The Spanish government proposes a reform to law 14/2013 regulating the Golden Visa

In recent statements, the Spanish Government has suggested a modification to Law 14/2013, dated September 27, which supports entrepreneurs and their internationalization. This law regulates, among other permits, the residence and work authorization for investors and their families, known as the Golden Visa.

Changes to the conditions

The proposed reform aims to modify the current Golden Visa program by eliminating the possibility of obtaining a residence permit through the acquisition of real estate with a minimum value of 500,000 euros free of charges and liens.

Since its approval in 2013, this law has been a significant driver for foreign investments in Spain. Although no reform project has been presented to congress yet, the intention is not to eliminate the Golden Visa program. The permits already granted will remain valid. We will have to wait to know the new conditions for renewal and other specific provisions of the reformed law.

Other investment routes to obtain the Golden Visa in Spain

If the real estate route is eliminated, investors will still be able to opt for other forms of investment to benefit from the Golden Visa program, such as:

1) Investments in financial assets

• Deposit in a Spanish bank account (minimum of 1 million euros).
• Shares or equity stakes in Spanish capital companies with real business activity.
• Closed-end investment funds or venture capital funds established in Spain

2) Investments in Spanish public debt

• The minimum required investment is 2 million euros, with a minimum term of 5 years.

3) Investment in business projects

Projects considered of general interest that meet at least one of the following conditions:

• Job creation.
• Investment with significant socio-economic impact in the project’s geographical area.
• Significant contribution to scientific and/or technological innovation.

Do you want to obtain the Golden Visa in Spain?

At Expatfeliu, we are experts in the comprehensive management of the Golden Visa. Our specialized team will advise you and process your visa and/or residence and work permit for investors and their families. Contact us for more information!

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