Spain is a country located in Southwestern Europe with some pockets of territory across the Strait of Gibraltar and the Atlantic Ocean. Its continental European territory is situated on the Iberian Peninsula. With an area of 195,360 sq mi, Spain is often considered to be a continent-worth of variety in one country of a manageable size. It is one of the largest countries in Europe and ranks number 15 in the world with a population exceeding 47.3 million. Spain’s capital and largest city is Madrid. Neighboring countries include Andorra, France, Gibraltar, Portugal, and Morocco. Spain controls a number of territories in northern Morocco including several enclaves and the Canary Islands.
Richly varied in its geography, climate and culture, Spain offers something for everyone. From the verdant hills and rocky coasts of Galicia, Asturias and Cantabria to the tropical splendors of the Balearic Islands. Cultural influences in Spain are equally diverse and have left an indelible imprint on the art, architecture, music and gastronomy of Spain. Spain has a mixed capitalist economy in which there is a variety of private freedom, combined with centralized economic planning and government regulation. Spain is a member of the European Union (EU).
Spain Golden Visa Investment Option & Requirements
Spain launched its golden visa programme in 2013. Spain is one of the most desirable destinations worldwide and is a highly sought-after location for investors. For those who wish to reside in this lively country, the Spain Residence-by-Investment Program is the most efficient way to acquire such status. The Spanish government has allowed for a substantial number of visas for individuals who wish to make a significant, qualified investment into the country that would boost the economy through foreign direct investment. Under this program, individuals and their immediate family members can become permanent residents of Spain within less than a month.
Investment Options:
- The main applicant is required to make an investment of amount €500K in any of the residential or commercial real estate properties. However, the applicant just needs to maintain the amount once the residency permit is approved.
- The main applicant as an investor can work through any company in Spain or any internationally recognized company with a shareholder of 51%.
Fee Breakdown:
| Government fees: | €100 Per Applicant |
| Cost for Real Estate Completion: | Stamp Duty: Varies from 6% to 10% of the completion price Land Registration and Notary Fee: €3,500 |
| Legal Processing Fee: | Provided upon request |
| Government Fee for Renewal: | €120 Per Applicant |
An applicant:
- Should be at least 18 years old.
- Should have evidence that they have enough legally sourced finances acquired to be used for investment.
- Have no criminal record in Spain or in the countries where they have resided for the past five years.
- A prospective investor and their family should be in good health.
- Have a health insurance policy with an insurance company authorized to operate in Spain.
- Have paid the visa or authorization processing fee.
- Spouse and children under the age of 18 as dependents.
- Parents and children older than 18 must be dependent on the main applicant.
- For the renewal of the Golden Visa, there is no compulsion to spend more than 182 days in Spain per year. The applicant will remain a non-tax resident during their stay.
- Must be in Spain Legally to submit an application for Golden Residency.
- Required to maintain the investment amount for the renewal of the residency permit.
Procedure and Initial Application
The first step for the main applicant is to explore the property buying options in Spain and start the process. Once the purchased property gets the approval from Power of Attorney Spain and the transaction is completed, the process is done. Initially, A year golden visa will be allocated to the applicant which will be extended for two years and as long as the investment is maintained, renewal of Visa for 5 years becomes convenient.
Benefits
- Investors will get the visa in 14 days once they make an investment of 500,000 Euros.
- The main applicant and all the dependents will be eligible to live and work in Spain.
- Ability to include a spouse, 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
- As a resident of Spain, you are also a resident of a European Union country and are entitled to freedom of movement in the Schengen area
- You and your family will be able to study in schools or universities in Spain and have access to world-class healthcare systems and services.
- Once the first five years period is over, a permit is extended for more than 5 years to manage the investment amount.