Golden Visa in Madrid, authorization of residence for two years

Golden Visa in Madrid, authorization of residence for two years

Very recently there is a great opportunity citizens Russian (or any other nationality) to obtain the residence permit in Spain if they buy a property with a value equal to or exceeding 500,000 euros. And it is that now it is not compulsory to request it at the Consulate of Spain in Moscow or in Petersburgo, they can be in Madrid. In addition, may be obtained directly a valid green card for two years and then another valid for five years. In order to request the residence card, it will be necessary that the applicant is legally in Spain as a tourist within the legal period of stay allowing her visa (of tourist or multivisado).


The requirements that must be met are the following:


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  • Buy one or more property (housing, commercial property, land, etc) whose total value equal or exceeding 500,000 euros without mortgage, or having a reservoir of 1,000,000 euros at a bank in Spain, or buy shares of a Spanish society by 1,000,000 euros.
  • Prove financial means sufficient for the investor and his family.
  • Sign a health insurance in Spain.
  • Present a certificate of criminal records issued in your country.
  • Certificate of marriage, if it calls also for the spouse.
  • Certificate of birth of the children if they are under 18, or if they are older, if they depend on the father and are not married.



The authorization of residence shall be adopted within 20 days (or a month) and the person concerned must be the footprint in the police station in which is domiciled in Spain. After approximately the residence card will receive a month and a half for two years.


This type of residence permit does not require effective residence in Spain. You are required merely to visit Spain once the period of validity of the residence permit. This means that the person concerned can put for rent your property, if desired.


This card will allow you to work in Spain without the need for any additional permission. You can work (as an employee) employed or self-employed (freelance), with the only obligation to meet the same legal requirements to the Spaniards. With this card you can travel to any Schengen country.


After two years, the person concerned may obtain a new card that will be valid for five years. To do this it must provide proof that it continues meeting any of the requirements for obtaining the green card, i.e., which continues to be the owner of the property, or that he has kept one million euros in Bank throughout the period of validity of the residence permit or it is still owner of a Spanish company’s shares by EUR 1 million.


However, it is possible to change the reason that gave rise to the first residence, as long as it is one of those listed above (i.e., get the residence by having 1,000,000 euros in the Bank, and then renew it by purchasing a property for 500,000 euros for the duration of the residence permit (, without having to prove that continues to have one million euros). The rest of the requirements are to prove that continues having a medical in Spain, certified insurance banking in Spain and a new certificate of criminal record in your country (except that resides more than six months per year in Spain).


Golden Visa at the Consulate, residence visa for one year


Stakeholders who are in Russia can also request this type of residence permit in Russia. In this case they should ask the visa of residence of investors at the Consulate of Spain in Moscow or in Petersburgo. Documents and requirements are exactly the same as indicated above for the card of residence requested in Madrid. The Consulate will resolve in a term of 10 days work.


It will be given a residence visa valid for 365 days. With this visa may reside in Spain or at least one visit. During his stay in Spain and before the expiration of the visa of residence (or within 90 days of its expiry), the interested party shall request in Madrid the residence card, which is valid for two years, and then you can get another card of residence for five years. This residence visa also allows travel to any Schengen country.


Ordinary Residence Permit


Foreigners who buy a House for less than 500,000 euros can obtain this residence permit. In this case they must be justified to have one sufficient economic solvency to reside in Spain and will be subject to the obligation to reside on national territory a minimum of 6 months of the year and if they have children, they must justify that they studying in a school in Spain to be able to renew the residence permit.


It is also sometimes possible to get this type of residence permit if credited the rental of a dwelling in Spain, although the odds of getting it are lower than cases in which the purchase of a home is credited.


The request must be presented at the Consulate of Spain in Russia and the concession period is for a maximum of three months.