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Spain is a popular destination for travellers and residents alike, offering a high quality of life and unrestricted travel throughout Europe.The diverse landscape spans beaches to mountains, while its vibrant culture resonates through its music, dance, cuisine, and architecture. The country has a strong legal system that promotes freedom and human rights, including for the LGBTQIA+ community.
Spain has a dynamic and rapidly growing economy, with a strong textile and apparel industry, and a favorable tax regime for residents and non-residents alike. Non-residents pay taxes only on Spanish-sourced income. Residents by investment avoid being classified as tax residents unless they spend more than 183 days per year in Spain. With its impressive economy, culture, and legal system, Spain is an attractive option for those seeking a high quality of life in Europe.
The Spain golden visa program, also known as the residency by investment program, allows foreign nationals to obtain a visa by making a significant investment in the country. The minimum investment required for this program is EUR 500,000, and the processing time for the immigration procedure is approximately 20 days. Successful applicants and their families are granted visa-free access to the European Union’s Schengen Area.
Spain is a highly desirable destination for travel and residence, offering a high quality of life, diverse culture, rich history, beautiful beaches, and majestic landscapes. Under the citizenship by investment program, individuals and their immediate family members can become residents of Spain within less than a month.
Residents by investment can enjoy a range of benefits, including the ability to include their spouse or unmarried partner, financially dependent children of any age (adult children must be full-time students), and financially dependent parents of the main applicant and/or their spouse who are 65 years and older. They also have access to the public healthcare and education systems in the country.
Furthermore, Spain is a vibrant EU country, and residents by investment may apply for Spanish citizenship after five years of continuous citizenship in Spain, and after two years of effective residence for Sephardi Jews and citizens of Equatorial Guinea, Latin America, and the Philippines, and 10 years for other nationals.
The Spain citizenship by Investment Program is ranked 8th out of 26 programs on the 2022 Global Residence Program Index. Additionally, Spain has excellent schools, with tuition available in English, French, German, Italian, Japanese, and Mandarin.
To be eligible for the Spain Residence by Investment Program, foreign individuals must invest in real estate, a business project, company shares or bank deposits, or government bonds. The investment options include acquiring real estate with a minimum value of EUR 500,000, creating a business project recognized as being of ‘general interest,’ investing in company shares or bank deposits with a minimum value of EUR 1 million, or investing in government bonds with a minimum value of EUR 2 million. Documentary evidence of the investment is required as part of the application process.
Residence permits typically follow a consideration period and initially last for two years. They can be renewed for five years upon request, contingent on the applicant maintaining a minimum investment in Spain. The residence permit covers the primary investor, their spouse or partner (including those in unmarried or same-sex unions), and all financially dependent descendants. There is no minimum stay requirement to retain the residence status; however, acquiring the initial residence permit necessitates a visit to Spain.
Residents may apply for citizenship in their 10th year of residence in Spain. Dual citizenship restrictions apply to most foreign nationals. However, Sephardi Jews, citizens of Equatorial Guinea, Latin America, and the Philippines can apply for Spanish citizenship after just two years of continuous residence. The Spain Residence by Investment Program also offers high-quality healthcare and education systems. It is a vibrant EU country with majestic landscapes and allows inclusion of family members in the application process.
Spain is one of the most sought-after destinations for individuals looking to relocate to Europe. The country offers an excellent quality of life, a rich cultural heritage, and a thriving economy. To attract foreign investment and talent, Spain has launched a program called the Spain Golden Visa Program. The program offers citizenship in Spain to non-European Union citizens who make a significant investment in the country.
Here is a step-by-step guide to the Spain Golden Visa Program:
The Spain Golden Visa Program offers several investment options, including:
Real Estate Investment: Making an investment of at least €500,000 in Spanish property.
Public Debt Investment: Investing a minimum of €2,000,000 in Spanish public debt.
Capital Investment: Investing a minimum of €1,000,000 in Spanish companies or bank deposits.
Business Investment: Investing a minimum of €1,000,000 in a new or existing Spanish company, creating jobs for Spanish citizens.
Once you choose your investment option, apply for a Spanish residency visa at the Spanish Consulate in your home country. Provide proof of investment, demonstrate adequate financial support, and submit a criminal record certificate from your home country.
Once your visa is approved, you can travel to Spain to complete the investment process. If you have chosen the real estate investment option, you will need to purchase a property worth at least €500,000. If you have chosen the capital investment option, you will need to make a bank deposit or invest in a Spanish company.
After completing your investment, you can apply for a residence permit in Spain. The permit is valid for two years and can be renewed for another two years. After five years of residency, you can apply for permanent residency and after ten years of residency, you can apply for Spanish citizenship.
To maintain your Spanish residency, you must maintain your investment for the duration of your residency. If you have chosen the real estate investment option, you must retain ownership of the property. If you have chosen the capital investment option, you must maintain your bank deposit or investment in the Spanish company.
In conclusion, the Spain Golden Visa Program offers non-European Union citizens an excellent opportunity to obtain Spanish citizenship through investment. By following these steps, you can easily secure a Spanish residency permit and enjoy the numerous benefits of living in this beautiful country.
Here is a comprehensive guide to acquiring premium real estate in Spain connected to the Spain Residence by Investment Program. To maintain and renew the residence permit, it is necessary to hold the real estate for the minimum required period. For real estate investment, you need to invest a minimum of EUR 500,000, and full ownership is mandatory. Rental income opportunities can yield 3-5% on residential property.
Spain offers a vast and attractive real estate market, with 7,000 km of coastline and 17 autonomous regions, each with their own unique features. Investors can choose from a variety of properties, ncluding a sunny villa by the Mediterranean Sea, a cosy apartment in lively central Madrid, a traditional country house in the green north region, or a hideaway in a Pyrenees ski resort.
Property prices in Spain have started to recover since 2017 after a decade of decline, making it an excellent time to invest in this asset class. With low interest rates in Europe and Spain experiencing economic recovery, analysts expect price increases in the coming years. Rental income opportunities are also an advantage in Spain, thanks to short-term tourist leases and the increasing tendency of locals towards rental housing. Governments have introduced incentives to encourage rental housing, and the population increasingly favors this more flexible option.
When acquiring property in Spain, there are some fees to keep in mind. The regional property transfer tax depends on the location of the property and ranges from 6% to 10% of the property value. The legal fee for drafting the purchase deed is approximately EUR 2,000, and the notary public fee is also around EUR 2,000. Additionally, the property registry fee for registering the buyer as the new owner is approximately EUR 1,000.
