Golden Schengen Visa
Golden Schengen Visa. On 27th September 2013 Law 14/2013 was introduced to allow non-EU investors to qualify for Spanish Residency. The new law enables non-EU Nationals to obtain residency permits in return for investing in Spanish real estate, and other assets, which can lead to permanent residency in Spain if certain conditions are met.
General requirements for qualification are:
- Applicant is a non-EU National
- The investor must be 18 years or older
- The investor must not have a criminal record, whether in Spain or the country they have lived in for the last 5 years
- Have Public or Private health insurance taken out with a company operating in Spain
- Proof of sufficient funds to support the applicant and any members of their family during residence in Spain
In order to obtain a residency visa/permit investment in one of the following asset classes must be included:
- Purchase of Spanish real estate of at least €500,000 per applicant
- Deposit a minimum of €1,000,000 in Spanish bank accounts
- Invest a minimum of €1,000,000 in shares of a public trading, or non trading, Spanish company
- Invest a minimum of €2,000,000 in Spanish treasury Bonds
- A major business investment which fulfils one of the following conditions
- Job creation
- Significant socioeconomic impact in the geographical location of the business
- Technological or Scientific impact
A Residency Visa entitles an investor to reside in Spain for up to 12 months. If a longer period of time is required a Residency Permit can be applied for which allows an investor to reside in Spain for up to 2 years and can eventually lead to Permanent Residency.
Please contact Trustco Estates to discuss your personal circumstances and timescales.