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Residence by Investment, often referred to as the Golden Visa program, allows non-European Union nationals to obtain legal residence in Spain, including Las Palmas de Gran Canaria, by making qualifying investments. This pathway is popular for international investors, business people, and retirees who wish to live, work, or benefit from free movement within the Schengen zone. The Canary Islands, with Las Palmas as a major hub, are an attractive destination due to their favorable climate, business environment, and lifestyle attractions.
Although Spain’s Golden Visa regulations are designed to encourage foreign investment, the process can be complex and requires a thorough understanding of national and regional legal frameworks. Common situations where legal help is essential include:
A qualified local lawyer can safeguard your interests, simplify the process, and help avoid costly mistakes.
Residence by Investment in Las Palmas de Gran Canaria is governed by Spanish national law, specifically the Law 14/2013 of 27 September, supporting entrepreneurs and their internationalization. Important aspects include:
Local legal advice ensures full compliance with both national and regional requirements for a successful application in Las Palmas de Gran Canaria.
Qualifying investments include real estate purchases (minimum 500,000 euros), shares in Spanish companies, deposits in Spanish banks, and investments in public debt or government bonds meeting established thresholds.
No, residency is not mandatory. To renew the permit, you must visit Spain at least once per year and maintain the investment, but continuous residence is not required.
Yes, you can include your spouse, domestic partner, dependent children, and dependent elderly relatives as part of your application.
The process generally includes making a qualifying investment, compiling required documentation, applying for the visa at a Spanish consulate or directly in Spain, and attending local police appointments for residence cards.
If all requirements are met, approval can be granted within 20 working days after submitting a complete application, making it one of the faster residence processes in Spain.
The property can be residential or commercial and is not restricted by location, provided it is in Spain and meets the value threshold. In Las Palmas, ensure local property laws and urban planning requirements are adhered to.
Spanish language is not a requirement for the Golden Visa, but legal paperwork and local procedures are typically conducted in Spanish, so professional assistance is helpful.
Property purchases in Las Palmas incur taxes such as Transfer Tax or Value Added Tax, Notary fees, and registry fees. Local taxes and possible regional surcharges may also apply. Legal counsel can provide estimates and tax planning advice.
Keeping your legal residence for 10 years may allow you to apply for Spanish citizenship by naturalization, subject to meeting language and integration requirements.
If the qualifying investment is no longer maintained, renewal of the residence permit will be denied and you may lose legal residence status in Spain.
For further information or official guidance, consider the following resources and organizations:
If you are considering Residence by Investment in Las Palmas de Gran Canaria, start by gathering information about your investment options and evaluating your eligibility. It is advisable to contact a lawyer experienced in immigration and real estate law in the Canary Islands. Prepare your personal and financial documentation, and schedule consultations with legal professionals who can guide you through the application process and represent your interests before local and national authorities. Early legal advice is the best way to ensure compliance and increase the chances of a successful application.
