Frequently asked questions
In order to apply for a Golden Visa, do I have to buy a single property for an amount of €500,000?
No, you don’t. The applicant may invest in one or more properties in order to comply with the said minimum amount required by law.
The applicant shall prove that he or she can perform such investment free of any burdens or encumbrances.
What type of property can I acquire to apply for this Golden Visa?
You may buy a property for commercial or residential purpose. The applicant may even acquire a land in order to develop a commercial project or urban plot.
After I complete the relevant investment according to the Law, will I receive immediately the residency?
After you complete the relevant investment, you shall apply for Spanish residency and submit all the necessary documentation in connection thereof plus the supporting documents related to the investment you performed. The entrepreneur’s law just facilitates the time of process of the application (less than one month from the application date).
In other words, when applying for residency you shall submit a document proving the investment, passport copy, international health insurance, birth certificate, marriage certificate if applicable, among other documents. Therefore, we recommend you to count with the guidance of an immigration attorney as well to make sure that all the document comply with the Law.
If I had bought a property or performed a significant investment before the entrance into force of this new law, will it count for the golden visa?
Any investment fulfilled prior September 29th of 2013, when the new Supporting Act of Entrepreneurs and Internationalization entered into force, will not be considered an investment performed according to this Law.
Therefore, if you wish to apply for this Law, you should consider any investment done after October 2013.
After I get the Spanish residency through the Golden visa, should I reside permanently in Spain?
Contrary to other residency permits, in this case you don’t need to reside permanently in our country. There isn’t a minimum period to stay in Spain, thus making it optional.
Once I’m granted the residency through a Golden Visa, will I be bound to pay taxes in Spain?
You will be able to keep your fiscal address out of Spain, unless you spend more than 183 days in Spanish territory, in which case you shall pay the corresponding taxes.
Will I be granted the European passport once I become holder of a Golden Visa?
You will be entitled unlimited movement throughout the Schengen Area. However, the Spanish passport will be granted with the Spanish citizenship which you can apply after complying with a certain period of residency in Spain.
Can I include my family when applying for a Golden visa?
As long as the main applicant can prove that he or she counts with sufficient financial means to cover his/her family members’ expenses while living in Spain, they will be granted the Spanish citizenship as well. The law includes spouse and children (under 18 years old).
For how long will be granted the Spanish Residency?
The Spanish Residency will be granted for an initial period of two years, later it can be renewed for another five years period. In this case, the applicant will be on the right path toward the eventual application for nationality or European passport.
If you have further doubts or questions contact our Law Firm for our Real Estate and Immigration attorneys will be glad to help you meeting all the requirements and complete all the stages to successfully complete your investment and visa application.