Business Immigration to Spain: How to Get a Golden Visa in 2022

A favorable location, a stable political and economic situation, free transit of goods across the EU, and access to Central and South America are all the advantages for business in Spain. The Spanish government has signed a double taxation agreement with many countries around the world, and has many tax benefits. Today we will talk about business immigration to Spain in 2022.

The golden visa - what is it

Non-residents who want to do business in Spain can take the Golden Visa. This is the residence permit that is issued to a non-EU citizen if he or she is going to make a significant investment in the economy.

Advantages of the Golden Visa:

• Ability to move around all Schengen countries;
• Permission to live and work legally in Spain;
• You can bring your spouse, children, and parents. Family members also get the opportunity to live in Spain, as well as a visa-free access to EU countries;
• Access of investor and family members to public services and the opportunity to attend school;
• Spanish citizenship received in 10 years if certain requirements are met.

Who can get a Golden Visa

In most cases, the Golden Visa for immigration to Spain is issued to people who buy real estate here. It is also available to businesspeople who invest in the local economy, so it is often called the Spanish Investor Visa.

To obtain the visa, a businessperson must make one of the following investments:

• Buy a property worth €500 thousand or more. It does not have to be one apartment or house, you can take several properties;
• Buy shares in a local company;
• Make a deposit in a local bank, starting at €1 million;
• Invest in a new business that will give jobs, contribute to digital or scientific innovation, etc.

The applicant must meet the following requirements:

• Be of legal age;
• Have no criminal record;
• Not having been denied a Schengen visa in the past;
• Pay for health insurance in Spain.

How to apply

To obtain a Golden Visa, a businessperson can apply at the nearest Spanish consulate or embassy. At the time of application, one must be willing to invest in one of the above areas, but the transaction does not necessarily have to be completed.

On the one hand, you can apply outside the country. On the other hand, one must visit it in advance to review investment options, open an account, and make agreements.

Family members (children, spouse, and elderly parents) must apply for a visa on their own as dependents. They are required to provide documents that prove a family connection (birth certificate, marriage certificate, etc.). When the application is approved, they will receive a residence permit and the ability to travel within the EU.

Validity Period of Golden Visa

The validity period of the Golden Visa is 1 year. During this time, you must settle in Spain and exchange it for a residence permit, which will be valid for 2 years. Then it can be extended indefinitely, provided that the foreigner continues to invest in the country.

If the businessperson will live in Spain, it is possible to apply for permanent residency after 5 years of living in the country (at least 6 months per year).  If the entrepreneur is not going to live here, he/she has to come every time there is a need to renew the residence permit.

An investor who has lived in the country for 10 years (at least 6 months per year) can obtain Spanish citizenship. It will also be necessary to demonstrate knowledge of the language, as well as close economic ties with the country.

Documents for filing an application

To get a Golden Visa, you must submit the following documents:

• Application form and a headshot;
• Passport and its certified copy;
• Papers proving legal income, which should be sufficient to cover the living expenses of the investor and his family in Spain;
• Criminal record certificate taken within 3 months prior to application;
• Medical insurance from a company that operates in Spain;
• Visa fee payment receipt.
• Documents that relate to investments (where it is planned to invest money - certificate of ownership of real estate, shares of purchased company, bank deposits, etc.)

Paperwork should be translated into Spanish, certified by a notary, apostille.