The Golden Visa: immediate residence for investors

Investors, entrepreneurs and highly qualified personnel can easily obtain a
residence permit in Spain thanks to the Golden Visa, a programme to attract talent and
investment.

Since 2013, Spain has had a specific investor attraction plan that grants highly
qualified profiles a residence permit almost immediately, as long as they meet a series
of economic requirements on their arrival in our country. The “Residence Programme
for Investors and Entrepreneurs”, better known as the Golden Visa, is a specific
mechanism that speeds up the entry of non-EU investors into Spain, reducing the
period for obtaining a visa to just 10 days; 20 days for the residence permit. The
ultimate objective of this programme is to promote economic growth and job creation
by attracting foreign investment.

The “golden visa” is a special permit that allows its holder to live and work in
Spain for an initial year plus two years of residence permit, which can be extended up
to five years in the case of investors. After that period, permanent residence may be
applied for. This visa does not require the minimum stay in Spain required by the
general law on foreigners to grant residency (183 days a year), but it is sufficient for the
applicant to travel to Spain once a year. With that, both the bearer and his or her family
members will be able to move freely throughout the 26 countries of the Schengen area.

Why is there a difference between a Golden Visa and a normal visa? Because
the purpose of the Golden Visa is to attract investors, entrepreneurs and highly
qualified personnel to our country. Hence, its regulatory development is not regulated in
the law on foreigners, but in Law 14/2013 on Support for Entrepreneurs and their
Internationalisation, which creates a specific office for its application and processing,
the “Unit for Large Companies and Strategic Collectives”, UGE-CE.

As a general rule, in order to obtain both the initial visa and the subsequent
residence permit, applicants need several mandatory documents:

 Passport or NIE.
 Public or private health insurance.
 Criminal record certificate. No criminal record in Spain or in the countries
where they have resided in the last 5 years.
 Proof of sufficient financial means for yourself and your family members
during your period of residence in Spain.

In addition to this, depending on the applicant’s profile, additional documents
will be required.

In this way, different strategic groups have been identified as eligible for the
residence permit granted by the Golden Visa.