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What is Golden Visa
Golden Visa system essentially offers long-term residencies (5 and 10 years) to people belonging to the following groups: investors, entrepreneurs, people with outstanding talent such as researchers, medical professionals, as well as those related to science and knowledge, and also exceptional students.
What does the Golden Visa offer?
Firstly, The main benefit of the visa will be security, as, through the issuance of the Golden Visa, the UAE government has made it clear that it aims to provide expatriates, investors and indeed anyone who wants to make the UAE your home an additional reason to feel safe. About his future.
How to Apply for a Golden Visa?
Who works for the ministry. Interested persons who wish to apply for a Golden Visa can do so through the Federal Office of Identification and Citizenship website – ICA (Electronic Channel of Residence and Citizenship) or the General Directorate of Residence and Immigration (GDRFA). While ICA only offers online channels, GDRFA offers online and offline channels.
The process is quite simple: applicants must submit the required documents and be ready to move to the UAE according to their business company.
Requirements for Golden Visa in Spain
To successfully apply for the Golden Visa in Spain 2022, the applicant must meet the following requirements:
You must be a resident of a country outside the European Union. And also, It would help if you did not forget that it is intended for investors from outside Europe.
- Being over 18 years.
- Have no criminal record.
- Have private health insurance in Spain.
- Demonstrate that you have sufficient financial means to live in Spain and support your family.
- Make an adequate investment, which will be of one or another amount depending on what it is. Here is a list of all possible assets:
- Invest in public debt equal to or greater than two million euros.
- Invest in bank deposits of Spanish companies or shares of Spanish companies worth more than one million euros.
- Purchase real estate in our country for more significant than 500,000 euros.
- Start a business in Spain that must meet the following requirements:
- To create jobs.
- With a significant impact on the country or region at the socioeconomic level.
- Represents a scientific or technical innovation.
Required Documentation For Golden Visa
One of the main requirements to obtain a residence permit for investment in real estate is confirmation using an appropriate document that the investment has been made.
Now the question is: what documents exactly justify this investment?
Suppose we wish to obtain a golden visa through real estate investment. In that case, we must provide proof of the property’s purchase, certification of domains and fees in the Property Registry, and a deed of sale for the acquired goods.
In the case of investment in Spanish shares or participations: investment declaration from the Investment Registry of the Ministry of Economic in participation; and a certificate from a financial intermediary registered with the National Securities Market Commission for the purchase of shares.
If we have invested in Spanish public debt, we will need a certificate from the Bank of Spain or from the financial entity with which we have managed the investment, in which we can see how we are the holders of this purchase.
Finally, to invest in bank deposits, you will need a certificate issued by the financial institution. You have carried out an operation that proves that you are the sole owner of said deposit.
Lawyers for Golden Visa in Spain
Therefore, if a Golden Visa holder does not want to change their country of residence, but wants to be able to move freely within the Schengen area for an extended period of time without relying on tourist visas, this is a great option.
On the other hand, if you intend to reside in Spain, the Golden Visa may also be of interest to you, since the holder of the old visa can apply for a residence permit for their immediate family – minor children and spouse – so that the process of integration in their new host country is reduced compared to the time it would take to organize the family reunification procedure in another way.
Since obtaining a Golden Visa involves investing large sums of money in a foreign country, some investors are reluctant to take advantage of this opportunity for fear of making a mistake that can lead to significant capital losses.
In this sense, it is highly recommended to seek advice from a law firm with in-depth knowledge of immigration and the regulations relating to the Golden Visa in Malaga or Lawyer in Marbella.
Profits of Golden Visa
Preferential treatment is one of the main advantages of golden visas. With these visas, a residence permit is obtained expeditiously, both for the first immediate issue for one year and renewal every two years”, explains the lawyer.
It allows you to work and live in Spain legally. We can define the golden residence as a means to obtain a work permit.
The only residence permit gives you initial permission to live and work in the country for 2 years (the others only give you 1 year).
The golden visa requires the applicant to travel to the country only once a year. To obtain this visa it is not necessary to be considered a resident of Spanish territory. Reminisce that this is equivalent to living in the countryside more than 183 days a year.
Gives total freedom of movement within the Schengen area; that is, most countries within the European Union.
The investor visa is a recommended option for those families who want to start living in Spain. You can quickly bring your family to the country. Although, the principal applicant (investor) can apply for a residence permit for his wife and children at the same time as his application.
Thus, To apply for a golden visa, the applicant does not have to do it really in Spain. And also, You can designate a representative to collect the relevant documentation for them.
Duration and Necessary Investment
The 10-year visa can be applied for by investors who have a government investment of at least AED 10 million in an investment fund or a company. Moreover, at least 60 per cent of the total investment must not be in the form of real estate, and the amount invested must not be borrowed or, in the case of assets, investors must take full ownership.
The investor must also be able to hold the investment for at least three years. This 10-years visa can be extended to include business partners, as long as each partner contributes AED 10 million. A long-stay pass may also have the holder’s spouse and children and a chief executive officer and advisor.
In addition to people in business, people with special abilities can also apply for a visa. Among them are doctors, researchers, scientists, investors and artists. These people may be granted 10-year access upon accreditation granted by their respective departments and areas, and the visa will also be extended to their spouses and children.
Who is Eligible to Apply for Golden Visa?
For the 5-year visa, the rules are pretty much the same for investors, with the only difference being that the required investment is set at AED 5 million.
Exceptional high school other university students are eligible for a 5-year residency visa in the UAE. Nationally ranked high school students (minimum 95 per cent) and students from specific universities with a GPA of 3.75 or higher upon graduation.
In addition to the above, foreign citizens who wish to establish their business in the UAE can also apply for permanent residence (5 years) under the Golden Business Visa scheme.
