Spanish Golden Visa
Euro Zone Profile.
The economic growth of the European Union is not going through its best period. The leaders of the eighteen member states of the European Union are trying to stimulate the improvement of the Euro Zone by encouraging the international trade and investment. Each country is doing a good effort for finding the way out to the economic downfall, especially those nations whose economies are about to collapse, such as Greece, Malta, Portugal and Cyprus, among others.
Ireland and Spain seem to be implementing the most effective measures to encourage foreign investment and improve their economic perspectives in the future. Both of them are opening their boundaries and are passing those necessary laws to make the process smoother for the economic integration of foreigners and potential investors.
Economic Profile of Spain.
Its privileged location, climate and culture makes it quite appealing for potential investors and property buyers. In comparison to other European Countries, Spain enjoys of a fairly good weather throughout the year, plus the tourism is increasing each year. In addition to this, Spain is offering commercial routes to facilitate international trade not only to Europe, but also to America, which in general offers a promising future for investors.
Spanish Golden Visa.
Spanish government has passed a new Law called the new Supporting Act of Entrepreneurs and Internationalization 14/2013 (“Ley 14/2013 de Apoyo a los Emprendedores y su Internacionalización” in Spanish), better known as the Entrepreneurs Law (“Ley de Emprendedores” in Spanish). This law is meant to grant certain benefits to those entrepreneurs who wish to invest money in our country.
This law came into force on September 29th and on its Article 61, it is stated that those wealthy foreigners who fulfill certain investments and transactions in accordance to the norms stated on it will be granted the Spanish residency and the procedure to apply for it shall be facilitated.
Our Law Firm counts with a group of highly qualified attorneys who can guide our clients toward a successful application for they can analyze the applicant’s profile in order to know if he or she will fit the requirements. This law clearly states that those who can apply for a golden visa shall be:
- Highly qualified professionals.
Our immigration and real state solicitors can help you preparing the documentation and reviewing it in order to avoid any inconvenient while applying. Remember that the investment to apply for this visa must be carried in the specific terms and conditions detailed in the Entrepreneurs Law; otherwise, this could cause the rejection of the application.
For instance, the applicant shall fulfill any of the following investments in order to meet the most important requirement for this visa:
- 2 million euros in Spanish bonds or bills of the public debt.
- 1 million euros in shares of a company located in Spain.
- 1 million euros in Spanish bank deposits.
- 500,000 euros or more in property or properties within the Spanish territory.
- Incorporate a company in Spanish territory which could be considered by the Spanish
- administration of general economic advantage.
The aforementioned investments can be credited by submitting any of the following instruments:
- A Certificate issued by the Bank of Spain stating those Spanish bonds or shares that the future applicant have acquired.
- A Certificate stating the amount of money that the future applicant has invested in a company located in Spain or particular business.
- The tittle deed(s) corresponding to the property (or properties) that the future applicant has acquired reaching the required amount to apply
These documents must be submitted along with other general requirements (such as passports copies, criminal backgrounds…) when applying. Therefore, it is important to count with the advice of an expert in the matter to avoid delays. Contact our office to learn about our services and experts.