In 2013, the Spanish government introduced the Spain Golden Visa Program to enhance its economy. The program enables foreign investors to acquire residency for themselves and their family members by investing a minimum of €500,000 in real estate, which can be leased out for income. Upon investment, the Spanish residency permit is granted for two years, which can be extended for five more years. Holders of the golden visa are not required to reside in Spain, and their family members can freely travel within the Schengen zone without obtaining any additional visa. The renewal of the residency permit can be accomplished online from anywhere in the world. After five years, golden visa holders can apply for permanent residency, which mandates them to have resided in Spain for at least six months each year. Citizenship can be obtained after 10 years of investment.
Which Family Members Can Be Added in the Same Spain Golden Visa Application?
The Spain Golden Visa program allows for the main applicant to include their spouse and dependent children who are below 18 years of age in the same application. Additionally, parents can also be included in the application, provided that they are financially dependent on the main applicant.
The Spain Golden Visa program offers several benefits to foreign investors, including visa-free access to all Schengen countries, the ability for investors and their dependents to live, work, and study in Spain, and the flexibility to maintain residency without the requirement to reside in the country. In addition, investors can apply for Spanish citizenship after ten years of investment. The program also allows for legal family dependents to obtain a residency permit. Another advantage is the opportunity for lucrative real estate investments that generate rental returns.
The Spain Real Estate Investment option allows Non-EU investors to purchase a commercial or residential property in any government-approved real estate project for a minimum of €500,000. To qualify for the Spain residency permit renewal, the investor must retain ownership of the property. The investor can either reside in the property or rent it out to generate rental returns on the investment. After obtaining permanent residency or citizenship and a passport, residency permit renewals become unnecessary, and the property can be sold.
The cost of obtaining a Spain Golden Visa through real estate investment includes a minimum investment of €500,000 in a government-approved real estate project. In addition, a family application fee of €8,000 is required, along with a government processing fee of €70. Conveyance fees are also applicable, which amount to 1.0% of the total property price. It is important to note that additional costs, such as legal fees and taxes, may also apply depending on the specific circumstances of the investment.
How to Qualify for the Spain Golden Visa
To qualify for the Spain Golden Visa program, investors must meet the following requirements:
• Investors must be at least 18 years old to apply.
• Applicants must not have a criminal record in Spain or in any country where they have previously resided.
• Investors must provide detailed bank statements to demonstrate that they have the necessary financial resources to support their residency in Spain.
• All family members must have health insurance from an authorized insurance provider in Spain for the duration of their stay in the country.
• Applicants should have no history of visa rejection or rejection of entry to any EU country.
Meeting these criteria is crucial to successfully obtain a Spain Golden Visa, allowing investors to take advantage of the program’s benefits, including the ability to live, work, and study in Spain, visa-free travel to all Schengen countries, and the opportunity to apply for Spanish citizenship after ten years.
The Spanish citizenship and passport come with a wealth of advantages and attractive benefits that have made the Spanish passport one of the most sought-after globally. Ranked as the third strongest passport in the world, Spanish passport holders enjoy visa-free travel to 194 countries. To be eligible for Spanish citizenship and a passport, applicants must reside in the country for at least six months each year for a minimum of ten years.
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