Golden Visa & Visa in profitable
Do you want to acquire a property and are you outside of Spain?
There are different possibilities to live legally in Spain. However, the best of them all, without a doubt, is the so-called Golden Visa or Residence for Investment and Non-Profit Visa. Therefore, in this article we will explain in great detail everything you need to know about it (benefits, requirements, procedure and much more).
However, if you want to make sure you get a favorable decision contact us so that as your immigration lawyers we will advise you in a personalized way based on the particularities of your case.
In addition, we can help you in issues such as: Getting the home where you want to invest, obtaining the health insurance you will need to carry out the procedure, opening bank accounts, enrolling your children in the school that suits you best, among other things.
1) What is the Golden Visa in Spain?
The Golden Visa or Residence for Investment is an authorization that allows non-EU foreigners (those who are not nationals of a country of the European Union, European Economic Area or Switzerland) to reside and work together with their family in Spain by demonstrating that a significant capital investment has been made in the country and that the rest of the requirements provided for in the Spanish legal system are met.
2) What are the benefits of the Golden Visa in Spain?
In the heading of this article we indicate that the Golden Visa is the best residence that a foreigner can get in Spain. At this point we will show you that this is the case. To do this, we will compare the characteristics of residence by investment in Spain with other types of authorizations. That way, you will be able to realize the great benefits that the Golden Visa will offer you compared to others that are not so advantageous.
3) Golden Visa in profitable.
Applying for residence in Spain by obtaining a non-lucrative Residence Visa is a relatively quick and simple process. Mainly, you must prove that you have enough funds to live without working, for example by keeping an annual balance of € 25,000 in a bank account opened in your name. In addition, you must credit a balance of at least € 550 per month for each family member who will reside in Spain with you. Once you have provided the required documents to prove that you are able to support yourself financially, as well as the people in your care while in the country, you will be granted a Non-Profit permit.
2.1.- It allows you to be absent from Spain for long periods without losing your residence.
Requirements to obtain the Golden Visa in Spain, all residence permits in Spain, both of the general regime and the community, require a constant stay in the country (more than 6 months for each year).
If this permanence requirement is not met, the residence would simply be extinguished and at the time of renewal the application will be rejected (Articles 162.2 e) of the Aliens Regulation and 14.3 of Royal Decree 240/2007, respectively).
However, with the Golden Visa, in Spain the panorama is completely different, because you and your relatives will be able to absent you practically for all its validity, without this implying your loss. This is provided for in the sixth additional provision of Law 14/2013, of September 27, on support for entrepreneurs and their internationalization (Hereinafter Law 14/2013), according to which «the renewal of residence may be carried out even if there are absences of more than 6 months a year in the case of residence visas and authorizations for foreign investors».
This will allow you to travel to other countries inside and outside Europe, either for pleasure or even to attend to the business you carry out in other latitudes.
In addition, if you need a SchengenVisa because of your nationality, it will no longer be necessary foryou to apply for it every time you want to enter Europe. In other words, you can enter and leave Europe as many times as you want without having to be subjected to the tedious procedures before the different Consulates and Embassies.
2.2.- It allows the relatives of the investor to accompany him from the beginning.
One of the most difficult things about leaving the country of origin is precisely the fact that we are away from our closest loved ones.
The figure of family reunification for non-EU foreigners exists both in other types of residence and in the Golden Visa, but the differences are abysmal. Let’s look at some of the disadvantages of ordinary family reunification and the advantages of accompaniment in the residence by investment:
- A) In the ordinary family reunification the applicant(sponsor)must be in Spain alone and after one year (at the time of requesting the renewal of his residence or even when said renewal is approved) is that he will have the possibility of reuniting with certain of his relatives (Article 56.1 of the Aliens Regulations).
On the contrary, the Golden Visa in Spain allows the investor’s relatives to benefit from this type of residence simultaneously. In other words, there will never be a separation from the family unit by not having to wait 1 year to exercise this right (Article 62.4 of Law 14/2013).
- B) In ordinary family reunification, children over the age of 18 may not be regrouped, unless «they have a disability and are not objectively able to provide for their own needs due to their state of health» (Article 53 (c) of the Aliens Regulations).
On the other hand, the Golden Visa allows the accompaniment of children over 18 years of age, as long as they are economically dependent on the family member and have not constituted their own family unit (Article 62.4 of Law 14/2013).
- C) In ordinary family reunification, the parents of the sponsoring foreigner may benefit, provided that «when they are in their care, are over 65 years of age and there are reasons that justify the need to authorize their residence in Spain» (Article 53 e) of the Aliens Regulations).
Additionally, «the sponsor will have to be the holder of a long-term or long-term EU residence permit granted in Spain for the reunification of their ascendants» (Article 56.1 a) of the Aliens Regulation). In other words, the applicant will have to have resided at least 5 years in Spain in order to regroup their parents.
This does not happen with the Golden Visa, because parents, even under 65 years of age, can obtain a residence as companions and this can be done from the beginning, that is, it will not be necessary to wait 5 long years to regroup them (Article 62.4 of Law 14/2013).
As previously indicated, the differences between ordinary family reunification and the accompaniment of relatives in the Golden Visa in Spain are abysmal. Therefore, whenever you have the possibility of obtaining residence by investment, you must opt for this and not for another type of authorization in matters of foreigners.
2.3.- Obtaining Spanish nationality by residence.
Residence by investment in Spain In accordance with the provisions of article 29.1 of Organic Law 4/2000, of January 11 (hereinafter the Aliens Law), «foreigners may be in Spain in situations of stay or residence».
The typical cases of foreigners who are in a situation of stay are tourists and students. These will never be able to opt for Spanish nationality by residence because their situation in Spain is of stay.
On the contrary, a person who has a permit such as the Golden Visa will be able to opt for nationality because he has been in a situation of residence. Therefore, it complies with the provisions of article 22.1 of the Civil Code for the acquisition of nationality.
In addition, in relation to Ibero-American citizens it should be noted that with only 2 years of residence they can already opt for Spanish nationality, that is, the general rule of 10 years does not apply to them to be able to apply for it.
If you want to know more about the APPLICATION FOR SPANISH NATIONALITY BY RESIDENCE, the procedure and in general the requirements to obtain it, you can do so through the previous link.
2.4.- Includes work permit for the investor and his relatives.
We have properties in Marbella, Mallorca, Ibiza, Canary Islands, Barcelona, Madrid, Valencia, Alicante and Murcia. Without intermediaries, directly from the owners.