Legality
Spain is a member of the European Union (1986) and NATO (1982), it’s a country with rich history, unique culture, and traditions. Spaniards live life to the fullest and the country outperforms the average in work-life balance, health, social connections, and safety according to the OECD’s Better Life Index and ranks 3rd in the ex-pat living category in 2021. Despite the global financial crises and severe recession back in 2008, Spain’s recovery was stunning.
Spanish Golden visa is a pathway to citizenship and attracts non-EU/EEA/Swiss citizens and their family members to obtain permanent residence permits in Spain, the country attracts millions of visitors every year and remains a highly desirable location both for travel and investors. It is considered to be one of the most important economies in the world (4th largest economy in Europe). They launched the Spanish Golden Visa / Residence by Investment program back in 2013, as part of the government's efforts to recover.
Investment Options
All non-EU citizens who conduct an investment activity may apply for golden visa, someone of the opted options is following
REAL ESTATE
1
Investment starts with a minimum value of EUR 500,000.
BANK DEPOSIT
2
Deposit a minimum value of EUR 1,000,000 in a Spanish Bank
GOVERNMENT BOND
3
Invest in a Government Bond with a minimum value of EUR 2,000,000.
COMPANY SHARES
4
Invest with a minimum value of EUR 1,000,000.
INVESTMENT FUND
5
Invest with a minimum value of EUR 1,000,000.
Eligibility
To qualify for residency by investment, the main applicant must meet the following criteria.
-
Be of outstanding character.
-
18 years or above of age
-
Hold no criminal record.
-
Have excellent health.
-
Have a high personal net worth.
Eligible Dependent
-
Spouse (same-sex partner) is qualified.
-
Unmarried children, financially dependent on the main applicant.
-
Parents, financially dependent on the main applicant.
Timeline
INITIAL CONSULTATION
ONBOARDING
Our Investment Migration Advisors will have detailed discussions with you to understand your need, the budget and goals, they will discuss pros and cons of the proposed residence permit.
Our Investment Migration Advisors will confirm if the program suits your investments and is aligned with your goals (i.e., Global Mobility, Kids Education, Access to Healthcare Tax Planning, Asset Protection, Plan B etc.) and share detailed action plan that is carefully designed as per your individual situation. This includes complete costing (i.e., investment required, consultation fees, government fees, due diligence cost “if applicable”, tax representation, application/processing fees for issuance or the renewal of your residence cards etc.).
INITIAL DUE DILIGENCE
We collect basic documents and perform initial Due Diligence check to eliminate the risk of failure. In case if we find any risk involved that causes application rejection, we offer a suitable alternative or decline to proceed further with your consent.
COLLECTION OF DOCUMENTS
You sign the retainer, and our Investment Migration Advisors will assist you on selecting the property or other approved investment option (unlike the Caribbean, Turkish Citizenship by Investment and European Residency / Golden Visa programs require you to make investments prior to submission of the application), obtaining the document(s) required as per concerned authority, dedicated staff will be assigned throughout the application process that will assist you on services (i.e., obtaining tax number, opening bank account, purchasing of the property, legalizing/notarizing the documents and filling up the application form etc.)
APPLICATION SUBMISSION
Complete application including purchase deed of the property (or the confirmation from the bank or other concern authorities for funds transfer such as in case of Capital transfer), application forms and legalized documents are submitted with the concern Government agency responsible for migration.
GOVERNMENT DECISSION
Upon clarence of the Due Diligence, the Government approves the application, and you are advised to proceed with required biometrics.
ISSUANCE OF RESIDENT PERMIT/GOLDEN VISA
Once the Government approves the application (the residence cards are issued in case of Residency by Investments.
Our services are not limited until you receive the required Citizenship and Passport, our after sales team remain in touch with you until your initial investment is returned depending on the investment route (i.e., Government approved real estate option, investment in Government approved bond etc.). We help you renew your residence permit & second passport(s), assist you further in case of a lost passport or passport replacements in case if all pages have been used, and much more.
About Country
Spain, officially known as the Kingdom of Spain, is a captivating country located in southwestern Europe on the Iberian Peninsula. With its vibrant culture, stunning landscapes, and rich history, Spain offers a diverse and enchanting experience for visitors. Spain has a rich and complex history, influenced by various civilizations, including the Romans, Moors, and Christians. This diverse heritage is evident in the country's architecture, with iconic landmarks such as the Alhambra Palace in Granada, the Sagrada Familia in Barcelona, and the medieval city walls of Toledo.
Spain has a diverse and robust economy that plays a significant role in both Europe and the global market. It is the fourth largest economy in the Eurozone and the 13th largest worldwide. Spain's economic strength lies in various sectors, contributing to its overall growth and stability.Spain has been actively investing in research and development, innovation, and technology sectors. It has a thriving startup ecosystem, particularly in cities like Barcelona and Madrid, attracting entrepreneurs and venture capital from around the world.
Visa Free List
The list of countries can vary due to government policies, and access to these countries may be restricted or subject to changes.
FREQUENTLY ASKED QUESTIONS
WILL I BE REQUIRED TO TRAVEL TO SPAIN DURING THE PROCESS?
Yes, the applicant must visit Spain for selection of property, opening bank account, and biometrics.
WHAT IS THE MINIMUM CONTRIBUTION/INVESTMENT REQUIRED FOR THE RESIDENCE PERMIT?
There is not option of contribution while obtaining the Residency in Spain, the lowest possible investment in real estate starts with EUR 500,000 plus other related fees.
WHAT ARE THE CONTRIBUTION/INVESTMENT OPTIONS?
Presently, there are five qualifying investments: REAL ESTATE Investment starts with a minimum value of EUR 500,000. BANK DEPOSIT with a minimum value of EUR 1,000,000. GOVERNMENT BOND with a minimum value of EUR 2,000,000. COMPANY SHARES with a minimum value of EUR 1,000,000. INVESTMENT FUND with a minimum value of EUR 1,000,000.
HOW LONG DOES IT TAKES TO OBTAIN RESIDENCE PERMIT IN SPAIN?
Under the Residence by Investment program, individuals and their family members can become residents within 2 months (in general it takes less than a month).
WHAT IS THE VALIDITY OF SPAIN GOLDEN VISA / RESIDENCE PERMIT?
Golden visa / Residence permit that is valid for three years, renewable for 5 years each time. Permit holders can live in the country as much as they wanted and are allowed to travel to Schengen area for 90 days in 180 days.
WHAT ARE THE ELIGIBILITY CRITERIA?
Principle applicant must be over 18 years of age or more must, be of outstanding, principal applicant can also include spouse (same sex partner) is qualified, unmarried children and parents financially dependent on to the principal applicant can be included.
CAN THIS SPAIN RESIDENCE PERMIT BE CONVERTED TO CITIZENSHIP?
Yes, the investor may apply for Citizenship after their 10th year of residence in Spain. However, there are some exceptions that will allow investors to qualify for citizenship after completing 2 year of residence, to know more please contact one of our experts.
DO I NEED TO PAY TAX?
No, if you are not residing and not generating income in Spain. However. If you chose to reside in Spain you will be required to pay tax on your income generated within the country (for instance rental income in case you rent out your property.
WHAT ARE NON EU OR EEA AREA?
Individuals that are not from EU “European Union”, EEA “European Economic Area” was established via the international agreement which enables the extension of the European Union's single market to member states of the European Free Trade Association (all 27 European Union countries and Iceland, Liechtenstein, and Norway are considered to be EEA).
Blogs
1401, Anantara Business Center - Business Bay - Dubai