Spain Residency by Investment
Spain Residency by Investment Program (Golden Visa Program) enables foreign investors to obtain Spain residence permit provided that they meet certain criteria set out by Spanish government since September, 2013.
Investment Options
Spain RBI requires investors to make an economic contribution to Spain. Within this context, applicants have following investment options:
- Investment of at least €500,000 EUR into the real estate projects on the condition to hold the property until having the permanent resident. (Visa holders may obtain permanent residency after 5 years)
- Investment of €2 million EUR in Spanish bonds on condition to keep the investment for a minimum period of 5 years
- Investment €1 million EUR in shares of Spanish companies on condition to keep the investment for a minimum period of 5 years
- Deposit of €1 million EUR in Spanish bank account on condition to keep the investment for a minimum period of 5 years
There are also some general requirements to be met for all investment types. Funds for investment should come from abroad and the applicants shall submit a bank statement that demonstrates their sufficient economic conditions for family living expenses.
Apart from the abovementioned requirements, the main applicant must be over 18 years of age and his/her family members shall have a clean personal background, shall be in good health and of character.
How long does the process take?
Application process for initial visa takes 10 days and residence permit process takes 60 days from submission of the application to issuance of the Spain residence card.
What are the advantages of this Program?
Key advantages of this residency program are;
- Visa free travel to 190 countries such as Hong Kong, USA, United Kingdom, Latin American and of course EU Countries,
- Opportunity for living and working in Spain, even with residency in a different country,
- Visa holders may obtain permanent residency after 5 years and citizenship after 10 years.
Soner Alemdar is a leading international law firm advising on global citizenship. Please contact us for further details on acquiring Spain Residency Permit and Spanish Citizenship.
FREQUENTLY ASKED QUESTIONS (“FAQ”) IN RELATION TO SPAIN & SPAIN RESIDENCY PROGRAMME
Why choose Spain?
Spain is definitely one of the most beautiful countries in the world thanks to its magnificent climate, unending history, delicious kitchen and last but not least its colorful culture with its colorful society. With its optimal tax rates, Spain is chosen by lots of investors every year.
Do I have to travel to Spain during Residence Permit procedures?
Applicants have to travel to Spain to collect their biometric data.
Is Spain a tax haven for investors who consider choosing Spain Golden Visa Program?
Spain implements taxation to global income of its citizens. However, investors should note that Spain provides some advantageous tax incentives and business opportunities in order to draw foreign investments into country. Therefore, though it requires some meticulous calculations, it is possible to decrease Spanish taxation to favorable levels.
Do you offer properties for Spain RBI?
Yes. We would be happy to provide you to our specialist property advisors who would assist you to find high quality properties either commercial or residential, from a wide range of options which is convenient for Spain Golden Visa applications and also complies with your personal priorities.
How many family members can apply for residency along with the Main Applicant?
All family members (Spouse and dependent children) as well as the main applicant can be extended Spain Residency investment application .
Is there any language requirement to apply for Spain Residency?
No, applicants do not have to take any language test.
What is Siesta?
Siesta is an interesting tradition of Spain; there is a long break of two to five hours. During siesta hours, most businesses are closed. Spaniards enjoy to have a nice break in the half of the day.
Are there good universities and schools in Spain?
Education is free and mandatory in Spain for between 6 to 16 ages-children. Literacy rate is over %95 of the population. There are also lots of attractive and ancient universities like Complutense University of Madrid, the University of Barcelona, the University of Granada, the University of Sevilla, the University of Salamanca, the University of Valencia.
Which are the main sectors in the Spanish economy?
Spain has a very large automotive industry. In addition, energy, tourism, science and technology and agriculture are the other important sectors in Spain.
Is there any official legislative text regulating Spain Golden Visa Program?
Yes. Spain “Golden Visa” Law, namely Law 14/2013 of Support for Entrepreneurs and Their Internationalization is the fundamental legal text with regards to Spain Residency by Investment program, which presents several options for investors in order for them to become residents of this Iberian country.
Please contact with us now to have further information on Spain Residency by Investment program and to get a fee quotation for your application.