Imagine that you are not a citizen of the European Union, but you nonetheless want to make a significant investment in Spain by buying property, starting a business, or hiring locals.
In that case, you may be eligible for the Spain Investor Visa, more commonly known as the Golden Visa for Spain. The folks at Global Residence Index know their way around citizenship systems like few others.
The Golden Visa for Spain: When and Where to Apply
After making the necessary financial investment in Spain, you can start the application process. The investment must be a priority, but it can be finalized later. An application can be submitted at least three months before such a trip to Spain is scheduled to take place.
The application for a Golden Visa to Spain should be made at the Spanish embassy or consulate in your current country of residence. Or, if you are in Spain on a long-term visa, you can file your application there, too.
Spain Golden Visa: Who Qualifies?
If you meet the following requirements, you may apply for a Spain Golden Visa:
- You can show that you invested in one of the possible ways.
- You are at least 18 years of age or older.
- In Spain, you may get proper medical coverage.
- It is safe to assume that you and your family can live well off your current income.
- None of the places you’ve ever called home has a blemish on your record for criminal activity.
- You are not on Spain’s official list of criminals.
- All of your applications for Schengen visas have been approved.
You can get help from lawyers and other specialists who specialize in the Golden Visa procedure every step of the way if you meet the requirements and hope to relocate to Spain.
Experts in international real estate investing are available from companies like La Vida, who focus on Golden Visa programs and provide guidance and help.
Through a no-cost consultation, their specialists will let you know if you qualify for the Spanish Golden Visa, and they will even help you set up a trip to the country so you can check out your choices in person. Suppose you don’t feel confident in your knowledge of Spanish law and finances. In that case, you should hire a lawyer to help you settle your investment.
Requirements for a Spain Golden Visa Application:
To back up your application, you’ll need to supply the following materials:
- An application for a multiple-entry visa to Spain.
- Two identical photographs of the same person for use in a Spanish passport.
- Authentic passport. The document’s issuance date must be within the recent decade.
- Documentation of citizenship status.
- Investment documentation. The investment’s magnitude and purpose, as well as the origin of its funding, are all documented.
- Obtaining a Resident Visa to Buy a House: Land Registry certification attesting to the property’s jurisdiction and tax status.
- Investors in Capital Gaining Permanent Residency: Investment statements for unlisted or corporate shares must be submitted to the Registrar of Foreign Investments at the Ministry of Economy & Competitiveness.
- A financial intermediary needs to be registered with either the National Commission of the Stock Market or the Bank of Spain for investors to be able to purchase listed shares.
- Spanish government investment bonds or Bank of Spain financial institution certificates.
- The investment bonds that were issued by the Spanish government or certificates issued by the Bank of Spain to various financial institutions.
- In the case of a bank deposit, the bank will give a certificate to prove the investment.
- Authorization from the local law enforcement agency. Please submit the original, a copy, and a translated version of this document, and an application must be within 90 days.
- Documentation demonstrating that you and your dependents have access to adequate funds to cover living expenses in Spain.
- Insurance for medical needs is obtained from a licensed Spanish company.
- Medical proof showing you are disease-free.
- La Vida’s professionals have extensive expertise working with local banks, developers, agents, and lawyers and will help you secure all the necessary documentation for your visa application.
What Benefits Does the Spanish Golden Visa Offer?
The advantages of the Spanish Golden Visa include the following:
- Your entire family will be issued Spanish residence permits so you can all permanently settle in the country.
- You can stay in any Schengen country, including your host, for 90 days in 180 days without a visa.
- Your Golden Visa can be renewed without living in Spain.
- After ten years in Spain, you are eligible to petition for citizenship.
- You and your family can access Spain’s excellent medical care and educational opportunities.
- Please note that Spanish residents who plan to go abroad should investigate their insurance coverage choices.
How Long Can You Remain in Spain on a Spain Golden Visa?
Initially, the Golden Visa for Spain is only good for one year. The next step is to apply for an investor residence permit, which will allow you to extend your visa’s validity by an additional two years.
How Long Will Permanent Resident Status Allow You to Remain in Spain?
It is because of your financial commitment that you are granted a Spanish Residence Permit valid for two years. As long as you keep making the initial deposit, you can keep renewing it every two years in perpetuity.
After five years in Spain, a two-year Residence Permit can be submitted for a Permanent Residence Permit.
How Long Does a Residence Permit for the Spanish Golden Visa Last?
The Spain Golden Visa residence permits last two years. Maintain your investment for two years to extend it indefinitely; if you want to settle in Spain, you can apply for a Permanent Residence Permit after five years with a two-year Residence Permit.
How Long Do You Have to Remain Physically Present in Spain to Renew your Spanish Residence Permit?
There are no time limits on renewing a Golden Visa Residence Permit. The only time you’ll need to visit Spain to restore your visa is for the application process.
Permanent residency in Spain requires five years of residency.
Living in Spain continuously for at least ten years is a prerequisite for submitting an application for Spanish citizenship.
The Spanish government does not require you to pay income tax if you are not a permanent resident of the country. You must spend at least six months of the year there to legally call yourself a resident (more than 183 days). When it comes to citizenship by investment programs, the staff at Global Residence Index knows the ins and outs.