Currently, more and more Peruvians are interested in knowing the requirements to apply for the Golden Visa in Spain, according to the experience of Golden Partners. If Peru has long been considered a tourist destination, today its nationals seek to reside in other countries (i.e., Argentina, the United States or Spain) that offer them new investment opportunities, residence and in some circumstances, a second nationality.
This is the case of Spain, which is one of the countries from the European Union with best quality of life for citizens of all ages, given its legislation on work-family conciliation, good weather and food, as well as easy access to highly prestigious international schools and universities. Just for you to know a recent example, the Government has just approved a youth cultural bonus (from Spanish, Bono Cultural Joven 2024) that allows those under 30 years old to travel at high speed around the country at prices with very affordable rates.
Therefore, thanks to the Golden Visa, also known as Golden card visa (or “visa dorada” in Spanish), Spain has become an ideal destination also for non-EU investors such as those from Peru. We hereby explain to you how this residence permit is regulated, what are all the requirements to obtain the Golden Visa in Spain and in what terms, as well as the benefits that both you and your family could benefit from.
What is the Golden Visa in Spain
The Golden Visa in Spain is a residence permit aimed at those foreigners from Peru or any other foreign country who wish to enter Spain in exchange for making a significant capital investment.
One of the great advantages is that the investor is not obliged to remain in Spain for a period of time to renew said residence. He or She onaly has to maintain the investment as a main requirement to enjoy the golden card visa.
Requirements to obtain the Golden Visa in Spain
The citizen from Peru interested in obtaining the residence must make a capital investment in Spain and meet one of the following requirements to obtain the Golden Visa in Spain:
1. Investment for a value equal to or greater than EUR 500,000 for Real estate properties
Investors can make a minimum net investment in Spain of EUR 500,000 in properties such as apartments, premises or land, which are intended for both personal residence and rental as well as for generating profitability by other means.
In the case of Peru, in the last year alone, imports from Peru to Spain have increased by 66.5% according to the latest data on foreign trade in goods from Spain, so the Andean country’s investments in Spain are at historical records.
2. Investment for a value equal to or greater than EUR 1,000,000 for commercial activities
In this case, the Peruvian acquirer must allocate at least one million euros to shares linked to real commercial activities or to participations in Spanish capital companies.
3. Investment for a value equal to or greater than EUR 1,000,000 for investment funds
Furthermore, the non-EU investor, as in the case of the Peruvian citizen, can obtain a residence permit in Spain by investing at least one million euros in investment funds, venture capital funds or closed investment funds.
4. Investment for a value equal to or greater than EUR 1,000,000 for bank deposits
You could also invest the amount of equal value or greater than one million Euros in bank deposits in financial institutions located in Spanish territory.
5. Investment for a value equal to or greater than EUR 2,000,000 for public debt securities
Finally, Spanish Golden Visa investors are able to invest at least EUR 2 million in Spanish public debt securities such as Treasury Bills and the well-known and profitable Spanish State Bonds and Obligations which are giving a return of up to 3.702%.
How long does it take to obtain the Golden Visa
The period to obtain the Golden Visa in Spain is usually around 2 months, according to the cases experienced at Golden Partners to date.
Once the investment funds are available in a Spanish bank account, the residence visa application can be completed in 10 to 15 days.
Furthermore, the residence permit is usually obtained within 60 days after submitting an application for a Golden Visa for Spain. Agility in deadlines that facilitates the move to Spain for both the interested investor and their closest relatives.
Benefits of the Golden Visa in Spain for a citizen of Peru
Once all the requirements to obtain the Golden Visa in Spain have been met, please know hereinafter all of its benefits:¡ both for you and your family:
- Legal right to work and reside in Spain: for an initial period of two years, without requiring permanence in Spanish territory to obtain it.
- Freedom of movement through the countries of the Schengen area: the Golden Visa offers the possibility of traveling through up to 29 European countries. In addition, it is not necessary to comply with long periods of stay or to establish yourself as a tax resident in Spain, just continue meeting the requirement initial investment.
- Extension to spouse and children under 18 years of age: this residence permit can also be requested by the applicant’s spouse and children under 18 years of age. Also, children over 18 years of age can be credited with financial dependence, which is very interesting for those foreigners who want their children to pursue, for example, university studies in Spain.
- Application for Spanish nationality: if you are a citizen of an Ibero-American nation, such as Peru, you can apply for Spanish nationality after obtaining the Residence Authorization and residing in Spanish territory for a minimum of two years.
- Access to tax benefits for impatriates: to all of the above, it is added that if the foreigner had resided outside of Spain during the previous 10 years, he, his spouse, and minor or adult children with disabilities could opt to pay tax on a tax rate lower than the marginal one in your Income Tax, that is; access the famous impatriate regime (learn more about the well-known Beckham Law here).
As specialists in Spanish Real Estate and immigration, we offer you the necessary legal advice to make the best decision for you and your family, avoiding risks whenever you decide to move from Peru and complying with both Spanish and European legislation.
At Golden Partners, we know how to take care of your assets. We remain at your entire disposal in our contact form. Do not hesitate to write to us in English, French or Spanish.
