The golden visa program allows non-EU citizens and their families to get residency permits in Spain. These permits are valid for three years and can be renewed. However, there are a few requirements you should be aware of before applying.
The leader of Spain’s left-wing Mas Pais party, Inigo Errejon, has urged the government to end the scheme. He argued that it had caused a “brutal increase” in property prices and forced residents out of their neighbourhoods.
Real estate investment
The golden visa program offers residency for foreigners who invest at least 500,000 euros in Spain. The investor and his or her family can obtain a residence permit that can be renewed after five years. They can also apply for citizenship after ten years.
The program is one of the most popular ways for non-EU citizens to acquire a European passport. It was introduced in 2013 to make the Spanish economy more competitive, boost foreign investment and local job creation. Since its launch, the programme has become an international benchmark for investment immigration programs.
The visa has become a magnet for investors from China and Russia, but it has also attracted “dark money,” according to the leader of the left-wing Mas Pais party. He warned that the visas were encouraging speculation in property prices and pushing local people out of their neighborhoods. He added that the government should either raise the minimum investment or abolish the scheme altogether.
The Spanish Golden Visa scheme is a form of residency-by-investment programme that allows non-EU citizens to acquire residence in the country by investing at least EUR500,000 in real estate, or alternatively invest in an enterprise project considered of general interest. The scheme also provides pathways for permanent residence and citizenship.
Spain is an excellent location for business investment, with a highly skilled workforce and low property prices. The country has an established infrastructure and a well-managed healthcare system. The country is also a gateway to Europe and offers many opportunities for international business.
There are various investment options for the Spanish Golden Visa, including unlisted shares and bank deposits. The applicant must provide documentation of the investment, such as a certificate of property registration and purchase deeds. In addition, he or she must submit a criminal record certificate from the ACRO and sworn translation into Spanish of any family bond documents. Once the investment has been made, the investor will receive an initial residence permit for one year, which can be renewed in two-year increments.
Investment in government bonds
The golden visa program allows non-EU citizens and their families to invest in Spanish real estate, government bonds or shares of local companies. They can also purchase units of investment funds or business projects and deposit money in Spanish banks. In addition, they are not required to take language and cultural exams.
Applicants who choose to invest in property must submit a certificate of domain and encumbrances from the Land Registry and deeds of the properties purchased. Those who invest in public debt must present a certificate from the Bank of Spain showing that they are the sole holder of the investment. If they invest in shares of Spanish companies, they must provide a statement from the company and the certificate issued by the Financial Institution or the Bank of Spain that reflects their ownership.
After ten years of residence in Spain, the investor can apply for permanent residency and eventually citizenship. However, they must give up their first passport.
Investment in a company
The Spain Golden Visa program allows foreign investors to buy real estate, invest in a company, deposit money in banks, or purchase Spanish government bonds. It also offers its beneficiaries visa-free access to Europe’s Schengen Zone and a path to citizenship. The program has been popular among investors from Latin America, China, and India.
In order to qualify for a Spain Golden Visa, an investor must make a minimum investment of €500,000 in real estate. The investment must be made through a legally recognized entity or fund. Moreover, the investor must hold the majority of shares in the entity. Furthermore, the investment must be a legitimate enterprise that will create jobs and contribute to scientific and technological development.
The Spain golden visa is valid for three years. Applicants may renew their visa telematically with one of the lawyers. This way, they avoid paying consulate fees of more than 900EUR. However, if the applicant wants to continue living in Spain, he or she must submit all documents.golden visa program spain