The Golden VISA is the best way to attract foreign investment
Globalization is a process that has benefited most of the first world countries in the world during the last decades and has been driven mainly by the great advantages that foreign investment brings.
Businessmen and companies know the great number of opportunities that foreign investment can bring them, and the countries know they are benefited by the entrance of foreign money, which makes their economy grow.
Investments from foreign markets are not new to the global economy, enriching and energizing in the process different areas of the economy that would otherwise be static and not profitable.
One of the areas of the economy that has benefited the most from this phenomenon of globalism and economic integration has been the real estate market. Since every day more people need to acquire real estate either for housing or for commercial use, therefore, the Golden VISA is a fundamental document for those who wish to enter to the world of real estate investment.
What is Golden VISA?
You may ask yourself what is a golden visa. In a nutshell, a Golden VISA is a benefit that exists in order to allow the entry in Spanish territory of people who fall within one of the following categoriesred:
- Highly qualified professionals
- Workers who make intra-company movements within the same company
In this case, the most relevant categories are those contained in the first two categories, being the most likely beneficiaries of the residence permit product of real estate investment in the country.
Golden VISA Requirements:
In accordance with Spanish and regional legislation, applicants must have:
- Invested at least 500.000 € in Spanish real estate.
- Be in the legal age.
- Lack of criminal record in the last 5 years for crimes that may be punishable in Spain.
- Have not been rejected in the territorial space of countries with which Spain has signed an agreement on this matter.
- the investor and his family members must have public or private insurance.
- Demonstrate the ability to self-sustain economically while in Spanish territory.
- Pay the visa processing fee.
The documentation required to carry out the Golden VISA process for real estate investment contemplates, in its majority, the documents that prove that this investment was made.
In the first instance, it is necessary to have made the investment within a maximum period of 60 days after having applied for the Visa. In order to note that the investment was made, the following documents must be submitted:
- Financial intermediary duly registered to which the interested party has made the investment
- In the case of bank deposit: certification of the financial institution that the interested party is the sole owner of the investment
In addition, the Spanish government may require other documents that vary depending on the type of property, method of payment, etc.
Golden VISA Benefits
The possibility of residing throughout the Spanish national territory for at least one year, extendable by request to the corresponding office, in addition to the ability to request the benefit for family members. Tax lawyer Golden Mile, professional Marbella Solicitors.