Spain Golden Visa is one of the residency by investment programs that certain European countries offer. It first provides you with the right to residency in Spain. After years of residency, it may provide you with citizenship as well.
It can be a good opportunity for non-EU citizens because it’s a program aimed at these groups of individuals. Via Golden Visa Spain, they can get the right to live, work, and study in a European country.
Your spouse and dependent children can be included in the program. In addition, you can enjoy a visa-free right to visit Schengen countries.
The details of this program are provided below.
Who Can Apply For Golden Visa in Spain?
Because it’s a residency by investment program, you need to provide the required investment amount. Apart from this, you must be over the age of 18, and you must hold a clean criminal record in the last five years.
Also, you cannot be an illegal resident in Spain. In addition, you must not have been banned from residence in any country.
You must have private healthcare as well, during your stay in Spain. You also need to prove that you can live in Spain without needing to work here.
What Are The Investment Options of Golden Visa For Spain?
There are three different options you can choose to apply for Spain Golden Visa. These are:
- Real Estate Investment
- Business Development, and
- Capital Transfer.
Details about each option are as follows.
Real Estate Investment
So, buying a property in Spain can be one of your options when applying for Golden Visa to Spain. The minimum amount of investment is €500,000. Accepted types of properties include residential and commercial properties. The property in question can be a combination of both of these as well.
Business Development in Spain
The business development option is designed for the development of the Spanish economy. The minimum required investment amount is €1 million.
It’s possible that you establish a new company or invest in a business project in Spain. There are certain rules, though. For example, you need to create employment in Spain through your investment. Also, it must have a beneficial impact on the country’s socio-economic status. Lastly, your company needs to contribute to innovations in science or technology.
Another investment route to get Golden Visa in Spain is capital transfer. You can invest in Spanish Treasury Bonds under this option. You need to invest a minimum amount of €1 million under this option. Investors find this option safe because the government supports it. You can get great returns from your investment as well. You can also choose to invest the same amount in shares in Spanish companies.
Application Process For Spain Golden Visa
You’re provided with general information about Spain Golden Visa. Now is the time to know the application steps.
- The first thing to do is to choose your investment option
- Then, you’ll form and submit your application for Schengen Visa
- You’ll now have to visit Spain to provide them with your biometric data. It usually takes about two months to complete this process
- Finally, you’ll wait for the approval. Usually, it takes about 20 days for the authorities to approve or reject your application.
Note that sometimes it may take up to 10 months to get a Golden Visa for Spain.
Renewal of Your Spain Golden Visa
Initially, your Golden Visa is valid for one year. Then, you can extend it for up to five years. At the end of five years, you can apply for a permanent visa.
Route to Citizenship
Spain citizenship by investment is not a direct way to get Spanish citizenship. After five years of temporary residency, you need to apply for permanent residency. Then, when you complete 10 years of permanent residency, you can apply for citizenship. This is possible via naturalization if you meet the criteria for citizenship.
In short, Spain Golden Visa is a straightforward way to get residency in Europe, if you’re a citizen of a non-EU country. If you don’t aim for citizenship, you don’t have to stay in Spain to keep your residence right.