addition to these options, there are also other ways to invest in Spain and obtain a Golden Visa.

These include investing in shares or participations in Spanish capital companies for a value of 1,000,000 euros, investing in closed-end investment funds or venture capital funds incorporated in Spain for a value of 1,000,000 euros, and investing in a business project of general interest that meets certain criteria.

These criteria include the creation of employment, the realization of an investment with a relevant socioeconomic impact in the geographical area where the activity is to be developed, or the realization of a relevant contribution to scientific and technological innovation.

At the law firm of attorney Lino Garcia we understand that investing in a foreign country can be a daunting prospect.

Our expertise?team can guide you through the entire Investor visa for Spain process, from helping you choose the right option for your investment to ensuring that all the necessary steps are taken to apply for your visa or residence permit.

Reasons to live and invest in Spain

In 2022, 71.659.000 million tourists visited Spain, making it one of the world’s top tourist destinations.

Spain is an attractive place to live and invest. The country offers a Golden visa program, which grants visas and residence permits to foreign citizens who invest in Spanish real estate. In 2019, 8,287 Golden visas were granted to Chinese citizens, 6,185 to Russian citizens and 609 to U.S. citizens. Other countries, such as Ukraine, Egypt, Iran and Venezuela, also received visas and reside.

What are the benefits of a golden visa in Spain?

The Golden Visa program makes it easier for foreign citizens to obtain legal residency in Spain.

?With the help of this program, foreign investors can obtain legal residence in Spain and enjoy all the benefits that come with it, such as access to the Schengen area and free movement within the European Union.

In addition to the Golden visa Spain benefits, Spain offers other incentives to live and invest in the country. Sapin has a low cost of living, a high quality of life and a vibrant culture. All these factors make it an ideal place to live and invest for?foreign investors.

Total, Visas and Residence Permits Granted

It is important for investors to be aware of the different types of investments available for the Golden visa Spain process and the total number of visas and residence permits that can be obtained through these investments.

The total number of visas and residence permits by type of investment is as follows:

• Investment fund – 29,
• Investment in shares or stocks – 107,
• Bank deposits – 169,
• Public debt – 5,
• Business project – 56, and
• Real estate investment – 8.5.

Services of our Law Firm to facilitate your procedure

Our Law Firm offers a number of services to help investors get the most out of their investments.

These services include:

• Power of Attorney,
• Administrative Procedures,
• Immigration Assistance and Legal Advice for Investors,
• Representation for the Application and Follow-up of the File, and
• Administrative and Judicial Appeals.

We offer our experience to help the investor to manage?the investments to get the must of it and ensure that receive the best return on them.

This visa is available to foreign investors making an investment in the country, and provides a number of benefits such as the right to live and work in Spain, and access to the Spanish health care and education systems.

Golden Visa Portugal vs Golden Visa in Spain

Some people wonder Which golden visa is better if Spain or Portugal.

To acquire a Portugal Golden Visa, the?purchase of a property, it must be for the minimum amount needed being €400,000 for real estate in a low-density area, or €350,000 for real estate over 30 years old in an urban rehabilitation area (reduced to €280,000 if in a low-density area).

The Golden Visa Spain requires a higher capital investment, but with the potential for a higher return on investment due to the country’s strong economy. This investment must be at least €500,000 in real estate, €2,000,000 in Spanish Government bonds, €1,000,000 in bank deposits or other forms of investment

Golden Visa 2023

The Golden visa spain conditions for 2023 remain the same.

In addition, the investor must demonstrate that it has the necessary funds to cover his living expenses during his stay in Spain, and must also have a valid health insurance in Spain.

Golden visa requirements for Spain

Golden visa requirements vary depending on the country in which the application is submitted.

For example, in Spain, gold visa requirements may include proof of sufficient financial resources, a valid passport and a clean criminal record.

Golden visa USA

On the other hand, in the United States of America, the golden visa is officially called EB-5 visa. To apply for this visa, the investor must prove an investment of US$900,000.

It is important to bear in mind that this visa is different from the spanish one, so investors should be aware of the requirements of each country before applying for it.

Golden visa Spain Right to work and Golden Visa family

The Golden visa is a special type of residence and work permit that grants holders and their immediate family members the right to live and work in Spain.

Once you have obtained the golden visa for you and your family, you will be able to enjoy the many benefits that come with the permit, such as the right to live and work in the foreign country, access to healthcare and education, and much more.

How to apply for golden visa in Spain

The Golden Visa is a special type of visa available to foreign investors that allows them to live and work in Spain. This process is done electronically and requires a formal request to be made to the Large Companies and Strategic Groups Unit (UGE). The good news is that we can process it for you, from our Law office.

