European countries attract foreigners with their high standard of living, prosperous economy, and wide opportunities for business, recreation, and travel. Warm and rich Spain is invariably the focus of attention of many people intending to make investment immigration.

The old migration policy of the state imposed some restrictions on investors, for example: when buying real estate, the resident received a residence permit without the right to work. In such circumstances, citizenship of Malta or St. Lucia was easier and more profitable to obtain. Recent changes in Spanish legislation significantly expanded the rights of investors and progressive businessmen, allowing them to obtain the so-called "golden visa".

"Golden Visa" investor

Residence permit for an investor in Spain - golden visa

Residence permits for people who are ready to make significant investments in Spanish economic development and real estate, opens up wide horizons for them. The owner of the "golden visa" can now not only reside on Spanish territory for a long period, and visit visa-free EU countries, but also to work. The list of persons to whom the investor can issue a residence permit is also quite wide. These include close relatives of the investor, financially dependent on him:

1. Husband/wife (including common-law spouses);
2. children who are underage or who have reached adulthood but are financially dependent;
3. parents.

The main condition that must be observed by the investor: is to properly prepare the package of documents specified for certain types of investments. It is also mandatory to confirm the absence of problems with the law and the availability of finances for living in Spain. Documentation can be submitted to the Spanish consulate in his homeland, waiting for the receipt of an investor visa. Or you can apply for a "golden visa" after arriving in Spain.

What investments are needed

To induce the Spanish government to issue a "golden visa" can go several ways:

• under the investor program;
• on the program of the entrepreneur.

To get the status of an investor must:

• to purchase real estate worth 500 thousand EUR or more;
• open a bank deposit with the size of the deposit from 1 million EUR;
• buy shares in a Spanish company for 1 million EUR;
• invest in government bonds worth 2 million EUR.

To become an entrepreneur and obtain a residence permit, you need to register your own company in Spain or purchase a controlling stake (more than 51%) in an existing company.
The specified amounts of contributions for obtaining a residence permit are calculated for one adult with legal capacity. That is, for a family of two adults, the minimum investment amount will increase to EUR 1 million when buying real estate. To avoid unnecessary spending, it is enough to make the purchase and a resident card to one of the spouses, and then make a request for family reunification.

Before the adoption of amendments to the legislation owners of Spanish real estate issued a residence permit without the right to work. Now the situation has changed and the "golden visa" equalizes the rights of all investors. Real estate can be land plots, residential and commercial premises. If you have purchased one or more objects, and intend to rent them out in the future, you will have to register a company and register the property on a legal entity.

Advantages of the program

Registration of a residence permit for investment is a fairly quick process, which has several advantages over other ways of obtaining the status. The conditions of the program assume:

• Possibility of issuing to all close relatives and their obtaining the right to work in Spain.
• High speed of application processing (10 days for investor visa, 20 days for residence permit).
• No need to live on the territory of the state for at least 183 days a year. The country can be visited even once during the entire period of validity of the status.
• Ability to remain a taxpayer of another country and not to file a tax return in Spain (except for entrepreneurs and people residing in the state).
• The ability to apply for a "golden visa" and renew it without leaving the country.
• The right to request a resident card during the year of the investor visa and three months after its completion.

But the investor program has additional conditions to keep in mind:

• The obligation to maintain the amount of investment contributions for the renewal of the residence permit;
• availability of health insurance;
• the need to refuse fiscal residence in another country if you want to later obtain citizenship.

Procedure for obtaining a residence permit in Spain for investment

To obtain a residence permit, the investor must pass two stages. Each of them requires a different set of documents.

On the territory of his native country should apply to the Spanish consulate with the following official papers translated into Spanish and legalized in the consulate:

• a valid passport with at least 1 year to expiration date;
• internal passport;
• 4 photos on a white background;
• bank documents confirming financial guarantees (minimum 40 thousand EUR on personal account);
• preliminary contract for the purchase of real estate, worth 500 thousand EUR or more, or proof of a controlling interest in the company owning the real estate;
• health insurance policy (private company);
• international criminal record certificate;
• additional documentation required by the consulate in individual cases.

After arrival in Spain, a resident card is issued there. If obtained in Madrid, the card will be valid for two years, but financial guarantees must be at least 80 thousand EUR. To obtain it you need:

• updated documents previously submitted to the consulate;
• passport with an investor visa and entry stamp;
• Spanish residence permit.

In the future, the residence permit can be extended for 5 years.

The issuance of a "golden visa" under the investment immigration program is one of the fastest and most often satisfying ways to legally obtain the coveted status in Spain for yourself and your family.