Spain offer golden visa to attract foreign investments, it introduced to issue visas and residency permits for investors from outside of the European Union.
With golden visa investors have the opportunity to live in and enjoy Spain for a period of 5 years. Those who hold a Golden Visa can travel freely through the countries of the Schengen Area for a maximum time of 90 days in every 180 days.
For Golden Visa in spain, following types of investments are done:
- Property Investments:
Acquisition of property above € 500,000 [INR 4,05,88,778.21(1euro=81.18 indian rupee)]
- Capital Investments:
Deposition of amount equal or greater than€ 1,000,000 [INR 81,17,755.64] in Spanish bank. Acquisition of Spanish company shares € 1,000,000 [INR 81,17,755.64]. Investment of at least € 2,000,000 [INR 1,62,35,511.28] in Spanish Treasury Bills.
- Job creation:
There should be Creation of minimum no. of 10 jobs.
The Golden Visa Program maintains a set of general requirements which is applicable to all types of investments mentioned earliar.
- Investor must not have entered and stayed in Spain illegally.
- Investor need to be a Non-EU citizen.
- He/she must be above 18 years.
- There should be no criminal record from the last 5 years in Spain also in the countries in which he/she have resided.
- He/she must have a public/private insurance policy which need to be valid in Spain.
- He/she must prove the sufficient financial means in order to live with his/her family members in Spain.
Documents Require For Golden Visa:
The applicants for the Golden Visa have to submit the following documents:
- Proof of Investment that is made in spain.
- Passport with Valid Schengen Visa.
- Criminal Record from country of origin or residency (of investor)
- Declaration from the Tax Department proving the absence of debts to the Tax Authorities
- Declaration from Social Security proving the absence of debts to Social Security Authorities
- Declaration from the investor confirming fulfillment of the investment requirements.
- Initial application fees payment receipt.
Time Involved In Processing:
Investor’s visa request will be processed within ten working days. Residency permits will be processed within twenty working days from the request.
Criteria For Applying Permanent Residency:
The investor and family members will have to meet the following criteria in order to be able to apply for Permanent Residency in spain:
- Absence of any criminal records during the last five years.
- Proof of income of investor.
- Proof of accommodation in spain
- Investor must have lived in Spain for more than six consecutive months each year.
Benefits Of Spain Golden Visa:
- No need to obtain a visa to enter spain and to travel in Europe schengen area.
- Residency extended to family members.
- Freedom to use, rent or lease the property which is acquire by the investor.
- Possibility of co-ownership within invested property.
- Spain provide to enjoy one of the best and highest quality lifestyles.
- Best place to invest here as residence and for a home.
- It provide investment for those that looking for the lifestyle property.
- Best investments are made in coastal areas.
- The investor has to travel once during the visa’s term of validity.
Points To Remember:
a)One should maintained the investment for the minimum period of 5 Year.
b) One should complied with the minimum periods of stay in spain.
c) One should not have got a prison sentence of more than one year.
d) One should not have any diseases that have been defined by the World Health Organization or other infectious or parasitic contagious diseases which are the object of protection measures in spain territory
e) A Golden Visa may be refused on the grounds of public order, public security or public health.