Golden visa Spain after Brexit

?Are you a British citizen looking for a way to live and work in Spain? The application process is easy and straightforward, and can be completed in just a few steps. So don’t wait any longer and apply for a Golden Visa as a non-EU citizen.

Golden Visa Spain Tax Implications

Under the Golden Visa system, foreign citizens are subject to taxation if they spend more than 183 days a year in Spain.

Also if they have their main center of economic activities in Spain.

In this case, they will be considered tax residents in Spain and will be taxed on their worldwide income.

However, foreign citizens can also opt for a special tax residence in Spain.

This will reduce their tax liability, as they will be taxed only on income obtained in Spain, at a rate of 24% for the first 600,000 euros, and at the maximum rate applicable thereafter. This tax regime will apply for a period of five years.

It is important to note that the 183-day rule is a key factor for taxation under the Golden Visa system.

This rule stipulates that foreign nationals who spend more than 183 days per year in Spain will be considered tax residents in Spain and will be subject to taxation on their worldwide income. Therefore, it is essential to be very careful with the number of days spent in Spain per year.

Regarding the special tax residence there are some important points to be taken into account.

Firstly, you must not have been a tax resident for the last 10 years, you must have an employment contract with a Spanish company of which you are not the majority shareholder and the income obtained from this contract must not come from a permanent establishment in Spain.

Wealth Tax in Spain.

This special tax regime must be requested within a maximum period of 6 months from the date of registration with the Social Security.

After 5 years of continuous residence in Spain, you will acquire the ?normal? tax residence (leaving behind the special tax residence), and will be taxed at the corresponding rate for the totality of your worldwide income.

Absences from Spain and Nationality

For the nationality by residence certain requirements are demanded that are in function of different assumptions and of the time of legal and continued residence in Spain.

Thus, for example:

• The General Supposition requires 10 years of residence
• 5 years of residence in the case of refugees
• 2 years of residence for nationals of Ibero-American countries, Andorra, Philippines, Equatorial Guinea, Portugal or Sephardic.
• 1 year of residence for:

a.- Born in Spanish territory,

b. – For those who have not made the nationality by choice.

c- The subject legally under guardianship, guardianship or care of a Spanish citizen or institution for two consecutive years, even if continues in this situation at the time of the request.

d) One who has been married to Spanish citizen for one year and not legally or de facto separated.

e) The widow or widower of a spanish citizen, if at the death of the couple there was no legal or de facto separation.

f) The one born outside Spain of Spanish parents or grandparents of origin.

Privileges of the golden visa from the point of view of entry, exits, free circulation without computing absences from Spain.

For the golden visa Spain rules,the general rule means that when a foreigner is authorized to reside and live in Spain.

He is entitled precisely to remain in Spain and not in another place, there must be a spirit and effective residence in the national territory.

But for the golden visa it doesn′t happens the same, that is ,being a special authorization.

The foreign citizen is not computed how long he has been out of Spain, or if for example during the validity of his permit he has hardly been in Spain.

At the moment of renewing the residence permit as an investor you will have the guarantee that your absences from Spain will not be an obstacle for the renewal of the permit.

Golden Visa – Freedom of Entry and Exit from Spain without computation of absences VS the requirement of legal and effective residence.

The foreign investor holder of a golden visa can enter and leave Spain without the fear of having his time computed.

This privilege allows him to renew his residence permit, unlike other authorizations of the general regime where a non-investor foreign citizen is subject to an absence criteria of 6 months in temporary residence or 10 to 12 months in long term residence.

When a foreign citizen of the general regime exceeds these absence limits, his residence permit is terminated.

This situation does not occur with the foreign citizen investor.

Spain golden visa processing time

The resolution (response) periods for initial and renewal applications are usually 3 months, although in practice they exceed this period.

While the processing time for a residence permit under the special regime is usually 20 days.

Golden visa Spain citizenship

According to?these differences, it should be remembered that nationality and residence are not the same thing.

Nationality may become a consequence of residence, but residence will rarely be a consequence of nationality, except in cases of recovery.

Therefore, nationality depends on continuous, legal and effective residence.

It is of no use for an investor to maintain the right to renew his residence permit without his absences being taken into consideration, since when applying for nationality this privilege will not be taken into account.

In conclusion, if you are an investor and you want to opt for nationality, you should make the same effort as the rest of the foreign citizens and avoid absences that, although they do not influence your residence permit, they will damage your nationality by residence.

For more information about the golden visa in Spain, access the following link.

If you want to avoid errors in your golden visa application, we recommend read our article 10 mistakes to avoid in the golden visa process, access the following link