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How to Obtain Spain Residency by Investment and Which Benefits Will You Get?

For many years, Spain has been attracting wealthy and entrepreneurial people from other countries. It is not only due to a favourable location on the European continent, sunshine for up to 285 days a year, a strong economy, high quality of life and friendly people, but also the Spanish Golden Visa program launched in 2013. The program makes it possible for foreign investors to obtain Spain residency by investment.

You can get residency by investment in other EU countries, no doubt. However, according to Imperial & Legal’s experts, the Spanish residency by investment program is more popular because of how the program itself is run and because of the country and its status.

7 Advantages of the Golden Visa to Spain

  1. An investor does not have to take a test assessing their knowledge of the Spanish language, history, and culture. Neither do they have to prove their education or work experience.
  2. Investors can apply with a spouse, unmarried partner, minor children, financially dependent children under 26 years of age and even parents and parents-in-law.
  3. A future resident is offered three options for investing in the national economy which can generate a solid income after a few years.
  4. Your application will be considered within a short period of time compared to other European schemes. It means you can obtain your residence card within 2 or 3 months under normal circumstances; this period could be extended because of external factors such as the COVID-19 pandemic.
  5. Investors can recover their investments after 5 years.
  6. An investment resident does not have to remain in the country all the time, although a short visit to Spain will be required.
  7. Those who apply for Spain residency by investment can obtain Spanish permanent residency after 5 years, and after 10 years, it is possible to apply for European citizenship.

Opportunities of Obtaining Spain Residency by Investment 

  1. A card of a Spanish resident is your ticket to a comfortable and safe living conditions in a country with high standards of living, mild climate and beautiful nature, ancient history and an amazing cultural heritage.
  2. Spain’s residents by investment are allowed to do a wide range of activities as long as these activities are legal and they do not require permission from local authorities, a licence, etc.
  3. Spain residence card allows you to travel freely within the Schengen zone, which includes almost all EU countries, as well as Norway, Iceland, Switzerland and the Principality of Liechtenstein.
  4. Entrepreneurs are particularly attracted to the country due to its favourable location, sales markets, well-developed infrastructure, qualified workforce, reliable banking system and cheap loans for businesses.
  5. Your health and health of your family members will be protected by the Spanish National Healthcare System that is one of the best in Europe.
  6. Every year, thousands of foreign students are enrolled in Spain’s world-renowned educational institutions with an excellent reputation. Spain residency allows your children to receive a brilliant education which will ensure career growth and wellbeing.
  7. If you don’t plan to move to another country for a long time, Spain residence card is your security and a good place to wait out any economic or political issues back at home.

Requirements for Obtaining Spain Residency by Investments 

There are minimum requirements for potential residents in Spain:

  1. The first and most important requirement is having the necessary amount of money for investment. An applicant should have legally sourced funds earned outside of Spain.
  2. According to the Spanish legal system, an investor must be of age, i.e. at least 18 years old.
  3. An applicant is required by the authorities to have a good standing. It means:
    • no convictions in any country where an applicant has spent more than 12 months in the 5-year period before making an application
    • no criminal proceedings open against them
    • no violations of immigration laws.
  4. An investor and their family should be in good health. They are also expected to have a health insurance policy issued by a Spanish or European company certified to operate in the Spanish territory.

Investment Options for Obtaining Spain Residency 

It has already been mentioned that there are three options to get residency by investment in Spain:

  • Investment in real estate
  • Investment in government bonds, financial assets or a bank deposit
  • Business investment.

Investment in real estate in Spain 

In order to get Spain residency by investment, the total value of the property must be at least €500,000. If you invest in a more expensive property through a mortgage, the part of the real estate that costs €500,000 should not be encumbered.

Investment in financial assets 

This type of investment for Spain residency costs much more with the exact amount depending on assets. Our experts have presented them in ascending order of risk:

  1. You must invest €2,000,000 in government bonds to get Spain residency by investment.
  2. Bank deposit of €1,000,000 in a Spanish financial institution will also be considered an investment in the economy.
  3. You can invest €1,000,000 in shares and stocks of Spanish companies.
  4. You can buy €1,000,000 of shares in investment and venture funds.

Both government bonds and bank deposits are reliable options for investments that will save your money. However, they do not generate a lot of income and hardly make up for inflation. In contrast, the purchase of shares and stocks of local funds will be more profitable, but at the same time more risky for obtaining Spain residency.

Business investment

This option means registering your company and running a business in Spain. There are no specific requirements regarding the minimum investment in business for obtaining Spain residency. However, there are requirements for a newly opened company which the Chamber of Commerce and Industry takes into account when making a decision on your application. Your business should:

  • Create new jobs for Spanish nationals or residents
  • Contribute to the economic development of the region chosen for your company
  • Significantly contribute to scientific and technological innovations of Spain. 

If your future company meets one or more of the above requirements, you can be granted an investor visa.

Whichever investment option you choose to obtain Spain residency, you will need legal support from a reliable partner. 

