The state program for obtaining a residence permit for investors in Spain was launched in 2013. Gradually gaining momentum, by 2017 it became the most popular in Europe. Today, more than 30,000 people have already received a residence permit for investment, and the country's economy was replenished with more than two billion euros. What does the Spanish Golden Visa program have to offer? Absolute freedom of movement for those who like to travel within the 26 countries of the Schengen zone.
Residency is formalized very quickly ― only in 2-3 months. The participant of the program has the right to freely work and do business (in other ways of obtaining a residence permit in this matter there are many nuances). Ordinary residence permit provides the requirement to reside in Spain 183 days a year, Golden Visa reduces this period to seven. Together with the applicant status can get his family members ― his wife, children, and parents (of any age, but are on his maintenance).
In addition to the program itself, seekers of Spanish citizenship are attracted by the undeniable advantages of the state itself. Geographical location on the Iberian Peninsula causes a favorable Mediterranean climate with warm winters and moderately hot summer months. The standard of living in the country is very high, food products are qualitative and inexpensive, and the traditional cuisine is known all over the world and is nicknamed "Mediterranean diet".
However, the question remains open: what gives the Golden Visa of Spain such that distinguishes it from other similar programs? The answer: a wide field for investment activities. In total, there are six options to choose from. The most expensive - the purchase of government bonds. The amount of the deposit starts from two million euros. From one million can be invested in a company with Spanish capital, put on a deposit account in a Spanish bank or "gift" to the state in the form of a non-refundable grant to the National Fund of Spain. It is possible to invest in a business project that would be of interest to the local authorities. The amount required for this is determined each time individually.
However, the most popular way of obtaining a Golden Visa of Spain is the purchase of real estate. More than 70% of residents prefer this option. In order to obtain a residence permit in Spain in this way, the amount of investment should start from 500 000 euros, which makes the purchase of housing the cheapest way to obtain citizenship. In addition, there is an opportunity to buy objects in five years to sell with the preservation of the acquired status, and before that you can rent them out. Commercial real estate also acts as objects. If the selected housing is cheaper than the amount required for a Golden Visa, you can buy several objects, so that their total value corresponds to the required investment minimum.
Important! Buying real estate with the help of a mortgage does not give the right to participate in the program Golden Visa Spain!
The launch of the system of citizenship for investment contributed to the active growth of the Spanish real estate market. Investors rushed to the country to buy houses. The inflated demand predictably led to an increase in prices. Prices showed a jump already in 2014 and since then have been steadily growing by 4-5% annually. Housing in Barcelona and Madrid is in particular demand. It should not be forgotten that the country has a huge line of coastline. Tourists from all over Europe flock to Spanish resorts. Very many of them prefer to rent apartments and villas. This means that owning real estate in resort areas is extremely profitable. In turn, this causes an even greater increase in prices for square meters. With this in mind, investors in the program of residence permit in Spain when buying real estate is important to hurry. Purchased today, in five years it will be much more profitable to sell it: the trend towards higher prices confidently maintains stability.
Citizenship is the final stage of the Golden Visa program. The first stage begins with a residence permit. What are the conditions for obtaining a residence permit in Spain? Basically, they are standard: the age of majority, impeccable reputation (up to the absence of refusals to enter the Schengen zone), financial independence, the presence of a stable legal income and the ability to confirm the legality of the source of invested capital. However, there are a number of special requirements: the presence of valid health insurance in the Schengen area, which will cover the entire duration of residence permit status. Also, the applicant must have investments outside of Spain.
After five years of residence in Spain, the resident has the right to obtain permanent residence status. It is important to remember that if the residence permit itself for investors does not require a permanent residence in the country, then PML — must be all five years to be on the territory of Spain. It is allowed to be absent up to 10 months (in some cases up to 12 months). After another five years, there is an opportunity to obtain citizenship. A prerequisite — knowledge of the Spanish language.
Important: Spanish legislation does not provide for dual citizenship (except for Latin American countries)! When obtaining a Spanish passport, the resident must give up his native one. Otherwise, the authorities have the right to revoke his/her Spanish citizenship.
