Golden Visa

Since the entry of the Law in Support of Entrepreneurs, along with the already known nonprofit residence permission, appeared very similar figures that coexist with the previous permissions offering new options and alternatives.

To determinate the type of residence must be one of the main decisions of foreign citizens interested in reside, work or start a business in Spain. To choose one or the other alternative is essential to know the main differences, advantages and disadvantages of residence for investors and entrepreneurs.

Being very similar to the non-profit residence, the purpose of the residence for investors is not the desire to attract residents with some purchasing power, but in attracting foreign capital. Therefore, the main requirement is an investment, which may be in debt, or in companies or financial institutions, the most popular and simplest of them, is the investment in properties for an amount equal to or greater than 500,000 euros.

One of the main advantages is that it does not limit the length of residence in Spain. The holder may reside in Spain during the period of validity or, if desired, come only to renew the residence. In other words, it allows the holder to choose between reside in Spain (becoming tax resident) or use the residence as a mere multiple-entry visa with no maximum limit of stay. The processing time of visa and residence is very small. It lasts get the visa less than one month from the filing of the application. You are authorized to work in Spain from the firs day. The investor and his family members can perform restorative work activity both on its own as an employee. For renewal, it is essential to demonstrate that the investment remains. Consequently, it is necessary to maintain the investment in the Spanish economy, although it may be the same or a new investment while respecting the amounts required.

Note that in addition to these differences, these permitions agree in that both permit the residence in Spain and to travel freely throughout the Schengen territory. Also, the new law of entrepreneurs reffers to the immigration one in the relation to long-term residence. So, you may apply for long-term residence after a real residence in Spain for five years and the Spanish nationality after 10 years of residence.