The aim of Spain Golden Citizenship law is to stimulate foreign investment and welcome competent entrepreneurs in the country to boost overall economy. It allows non-EU natives to qualify legally for residency permits by investing a defined amount in government-based real estate project that leads to long-term nationality.
Spanish Golden Citizenship comes with additional benefit of visa-free travel to the European Schengen territories that’s a major attraction for many investors other than the EU natives.
The drop in real estate price also created excellent investment opportunities so it’s quite a lucrative combination from an investor’s viewpoint.
The standard procedure
Before travelling to Spain, better determine which region fits best to you or family as it would be a deciding criteria. Research different areas like local facilities, banks, educational institutions, ongoing residential and commercial development projects so on.
Find the perfect investment option
It’s recommended to examine the properties for at-least two or three days before taking a final investment decision. After that, you only need depositing the specified amount that’s normally 5-10,000 Euros.
Investment criteria, laws & requisites
- Minimum investment starts from 500,000 Euros so make sure you proceed with the sum in account.You need adding approximately 11-12 percent on top of the purchase amount for tax, stamp duty, VAT, lawyer and notary.
- Initial amount that is being invested may spread over multiple real estate units.
- You may proceed through a foreign company only if majority of ownership, stocks or asset is in your name.
- You may borrow a certain amount from home country or any other state outside of Spanish domain but rules for each may vary.
- Spain Golden Citizenship may be issued to the applicant’s immediate family including spouse or any other unmarried individual.
- Adolescents of the age above 18 years may be granted residency visa as well as young adults depending on their parents only if defined criteria comply with the law.
- No restriction on the stay timeline for visa renewal which means applicant have the option to reconsider and move on.
- Validity of the visa is for five years whereas permanent residency is bestowed after successful completion.
- Possibility of application refusal is there only with a valid proof of criminal record.
In addition to the above, other requirements are defined below;
- Primary applicant mustn’t have entered and resided in Spain or any of its territories.
- Must be above 18 years and no record of entry refusal for any of the Schengen countries.
- Must hold private or public health insurance that also valid in Spain.
- Proof of sufficient financial resources to manage personal and family expenses.Investment proof must be backed by a Registry of Property certificate and ownership confirmation.
With residency comes the right to live and travel throughout the country and states where it actually holds recognition. Spain Golden Citizenship is bestowed after some time that’s your gateway into other countries within the European Union.
The Golden Investor Visa Program of Spain promises improved lifestyle and quality that you really deserve.