0:00 – Introduction
In this video, we will introduce the Spain Residency by Investment program, also known as a Spanish Golden Visa.
0:26 – About the Spanish Golden Visa Program
The Spanish government passed a law in 2013 to launch the residency by investment program.
To be able to apply for this program, you should be at least 18 years of age, in good health, and without a criminal record.
In addition, you are required to make a real estate purchase, invest in debentures or shares, or launch a business project in the country.
0:50 – Investment Options
There are several options to choose from to qualify for the Spanish residency by investment program.
The first option is to make a real estate purchase worth at least 500,000 euros. Additionally, there are property transfer taxes which are 10 percent of the property price. You are also required to pay the annual property taxes, which can change based on the property location.
The second option requires you to either invest a minimum of 2 million euros in government bonds, or a minimum of 1 million euros in company shares or bank deposits.
The final option is to launch and run a business project in Spain which is of interest to the Government and is worth at least 1 million euros.
In addition to the minimum investment options, there are government fees and professional fees that apply.
1:46 – The process of obtaining a Spanish Golden Visa
The process for acquiring a Spanish residency by investment is divided in 5 steps over a period of 2 to 3 months. Please note that the process can vary, depending on your choice of investment. Due to the popularity of purchasing property, we will mainly focus on the process of this investment option.
1. We will do an initial background check to make sure you are qualified to apply to the program. If you pass the qualification process, a down payment of our professional fees is required to start working on your application and move to the next step.
2. Our team will assist you with the collection of all documents required by the government.
3. We will present you with Spanish properties that match your requirements and start preparing the property purchase documents required for the residency application.
4. You are required to visit Spain to open a bank account and purchase your property. Once the purchase is finalized and the property taxes are paid, we will submit your application.
5. After the government has approved your application and the balance of our professional fees are settled, you will obtain a temporary residence card. This residence card is valid for 1 year, but can later be renewed for longer periods, as long as you keep the real estate investment.
(Optional) If you wish to obtain a permanent residency, you are required to live for at least 4 years and 2 months within 5 years. Furthermore, to apply for a citizenship, you are required to have continually lived in Spain for at least 10 years after obtaining for your first residency.
3:21 – Benefits of the Spanish Golden Visa
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. Additionally, the Spanish passport allows for travel to over 185 countries and territories including the European Union, Singapore, The United States and Hong Kong.
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.
Spain also allows dual residency, so you can keep your existing nationality or other residencies. However, Spain does not allow for dual citizenship with some exceptions.
4:03 – FAQs
1. Can I include my family?
Yes, you can include qualified members of your family in the application or add them after you have obtained your citizenship for an additional fee. A qualified family member can be a child not older than 18 years, an older child that is financially dependent, and a spouse.
2. Are there any interviews, language tests, or work experience requirements?
To apply for the residence permit, there are no interview, language test or work experience requirements. However, if you choose to apply for citizenship in Spain, you are required to take a basic language test.
3. What if I get rejected?
Savory & Partners will assess your eligibility before submitting your application. Anything that might cause issues in the process will be explained to you before any action is taken. Once your file is submitted, the Government will conduct their own assessment.
4. Can I live, work or study in other European Union or Schengen countries?
After obtaining your golden visa, you can only live, work or study in Spain. However, if you apply and obtain a Spanish citizenship, you will have the right to live, work or study in any country which is part of the European Union.