The Spain golden visa is a residency-by-investment program that allows non-EU citizens to invest in the country and gain family residence. The permit can be renewed every two years and after ten years can lead to citizenship.
The main applicant will be the property investor, but accompanying spouses can also be granted a permit. Other investment options include public debt, listed shares in Spanish companies, bank deposits and other types of capital investments.
What is a Golden Visa?
A Golden Visa is a type of residence permit in Spain that gives non-EU citizens the opportunity to obtain residency by making a significant investment. The Spanish government created the program to encourage foreign investment and boost its economy. The visa is not a passport, but it does allow holders to live in the country, access its health system, and travel within the Schengen area.
The program was launched in 2013. It is similar to other residence by investment programs, but the main difference is that it does not require a minimum period of residence. Applicants can receive a golden visa by purchasing real estate worth at least 500,000 euros, or by investing in companies or state-issued bonds.
Those who qualify for the visa can apply for permanent residency after five years and citizenship after ten years. They must also prove that they have not spent more than six months outside of Spain in those five years.
What are the requirements for a Golden Visa?
Launched in 2013 as part of Spain’s national strategy to boost the economy, the Golden Visa is a residence by investment program that offers non-EU citizens legal residency in exchange for a financial investment. The program is not a direct route to citizenship, but after ten years of continuous residency and “ties to the country,” such as language proficiency, it is possible to apply for citizenship.
Those who meet the requirements for the Spanish Golden Visa will receive a residence permit for themselves and their family members, which can be renewed every two years. This allows them to live, work, and study in Spain, as well as travel to all Schengen Zone countries without the need for a visa.
In order to be granted the visa, applicants must submit the following documents:
What are the benefits of a Golden Visa?
The benefits of a Golden Visa vary from country to country, and can include a path to citizenship, access to world-class universities, and the ability to invest in real estate and businesses. Many countries also offer tax incentives for investors, and a fast track to residency.
In Spain, the Golden Visa allows non-EU citizens and their families to obtain a residence permit in exchange for an investment of at least EUR500,000 in real estate or other eligible assets. The visa is renewable every two years, and holders can travel freely within the Schengen zone without a separate visa.
In addition, a Golden Visa holder can apply for Spanish citizenship after ten years of residence. The program has been criticized for driving up property prices and pushing locals out of their communities, but it has also proven successful in attracting foreign investment and boosting the economy.
What are the disadvantages of a Golden Visa?
The scheme enables foreign citizens and their families to obtain residence permits in the country by investing a certain amount of money. These visas can be obtained by buying a property worth at least 500,000 euros in Spain or by investing in business projects that are considered of public interest and by holding shares or bank deposits.
Despite the fact that golden visas have been praised for their contribution to local economies, they are increasingly being phased out by EU countries. Inigo Errejon, the leader of Spain’s left-wing Mas Pais party, recently called for the end of the programme as he claimed that it had resulted in “a brutal rise in housing prices and forced residents out of their neighbourhoods without creating jobs.”
Nevertheless, the autonomous region of Madeira is refusing to let the program go and is considering toughening its requirements. This may include increasing the minimum investment to a level that is closer to the actual price of luxury properties in Spain.golden visa spain
