Residence for capital investors: visa and permit

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What do you need to know?

To obtain a visa (if you are outside Spain) or permit (if you are already legally in Spain) as a capital investor you must meet some minimum investment requirements. Both the visa and permit will allow you to live and work in Spain.

The visa as  a capital investor is also known as Golden visa, especially when the investment is made in real estate.

VERY IMPORTANT

The visa must be applied for in person if the foreign national who has made a significant investment is outside Spain. It is valid for one year and does not oblige the beneficiary to live in Spain.

If the investor wishes to retain residency for more than a year and can prove that he or she meets the requirements, he or she can request the residence permit for capital investors at any time prior to expiry of the visa.

The permit is requested by the investor himself or herself if he or she is in Spain legally and has a validity period of three years.

Once the term has expired, the permit may be renewed for periods of five years, as long as the conditions that gave rise to the right are maintained.

Who does it apply to?

Two cases must be distinguished:

  • It applies to non-EU individuals who make a significant capital investment in financial assets, the acquisition of real estate or a business project.
  • It also applies to foreign nationals who have a company when the investment is made by a legal person registered in a territory that is not considered a tax haven. In that case, the foreign national must, directly or indirectly, hold a majority of its voting rights and have the power to appoint or remove a majority of the members of its board of directors.

What is your status?

 If you are outside Spain, you must apply for a residence visa for capital investors or for the acquisition of real estate at the Spanish consulate in your country of residence.

If you are legally in Spain, you must apply for a residence permit for capital investors.

What requirements must I meet?

For both the visa and the permit, you must meet the general requirements for residing in Spanish territory and the specific requirements relating to the visa or residence permit for capital investors or for the acquisition of real estate.

The permit does not require holders to reside or stay in the country for a certain period of time, rather they may be the holder of the residence permit without necessarily living in Spain and only travelling at least once a year. 

General requirements

  • Not being in an irregular situation in Spanish territory.
  • Being over 18 years of age.
  • Having no criminal record in Spain and in the countries where you have resided during the last five years, for crimes provided for in the Spanish legal system.
  • Not being forbidden to enter Spain or being listed as liable to be refused entry in the territorial area of countries with which Spain has signed an agreement to that effect.
  • Having sufficient financial resources for yourself and your family members during your period of residence in Spain.
  • Having health insurance taken out with an insurance company authorised to operate in Spain.
  • Paying the fee for processing the permit.

Specific investment requirements

Making an investment that complies with the minimum amounts required:

  • Investment in financial assets, making an initial investment equal to or greater than one of the following values:
    • Two million euros in Spanish public debt securities.
    • One million euros in shares in Spanish limited liability companies with real business activity.
    • One million euros in investment funds, closed-end investment funds or venture capital funds established in Spain.
    • One million euros in bank deposits in Spanish financial institutions.
  • Acquisition of real estate in Spain with an investment equal to or greater than 500,000 euros (Golden visa).
  • Investment in a business project to be executed in Spain that is considered and proven to be of public interest, in which case compliance with at least one of the following conditions will be assessed:
    • Creation of jobs.
    • Making an investment with a relevant socio-economic impact in the geographical area in which the activity is to be carried on.
    • Relevant contribution to scientific or technological innovation.

How long is it valid for?

  • Visa: Valid for one year (except acquisition of property by means of an earnest money contract: 6 months).
  • Permit: Valid for three years. Once the term has expired, the permit may be renewed for periods of five years, as long as the conditions that created the right are maintained.

Can I bring my family with me?

Yes.

Your family members may accompany you on your trip and, at any time, they may jointly apply for a permit or visa or do so at a later stage. This condition applies to:

  • Spouse or unmarried partner

  • Children of the permit holder, or of their legal partner who are below legal age, or who are of legal age and depend on the holder or their partner financially and have not yet formed a family unit.

  • First-degree dependent relatives of the holder or their legal partner.

What do you need to do?

  • Visa: You can only complete the formality in person, going in person to the diplomatic missions and consular offices of Spain in your country of residence. Only exceptionally, and for justified reasons, may the consulate allow the application to be submitted by a duly accredited representative. 
  • Check with the relevant diplomatic mission or consular office about the specific procedure before starting the application.
  • Permit: The application for the permit must be made electronically, on the website of the Large Companies and Strategic Groups Unit (LCSG).

