How is the application process for the Spanish Golden visa?

The Spanish Golden Visa program is a unique sort of residence designed for those from outside the European Union who desire to migrate to Spain and invest heavily. A Golden Visa for Spain, also known as the Spain Investor Visa, is a residency permit granted to non-EU individuals who make a major investment in Spain, such as purchasing real estate, starting a business, or creating jobs.

With the booming real estate market in Spain, purchasing property and obtaining residence becomes every foreign investor’s golden ticket. Non-Europeans must go through a lengthy process to get a residency visa. To obtain a visa, a great deal of documentation is required; hence this residency permit has grown in favor in recent years promising quick and easy steps.

With Orience, the process is a stress-free journey with important advice and guide for the investment project. Professional support from a team of reliable partners ensures a secure transaction to obtain a Spanish Golden Visa safely and hassle-free.

Buying and selling real estate in Spain is within your reach

Property rights are completely unrestricted in Spain. Non-EU citizens have the same rights to property as Spanish nationals. Owning properties in Spain for non-residents needs the following requirements:

  1. Valid passport from the place of origin: Foreigners who are not EU members must obtain a visa in order to enter Spain’s territory, which may be formalized at the Consulate General of Spain. The visa is not required for the property acquisition.
  2. Foreigner Identification Number (N.I.E): The N.I.E number is a personal and unique tax identification number used in Spain to trace all financial and legal transactions assigned by the Foreigners Office. This number does not allow you to live in Spain, but it is required for any economic transaction such as purchasing a home, starting a business, purchasing a car, or filling out any administrative application form at the foreigners’ office. This procedure must be completed in a police station, and Orience assists its clients throughout the process by providing all essential assistance.

All the steps in formalizing every sale and purchase of real estates, from the registration of property through signing of preliminary agreement between the seller and the buyer, to the processing of N.E.I. requests, signature of deed, and up to the registration of the property which will be necessary to receive your Golden Visa, will be formalized step by step with Orience.

We know how time is valued preciously. Thus, flying in and out of Spain to manage property acquisition can be very difficult but definitely possible with assigned powers to professional associates to perform steps needed.

Through authorized powers of applicants, the following steps can be executed swiftly.

  • Signing of applicable service and down payment contracts.
  • Granting of powers to professionals before notary.
  • Application of your own Foreigner Identification Number (NEI).
  • Opening and managing necessary bank accounts under your name. This will be done in a local bank to process check payments for the real estate.
  • Obtaining a purchase signature for your dream property in Spain.
  • And lastly, representing you before the authorities acting on taxes from the processes and operations.

Benefits of the Spanish Golden Visa

Through the investment program that will ensure a Golden Visa, investors and their families are given visa-free travel across the Schengen Area of Europe. But it also pays to understand applicable regulations for residence visa for investors.

The Spain government enacted the Law 14/2013, 27th September which gives support to entrepreneurs and their internationalization. Foreigners’ rights and freedoms in Spain, as well as their social integration, are protected by Organic Law 4/2000 of January 11.  This Organic Law is supported and approved for regulation by the Royal Decree 558/2011, April 20th.

Next, understanding the timeline of visa applications, and the years it covers can help you plan your stay in Spain.

  • A 1-year visa must be obtained from the Spanish Consulate.
  • A 2-year authorisation will then be given in the Unit of Companies in Spain together with the Spanish Identity Card.
  • Residency Authorization of 5-year will next be given by the Unit of Companies in Spain together with the Spanish Identity Card only if the investment is maintained.
  • After the 5-year Residency Authorization, one can choose between a renewable visa or a permanent residency if you choose to live in Spain for 5 years continuously.
  • After your permanent residency, a Spanish Nationality will be awarded after 10 years when you pass a Spanish language and culture exams.

Non-residents interested in making a big investment in Spain can apply for a stay visa or, in rare situations, residence for investors. The issuance of a resident visa for investors will suffice as proof of intent to stay in Spain for at least one year. But, any of the following investments must be met first:

  • Two million euros in Spanish government bonds; or one million euros in shares or social participations in Spanish capital businesses having an actual business; or one million euros in investment funds; or one million euros in bank deposits in Spanish financial institutions.
  • Each applicant must purchase real estate in Spain with an investment of at least 500,000 euros.
  • A commercial venture that will be developed in Spain that is deemed and accredited as being of general interest.