Advantages of the Golden Visa residence or residence by investment
We summarize in five key points the advantages of obtaining the Golden Visa in Spain.
The Golden Visa is a residence permit that offers several advantages to those who wish to apply for it. Its processing time and ease of application are two of them.
1. Fast processing time
It can be processed from Spain with a recognized certificate from a professional. The approval body (UGE) is committed to a maximum of 20 days to process the application. After this time, if the application has not been processed, it will be considered approved by administrative silence.
2. Do I have to reside in Spain to renew my Golden Visa?
No. It is not necessary to reside in Spain to renew it: another advantage of obtaining the Golden Visa is that it is not necessary to live in Spain to renew it. Unlike community or temporary residence, it does not require the person to spend a minimum of six months in Spain. The only thing that can be required with this type of residence is to keep real estate or property worth half a million euros.
3. You can apply for your children and parents
You can apply for your adult children, as long as they have not created their own family nucleus, i.e. they are married. These children must also be financially dependent on their parents.
It can also be requested for the parents of the married couple, the parents-in-law. If they are financially dependent on them.
4. When do I have to renew my Golden Visa?
It is granted for two years and then renewed for five years.
5. How do I get the Golden Visa?
As Antonio Villena points out, the Golden Visa is obtained by purchasing a property for half a million euros. It can be a single property or several; it does not have to be a house, but land or premises. These properties must also be free of mortgages of at least 500,000 euros.
You can read more about the disadvantages of the Golden Visa in our next publication.
As always, if you have any questions our team will be happy to assist you.
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