Spain has long been a popular destination for expats looking to live the good life. The country’s culture, language, and traditions are well known and cherished worldwide.
Spain’s Golden Visa program allows non-EU citizens and their families to reside in the country. After five years of residence, it becomes possible to apply for permanent residency and eventually citizenship.
What is a Golden Visa?
The Spain golden visa is a residence permit for investors and their families who make a significant investment in the country. It allows them to enjoy a range of key benefits including visa-free travel within the Schengen area, access to high-quality healthcare and education, and the ability to apply for EU citizenship after ten years of residency.
There are a number of ways to qualify for the Spain golden visa, but the most popular is through a real estate investment. Other options include bank deposits, capital shares, or Spanish government debt securities.
The initial visa is valid for one year and can be renewed indefinitely provided that the minimum investment amount is maintained. It can also be transferred to family members, making it a very attractive option for those looking to gain permanent residency in the country. However, it is important to note that applicants must spend at least six months in the country every year in order to retain their residence permits.
Requirements for a Golden Visa
The Spain Golden Visa is a residency-by-investment programme that allows non-EU citizens to invest in the country and gain family residence. Investors can choose from a range of investment options including real estate, government bonds, shares in Spanish companies and deposit money in a bank. They don’t have to take language and cultural tests, and they can rent out their investment properties if they wish.
Spain launched its golden visa program in 2013 to encourage foreign investors and stimulate the economy. It offers permanent residency after five years and citizenship after ten. Citizenship can be renewed once every two years. The programme also gives its holders visa-free access to Schengen and other EU countries.
Requirements for a golden visa include health insurance that covers the investor and their family. The applicant must also have enough financial resources to support themselves and their families while living in Spain, as well as a clean criminal record. Applicants must also provide proof of their investments and personal documents.
Requirements for a Residence Permit
To get a residence permit, you need to prove that you have invested the minimum amount of EUR500,000 in real estate, or invested in a startup business that will create jobs, contribute to scientific research or technological innovation, or benefit the local economy. You must also have private health insurance and be able to prove that you have sufficient economic resources to cover your costs in Spain for the duration of your stay.
You must submit all the required documents, including proof of your investment, a certificate of tax registration, and deeds of any property bought in Spain. If you invest in a Spanish company, you will need a statement from the Registrar of Investments (stocks) or a certificate of the financial intermediary registered with the National Stock Market Commission (shares).
Family members of the Golden Visa holder can also obtain a residence permit. You can also apply for citizenship after five years of legal residency, but you will need to give up your original passport.
Requirements for a Permanent Residency Permit
The requirements for a residence permit vary from country to country. Spain’s Golden Visa is available to anyone who makes a real estate investment of at least €500,000; has bank deposits or shares in Spanish companies or in Spanish government bonds; or invests in a business project of general interest. The visa also grants a permanent residence permit to the main investor and their family members.
Applicants must submit a detailed business plan detailing their proposed entrepreneurial project. They must also provide documents that prove they have a stable financial position and are of good health. They must also provide a certificate from the Land Registry for any property they buy. In addition, all documents must be apostilled and translated into Spanish by a professional translator.
It is important to consult with an experienced immigration and investment specialist, like La Vida. They can advise you on the best investment options and assist with your application.