Spain’s Golden Visa through Investment is a pathway to citizenship

The famous EU country “Spain” offers a “Golden Visa” through investment is considered a door to passport.

A golden visa is often referred to as an investment. Having a good amount of capital can certainly lead you to gain citizenship in many of the famous and developed countries of the world. The same is true for Spain as it also offers a “Golden Visa” through investment. Spain enacted the Entrepreneurs Law on September 27, 2013, which introduces, for the first time, residence visas and permits for investors who are not members of the European Union. This new law allows non-EU investors to obtain the much-desired Golden Visa. In short, it allows them to obtain qualified residence permits in exchange for investing in Spanish real estate, leading to permanent residence in Spain if certain conditions are met. 

 Spanish investor visas can be renewed every two years. It is possible to get permanent residence after five years and citizenship after ten years.

The Golden Visa for Spain is a resident visa issued to a non-EU citizen who wants to make investments in the Spanish economy. There are many ways through which the golden visa can be obtained such as by investing in real estate, business, government bonds, or a bank deposit. The main applicant (investor) and their families who meet the requirements can obtain a Spanish residence permit.

Investment options in Spain

The golden visa can be obtained by investing in property, by issuing a bank deposit, by purchasing government bonds, and by investing in form of shares in Spanish business. Any non-EU, non-EEA, or non-Swiss citizen who makes a qualified financial investment in Spain is eligible for a Golden Visa and Residence in Spain. Requirements are mentioned below:

• Invest in real estate Spanish worth €500,000. The real estate can be in different units, you have to meet the overall investment in real estate, not less than €500,000.
• Buy shares in a company or deposit at least € 1,000,000 in a Spanish bank.
• Invest in a new business that offers employment opportunities, contributes to scientific and/or technological innovation, and has an economic impact on the area where the business will be started.
• Invest at least €2,000,000 in Spanish public debt.

The situation of the Iberian Peninsula, in the extreme southeast and only 14 kilometers from the African continent, gives Spain great strategic value: projecting itself to the Mediterranean on one side and acting as an intersection on the way to Africa and America on the other. The fact that a large part of Spain is peninsular also explains the extent of its coastline, which goes from the Atlantic Ocean to the Mediterranean Sea.

Spain has a great strategic position and is situated very close to important European capitals such as London or Paris. Spain belongs to the most important international organizations. In 1955 Spain became a member of the United Nations, in 1982 it joined NATO, and in 1986 it joined the European Union.

Salient features of Spain’s Golden Visa

• Getting a Spanish residency permit means you can live, work, and study in Spain.
• The temporary residence permit can be easily renewed and you have to travel to Spain once a year to maintain the permit. 
• When you obtain a golden visa, you can travel visa-free to 26 countries as part of the Schengen zone.
• It is possible to obtain a Spanish residence permit within 60 days of submitting the Golden Visa application
• You do not have to live in Spain to renew your residence permit, but you can if you wish to be there, you can work and live legally in Spain and can take your family members (spouse, children, and parents) with you.
• Your spouse and children under the age of 18 are guaranteed a residence permit. Other family members can also get housing, provided paperwork is submitted, indicating that they are your legal dependents.
• You and your family will have access to government services (social benefits) such as state health care and schooling.

Although it is not necessary to stay in Spain to obtain and renew a residency visa, an investor or family member on the way to citizenship must have been in Spain for at least 6 months each year for about ten years. Furthermore, they also have to travel to Spain twice a year, with no more than -6 months between each visit.

After living in Spain for five years, investors can apply for permanent residence. On the other hand, citizenship in Spain can be obtained after ten years. However, applicants for eligibility must stay in Spain for at least six months during this period. Spanish passport allows visa-free travel to 187 countries and allows the person to study, work, and live in any EU member state. 

Basic steps to obtain the “Golden Visa”

The following steps will help you a lot to manage your thoughts regarding the Spanish golden visa:

• Come to Spain with a tourist visa. We can provide you with a letter from the Spanish Embassy
• Request the Spanish DNI at the Spanish consulate in your country or in Spain
• Choose a property from our stock
• Open a bank account in Spain
• We can have a power of attorney to finalize the purchase
• Buy the property
• No more than 60 days after purchase, submit the type D investor visa application to your local consulate (Golden Visa)
• In Spain, when you have your Golden Visa, you can apply for an investor residence permit.

