The Spain Golden Visa Program
The Spain Golden Visa program, officially known as the Spain Investor Visa or Spanish Residence Permit for Investment is a visa scheme that offers non-EU citizens legal residency in exchange for a significant investment. This is not a fast-track to citizenship, but it does make the process significantly easier and allows you to bypass some of the strict requirements that apply to other types of resident visas.
The program was introduced in 2013 and has become increasingly popular with foreign millionaires looking to invest in the country. The main attraction is that the scheme grants you a residence permit without any minimum period of stay, making it much more convenient than other options. You also gain access to the country’s national healthcare system and are eligible for family reunification.
While there are several ways to qualify for the visa, real estate investments make up the majority of applications. A single residential property in a desirable location can cost over EUR500,000, but other investments also count towards this total. For instance, the purchase of shares in a Spanish company or an investment fund can count toward your eligibility as long as you meet the minimum amount of investment required. Purchasing government bonds is another option, although these are less common and tend to be subject to higher minimum investment amounts.
The visa is valid for three years and can be renewed indefinitely. It is also possible to upgrade to permanent residence after ten years, provided that you comply with the requirements set out in the legislation.
One of the main advantages of this type of visa is that you can bring your entire family to Spain with you. This includes your spouse and children, as well as your parents and siblings who are financially dependent on you. With other types of residence permits, you may have to wait months or even years before your family members are able to join you in the country.
While the visa is relatively easy to obtain, it is important to understand that you must comply with the requirements of the scheme. The Spanish government will carefully review your application and ensure that you have the necessary documentation before granting you a visa. It is recommended that you work with a professional who can help you gather the necessary information and prepare your application.
The Spanish golden visa program is an ideal choice for wealthy individuals looking to acquire residency in a safe and stable country. However, it is important to note that the country’s progressive political party has proposed bringing the programme to an end, arguing that it contributes to the rise of property prices and pushes locals out of their neighbourhoods without creating jobs. The Spanish government has not confirmed any plans to end the programme, but is considering imposing more rigorous checks on applicants. The move comes after the European Commission urged countries to tighten up on their checks for investor visas, describing them as a security and money laundering risk. golden visa program spain