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Residence by investment, often referred to as the "Golden Visa" program, is a legal mechanism that allows foreign nationals to obtain residence permits in Spain by investing in certain qualifying assets, such as real estate, business projects, or public debt. In Icod de los Vinos, a picturesque municipality located in Tenerife, Canary Islands, this program follows the national legal framework set by the Spanish government, while reflecting the unique local real estate market and regional nuances of the Canary Islands. By making a qualifying investment, individuals and their families can access a pathway to legal residency, and potentially, Spanish citizenship over time.
Securing residence by investment in Icod de los Vinos involves more than just financial transactions. The application process requires strict adherence to legal criteria, comprehensive due diligence, and accurate preparation of documentation. Many people require legal assistance for the following reasons:
Consulting with a local lawyer helps to prevent costly mistakes, avoid delays, and protect your interests throughout the entire process.
The primary legislation governing residence by investment in Icod de los Vinos is the Spanish Law 14/2013 on support for entrepreneurs and their internationalization, commonly known as the "Golden Visa Law." Some key legal aspects relevant to this process include:
The most common qualifying investment is at least 500,000 euros in real estate. Other qualifying investment options include one million euros in shares or bank deposits, or two million euros in Spanish government bonds.
Yes, the investor’s spouse or long-term partner, and children under 18 (or financially dependent adult children), as well as dependent elderly parents, may be included in the application.
Processing times can vary, but once a complete application is submitted, initial residence visa decisions are typically made within 20 working days by the Spanish authorities.
You are not required to live in Spain full-time. However, you must visit Spain at least once during the permit’s validity and keep your investment active to renew your status.
Any residential, commercial, or land property purchased for at least 500,000 euros qualifies, provided it is legally registered and free of liens for the qualifying amount.
No, simply owning property does not automatically grant residency. A formal application must be made, including proving the legal origin of funds and fulfilling all legal requirements.
Yes, you may switch to a Golden Visa if you meet the investment requirements, allowing for more flexibility and residency rights than many standard visas.
If you live in Spain more than 183 days per year, you may be considered a tax resident and subject to Spanish income and wealth taxes. Local laws and international tax treaties may also apply.
The initial residence permit is generally valid for one year. It can then be renewed for periods of two years, so long as the investment is maintained.
Yes, after legally residing in Spain for ten years (or less, depending on nationality), holders of the Golden Visa may become eligible to apply for Spanish citizenship, subject to meeting all conditions.
For more information and assistance regarding residence by investment in Icod de los Vinos, consider reaching out to these sources:
If you are considering residence by investment in Icod de los Vinos, it is wise to consult with an experienced local lawyer who specializes in Spanish immigration and property law. Here’s how to proceed:
With the proper legal guidance, residence by investment in Icod de los Vinos can be a smooth and rewarding process leading to new opportunities for you and your family.