Basic requirements for the Golden Visa of Spain

There are many requirements one has to meet in order to apply for the visa, but the major are as follows:

• Evidence of financial strength to bear expenses in Spain.
• Evidence of the respective financial investment
• Evidence of health insurance
• Your age is not less than 18 years and in past, you must not have had a Schengen visa refusal
• Evidence of your neat and clean character history

Spain is considered one of the most important economies in Europe, with almost perfect business and housing infrastructure. Like other southern European countries, Spain has suffered an economic crisis, which has reduced the price of homes by between 30% and 50%. A perfect place to invest and gain momentum when the economy starts again (the first signs of improvement are already visible).

Documents required to apply for the visa

• Spain Visa Application Form
• Two passport size photos.
• Evidence of visa fee payment
• Health insurance evidence in your country and with an insurance company performing in Spain
• Character certificate from police not over 3 months when applying  
• Financial proof that you can afford to support yourself and your family in Spain
• Make sure the passport is valid for the initial period you want to spend in Spain and has at least two blank pages.
• You will also need a photocopy of your passport’s personal information page.
• You have to submit a proven translation in case of filling documents other than Spain.
• If you are not a citizen of the country where you live: Your residence permit.
• Any additional documentation related to your specific case (investment or immovable purchase of property).

Documents required for investment in Real Estate

If you choose the Real Estate option for Spanish residency you must provide evidence of property ownership in the shape of a certificate issued by the Land Registry within 90 days prior to the application. The minimum amount of €500,000 must be included in the certificate If the purchase of the property has not yet been entered in the Land Registry, you can easily provide proof that the documents have been entered to be submitted along with the proof of payment. If the real estate purchase has not been finalized, you can submit an initial agreement, including a down payment, and a letter from a Spanish financial institution proving the availability of the required funds.

Documents required for Investor Visa

(a) Investing in shares at a price

A certificate of financial intermediation describing your investment, registered with the Spanish National Stock Market Commission or the Bank of Spain.

(b)Investing in a bank deposit

A certificate from a financial institution that designates you as the sole owner of a bank deposit.

(c) Investment in Spanish Government Debt

A certificate from the Bank of Spain or any other financial institution stating that you are the sole owner of the investment for a period of at least five years.

(d) Investing in stocks or shares in a Spanish company

An investment statement from the Spanish Registrar of the Ministry of Economy and Competition.

How to apply?

This is the way how the application process works:

• You can submit the application yourself or through an authorized representative, such as a lawyer.
• If you invested in one of the given options, you can submit a visa application at the nearest Spanish embassy or consulate. At the time of application, you must have a commitment to invest, but the investment does not have to be finalized.
• You do not have to be in Spain to apply for a visa, although you may have to travel there before applying for a visa to manage your investment. After receiving the visa, you have to go to Spain to get a residence permit.
• Your family members will have to apply for their dependent Spanish visa. They must include documents proving family ties, such as birth and marriage certificates.

Note: If you borrow money, you cannot apply for a Golden Visa for Spain. You should make the initial investment in full, although you should own the funds and be the sole owner of the investment.

However, if you buy a property worth more than €500,000, you can use loans and financing to repay more than € 500,000. Even if you make a joint investment or purchase, each individual investment has to meet the minimum requirements. Thus, if you decide to buy a property, each person involved has to pay € 500,000 to be eligible for a Golden Visa. It is not possible to divide the investment into small amounts, as you will not be eligible for Golden Visa accommodation.

Visa validity

You have to go to Spain every time you need to renew your residence permit. The Golden Visa you receive at the embassy will be valid for one year. During this year, you must enter Spain and exchange your visa for a Spanish residence permit, valid for two years. Until then, the residence permit can be renewed indefinitely, without any conditions of stay, as long as you maintain your investment.