Spain barely needs an introduction. Spain is known for having one of the oldest and richest cultures in the world .A miscellaneous of beauty. Old and modern. Sophisticated and popular, Holy and secular . The diversity and fascination of its cultures attracts. The historic heritage glares . The vibrant power of its people fascinates
The diversity of its cultures attracts millions of tourists are drawn to Spain every year given its favorable climate, beaches, cities, architecture and colorful festivities.
Cultural tourism is becoming an alternative to sun and beach tourism, as a result of the wealth and excellence of the museums, monuments, fiestas and traditions, not to mention the expositions and various cultural displays.
Spain boasts one of the greatest collections of historical and architectural monuments in the world, as demonstrated by the fact that it is the country with the second highest number of UNESCO World Heritage titles.
The standard of living in Spain is considered to be amongst the world’s highest in terms of quality.
Spain’s economy presents an attractive outlook for investors particularly in the areas of transport, tourism, energy and agriculture.
The Spanish Golden VisaForeign investors have a number of options that grant them entry and residence in Spain through a unique immigration opportunity, the Golden Visa Program which presents the option of citizenship by economic investment.
Late in the year 2013 , the Spanish Government approved its long anticipated investors visa that is kept to non EU foreign national who are investing by purchasing Real estate property , investment in government bonds or in shares in private companies or undertake a Spanish business project
The designated Golden Investors Visa program offer non EU applicants and theirs families the opportunity to attain the right to live in Spain and travel visa free travel within the 26 EU countries that signed the Schengen Convention.
The Investor Visa is valid for one year. The foreign investor can then apply for a residence permit which is valid for 2 years and renewable for 5-year periods (a change in the law introduced by Act 25/2015), provided the initial investment requirements that gave rise to the right continue to be met,. Under the new Act, investors need no longer travel to Spain and it is not required minimum stay in the country.
Once the five years have elapsed , since the moment the investor ( and family) got the Spanish Golden Visa , the investor is eligible to apply for a permanent residency if have resided in Spain for a minimum period of 183 days a year.
After the investor and family have been permanent residents for another five years , they will eligible to apply for the Spanish citizenship through a legal processed designated naturalization Once the naturalization is awarded the investor and family get the Spanish / European passport.
For more information, please visit the government website:
- Minimum stay in the country is not required;
- The visa may be renewed and extended in up to five year increments;
- After approval of the visa, the investor and his family are allowed entry and residence in the country;
- The visa allows for unlimited travel throughout the EU Schengen countries;
- As there is no law on minimum stay, it is not necessary for one to be a tax resident;
- The applicant must be 18 years or older. Spanish residency visa may be issued to children up to 18 years, economically dependent adult children and economically dependent adult parents;
- Minimum investment must be at least Euro 500, 000.
Investments may be spread over several properties but total purchase price must be Euro 500, 000;
- Investments may be done via a privately owned company as long as there is sufficient proof of majority stake;
- Not to have been refused entry in any of the Schengen countries;
- Have public and private health insurance recognized in Spain;
- Have sufficient economic means to cover personal and family living expenses.
- Foreigners entering Spain for the purpose of capital investment may apply for a resident visa for investors. For a capital investment to be considered as significant one of the following criteria must be fulfilled by the applicant;
- Acquisition of real estate with a minimum value of € 500,000. The relevant real estate assets shall be free of liens, at least up to the minimum value of € 500,000. Co-ownership of real estate also qualifies, provided that the individual investment made by the applicant of the Golden Visa amounts to € 500,000 (free and clear);
- Investment of € 2 million in Spanish government bonds; € 1 million in shares of Spanish companies; € 1 million euros in investment funds, closed-ended investment funds or private investment (venture capital/private equity) funds incorporated in Spain2; or deposit of € 1 million in a Spanish bank account;
- Undertaking in Spain of a business project that, subject to supporting documentation, is regarded as being of general interest (i.e. creation of jobs, relevant socioeconomic impact in the region, scientific and/or technologic innovation);
- 90 day visit visa to travel to Spain to search for property;
- Organize power of attorney to act on investor’s behalf;
- Buy property (More than Euro 500, 000 on the deeds);
- Apply one-year investor visa to allow free movement in the Schengen region;
YEAR 2 TO 5 OR MORE
- Application for authorization to live in Spain for two years renewable for a further five years so long as investment still holds at Euro 500, 000 or more;
- Applications will be responded to within 20 working days;
- Within this period additional property may be bought and existing property sold as long as the investment does not go below the recommended Euro 500, 000;
YEAR 5 ONWARDS
- Application of permanent residence in Spain;
- After 10 years Spanish citizenship may be applied;