Emigration Center GARANT.in: Obtaining a “golden” residence permit and its advantages on the example of a specific case.

Our clients are businessmen from the former Soviet Union who run businesses in the EU, the UK and the USA. At the moment, the process of obtaining a visa is becoming more and more complicated, so the most ordinary business trip can become quite problematic or inefficient in terms of the ratio of time spent to benefit from the trip.

Ivan is an entrepreneur from Nizhny Novgorod, the owner of large companies in Russia. Ivan has a huge number of business partners in Schengen countries. He asked us to help him find a residence permit so that he could forget what a visa is for a long time. Having learned all the nuances of the case and the wishes of our client, we have selected the ideal option for Ivan - “golden visa” Spain.

What is a “golden visa”?

In fact, it is not a visa at all. When the EU launched special programs that give foreigners the opportunity to obtain a residence permit in Europe, there was such a concept as a “golden visa”. As you have already understood, it is not a regular visa, but rather a “golden” residence permit (GRP). Such programs began to operate as early as 2013. Some of them have already closed, while programs of certain countries are still in operation.

Why a “golden” residence permit and not a regular one?

After we clarified all the nuances together with Ivan, we came to a common goal - to obtain a residence permit status, which would enable us to visit Schengen countries visa-free. Since it was important for Ivan to get this opportunity as soon as possible, we chose the “golden” residence permit. Moreover, in favor of the “golden” residence permit in Spain played the fact that Ivan and his family have long wanted to buy a villa on the Mediterranean coast for recreation.

So, in order to get a “golden” residence permit Ivan only required the presence of 500 thousand euros for investment in real estate, proof of financial solvency and lack of criminal records. The advantage of the “golden” residence permit is a fairly quick term of obtaining - 3-6 months, in contrast to the usual process, which can drag on for years. Also, the “golden” residence permit together with the main applicant will receive all family members, including financially dependent children up to 26 years old. By the way, Ivan has two minor children - Katya (12 years old) and Arthur (15 years old). 

Why Spain?

Several factors influenced this decision. Firstly, only Spain, Greece and Portugal issue “golden” residence permits. Among the proposed states, Spain has the most stable economy and high standard of living. Secondly, in addition to free movement in the Schengen zone, Ivan also wanted to buy real estate on the shores of the Mediterranean Sea for family vacations. Spain was best suited for these purposes.

Obtaining a “golden” residence permit in Spain

• After Ivan signed a contract with us and submitted a package of documents, we carefully checked and prepared them.
• Then we helped Ivan to find real estate options. Together with the registration process it took approximately 2-4 days.
• After meeting all the requirements of the program, Ivan received a Spanish residence permit card. 

The whole process took about 4 months.

By the way, after receiving his residence permit card, Ivan immediately went on a long business trip and was already able to open a bank account. And Ivan's children Katya (12 years old) and Arthur (15 years old) were able to move to Spain together with their mother (Ivan's spouse) and go to school there.

Results:

1. Fast process of getting a residence permit card - literally 3-6 months.
2. The ability to travel visa-free through the Schengen countries and promptly solve business issues.
3. The ability to freely reside in Spain.
4. Ivan also included in the application his wife and children, who subsequently went to school in Spain.
5. Access to favorable loans and banking services.
6. After 5 years, all investment costs will be returned to Ivan.
7. Information about registration of “golden” residence permit in Spain - confidential.
8. There are no requirements for residence in the country.