- February 13, 2018
- Posted by: CIP Journal
- Category: Golden visa
The Spanish Golden visa programme came into existence on 27 Sep 2013, under the Law 14/2013 (Ley 14/2013), granting residence permits to migrant investors who make a significant investment in Spain. The Law 14/2013, has been modified by Law 25/2015 to support entrepreneurs and their internationalization
Foreign investors must meet the following investment requirements
- Public debt (€2 million)
- Shares (€ 1 million)
- Investment funds or venture capital funds set up in Spain (€1 million)
- Bank deposits (€500,000)
- Real estate (€500,000)
Investors qualify for visa (1 year) when applying outside Spain (Spanish embassy) or will be issued residence permit for 2 years when applying in Spain. Residence permits can be extended for another 2 years. Investors can live and work anywhere in Spain and have freedom to move around in Schengen area for 3 months in 6 month period.
Family members who accompany or join the investor may apply jointly and simultaneously or successively for their residence permit.
The processing time is very fast 10 days for visas and 20 days for residence permit decisions based on investment activity.
Spain Golden Visa Statistics
According to Elpais
- 2,236 investors have benefited from the proposal, bringing in €2.16 billion into Spain
- €2.16 billion invested in Spain , of which 72% has gone into property.
- 714 Chinese nationals have been granted a golden visa since September 2013 after investing €716 million in property, financial assets and business projects.
- Russians, were issued 685 visas and have invested €567 million in property.
- 12,891 foreigners have been issued with residency permits under Spain’s Entrepreneur’s Law