Spain is the world’s 14th largest economy, a long-standing member of the EU, Schengen, Eurozone and NATO. It’s a leading country that offers top-notch infrastructure, solid banking services, and high standards of living for its citizens and residents alike. Its culture, food, and Mediterranean lifestyle are recognized globally. And the best of all, its prices are affordable.
In terms of investment opportunities, Spain is among the top choices for foreign investors, thanks to its booming economy and solid real estate market. The country’s property investments contribute to a large percentage of its GDP. It is also home to some of the most beautiful beaches and a high standard of healthcare, education, and public facilities.
The Spain golden visa program allows non-EU citizens to gain residence in the country by investing at least EUR500,000 in a variety of activities. Investors can choose from real estate, shared ownership in an established business, or bank deposits. The program has attracted interest from China, Russia, and Iran, with over 3 billion euros already invested in Spain through the program.
To qualify for a Spain golden visa, applicants must make a substantial investment in one or more of the following categories:
Real estate investment
Property purchases are the most popular avenue for obtaining a Spain golden visa. In fact, the majority of applicants opt for this route. The minimum investment in a new property, or “obra nueva”, is EUR500,000. The purchase can be made through a developer or private sale, but it must be a legally registered and documented transaction. A buyer may also choose to build their own property as part of the investment, but it must be a newly constructed structure that is subject to the same rules and regulations as other properties in Spain.
Investing in an existing business that will create jobs for Spaniards, make a contribution to innovation in the field of science or technology, or have a significant socio-economic impact, also qualifies a person for a Spain golden visa. The business must be registered and owned by a Spanish citizen or company. Alternatively, an individual can set up a business in collaboration with a Spanish company. The applicant must prove that he or she has sufficient economic resources to cover the cost of the investment and living expenses in Spain, as well as proof of health insurance for himself and his family members.
A Spain Golden Visa will allow non-EU citizens and their families to enjoy a range of benefits, including visa-free travel throughout the EU Schengen zone. It will also give holders a pathway to citizenship after 10 years of residence in the country.
In addition to the benefits of a Spain golden visa, its application process is relatively fast. This is because it is handled by a public body dedicated to the program. In addition, applicants will have access to legal representation to ensure the completeness of their applications. This includes overseeing the completion of their property and completing the required paperwork for each step of the process.