The Residence and Work Permit for Investors and their family members, popularly known as a Golden Visa (and sometimes as "Golden Passport"), is for foreign persons from non-EU countries, over 18 years of age, who have made a significant investment in Spain provided that the investment meets a required minimum amount (as detailed here: Obtaining the Golden Visa in Spain).
The application for this work and residence permit can be made in two main ways.
Application for a residence visa for investors in Spain
Firstly, there is the consular route, intended for foreign persons not resident in the European Union who wish to obtain a Golden Visa in Spain.
In this case, the party concerned must apply for a residence visa for investors:
- The application must be submitted to the Spanish Consulate in the country of origin or residence of the investor concerned.
- The application must be submitted personally by the investor and/or their family members.
- The visa has a duration of one year, with the exception of the acquisition of real estate through a contract of whose visa is for six months.
Once the visa has been obtained, a foreign investor wishing to reside in Spain for a period of more than one year must apply for a residence permit for investors, which would entail the preparation of a new procedure.
This residence permit can be obtained electronically, without the need for the applicant to be physically in Spain.
For its part, the Administration must issue a decision within 20 business days. In the event that this permit is granted, it will have a validity of two years from the date of the decision from the Administration.
Application for a residence permit for investors (from Spain)
If the investor is legally in Spain, they have the possibility of applying directly for a residence permit for investors. In this case, the party concerned will obtain a two-year permit so that, if they wish, they can reside and work in Spain.
That is, this route allows the concerned party to avoid the consular phase of the process. For example, the party concerned may submit the application for this authorization while they are in Spain legally as a tourist, without having to carry out the procedure with the Consulate in their country of origin or residence.
In this case, applications must be submitted to the Large Companies and Strategic Collectives Unit, which will have 20 working days to issue a decision.
If the authorization is granted, the concerned party is granted a residence permit for investors, which allows them to work and is valid for two years from the date of the decision. Once the two years have elapsed, investors who are interested in residing in Spain for a longer period may request the renewal of the permit for successive periods of five years, provided that the conditions that generated this right are maintained.
Once the residence and work permit is obtained, the next step would be to obtain the Foreign Persons Identity Card (TIE).
GD Global Mobility can help you obtain a Golden Visa
GD Global Mobility has an expert team for applying for the Golden Visa.
Our services include the processing of visas and/or residence and work permits for investors and/or their family members.
If you are interested in obtaining the Golden Visa in Spain, we can help you. Contact us.