What steps must you take to obtain a visa?

STEP 1: Request the project appraisal report
  • If you are an investor in business projects or have made an investment through a legal entity, before applying for the residence visa for capital investors or for acquisition of property at the consulate of your country of residence, you must download, fill in and sign the application form for the project assessment report or report for investors with legal entities, respectively. (The form is only available in Spanish).
  • Once completed, you must submit the report to the Spanish Economic and Trade Office in your place of residence.
STEP 2: Fill in the application form and gather the required documentation
  • You must download, fill in and sign the national visa application form, specifying your reason for travel.
  • If you are travelling in the company of family members, you must download, fill in and sign the relevant national visa application form for each family member and apply for the visa jointly.
  • Forms are available in Spanish and sometimes the relevant consulate provides a version in the language of the country where the application is submitted. The application form is the same for all types of visa, except the Schengen visa application.
  • Before making the application, consult and prepare the documentation you will be required to provide.
STEP 3: Request an appointment
  • You must apply for the visa in person. Only exceptionally, and for justified reasons, may the consulate allow the application to be submitted by a duly accredited representative. 
  • Generally, in order to apply for the visa at the diplomatic mission or consular office of your country of residence, you must make an appointment.
STEP 4: Pay the fee associated with the visa application
  • In order to apply for a residence visa for investors and capital investors or for the acquisition of real estate, the established fee must be paid.
  • In certain cases, a reduction or exemption from the fee is provided for. However, there is no provision for a refund of the fee if the application is refused.
STEP 5: Go to the place indicated and hand over the documentation
STEP 6: Receive or collect your visa
  • Once the documentation, fee payment and requirements have been validated, your residence visa for investors and capital investors or for the acquisition of real estate will be issued in a period of ten working days according to the law. You may receive it at home or you may have to travel to pick it up in person at the diplomatic mission or consular office of your country.
  • If the visa has been refused, you will receive a notification to that effect.
  • Once you have picked up your visa, remember that you must enter Spain during the one-year term of your visa.

What steps must you take to obtain the permit?

STEP 1: Fill in the application form
  • You must download and fill in the permit aplication form MI-T. You must attach the document after the application.The official form is only available in Spanish. In order to help fill in the form, it has been translated into different languages for informational purposes only:
  • If you are travelling in the company of family members, you must also download, fill in and sign the relevant application form for relatives MI-F in order to apply for a permit jointly. The official form is only available in Spanish. In order to help fill in the form, it has been translated into different languages for informational purposes only:
  • Before the application period begins, consult and prepare the documentation that you will be asked for.
STEP 2: Pay the fee
  • You must pay the established fee before submitting the application.
  • To be able to pay the relevant fee (fee 038 relating to standard form 790), fill in the fields of the form (indicating the method of payment) and download it.
  • The form 790 for fee 038 allows payment to be made in cash (by depositing the fee at a bank in a Public Treasury account) or by direct debit from a current account (whose number you will have to provide).
  • To do so, you must identify yourself by means of the digital certificate FNMT-RCM, or through the Cl@ve PIN (PIN code) or Cl@ve Permanente (Permanent code) system.
STEP 3: Register the application, attach the documents and sign it
  • Once you have filled in the form and paid the fee, you must access the procedure "Submission of applications for residence permits for international mobility regulated by Law 14/2013", from the Large Companies and Strategic Groups Unit (UGE-CE). 
  • Select the "Alta de solicitud" option to start the process and register your application.
  • To do so, you must identify yourself by means of a digital certificate, or through the Cl@ve PIN (PIN code) or Cl@ve Permanente (Permanent code) system. You must allow the signature applet to run in order to continue with the application.
  • When the identification is validated, you access the page where you must select the type of application you want to make, in this case, the initial application.
  • At the top of the page you will find the personal data you must fill in (country, address, postcode and telephone number).
  • At the bottom, you will see the mandatory documents that must be attached.
  • The documentation necessary is detailed in the first section of the procedure ("1. Go to the website, fill in the form and gather the documentation > Documentation”).
  • In addition, the possibility of attaching any additional documents that you consider appropriate is offered.
  • When everything is correct, tick the consent box for the computer processing of the data and click on the "Sign" button.
  • Once the application has been made, you will be informed of its submission number and you will be able to download the file with the signed application and acknowledgement of receipt.
  • Remember that it is important to keep the number in order to be able to consult the status of the application in the future.
STEP 4: Receive notification of the decision
  • Within the established period, a decision will be made on your residence permit for investors and capital investors or for the acquisition of real estate.
  • You will be notified of the status of the application at the email address given at the time of submission of the application.

