Investment amount EUR 500,000
The Spanish “Golden Visa” Law was introduced in 2013, allowing non-EU citizens and members of their families the opportunity to obtain a Temporary Residence Permit. The Temporary Resident Permits will also be granted to Spouses and any dependent children (under 18 years of age) but will not give the resident benefits such as free healthcare and education or other social benefits and so the investor and his or her family must have health insurance and be able to show sufficient financial resources to support themselves.
Time to citizenship 10 years (and must reside in Spain)
Visa free travel Visa-free to 29 Schengen countries
Investment type Real Estate
Investment cost EUR 500,000
Family dependents Spouse and children below 18. Adult children above 18, and parents of main applicant qualify as long as they prove financial dependency
Passport validity 10 years (and must reside in Spain)
Citizenship Law or Residency Law
On the 27th September 2013, the Spanish Government introduced Law 14/2013, in support for entrepreneurs and internationalization, to give non-EU citizens and members of their families the opportunity to obtain a Spanish Residence Permit in exchange for carrying out Real Estate investments in Spain whose value exceeds € 500,000 Euros. The purchase can be made by an individual or through a legal entity (company) that is 100% owned by an individual but in either case, the purchase must be in full and free of any charge (without using a bank loan or mortgage).
The Spanish Residence Permit is granted indefinitely but will require the Owner to visit Spain once each year to renew and to receive the replacement EU National Identity Card.
COUNTRY INFO
Located on the Iberian Peninsula in South Western Europe, Spain is a member of the European Union, Eurozone and the Schengen
Agreement. Spain is also a member of the United Nations, the OECD and NATO. It is a developed country with the thirteen largest economy in the world by nominal GDP and has high living standards with the tenth-highest quality of life index rating in the world.
Spain is the third most popular tourist country in the world, and it is not hard to see why. Every region has its own characteristics which are still very much influenced by the different cultures, languages, and geographies of the separate kingdoms that once ruled them, which in addition to all, the sun, sea and sand, explains why it is such a fascinating and popular holiday destination.
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| CAPITAL | MADRID |
| POPULATION | 46.94 million |
| LANGUAGE | Spanish |
| GOVERNMENT TYPE | Parliamentary Monarchy |
| CURRENCY | Euro |
| EXCHANGE RATE | 1 USD = 0.9214EUR |
BENEFITS
SIMPLE PROCESS
Only one visit to Spain per year is required to maintain the permit
The Spain Golden Visa can easily be renewed every two years
You obtain the right to work as an entrepreneur or employee once you’ve been granted the 2 years permit
Spanish Residence permit extends to Spouse and children below 18 years of age
No interview, language test, education or management experience required
GLOBAL MOBILITY
Freedom of movement in the 29 Schengen countries
Allowed to stay and work in Spain
ADDITIONAL ADVANTAGES
You could obtain Spanish citizenship if you comply with some requirements as follows:
The first step is to get a residence visa which is valid for a maximum of one year (Golden visa)
The second step is to apply for a 2 years residence permit which can be renewed every two years, provided your investment is still in place
If you have spent at least 6 months in Spain every year, after 5 years you can apply for a permanent residence of 5 years
After you have reached 10 years under the conditions above you can apply for the Spanish nationality
Limited taxation if you are in the country for less than 6 months per annum you only pay taxes on the initial purchase of your real estate and thereafter on the value of your assets in Spain, if any
COSTS
To be eligible for residency in Spain under its residency by investment programme, the applicant is required to make a property investment in Spain’s real estate market.
1. REAL ESTATE INVESTMENT
Real Estate Investment in Spain - Minimum Investment EUR 500,000
REQUIRED DOCUMENTS
Citizenship Invest appoints a Document Collection Specialist for each case. The firm offers a bespoke service that simplifies the application process, requesting from clients the bear minimum. Our job is to simplify the document collection as much as possible and when required we obtain the documents for the client without their involvement. Please note the below list is to be used as a guideline only, after assessing the particular case Citizenship Invest prepares a personalized checklist.
Documents required from each applicant including children:
• Original passport, valid for at least one year, and two blank pages for the visa.
• Two (2) Original passport-size photos
• Proof of valid medical insurance: public health insurance and private contracted with an insurance company licensed to operate in Spain.
• Medical certificate: (Original and photocopy, original translation and photocopy of translation if required): This document must be issued no more than 90 days before your appointment date, must include letterhead and original signature and/or stamp from a doctor (only M.D. or D.O’s will be accepted).
• Certified copy of the criminal record certificate for the past five years, from your country of origin. The certificate must have been issued no more than 90 days before submitting your application and must be valid for a period of three months after the date of issue. The certificate must be legalised by the Spanish Consulate/Embassy in that country
• Original excerpt of Birth record or certified copy of Birth certificates must be officially translated into Spanish or English and the translation must be certified by the Spanish Consulate in the country of issuance.
Documents required only from the main applicant:
• Proof of work or Proof of personal company and income – Official document that proves the applicant’s work address, type of work and annual income.
Official English or Spanish translation and legalised by the Spanish Consulate in the country of Residence
• Bank Statements for the last 12 months
Documents required only if married persons apply together:
• Original excerpt of marriage record or certified copy of marriage certificates must be officially translated into Spanish or English and the translation must be certified by the Spanish Consulate in the country of issuance.
• Certified copy of divorce certificate must be officially translated into Spanish or English and the translation must be certified by the Spanish Consulate in the country of issuance (if applicable)
Client signs CI Retainer Agreement and pays the retainer invoice
The client chooses the property remotely. If the client wants to go to Spain to choose a property, then the client will then need to go to the Spanish Consulate of his residence (or Country of origin) and apply for a Tourist Visa
WEEK 2-8
The lawyers execute the purchase of the property and all investment documentation is collated. At this point, property purchase costs and taxes will be payable
N.B. The property sale contract will be subject to successfully obtaining the residency visa.
All documentation for the Residency Application is finalized
Once the file is ready it is submitted to the Government, at this point Government Fees are payable
File Submission Payment of CI Professional Fees is payable.
WEEK 8-9
Once the Government has reviewed the file, officials advise CI as to whether the applicant has been given Residence Visa approval.
WEEK 10-11
The client is issued with a Residence Visa.
This is valid for 1 year however as this doesn’t allow the client to work in Spain, the client can apply for the 2 year Residence Permit straight away if they want to work in Spain. CI final Professional Fees are paid.