In 2013, Spain introduced its golden visa scheme. A family can move in with a €500,000 real estate investment. Every two years, the Spanish investor visa is renewable. Permanent residency is available after five years, while citizenship is achievable after 10. To retain and renew the resident visa permit, you do not have to reside in Spain.
Spanish Golden Visa Benefits
The ease with which a residence permit is granted and the relatively inexpensive renewal fees are without a doubt the key advantages of Spain’s Golden Visa. Naturally, Spain is compared to Portugal, its neighbour, and the unquestionable success of the golden visa programme there. Also, there is a much greater option of real estate that may be purchased in Spain with no constraints other than the minimum investment amount, even though the real estate investment amount is now almost twice as much as the Portuguese programme at €500,000.
Key Benefits:
- speed of issuing a residency permit
- Low government fees
- Low renewal fees
- Complete free choice of real estate options
- Visa-free travel throughout the EU Schengen zone
Permanent Residency and Citizenship in Spain
After residing in Spain for five years, one may seek permanent residency there. After ten years of full-time residence, citizenship applications may be submitted. The process for both permanent residency and citizenship requires the investor and their family to live in Spain, even though the temporary residency permit (the “golden visa”) can be readily renewed without doing so. Due to this, the Spanish Golden Visa programme is well liked by applicants who either want to live in Spain permanently or only have a second residence there without pursuing citizenship.
How to get a Spanish Golden Visa
Following an investment of €500,000 in Spanish real estate, the process for obtaining a Spanish golden visa is relatively straightforward and quick. Applicants, who will need to be non-EU residents, are required to have:
- A clean criminal record
- Enough money and healthcare to cover their stay.
- No previous Schengen visa refusals
How to Apply for The Golden Visa in Spain
- Step 1
First, contact La Vida for advice on Spain and other golden visa programmes to establish the most appropriate option for you and your family.
- Step 2
Visit Spain to view real estate options and select your investment, appointing a lawyer to take care of the conveyancing on your behalf. Through Power of Attorney (POA), the purchase can be completed at the notary in your absence.
- Step 3
Once the real estate investment is complete, you can then apply for the golden visa. This can be done in Spain or at your consulate and typically takes no more than one month for the initial one-year temporary visa to be issued.
- Step 4
You are then able to visit Spain to complete the golden visa application and obtain the residency permit, which is initially issued for two years. This can be renewed every five years, provided you maintain your investment.
