Spain’s Golden visa is deemed to be one of Europe’s most successful citizenship by investment programs. After all Spain’s beautiful beaches and mouth watering sceneries topped off with its diverse culture and magnificent architecture is often found to be a hotspot amongst investors. This golden ticket is what gives investors from non European union, European economic area or Switzerland a spanish residency permit and after that you can call Spain your home too!
So, what is this golden ticket really? It is called the Spain investment visa and officially known as the Spain golden visa or the Spanish residence permit program. In 2013, the spanish government established this to encourage more foreign investments from outside of the EU.
Under this provision, investors and their families who meet all requirements and invest at least €500,000 in real estate, government bonds, deposit or business are offered the visa.
The key takeaway apart from all the perks is that the government hasn’t imposed a minimum residency period. A card is initially granted for one year or two years if you visit Spain personally which can then be renewed every five years periodically. After actually living in Spain for five years, you can apply for a permanent visa and after a total of ten years of residing in Spain; citizenship is granted. After citizenship is offered, they can disband their golden visa as no more renewals would be required.
Any non EU,EEA and swiss members can make the required investments and be eligible along with their dependents.
SOME RULES TO OBTAINING THE VISA:
- The applicant must be over 18 years old.
- The applicant must not have any criminal records.
- The applicant must not be one of the nation’s undesirable people.
- The applicant must hold an official health certificate and valid medical insurance
- The applicant must not have previously been refused visas or entry into the Schengen zone.
- The applicant must have enough financial aid and funds to afford to live in spain.
- The applicant must make a qualifying investment and have proof of the investment made.
HOW TO BE ELIGIBLE THROUGH REAL ESTATE INVESTMENTS?
The investment should be worth €500,000 at least and it should have been bought 90 days prior to applying for the visa. A notarised deeds OR Property Registry Filing (certificate) and proof that the deeds have been submitted to the Property Registry is also required.
GOLDEN VISA SPAIN FOR FAMILY MEMBERS:
- The visa applies to the applicant’s children under 18 years, spouse and children above 18 years who aren’t able to provide for themselves because of their state or health.
- All document requirements will be the same for family members as that of the applicant’s.
- In addition: If your spouse applies, a marriage certificate. The certificate must be legalised by the spanish consulate in the country of its issuance and if the language is not in english or spanish it must be translated to either of the languages and the translation must be verified by the spanish consulate of the country where it was issued.
- Birth certificates of the children dependent on you are needed with the requirements being the same as the marriage certificate’s.
Main Golden Visa Spain benefits
- It is possible to acquire the visa within 60 days of the application’s submission.
- Travel visa-free: You can travel visa-free to 26 countries that are a part of the Schengen zone since Spain is an EU member.
- EU rights:As per the EU rights provisions, obtaining a Spanish residency visa would mean you can live, work and study in Spain.
- Family residency plans: As mentioned above, one of the many perks is that you can reside in Spain along with your dependents and spouse.
- Family security guarantee: Having a different country as your backup option is always relieving in times of political or economic instability.
- Easy renewal: The renewal of the permit is fairly easy and you have to travel only once a year to maintain the permit.
- Donation-free: It is an investment-only plan that requires no sort of donation whatsoever other than the mentioned ways on investment.