Madrid
Commonly known as the Golden Visa, it is undoubtedly the most favourable and flexible of all authorisations to reside and/or work in Spain.
Law 14/2013 of 27 September 2013 on Support for Entrepreneurs and their Internationalisation includes the regime applicable to foreigners who make significant investments in Spain. Although it is a regime that allows them to obtain a residence and work permit in the country, it is not considered an ordinary foreigners' regime, as it is subject to specific regulations and different processes. The processing of these permits is carried out through the UGE (Large Companies and Strategic Collectives Unit) with express resolution times that usually do not exceed 20 days and with other added advantages.
At present, the different possible types of investment contemplated by the regulations and their minimum amounts are as follows:
(a) Real Estate located in Spanish territory, with a minimum investment of €500,000 free of encumbrances.
b) Spanish public debt for a minimum amount of €2,000,000.
c) Shares or holdings in Spanish capital companies with real business activity for an amount of €1,000,000.
d) Investment funds, closed-end investment funds, venture capital funds or bank deposits set up in Spain for a minimum amount of €1,000,000.
e) Business projects that generate employment, have a relevant impact on the region where they are developed or involve a significant contribution to technological or scientific innovation.
The application for residence can be articulated in 2 ways:
a) Consular visa. This is processed from the country of origin. Validity. 1 year renewable.
b) Residence and work permit. Processed from Spain. Validity. 3 years renewable initial duration.
1. Identification and advice on the investment. We analyse the needs and possibilities of our clients and the different types of investment permitted by law. Larrauri y Martí Abogados provides legal and/or tax advice and can put the client in contact with different investment service providers of recognised competence, but does not carry out commercial or intermediation work on the investments themselves. Therefore, the risks inherent to transactions in the financial or real estate markets are for the account of the client.
2. Tax analysis of the investment and residence in Spain. A change of residence or the acquisition of property or assets in Spain may have considerable tax implications. It is necessary to evaluate and analyse in advance the consequences of any investment and/or transnational movement in order to be able to foresee the possible tax impact of the same.
3. Legal services for obtaining a visa or residence permit for investors. This includes the preparation of all the necessary documentation and its presentation to the competent body. Our firm can carry out all the procedures on behalf of the client by means of a simple power of attorney.
4. Documentation. Our services include obtaining appointments, translation of documents, and personal accompaniment to the necessary documentation procedures at the police station (fingerprinting and issuance of foreigner's identity cards).
b) Residence and work permit. It is processed from Spain. Validity. Initial duration of 3 years, renewable.
