Law 14/2013, approved on September 27, 2013 and designed to attract foreign investments to Spain, introduced for the first time the ability to get visas and residency permits for investors from outside of the European Union – the Spanish Golden Visa.

Said investors have the opportunity to live in and enjoy Spain for a maximum period of 5 years. Additionally, those who hold a Golden Visa can travel freely through the countries of the Schengen Area for a maximum timeframe of 90 days every 180 days.

• You must not have entered or stayed in Spain illegally, or have been denied entry to any of the countries of the Schengen Area.
• You must be a Non-EU citizen.
• You must be over 18 years of age.
• Your criminal record from the last 5 years must be clean in Spain and in the countries in which you have resided.
• You must have a public or private insurance policy which is valid for Spain.
• You must prove that you have sufficient financial means for you (as requester) and your family members to live in Spain.

1. Purchase of real estate property in Spain whose value is greater than or equal to € 500,000 (not including tax). Investment in multiple properties and co-interest ownership are permitted.
2. Purchase of at least 1 million euros in shares of Spanish companies, or deposit of at least 1 million euros into the Spanish banking system.
3. Investment of at least 2 million euros in Spanish Treasury Bills.
4. Undertaking of a business investment that involves generating employment, a local economic impact, or a technological/scientific impact.

Once your Investor’s Residency Visa has been issued, its initial term of validity will be for 1 year. If you maintain your investment, said visa can be renewed for two more years. The total maximum term for all residency permits is five years.

Anyone who holds a legal residency permit for at least five years in Spain could obtain permanent residency or even Spanish nationality if they have effectively and legally lived in the country during those five years: that is to say, they must have lived in Spain for more than six consecutive months each year.

It is a group of 26 European countries that have done away with passports and immigration checkpoints at their common borders. With a Spanish residency permit, you can travel freely throughout the countries in said area.

Investors can travel freely through the Schengen Area for a maximum timeframe of 90 days every half year, counted from the date of their first entry.

The countries that make up the Schengen Area are: Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Liechtenstein, Lithuania, Luxembourg, Malta, The Netherlands, Norway, Poland, Portugal, Spain, Slovakia, Slovenia, Sweden, and Switzerland.

The Golden Visa is extendible to family members like a husband or wife, children who are under 18 years of age, and/or dependent children.

The investor simply has to have traveled to Spain at least once during the visa’s term of validity.

You do not have to establish tax residence in Spain unless you are in Spain for a period of more than 183 days per year.

The residency permit allows you to reside and work in Spain and it is valid throughout all national territory.

Investor’s visa requests will be processed in less than 10 working days from the time the request is made, and residency permits will be processed in less than 20 working days from the request.

No, the Law is only applicable to investments made on or after September 29, 2013.