If you invest in real estate, you need expert assistance to find a suitable property, draft contracts and close a deal. If you invest in financial assets, particularly shares in private companies or funds, you need to consult a competent financial advisor not only to preserve but also to increase your capital. People planning to run a business in Spain will need to prepare the supporting documents more thoroughly, including a detailed business plan for future business.

Imperial & Legal practices an individual approach and understands the importance of being a trusted partner at all stages of the immigration process from preparing and applying for Spain residency by investments to selling assets after 5 years of ownership.

The Procedure of Obtaining Spain Residency 

When your application for Spain residency by investment is approved, you get a Spain Golden Visa which is usually valid for 6-12 months; this time is enough for Imperial & Legal’s specialists to help you make the necessary investment.

Then our immigration advisors prepare an application and arrange a trip to Spain where your biometrics are collected and you are given a physical residence card. Spain residency by investment is granted for 2 years and can be extend for another 5 years.

If you obtain residency in order to move to Spain, after some time you will be able to obtain a permanent residence permit and a Spanish passport.

Permanent Residence Permit and Naturalisation in Spain 

Spanish authorities are not unreasonably in their expectations that a future permanent resident should not leave Spain for a long time in the last 5 years preceding an application for permanent residence. The total amount of absences during the last five years must not exceed 10 months, or 12 months if you must travel for work. 

A permanent residence permit is granted only to those residents who speak Spanish fluently, know local traditions, culture and history, have no serious offences and live in Spain legally for the last 5 years.

The next step is naturalisation (Spanish citizenship) and getting a passport. A Spanish passport is also an EU passport and gives its holder unique opportunities to travel around the world, work, study and reside in other EU jurisdictions. 

Before applying for Spanish citizenship, you must live in the country for at least 5 years as permanent resident, speak fluent Spanish, know local cultural traditions and have a good reputation. In most cases, the Spanish do not allow dual citizenship, so you will have to renounce your other citizenship.

For more detailed information on how to obtain both a Spain residence permit by investment and Spanish citizenship, feel free to contact our specialists.

FAQ about Obtaining Spain Residency by Investment

What is the difference between Spain residency by investment and other types of residence permits?

The main difference is freedom. You are not required to take a test assessing your knowledge of the Spanish language, culture, history and traditions, submit your credentials, work experience and live there for more than 183 days a year.

On the other hand, if you plan to move to this sunny country, you will have to learn Spanish, become a member of society and stay in Spain for the majority of the year. Only 5 years later, you will be able to apply for a permanent residence permit and another 5 years later, you will obtain European citizenship.

What is the best option to invest in Spain residency?

As we have mentioned, there is no single best option for investment as it all depends on your preferences.

If you do not have a lot of time and prefer to “acquire” Spain residency by investment, purchase government bonds or deposit your money in a bank. It does not require your active participation.

Buying a property is a reliable and profitable option as the Spanish property market is growing. However, in this case there will be management and maintenance costs and after 5 years you will have to sell it at a good price. At least you can share some responsibilities with a reliable property management company.

If you have an entrepreneurial spirit, invest in shares of Spanish companies or investment funds. Or else set up a company and invest in its development.

In short, investing in Spain residence permit depends on your personal preferences.

Which documents are required when applying for Spain Golden Visa?

Usually, a visa application is completed and submitted at a visa application centre in your home country. You need the following to apply:

  1. A completed application to obtain a Spain Golden Visa
  2. Payment of visa processing fee
  3. A valid travel document (with a blank page for the visa)
  4. Colour photographs of all applicants
  5. Criminal record certificate
  6. Health insurance
  7. Proof that finds investment are legally sourced. If you invest your partner’s, spouse’s money, you need to provide a power of attorney.

If you plan to invest in your own business, you should not only have the necessary amount of money, but also prove feasibility of your business idea to a representative of the Spanish Chamber of Commerce and Industry. Therefore, it is important to consult an experienced immigration advisor from a trustworthy company.

What kind of property do I need to buy in order to obtain Spain residency by investment?

Spain residency by investment in property is not only the most profitable investment option, but it is also the most affordable. Compared to investment schemes in other jurisdictions where an investor’s choice is strictly limited to government-approved properties, in Spain, you can buy an apartment, house, warehouse, office, shop, commercial space in a shopping centre, a room in a hotel under construction or land in the homeland of Salvador Dali.

You can buy one or more properties. The main thing is that the total amount of your purchases should be more than €500,000 as required by the investment programme. Some investors prefer to buy a small seaside apartment or a commercial property and rent it out for income.

If you want no risk whatsoever when buying a property in Spain, you should contact an immigration advisor straight away; they will represent your best interests as the buyer and find the most suitable option unlike a real estate broker.

Where can I travel with a Spanish passport?

If you have lived in Spain for 10 years, have successfully passed all the tests and obtained citizenship, you will be able to travel to 190 countries around the world wither visa-free or with the simplified procedure where an entry visa is issued at the passport control on arrival.

In the annual passport index, which estimates citizens’ freedom of movement of various countries, Spain ranks fourth, after Japan, Singapore, South Korea, and Germany.

When it comes to the European Union, Spanish residents can not only travel there freely, but also live, work, do business and study in any EU country without any constraints.

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