Our client came to the Firm to request the residence authorization of her newborn son as relative of investor.

The Law 14/2013 in its article 62.4 establishes that the relatives of the investors may also obtain the residence permit and the investor visa.

In our case, the child’s father had bought a property of more than € 500,000 to live in Spain, so we only needed to prove the family bond through the child’s birth certificate along with the documentation required for the application. As an example but not exhaustive, passport, medical insurance, financial means of the father etc.

What was our surprise that when we asked our client, the child’s mother, if she also wanted to apply for residency, she replied that “since we are not married, I can not obtain the residence permit as an investor’s relative”.

We informed our client that this belief was false because the Law states that “The spouse or person with an analogous affective relationship, children who are
minors or those of legal age who, being financially dependent on the holder, have not formed a family unit for themselves and the parents in their charge, who
accompany or join the foreign nationals listed in paragraph 1 of article 61, may apply, jointly and simultaneously or successively, for an authorization and, where
applicable, a visa. To do this, evidence must be provided of being in compliance with the requirements stipulated in the preceding paragraph 1”

Our client had an  analogous affective relationship since they love each other, lived, traveled and had a child.

Twenty days later and mediating a legal report on this case, our client obtained the residence and work authorization as an investor relative.

Our client, of Venezuelan nationality, acquired in 2016 a house at Costa Blanca as a holiday residence  of € 300,000.

A year later, through a Spanish company, she an his business partner bought 30 parking spots for a total value of € 300,000. Our client had 80% of the company’s shares and its partner the last 20%.

Our client came to the office asking us if she could obtain the residence authorization as an investor (Golden Visa) by adding her investment as an individual and her investment through a legal entity.

Indeed, if our client sums the amounts of € 300,000 and € 240,000, which corresponds to her shares of the company, it will exceed the minimum required investment of € 500,000.

In addition, we verified that it complied with the requirements established in the Law, inasmuch as her company was not established in a tax haven and she held the majority in the decision making of the company and could dismiss the company’s board of directors.

After obtaining the favorable report from DGCOINVER, we obtained the favorable resolution of the file of our client and her relatives.

A marriage came to the office indicating that they had made a real estate investment of more than € 500,000 in several homes in Spain.
They wanted to apply for residence authorization for them as investors and for their four children which two of them were from a previous marriage of the mother.

Since the investment was of €500,000, only one of them could be the holder of the investment and the other spouse would have to apply for residence authorization as an investor relative. Being two of the four children result of a previous marriage of the mother, we advised our clients, that   the mother was who requested the residence authorization as an investor so that her children of the previous marriage could also obtain the residence authorization for the family bond.

In the event that the husband had requested the authorization as investor, the children of his wife, since they were not his own children, could not have applied for the Golden Visa or this issue may have caused quite problems in the application as the Law 14/2013, does not content the term “extended family”.

The Golden Visa is a new type of residence and work authorization offered Entrepreneurial Support Act of 27 September 2013 (Ley 14/2013) to encourage investment in Spain by facilitating residence bureaucracy to investors.

The Law indicates five types of investments:

Investment in real estate ( 500,000 €) free of charge.

Financial investments in bank deposits with a minimum value of € 1,000,000

Investments in the sale of companies or shares for a minimum value of € 1,000,000

The purchase of Spanish public debt for a minimum value of 2,000,000 €

The investment in a business project of special interest. This type of authorization does not require a minimum amount of investment, only that the project supposes a socio-economic impact in the area where it is implanted, creates employment or that brings technological or scientific innovation.

Yes. The total  investment made in real estate will be valued.

Yes, provided that the company is not domiciled in a tax haven and that the investor has at least 67% of the company’s shareholdings.

Yes, as long as the amount of € 500,000 has been disbursed free of charge. The amount that exceeds of €500.000 may be capable of constituting charges.

The investor and his/her relatives. Family members are spouse or couples registered or not, children who are minors, or those of legal age and ascendants who are financially dependents on the investor.

Yes, the Golden Visa authorizes the investor to reside and work throughout the whole national territory.

This is very important for those investors who make the investment through a Spanish legal entity because they will need to be registered at the Social Security Fund.

No.

Yes, for 90 days every six months.

The visa will authorize you to live and work in Spain without having to obtain a residence permit.

However, from this first year, you can apply for residence and work authorization that will last for 2 years which may be renewed.

Yes. The Golden Visa can be renewed it for five more years. Once the first renewal has elapsed, you can apply for long-term residence in Spain.

Effective residence in Spain is not required to renew the residence permit.

The visa application will be filed at the General Consulate of Spain of your country of origin or residence.

If you had a legal stay in Spain at the time of the application, you may directly apply for the residence and work authorization before the Large Business and Strategic Groups Unit

Visa decisions made in 10 days and residence permit within 20 days (working days).

Yes, but it will not be automatic or dependent on the Golden Visa. This procedure will be regulated by the general inmmigration regulation that requires that in order to obtain a long-term residence the non-EU citizen has resided legally and effectively in Spain during 5 years.

The residence to be effective, the investor may not have lived outside Spain for more than 6 consecutive months or exceed a total of 10 months during the last five years.

So if the investor has not lived in Spain during 10 months in the last five years, he will not be able to apply for long-term residence, but he will be able to renew the Golden Visa again for another five years.

Yes, as long as you have effectively lived in Spain during 1, 2, or 10 years.