Who can apply?

Foreign nationals can submit their visa and permit application in person or by means of an accredited representative.

What documentation is needed?

VERY IMPORTANT

The documents must be translated into Spanish by a sworn translator and legalised. In the case of multilingual standard EU forms, neither translation nor authentication is required.

The form of legalisation will depend on whether the issuing country has signed the Hague Convention of 5 October 1961 or not:

If the country issuing the public document is a signatory, the document will be recognised if it bears the Hague Apostille stamp. The certificate will be processed in the country of origin.

If the country issuing the public document is not a signatory, then the legalisation process will be carried out through diplomatic channels.

Get more information about the legalisation and translation of documents.

General documentation

  • National permit or national visa application form as applicable.
  • Identity document or passport.
  • Public or private health insurance taken out with a company operating in Spain.
  • Criminal record certificate from the country or countries where you have lived for the last 2 years, for crimes under the Spanish legal system. Additionally, a responsible declaration of the absence of criminal records of the last five years will be presented.
  • Proof of sufficient financial means to support the applicant and their family during their period of residence in Spain (400% of the IPREM income indicator for the main applicant and 100% of IPREM for each family member accompanying them).

Specific documentation      

  • If it is an investment in financial assets in Spain: ​​
    • In public debt: minimum amount of 2 million euros (€). 
    • Acquisition of shares or holdings in Spanish capital companies: minimum amount of 1 million euros (€). 
    • In investment funds, closed-end investment funds or venture capital funds set up in Spain: minimum amount of 1 million euros (€). 
    • In bank deposits in Spanish financial institutions: minimum amount of 1 million euros (€). 
  • In the case of investment in property, this must be for a minimum amount of 500,000 euros (€). 
  • If it is an investment in a business project in Spain, there is no minimum amount for this type of investment, as its impact on the general interest is assessed according to three factors: 
    •  Creation of jobs. 
    • Socio-economic impact on the geographical area where it is to be developed. 
    • Relevant contribution to scientific or technological innovation.

In order to demonstrate the accreditation of the investment, the following specific documentation must be provided according to each particular case:

  • In public debt: certificate from a financial institution or the Bank of Spain. 
  • In unlisted shares: declaration of investment made in the foreign investments register of the Directorate-General for International Trade and Investment (DGCOMINVER). 
  • In listed shares: financial intermediary certificate registered with the National Securities Market Commission (CNMV) or the Bank of Spain. 
  • In investment funds: certificate from the management company. 
  • In bank deposits: certificate from the financial institution. 
  • In property: certificate from the land register and deed of sale. If the purchase of the property has not been formalised, the deposit contract formalised by public deed must be presented. The certificate of ownership and charges must be submitted.
  • In a business project: favourable report issued by the DGCOMINVER. 

How long does it take?

  • Visa: Once the documentation, fee payment and requirements have been validated, your residence visa for investors and capital investors or for the acquisition of real estate will be issued in a period of ten working days according to the law.
  • Permit: Within a period of 20 working days, a decision will be made on your residence permit for investors and capital investors or for the acquisition of real estate. You will be notified of the status of the application at the email address given at the time of submission of the application.

How much does it cost?

  • Visa: The fee is €60 (in general 60 euros, but may vary depending on the country of residence). If your application is refused, there is no refund of the fee.
  • Permit: The fee is €73.26.

Want to know more?

Body responsible for the formality

Further information

You can consult the Invest in Spain website (available in English and Spanish) and the information sheet on investing in Spain (non EU investors' citizens) available in different languages:

  • Investors' information sheet in Spanish
  • Investors' information sheet in English
  • Investors' information sheet in Russian
  • Investors' information sheet in Chinese
  • Investors' information sheet in Portuguese

IMPORTANT NOTICE

The procedures tend to change frequently. Therefore, only what is provided by the regulations in force at the time of carrying out the procedure in question is applicable.