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Spain, with its vibrant culture, exceptional quality of life, and a robust real estate market, has become an attractive destination for investors worldwide. One of the key drivers of this influx of investment is the Golden Visa Spain programme. This initiative, launched by the Spanish government in 2013, offers non-European citizens a simple route to Spanish residency, and potentially, citizenship in return for a significant investment in the country. This article provides an in-depth guide on the Spain Golden Visa, its requirements, benefits, and the process to secure one.
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What is Spain's Golden Visa?
The Golden Visa Spain, sometimes referred to as Spain Investor Visa, is a residency-by-investment programme that aims to attract foreign capital and talent into Spain. It offers non-European citizens the opportunity to obtain a residency permit, and eventually, citizenship, in return for making a substantial investment in the country.
The initiative enables investors and their families to live, work, and study in Spain, and travel freely within the Schengen Zone. This residency permit is initially valid for one year, which can be extended indefinitely every two years as long as the investment is maintained.
Who can apply for the Golden Visa Spain?
Eligibility for the Spain Golden Visa is determined by the fulfilment of certain conditions. These primarily revolve around making a significant investment in Spain and meeting other legal criteria. Here are the key requirements:
- You must be over 18 years of age.
- You must have a clean criminal record.
- You must not be in Spain illegally, or on Spain's list of undesirable people.
- You must possess a valid health insurance policy in Spain.
- You must demonstrate sufficient financial means to sustain yourself and any dependants.
- You must have proof of making one of the eligible investments.
Investment Options for the Golden Visa Spain
The Spain Golden Visa programme provides several avenues for investment. Here are the most common investment options along with the requisite amounts:
| Investment Type | Investment Amount |
|---|---|
| Real Estate Investment | €500,000 |
| Investment in Spanish Company Shares or Bank Deposits | €1,000,000 |
| Investment in Spanish Public Debt | €2,000,000 |
| Investment in Business Development | Subjective to Assessment |
Real Estate Investment
Investing in real estate is the most popular route to the Golden Visa. Investors are required to make a minimum investment of €500,000 in Spanish property. This could be in one or multiple properties, and they can be residential, commercial, or a mix of both.
Investment in Shares or Bank Deposits
Investors can choose to invest €1,000,000 in shares of Spanish companies or make a bank deposit of the same amount in a Spanish financial institution.
Investment in Public Debt
Another option is to invest €2,000,000 in the Spanish public debt. This can be an appealing choice for those looking for a secure form of investment with competitive returns.
Investment in Business Development
Investors can also choose to develop a business in Spain that creates employment opportunities, contributes to scientific or technological innovation, or makes a significant socio-economic impact. This path requires the presentation of a business plan to the government, and the investment is subject to subjective analysis by the Spanish authorities.
Spain Golden Visa Application Process
The application process for the Golden Visa Spain is relatively straightforward but may require professional assistance to navigate the intricacies of Spanish financial and legal regulations. Here are the basic steps involved in the process:
- Make an eligible investment: The first step is to choose and make an eligible investment. This could involve travelling to Spain to finalise property purchases or other investments.
- Apply for the Golden Visa: The application can be lodged at the nearest Spanish Embassy within three months of making the investment. Applications can be submitted by the investor or a legal representative.
- Submit the necessary documents: Along with the application, investors need to submit a range of documents, including a valid passport, proof of investment, proof of sufficient economic funds, medical insurance, and a medical certificate.
- Obtain the residence permit: Once the Golden Visa application is approved, investors need to travel to Spain to exchange it for a Residence Permit and provide their biometric information.
Key Benefits of the Spanish Golden Visa
The Golden Visa Spain offers numerous benefits to its bearers. Here are some of the key advantages:
- Residency: The Golden Visa allows investors and their families to live in Spain.
- Work Rights: Investors and their families can work in Spain.
- Education Access: Dependents of investors can access Spain's education system.
- Travel Privileges: Holders of the Golden Visa can travel visa-free within the Schengen Zone for up to 90 days within a 180-day period.
- No Minimum Stay: There is no minimum stay requirement to maintain and renew the Golden Visa.
- Path to Citizenship: After 10 years of legal residence, investors can apply for Spanish citizenship.
Renewal and Permanent Residence
The Spanish Golden Visa is initially valid for one year. After the first year, investors can apply for a two-year residence permit, which can be renewed indefinitely as long as the investment is maintained. After five years of continuous and legal residence, investors can apply for permanent residency.
FAQs about the Golden Visa Spain
Does Spain allow dual citizenship?
Spain allows dual citizenship for immigrants from Portugal, Andorra, the Philippines, Equatorial Guinea, and Latin American countries with specific agreements. However, immigrants from other nations are required to renounce their previous nationality when acquiring Spanish citizenship.
How long does the Golden Visa application process take?
The Golden Visa Spain application process can take between 6 to 9 months, depending on individual circumstances.
Can family members be included in the Golden Visa application?
Yes, the Golden Visa Spain allows for family reunification. Spouses, minor children, and dependent elderly parents can be included in the main applicant's application.
What is the difference between the permanent residence permit and Spanish citizenship?
There is a difference between the permanent residence permit and Spanish citizenship. While the permit allows you to live in Spain indefinitely, only Spanish citizenship gives access to a Spanish passport.
About Star la Cala - Mijas property Experts
In conclusion, the Spanish Golden Visa offers an attractive opportunity for investors interested in residing in Spain and potentially obtaining Spanish citizenship. With its specific benefits and requirements, professional assistance is essential throughout the process.
Star La Cala, as the Mijas Golden Visa Property Expert, offers a team of qualified and experienced specialists ready to assist and guide investors every step of the way. From selecting the right investment to supporting you in obtaining a visa and complying with legal requirements, we are committed to providing a smooth and successful experience.
Contact us today and let us help you take advantage of the opportunities offered by the Spanish Golden Visa.
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