Golden Visa: What is it, how to obtain it and what are its benefits in 2023?

The Golden Visa, or Investment Visa, is a document that allows a foreign investor holder and his dependent family to obtain residence in Spain and, consequently, the right of free movement in the 26 countries that make up the Schengen area.

The Schengen area, on the other hand, is an area made up of 26 countries that have agreed to abolish internal borders. This allows people to move freely and without restrictions of goods, services and capital.

Member countries of the Schengen area:

How to obtain a Golden Visa?

You can obtain a Golden Visa in Spain for you and your family in a simple and beneficial way. The Spanish government promotes the entry into the country, for reasons of economic interest, to foreigners who are not members of the European Union. Thus, you and your family can enjoy all the advantages that Spain offers as a destination while maintaining a significant investment in the country. This investment visa program allows you to obtain Spanish residency in several ways:

• Acquisition of real estate in Spain with an investment of 500,000 euros net and unencumbered.
• Monetary investment of more than 1 million euros in shares of Spanish companies.
• In bank deposits or more than 2 million euros in Spanish public debt (bonds).
• Foreign companies starting the project in Spain. The report of interest must be requested from the Directorate General for Trade and Investment.

The process is very simple with the help of our specialists in legal, tax and immigration advice.

• You must gather the necessary documentation according to the type of buyer you are.
• Your application applies to 3 different financial institutions
• An economic study is carried out to determine the viability of the investor.
• Once your loan is approved, the documentation is formalized with the notary (this process can take up to 15 days).
• You must go to the Spanish Consulate and obtain your NIE (Número de Identidad de Extranjero) and open a bank account with the bank that granted the loan.
• It is necessary to cover extra expenses, such as life insurance and homeowner’s insurance. Our experts will make sure that they are only the essential ones.

4 Golden Visa benefits for investing in Spain

1. The Golden Visa can be applied for by the dependent family of the principal investor, i.e. spouse and children, without further investment. Even the investor’s parents can apply as long as they can prove that they are dependents.

2. Children and young people under the age of 18 can receive 12 years of free education in local public schools.

3. For babies born in Spain, a Spanish passport can be applied for after one year.

4. No minimum period of residence in Spain of 183 days is required for the renewal of the permit (the permit holder may maintain his/her fiscal domicile outside Spain).

Most important documents for applying for the Golden Visa

• Presentation of certificate that includes the information of the possession and charges of the Property Registry corresponding to the real estate or real estate.

• Not having entered or remained in Spain illegally.

• Be a spouse, registered partner, dependent ascendant or economically dependent child of the investor.

• No criminal record in Spain and in the countries where the applicant has lived during the last 5 years.

• Have health insurance with an entity authorized to operate in Spain.

• Have sufficient economic resources for the person and his/her family members during the period of residence in Spain.

• Visit Spain at least once during the validity of the visa or permit.

• Pay the tax for the authorization process

At Nolab we have luxury properties in Spain in Alicante, Barcelona, Cadiz, Malaga, Madrid and more, with which you can qualify for this European permit and enjoy its many benefits. Contact us, our specialized agents are ready to provide you with all the necessary information for your investment.