Spain
Spain, a member of the European Union with a strong economy and a high standard of living, is located in southwestern Europe and is famous for its rich history, diverse culture, and beautiful landscapes. It is a popular tourist destination, attracting millions of visitors to its stunning beaches, vibrant cities, and historical landmarks. The country is renowned for its delicious cuisine, flamenco music and dance, and world-famous festivals such as La Tomatina and Running of the Bulls.
Foreign individuals can obtain residency in Spain through the Spain Golden Visa program, which grants a residency permit to those making a significant investment in Spanish real estate, business, or public debt. The program, designed to attract investors and entrepreneurs who can contribute to the Spanish economy, create jobs, and promote economic growth, awards residency permit renewable after the initial two-year period. After five years of residency, investors can apply for permanent residency status and citizenship.
Steps and Timeline for Acquiring Spanish Residency and Citizenship Through Investment
- Investment: The first step is to make the qualifying investment in Spain, such as government bonds, real estate, or companies.
- Invest in Spain: Invest €2,000,000 in Spanish public debt securities or €1,000,000 in Spanish capital companies. Alternatively, entrepreneurs may invest €1,000,000 in Spanish investment funds or €1,000,000 in Spanish financial entities. By fulfilling these investment options, applicants can obtain permanent residency in Spain.
- Buy a Property: Investors seeking residency in Spain can purchase real estate valued at €500,000 or more. This investment threshold can include multiple properties.
- Start a Business in Spain: Obtain residency in Spain by launching a new business project that creates jobs and positively impacts the local community or advances scientific innovation.
- Health Insurance: Applicants must hold a valid health insurance policy that covers themselves and their dependents.
- Residency Permit: Once the applicant invests, they can apply for a residency permit in Spain. The residency permit is typically issued within a few weeks to a few months, depending on the type of investment made.
- Renewal: The residency permit is valid for two years. To renew this permit, the applicant must demonstrate that the investment is still in place and that they have spent at least six months in Spain each year.
- Permanent Residency: After five years of continuous residency in Spain, the applicant can apply for permanent residency status.
- Citizenship: After ten years of legal residence in Spain, applicants and their families can apply for Spanish citizenship, which grants them access to the benefits of having a Spanish passport, considered the third strongest passport in the world.
The timeframe for acquiring Spanish citizenship through investment can vary depending on factors like; the type of investment made, the processing times of the authorities, and any additional requirements that may be needed. Overall, the journey to acquiring Spanish citizenship through investment involves making the initial investment, obtaining a residency permit, renewing it, obtaining permanent residency, and finally, applying for citizenship.
Performance Guarantee:
Spain does not provide a formal performance guarantee program for visas or citizenship-by-investment programs. However, applicants for these programs must meet specific requirements and criteria to be approved, such as investing in real estate or creating jobs. Failure to meet these requirements may result in the rejection or revocation of the visa or citizenship. It is crucial for applicants to carefully review the eligibility criteria and consult with qualified professionals to ensure that they meet all the requirements before applying.