In 2013, Spain passed Law 14/2013 to support entrepreneurs and their internationalization. This law establishes new reasons for obtaining residency in Spain, including investment in the country's economy.
How to apply for an investor visa or residence in Spain in 2020:
What investments are required?
The minimum investment amount is as follows:
• Real estate assets — 500,000€, or
• Shares and bank deposits — 1,000,000€, or
• Government bonds — 2,000,000€.
Investors who prepare a project that creates jobs, invests in the socio-economic field, or innovations in science and technology are also covered by this law.
The experts at Altamar Tenerife help select properties, negotiate with banks and financial institutions, and prepare and agree on the investment project.
Who can obtain residence alongside the investor?
The residence for investors in Spain can be granted to all family members: spouses, minor children, financially dependent adult children, and parents.
What documents are needed to obtain the "golden visa"?
It is crucial to correctly prepare the documents related to the investment. Each type of investment will require a different set of supporting documents. It is also necessary to prove sufficient funds for living in Spain, usually money in a Spanish bank account. Health insurance and a criminal record certificate are required. The good news is that it is not necessary to prove income outside of Spain to obtain the investor visa or residence.
Where and for how long are investor visas or residences processed?
The documents can be submitted at the Spanish Consulate in your country or in Spain.
At the Spanish consulates, only investor visas can be processed. If the investments are confirmed, a visa is granted for one year. A six-month visa can be obtained with a preliminary contract (contrato de arras) for the purchase of a property. After obtaining the investor visa, it is not necessary to process the residence card.
In Spain, an investor residence can be applied for. This can be done with or without the investor visa obtained at the consulate. Upon obtaining the investor residence, the residence card must be processed at the police. The initial investor residence is granted for two years, renewable for five years.
Altamar Tenerife helps to submit the documents electronically in Spain, at the Unidad de Grandes Empresas y Colectivos Estratégicos, free of charge if the property is purchased through our agency.
Advantages and disadvantages of residence in Spain for investors
Advantages:
• Unlike other types of residence, it can be granted to common-law partners, financially dependent adult children, and parents. The "golden visa" grants the right to work in Spain to all family members of the investor.
• This type of residence has an accelerated process: 10 days for the visa, 20 days for the residence.
• Actual residence in Spain is not required (more than 183 days a year); it is enough to visit Spain once during the validity of the residence.
• The investor visa allows remaining a tax resident of another country, as it does not require living in Spain for more than six months.
• The "golden visa" can be processed without leaving Spain if one is legally in its territory.
Disadvantages:
• Relatively high required investment amount.
• It is necessary to maintain the investment volume to renew the residence.
• Maintaining tax residency in another country can complicate obtaining long-term residence and Spanish citizenship.
Altamar Tenerife thoroughly analyzes the situation of its clients and advises on the possible negative consequences of obtaining residence or changing tax residency.
Why do clients choose Altamar Tenerife for processing the "golden visa"?
Preliminary assessment of your situation and personalized recommendations
The decision to invest or move to another country is not taken lightly. It is necessary to foresee all financial and other consequences, weigh the pros and cons of changing tax residency, think about future steps, and know the implications of changing or disposing of the investment.
Comprehensive advice at all stages of property acquisition and obtaining residence
We will be with you at all stages: from selecting the property to obtaining the residence card. We will advise and support you at every moment: reviewing property documentation, preparing documents for the notary, accompanying you to the notary, advising and assisting in obtaining a mortgage, advising on document collection, and assisting in the application process.
Confidentiality
All information about you and your investments will be protected by the personal data protection law and, above all, by our reputation.
By collaborating with us, you gain