Investment Guide to Spain’s Golden Visa for 2024

Suitable for citizens of the UK, USA, United Arab Emirates, India, China, Lebanon, among others, the Golden Visa's primary objective is to boost Spain's economy, create new jobs, and attract fresh talent. Often referred to as the investor visa, this program eases the process for investors to obtain residency through an investment.

The Spain Residency by Investment program provides various investment options, including:

• Investing a minimum of 500,000 € in Spanish Real Estate (without a mortgage), focusing on encouraging property investment.
• Investing 2 million € in Spanish public debts.
• Investing 1 million € in shares of Spanish companies.
• Depositing 1 million € in a Spanish bank account.
• Initiating a business project in Spain that supports employment, technological or scientific innovation, or generates socio-economic impact in the local community. However, the visa requires several considerations before approval.

In addition to the investment criteria, the Golden Visa in Spain necessitates meeting specific non-investment-related prerequisites:

• Minimum age of 18 or older.
• Possession of public or private health insurance from an authorized company in Spain.
• Demonstrating sufficient financial resources to cover personal and family living expenses while residing in Spain.
• No history of being denied entry into any Schengen country.
• No previous illegal entry or stay within Spanish territory.
• Clear criminal record both in Spain and the country of residence within the last 5 years.

Duration of the Spain Golden Visa
The validity period of the Golden Visa differs based on where the application is filed: in Spain, requiring legal status in the country, or from abroad.

When applying from abroad, the residence permit is initially granted for 1 year. If requested within Spain, it's extended to 2 years.

Upon expiry, beneficiaries can apply for visa renewal, leading to an additional 5-year residence permit.

For successful renewal, two primary conditions must be fulfilled:

1. Proof of the ongoing validity of the initial investment leading to the Visa.
2. At least one visit to Spain during that year.

What family members can be included on the Spain Golden Visa?
The Golden Visa program enables permits for various family members of the main applicant, extending to:

• Spouse or person in an analogous relationship
• Dependent minors under the age of 18
• Persons who are financially dependent on the applicant and who have not yet formed their family unit.
• Parents in a situation of dependency with the applicant.

Once the application is approved, the family members will receive the residence permit and enjoy the same benefits as the applicant.

This program requires a very specific situation, but the benefits related to your Spanish residency are remarkable. Holding a Spain Golden Visa means:

• It grants you entry into the EU (Schengen area).
• You can apply for the same permit for your spouse or partner, minor children, or of legal age, whom -financially depend on you, including dependants in the ascending line.
• You only have to visit Spain once a year in order to maintain the permit, and even then staying for extended periods is not necessary.
• The first residence permit for investors is valid for two years. Once that period has expired, non-EU investors who are interested in residing in Spain for a longer period may apply for renewal of the residence permit for successive 5-year periods, as long as the conditions are maintained.
• You obtain the right to work as an entrepreneur or employee once you’ve been granted the 2-year permit.
• After five years it is possible to gain permanent residency and after ten years citizenship.

At UTRUST, our extensive services cater to diverse investor needs. Backed by a dedicated team with years of expertise in legal advice, visa facilitation, immigration support, residency applications, and investment prospects, we ensure a comprehensive solution for global investors. With our deep local insights and specialized proficiency, we offer a professional, customized, and trustworthy service, including expert management of the Spanish Investment Visa. Contact us at info@utrust.es to start your Spanish Real Estate journey.