• March 2, 2024

Spain Golden Visa: What Is It?

Spain joined the EU in 1985 and became a member of the Schengen Area in 1995. The nation is a desirable place to relocate because of its growing economy and excellent standards of life. Spain is becoming a very attractive investment destination for families and corporations.

Read More: Golden Visa Spain

The Spain Golden Visa Program is an excellent choice, particularly for non-EU citizens who wish to pursue their professional or personal aspirations in Europe. It permits living, working, and studying in Spain. It could also result in citizenship in the end and permanent residency.

You can apply for Spanish permanent residency after five years of temporary stay. If you meet specific requirements, you can seek for citizenship through the naturalization procedure after ten years of permanent residency.

Qualifications for the Golden Visa for Spain

The Golden Visa Program for Spain offers a number of investment choices. You have the option of investing €1 million in Spanish company shares, €2 million in Spanish government bonds, or €500,000 in real estate.

In addition to meeting the financial requirements, you must be at least eighteen years old, have no criminal records, and have either private or public health insurance.

Specific requirements:

You are not under eighteen.

You don’t live in Spain illegally.

You haven’t had any criminal activity in the last five years.

You are not listed among those who should be avoided.

Throughout your visit, private healthcare is covered.

You can demonstrate that you have enough money to survive in Spain without working.

You have not been denied residency in Spain or in some other nations.

A 2005 rule states that none of the ailments are present in you.

Spain’s Investment Opportunities Golden Visa

Investing in Real Estate

You will need to make a sizable investment in Spanish real estate if you choose this path. The initiative has a fixed sum of €500,000. A home property, a business property, or a combination of the two are your options. It’s possible to rent out the concerned property. Any amount beyond the minimal investment may be mortgaged out. Different purchasers may also pool their investments into a single property.

Spain’s Business Development

More specifically, this path to residence in Spain through investment seeks to support the Spanish economy. If you select this course of action, 1) you have to create jobs The investment must: 2) affect the nation’s socioeconomic situation; and 3) advance scientific and technology advancements. This option requires a minimum investment of €1 million.

Transfer of Capital

To take advantage of the Golden Visa program for Spain, you can also choose to invest a sizeable sum in Spanish Treasury Bonds. The financial stability of these bonds makes this choice quite well-liked by the candidates. The government backs Treasure Bonds. It is an investment option that is quite safe and offers competitive returns. This option requires a minimum investment of €1 million. If not, you can put at least €1 million into bank accounts with Spanish financial institutions or shares in Spanish businesses.

How to Apply for a Golden Visa to Spain

The Spanish Golden Visa application process is not too complicated. Here is a brief summary of the necessary actions.

Step 1: Select your preferred investment option first. The investment possibilities are listed above in the section titled “Spanish Golden Visa Investment Options.” Our group of Golden Visa specialists can also assist you in evaluating your investment alternatives.

Step 2: After deciding, you get ready and send in your Schengen Visa application.

Step 3: At this point, you travel to Spain in order to give the authorities the biometric information they need. The completion of this step of the procedure typically takes two months.

stage 4: Waiting for the outcome of the authority evaluations is the last stage in the application procedure. Typically, the approval or rejection procedure takes 20 days.

Step 5: Obtain your Spain Golden Visa and begin taking advantage of its advantages.

Documents Needed in Spain for a Golden Visa

A resident visa application requires the following papers in addition to the application form in order to be processed:

1. A current passport good for a minimum of a year

2. A statement attesting to the availability of enough money to pay living expenses throughout the period

3. Verification of your health insurance coverage document

4. A document from the appropriate authorities attesting to your children’s attendance at school (if applicable)

These documents all need to be legalized and translated into Spanish.

Obtaining the NIE Number and Opening a Bank Account

The Foreigner’s Identification Number is also known as NIE, or Número de Identificación de Extranjero. A tax identification number is the Spanish NIE number. It is employed in a variety of real estate and tax-related industries in Spain. When making formal purchases, paying taxes, and engaging in other lawful or official business, it is utilized. Every financial transaction involving the Spanish tax agency uses it. For every foreigner who has financial, professional, or social affairs in Spain, they must get an NIE number. Although it is not necessary to have permanent residency, it is nonetheless preferable to obtain an NIE number as soon as feasible.

submitting the Golden Visa application to Spain

Generally speaking, the authorities have 20 days from the date of submission to complete the application. The application is automatically approved if the authorities do not reject it within that time frame.

Getting a Golden Visa in Spain might take up to ten months in some cases.

Investment-Based Citizenship of Spain

Spain The Golden Visa scheme grants investors residence in Spain in exchange for a financial contribution. There isn’t a straight path to citizenship. On the other hand, after ten years, you can be qualified for citizenship if you obtain your Golden Visa and choose to reside in Spain.

To become a citizen of the nation, you must, however, fulfill a number of requirements, including giving up your previous citizenship. For this reason, it will be beneficial to consult experts and attorneys before committing.