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Golden visa

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Quindi
  7/22/2018 19:56 EST

What is this? I am looking to stay in Spain 6 mo. Retired. I believe I need a visa for longer than 3 mo.? I am a US citizen.

Samuro
  7/27/2018 08:56 EST

Here is a short but informative article about visas, residence and citizenship in Spain https://tranio.com/spain/residence/
Hope it will help to clarify your question.

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sisepuede
  7/27/2018 09:59 EST

Quindi, the "golden visa" is an unofficial name for an investor-class visa created under Law 14/2013, as modified later by Law 25/2015. The unofficial English translation of this law, offered by the Spanish government, may be found here:

http://extranjeros.empleo.gob.es/es/UnidadGrandesEmpresas/documentos/2015/Ley_14-2013_consolidada_en_ingles.pdf

You need to be aware the law is not as cut-and-dried as it may appear. The Spanish consulates in the US do not fully recognize Law 25/2015. The same is true of many other countries throughout the world.

Two issues concerned us: The old law did not allow unmarried couples to apply under the same visa, and the 2015 modification allowed for that. The US consulates do apparently recognize unmarried couples, per the 2015 law.

However, the old law required one's investment in Spain (500k real estate; 2M government debt, or 1M bank accounts or investments) be made no more than 60 days prior to application to the visa. That is the term the US-based consulates abide by. By contrast, the 2015 law says the investment must be made within a year. This was translated to the unofficial English document as a year AFTER applying (i.e. you have up to a year to make your investment, presumably even after approval of the visa). However, the original Spanish version does not specify either before or after, and it is interpreted by the Spanish Foreign Ministry as BEFORE (even though the English translation says AFTER).

Obviously the requirement to make one's investment beforehand comes at a 5- or 6-figure cost, with no assurance that the visa application will be approved.

In my estimation, there is no use quibbling over this point. I have tried and failed.

We will be pursuing non-lucrative visas, basically demonstrating that we can support ourselves abroad without being a burden on the Spanish government or competing for Spanish jobs. That will give us the freedom to manage our finances however we see fit, probably with diversification of our investments outside of Spain. The down-side is that we will not have work permits. I will still be able to work remotely for my US clients, though (with the full knowledge and blessings of the Spanish government). I just won't be able to pay into the Spanish Social Security system and therefore qualify for "free" Spanish healthcare. However, it is possible to buy into Spanish healthcare after 1 year of living there, except without any prescription benefits.

Here are other links that may help you:

This is the official Spanish version of the modified law: https://boe.es/buscar/pdf/2013/BOE-A-2013-10074-consolidado.pdf

Here is the official original version of the law: http://www.boe.es/boe/dias/2013/09/28/pdfs/BOE-A-2013-10074.pdf

(The consulates in the US adhere to some mixture of the terms of both.)

Finally, here is the unofficial English version (posted by the Spanish government) of the original, unmodified law, which may not be an accurate translation: http://www.exteriores.gob.es/Embajadas/ABUDHABI/es/VisadosVisas/Documents/LEY%20DE%20EMPRENDEDORES%20ENG%20.pdf

Quindi
  7/30/2018 12:52 EST

Wow, thank you we will go the way of non lucrative visa as we will be retired. The flat we want to buy will be 145k, so I think we are good.

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