The Spanish golden visa is a residence visa for non-EU citizens who invest in the country. The program was introduced in 2013 to lure foreign investors and promote real estate investment. It also offers other benefits for the investor and his or her family, including the ability to work in Spain.
The investment options for the Spanish golden visa vary from EUR500,000 to more than EUR2 million in property (excluding fees and mortgages). In addition to real estate, the Golden Visa program also allows for investment in treasury bonds, shares of Spanish companies, or deposits in Spanish banks. Other investments that qualify for the golden visa include creating employment opportunities, investing in innovation in science or technology, and making a significant socio-economic impact.
Investors can apply for a three-year residency permit after submitting their investment and meeting other requirements. The permit can be renewed for two additional years. The resident card enables the holder and his or her family members to travel within the Schengen zone without needing a visa, and it also gives them the right to work in the country. After five total and consecutive years in the country, the holder can apply for permanent residency.
Unlike other types of visas, the residence visa for Spain is also available to family members. Those applying for the visa must provide proof of marriage and children, and all documents need to be certified. In addition, they must submit a medical certificate from a qualified doctor, which must be written in English or Spanish and have an original stamp.
In recent months, several European countries have tightened their rules on granting golden visas to foreign investors. Ireland, Portugal, and Greece have stopped issuing residency permits to wealthy foreigners who purchase property.
Spain, however, is considering stricter rules for the program. According to the Spanish daily El Pais, officials are weighing new laws that would limit the number of residence permits granted for investment in property and require more information about the source of the funds.
Currently, the golden visa program offers investors and their families the opportunity to live in Spain permanently. In addition, the residents can travel to other Schengen countries without needing a visa. They can also apply for citizenship after ten years of residence. The main investor and his or her family can also obtain the same benefits as Spanish citizens, including healthcare, education, and social security. However, it is important to note that the program does not grant a passport and requires that the investors give up their own. It is important to consult with an experienced immigration specialist, such as La Vida – Golden Visas, before deciding on the best option for you and your family. The firm can help you find the best investment and oversee all the bureaucratic aspects of the process. In addition, it can act as your legal representative and supervise the construction of your property. Moreover, it can also help you complete the visa application process for your family members. golden visa spain