Golden Visa Spain

Raymundo Larraín Nesbitt, June, 8. 2017

Lawyer Raymond Nesbitt gives us a brief outline on the application for a so-called Golden Visa in Spain and its incredible advantages for non-EU nationals.

By Raymundo Larraín Nesbitt
Director of Larraín Nesbitt Lawyers
8th of June 2017

Golden Visa Spain

The Spanish Golden Visa scheme has become the gateway to Europe for thousands of applicants pursuing the European dream. They have combinedly invested over 2 billion euros since its launch in 2013. Spain has overtaken Portugal becoming Europe´s number one Golden Visa supplier.

This scheme allows applicants and its dependants unfettered access across Europe´s Schengen Area.

Although the procedure was initially tailored to attract affluent Chinese and Russian citizens, British nationals should seriously consider looking into this procedure with renewed interest.

The reason is because the UK has opted out of the European Union. This scheme would allow British nationals that lack a EU passport to travel across Europe skipping pesky passport controls in equal terms to EU nationals. Just like before the UK decided to break away from Europe.

If you want more details, please read my in-depth article: Investor Guide to Spain’s Golden Visa Law. You can hire the Golden Visa legal service from our law firm. More information here: Golden Visa Application.

Thousands of non-EU nationals have already benefitted from this scheme, securing their families’ future and well-being.

Why haven't YOU invested in your family's future?

Golden Visa Advantages

Fast-tracked. This law is specifically tailored to attract affluent non-EU investors, and helps cut through the red tape.
Travel Europe visa-free. You can travel without a visa for 90 days out of every 180 days within the Schengen Area, but you will still need a visa to enter EU countries outside the Schengen Area (for example the United Kingdom).
Clear rules. Initially 1 year (Residency Visa), then 2 years (Residency Permit), renewable indefinitely every 2 years.
No need to become resident in Spain. You only have to visit Spain once to get or renew the Residency Permit. There is no minimum stay requirement, and you don’t have to become a fiscal resident or actually live in Spain.
Family included. You may get additional permits for your spouse and children under 18 years (or disabled children over 18). Same-sex partners inclusive.
Spanish nationality (optional). This is a 2-year Residency Permit, not the right to permanent residency or a Spanish passport. However, it can lead to long-term Spanish residency after 5 years of continuous residence, and citizenship after 10 years.
Underaged children may study in Europe. Underaged offspring can live and study in Spain, in company of your partner, whilst you work and earn money abroad.
Return on investment. Take advantage of Spain´s burgeoning real estate recovery. Prices are starting to rise led by Madrid and Barcelona. Rock-bottom property prices will not last forever.

General Requirements

Applicants pursuing investor visas must comply with the following general requirements:

Non-EU national.
The investor applicant must be of legal age (18-years-old or over).
The investor must not hold a criminal record whether in Spain or in the previous five years where he has resided.
Not be already in Spain irregularly.
Have access to medical insurance whether private or public.
Have sufficient financial means to support both himself and his family whilst in Spain.
Pay the relevant application fee.

Specific Requirements

Qualified residency permits to non-EU residents will be offered in return for any of the following:

Investing at least €500.000 in Spanish Real Estate property (unencumbered, without taking a mortgage on said amount, you may apply for a mortgage on the excess).
Investing at least €2.000.000 in Spanish Treasury Bonds.
Investing at least €1.000.000 in shares of Spanish Companies.
Depositing at least €1.000.000 in Spanish Bank Accounts.
A ‘major’ business investment which fulfils at least one of the following three conditions:

Meaningful job creation as a direct result of the investment.
Significant socioeconomic impact in the geographical location where the activity will be carried out.
Technological or scientific impact.

The predecessors plant trees [and] the next generation cools off in the shade – Ancient Chinese proverb.

Larraín Nesbitt Lawyers, small on fees, big on service.

Larraín Nesbitt Lawyers is a law firm specialized in taxation, inheritance, conveyancing, and litigation. We will be very pleased to discuss your matter with you. You can contact us by e-mail at info@larrainnesbitt.com, by telephone on (+34) 952 19 22 88 or by completing our contact form.

Legal services Larraín Nesbitt Lawyers can offer you

Golden Visa related articles

• Investor Guide to Spain’s Golden Visa Law – 8th November 2013
• Buying Property in Spain – 10 Reasons to Hire a Lawyer – 8th November 2016
• Buying Property in Spain from a Private Seller (Resale Property) – 21st of February 2017
• Buying Property in Spain from a Developer (Off-Plan Property) – 8th March 2017

Please note the information provided in this blog post is of general interest only and is not to be construed or intended as substitute for professional legal advice. This article may be posted freely in websites or other social media so long as the author is duly credited. Plagiarizing, whether in whole or in part, this article without crediting the author may result in criminal prosecution. VOV.