The Golden Visa is one of the most attractive pathways for foreign investors who wish to reside in Spain. This visa provides a quick and efficient way to gain residency in the country, provided certain investment requirements are met. One of the most compelling options for obtaining the Golden Visa is through the creation of a business project. In this article, we will explore how you can obtain the Golden Visa in Spain through a business project and the benefits it entails.
What is the Golden Visa?
The Golden Visa is a type of residence permit in Spain aimed at non-EU citizens who make a significant investment in the country. This investment can take various forms, such as purchasing real estate, acquiring public debt, or making a bank deposit. However, one of the most beneficial and dynamic options is creating a business project that generates employment, has a significant socio-economic impact, or contributes to scientific and technological innovation.
Requirements to Obtain the Golden Visa Through a Business Project
To obtain the Golden Visa through a business project, you must meet specific requirements, including:
1. Minimum Investment: While there is no fixed minimum amount, the project must demonstrate significant and viable economic potential.
2. Business Plan: A detailed business plan outlining the project, its objectives, expected economic impact, and job creation must be submitted.
3. Economic Impact: The project should positively impact the Spanish economy, such as creating new jobs, revitalizing disadvantaged areas, or contributing to strategic sectors.
4. Innovation: Projects that promote scientific and technological innovation are highly valued. This includes tech startups, research and development projects, among others.
5. Financial Solvency: The investor must prove they have the necessary financial resources to carry out the project without economic difficulties.
Process to Obtain the Golden Visa
The process to obtain the Golden Visa through a business project involves several steps:
1. Project Evaluation: The first step is to develop and present a solid business plan. This plan will be evaluated by the Large Companies and Strategic Groups Unit (UGE-CE), which will determine if the project meets the established requirements.
2. Visa Application: Once the project is approved, the next step is to submit the Golden Visa application. This can be done at the Spanish Embassy in the investor’s home country or directly in Spain.
3. Documentation: Along with the application, necessary documentation must be provided, including the passport, approved business plan, proof of financial solvency, and a criminal record certificate, among others.
4. Resolution: After the application is submitted, Spanish authorities will review the documentation and make a decision. The process may take a few months, and if approved, an initial residence permit for two years is granted, renewable for five-year periods.
Benefits of the Golden Visa
Obtaining the Golden Visa in Spain through a business project offers numerous benefits:
1. Residence for the Family: The Golden Visa allows the investor and their immediate family (spouse and minor children) to obtain residency permits.
2. Access to the European Market: With Spanish residency, it is possible to travel and conduct business in most European Union countries without additional visas.
3. Tax Benefits: Spain offers various tax incentives for foreign investors, especially those who significantly contribute to the national economy.
4. High Quality of Life: Spain is known for its high quality of life, excellent climate, and top-tier public services, such as healthcare and education.
Conclusion
The Golden Visa is an exceptional option for foreign entrepreneurs looking to establish themselves in Spain and contribute to the country’s economic growth. By creating a business project that meets the required criteria, it is possible not only to obtain residency but also to take advantage of all the opportunities Spain has to offer. If you are considering this option, it is advisable to seek the guidance of an expert immigration lawyer to navigate the process and ensure the success of your application.
At Expat & Legal Spain, we are here to help you make your dream of living and thriving in Spain a reality. Contact us today for an initial consultation with no obligation.