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Everything you need to know about citizenship and residence programs around the globe.
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The Spanish government launched its migration scheme for investors and entrepreneurs in 2013 in order to attract foreign investments, experience and talent from third countries, meaning non-EU states, and boost local economy. Individuals may qualify to obtain a Spanish temporary residence permit, after which they can apply for a permanent residence permit and eventually become Spanish citizens subject to their fulfilment of certain terms and conditions.
As a way to receive European residence and citizenship, Spain offers investors and businessmen a wide range of benefits:
Applicants outside of Spain have to apply for an investor or entrepreneur visa that would permit them to live and work in Spain. It is normally issued for 1 year, except for non-formalised purchase of real estate when it is granted for 6 months. After 1 year, or after the purchase of real estate is formalised, applicants must apply for a residence permit. It will be granted for 2 years subject to renewal for another 2 years, or 5 years in case of an investor visa.
Applicants that are legally in Spain at the time of application must apply for a residence permit that will be granted for 2 years subject to renewal every 2 years.
Apart from below mentioned investment requirements applicants must also comply with the following:
There are three investment options that an investor or a businessman can choose from and qualify for the Spanish temporary residence permit. An applicant must invest in one of the following options below:
Applicants may apply to obtain a visa and/or residence permit in Spain through minimum investment in one of the eligible financial assets below:
To qualify for a visa and/or temporary residence permit under this option, each applicant is required to invest at least €500,000 in real estate.
There is no minimum requirement. However, it must be of general interest and there are certain conditions that must be met, at least one of them:
After 5 years of obtaining a temporary residence permit and of a continuous and legal residence in Spain, individuals may apply for Spanish permanent residence. Another requirement is to arrange for health insurance. Permanent residents are allowed to work and use social services and benefits without giving up their current nationality.
10 years of continuous and legal residence in Spain immediately prior to the application will allow a non-EU national to apply for Spanish citizenship and get an EU passport. There are certain conditions that must be met:
Spain does not generally permit dual citizenship except for some exceptional circumstances. Please contact our citizenship experts to find out if you are eligible to keep your current nationality.
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