26 December,2023 02:51 PM IST | MUMBAI | BrandMedia
Explore the Spanish Golden Visa program. Learn about residency by investment, benefits, and how to navigate the application process successfully.
The Spanish Golden Visa program allows non-EU citizens to gain Spanish residency, giving them the opportunity to live, work, study, and do business in Spain.
Those who hold a Spain Golden Visa can also access visa-free travel anywhere across the Schengen zone, and these rights can be extended to the applicant's family members, too.
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To be eligible, applicants must invest a significant amount of money into the Spanish economy, for example, by buying real estate in Spain, investing in Spanish companies, and investing in venture capital funds.
Buying real estate in Spain has long been the most popular way to acquire Spain's Golden Visa. However, the Spanish government has recently announced that it is re-evaluating the scheme due to European-wide concerns over security and sustainability.
So, with the future of Golden Visas in Spain looking uncertain, many potential investors are keen to take advantage of the country's residency-by-investment program before any changes come into place.
Looking for expert help? Getting help from professionals, such as the advisory team at the Global Residence Index is recommended. They can guide you through the investment options and the exact process. Click here to learn how they can help you.
To apply for the Golden Visa in Spain, you must first meet the following criteria:
The Spanish government has recently announced that they are considering either abolishing Golden Visas altogether or increasing the minimum of â¬500,000 investment to â¬1 million.
However, investors who already hold golden visas in the country will still be able to renew their residency permits, providing they still meet the criteria set when they first applied.
Nothing has been decided so far, and as it stands, the minimum investment options for the Spanish Golden Visa program are as follows:
The future of the Golden Visa in Spain looks uncertain, and the minimum investments listed above could soon change. So, consulting with investment migration experts like those at Global Residence Index is highly recommended.
They can help speed up the process and give you the best chance of securing a Spain Golden Visa before any rule changes come into place. They can also help you determine the most appropriate investment opportunity for you. They'll work with you every step of the way, facilitating the entire application process from start to finish.
Click here to talk to one of Global Residence Index's advisors.
Yes. Spain Golden Visa holders can apply for citizenship after they have lived in Spain for a minimum of 10 years. You must be able to prove that you have been present in the country for at least 183 days (around 6 months) for each of those ten years.
To gain Spanish citizenship, you must also be able to demonstrate that you have strong ties in the country, no criminal record, and a reasonable understanding of the Spanish language.
Once you have Spanish citizenship, you will become an official EU passport holder. This will grant you the right to live, work, and study in any of the 27 EU member states.
Most non-EU nationals must have residency in Spain for at least 10 years before they can apply for a Spanish passport. However, applicants from former Spanish colonies who hold a Golden Visa can apply for a fast track to citizenship program that takes just 2 years.
Eligible countries include:
Spain's Golden Visa program is incredibly popular with foreign investors. Spain is a vibrant nation steeped in rich history and culture, and claiming residency here comes with a wide variety of benefits for both the applicant and their family members. These benefits include:
Spain is a member of the European Union and the Schengen Zone. Golden Visa holders can visit fellow Schengen countries for up to three months in any six-month period.
Investors who eventually pursue citizenship in Spain will be granted a Spanish (EU) passport. This allows the bearer to live, work, study, and do business in all 27 EU member states.
Golden Visa holders and their family members will be granted access to Spain's world-leading public services, such as state healthcare and schooling, and a variety of internationally acclaimed universities.
While all Golden Visa holders have the right to live in Spain all year round, there is no requirement to do so. You can still renew your visa if you live in another part of the world.
After ten years, Spain Golden Visa holders may be eligible to apply for a Spanish passport. This gives you the right to live, work, study, and invest anywhere in the EU. Plus, it also grants visa-free access to over 170 different nations around the globe.
Many European Golden Visa applications can take a long time to process. For example, the Portugal Golden Visa currently has waiting times of around 12 months. However, the Spain Golden Visa program has an average processing time of just 20 days.
Yes. A Golden Visa holder's family members can also enjoy the benefits of residency in Spain. When applying for the Spain Golden Visa, you may include the following family members on your application.
Here's a brief overview of the process required to receive a Spain Golden Visa for you and your family.
Some passport holders may need to obtain a Spanish Schengen visa before arrival in the country.
An NIE number (Número de Identidad de Extranjero) is a unique identification number issued by the Spanish government. Every foreign resident must hold an NIE number to do business within the country.
You will also need to set up a bank account with a Spanish financial institution of your choice.
After securing a bank account and NIE number, it's time to finalize the qualifying investment. The investment needs to be completed and signed off before you can make your Spain Golden Visa application.
The application must be submitted to the Spanish consulate or embassy in your home country within 3 months of making the qualifying investment.
Global Residence Index and their consultants understand that the application process can be complex and overwhelming for many people. So, their Golden Visa experts are happy to complete and submit your entire application on your behalf.
Click here to arrange a consultation with an advisor for the Spanish golden visa program and eligible investments.
Most Golden Visa applications are processed quickly. If your application is approved, you can expect to receive your Golden Visa within around 20 days.
Once in possession of the Spain Golden Visa, you can travel to Spain, visit your nearest immigration office (Oficina de Extranjeros) and submit your biometric information. They will then provide you and any family members included in your application with a Spanish residence permit.
Document requirements can change at any time. However, at the time of writing, you are required to submit the following documentation alongside your Spain Golden Visa application form.
The Spain Golden Visa initially lasts for 1 year. During this time period, you must travel to Spain and exchange the visa for a Spanish residence permit. This permit is valid for 2 years.
As long as your investment (e.g., ownership of Spanish real estate) is maintained, you can renew your residence permit indefinitely every 2 years.
If you choose to live permanently in Spain, after 5 years of living in the country (for at least 6 months out of every 12), you can apply for permanent residency.
After 10 years of living in Spain, you may be eligible to apply for a Spanish passport, granting you EU citizenship.
Spain's Golden Visa program has been operating since 2013. Since then, it's generated more than 2 billion euros in revenue and offered freedom and security to thousands of non-EU nationals and their families.
However, the Spanish government has recently announced that it is considering making some significant changes to the Golden Visa requirements, and some of the existing opportunities may no longer be available to investors.
So, if you're interested in pursuing a Spain Golden Visa, it's essential to consult professionals such as the ones at Global Residence Index. They can ensure you qualify under the current conditions and help you fast-track your application so that you and your family can enjoy the many benefits of the Spanish Golden Visa program.
