The simplicity of the process, the inclusiveness of your core family for residency, the straightforwardness of the process, and the accessible amount of capital needed to make the Spanish Golden Visa scheme the best in Europe. On top of that, the quality of living in Spain is remarkable.
In this article, however, we explain everything you need to know about the Spanish Golden Visa law. Learn how you can obtain a visa by investing at least 500,000 euros in a property in Spain and what the requirements are for keeping it.
High quality of life
Spain boasts one of the highest quality of living in the EU. The climate, especially in the Canary Islands, is mild, well-developed amenities and services are, excellent private education institutes throughout the country, and it is one of the safest and most stable democracies you will find.
If you acquire a Golden Visa in Spain, your spouse or unmarried partner, financially dependent children of any age (adult children must be full-time students), and your financially dependent parent(s) and/or their spouse who are 65 years and older are all granted automatic residency with you.
Free access to the public healthcare and education systems in the country
Spain has one of the finest healthcare systems in the world. Being a mix of both public and private healthcare institutions, as a resident you are granted free access to all public health services and eligible for additional insurance for the private healthcare sector. Prices for private healthcare are very reasonable, starting at 30 euros per person per month for full coverage.
Requirements of Spanish residence by investment
The Spain Golden Visa Program requires that a non-EU citizen invests in either a real estate project, a business project, company shares, hold bank deposits, or holds government bonds.
The acquisition of real estate with a minimum value of EUR 500,000
The most commonly chosen path to gain investment residency status is through the acquisition of one or more properties worth at least €500,000. This can be a single unit or several units which amount to half a million.
What makes North Tenerife a viable option is the abundance of year-round demand for tourist accommodation. With one of the highest occupancy rates in the world, we can assure your investment will earn you yields of 5-8%. Find out more about our property management services.
Other options to obtain a Spain Golden Visa are:
- The creation of a business project to be developed in Spain, duly recognized as being of ‘general interest
- Company shares or bank deposits with a minimum value of EUR 1 million in Spanish financial institutions
- A government bonds investment with a minimum value of EUR 2 million
(Documentary evidence of the investment must be provided as part of the application process.)
Procedures and time frame of the Spain Golden Visa Investment Program
Applications to the program must be made through the prescribed forms and must be accompanied by the appropriate fees and supporting documents.
Residence permits are usually issued after a 20-day consideration period and have an initial duration of two years, renewable for five years upon request, provided that a minimum investment in Spain is maintained by the applicant.
The application process comprises two stages:
In the first phase, applicants apply in their home country for a Spanish residence visa that allows them to reside and work in Spain for one year.
In the second phase, applicants apply for a Spanish residence permit. If they have come to Spain on an ordinary tourist visa, they may apply for the residence permit directly, thus omitting the first phase.
The residence permit applies to the main investor, spouse, or partner (including unmarried or same-sex unions), and all economically dependent descendants.
There is no minimum stay requirement to maintain residence status, but obtaining the first residence permit requires a visit to Spain.
Residents may apply for citizenship only in their 10th year of residence in Spain. However, Sephardic Jewish descent and citizens of Equatorial Guinea, former Spanish, Latin American colonies, and the Philippines can apply for Spanish citizenship after only two years of effective residence in Spain. Dual citizenship restrictions apply to most foreign nationals.
We work with a specialized legal team of professional lawyers who can help obtain a golden visa quickly and smoothly. Please fill in the form below if you would like to be contacted for this purpose.