Ever since the institution of the Spanish Golden Visa (hereinafter referred to as “SGV”), which was introduced through the enactment of the Ley 14/2013 on the 27th of September 2013, numerous foreign investors have obtained a Spanish residence permit in exchange for their engagement in one of the investment options set forth therein.
Despite of the fact that the SGV may be granted on the basis of several investment alternatives, such as the deposition of a sum amounting to, or exceeding, EUR 1.000.000 in a Spanish financial entity or the investment of no less than EUR 2.000.000 in Spanish public debt instruments, the most frequently adopted course of action is the following: a real estate investment greater than, or equal to, EUR 500.000, excluding the inherent transactional costs (including, but not limited to, notarial emoluments and transfer fees).
The recourse to the last-mentioned pathway offers an unrivalled cost-benefit ratio in comparison with the array of investment possibilities contained in the statute referenced hereinbefore. Derivable Family Benefits: Notwithstanding the SGV’s apparently unipersonal utility, it transcends individual interests: consorts and any economically dependent offspring or parental figures, namely members pertaining to the beneficiary’s family unit as per Spanish law, will be able to derive benefits therefrom, e.g., the entitlement to reside alongside the recipient of the SGV in Spain for a period of, at first, one year. Besides, upon compliance with further investor-specific requirements outlined in the Ley 14/2013, the title holder would not only be eligible to solicit a renewable residence permit for himself, but also for all members appertaining to his family unit. Amongst other supplementary privileges related to the acquisition of the SGV, such as the prerogative of grantees to travel freely within the Schengen Area, being in possession of the SGV enables both the receiver thereof and his/her spouse to engage in employment activities in Spain, effectively serving as a work permit for couples.
Final Remark: In the light of this introductory commentary on the subject of the SGV, it should be noted that, regardless of the chosen approach to the procurement of the SGV, the initial investment is, in fact, significant. Nevertheless, the benefits associated with the obtainment and, importantly, retention of the SGV clearly outweigh the magnitude of the initial expenditure. At MARTÍNEZ CASTEJÓN ABOGADOS we take great pride in ensuring that our Partners will work shoulder-to-shoulder in order to provide solutions tailored to your particular circumstances and personal needs. Should you have any questions related hereto or be in need of legal advice, be assured that we remain entirely at your disposal.