This article on Spain’s Golden Visa programme also known officially as the Spain Investor visa has been written by Sam Daynes of Holborn Assets
In this article, I would like to discuss citizenship and residency through investment in Spain. This has become far more topical since Brexit, and also for person who live outside Europe looking to benefit from the many advantages of living inside the European Union. We can provide comprehensive free help on achieving your dream of living in Spain and furthermore, providing Visa free access across Europe.
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Let’s firstly take a look at some of the key facts on Spain:
Population: Spain has a population of around 50 million over an area of 505,370 km2. The country’s population density is just below 91 people per km2.
Currency: The euro is the official currency since it replaced the peseta in 2002.
Capital City: Spain’s capital and largest city is Madrid. The estimated population of Madrid is an estimated 3.3 million inhabitants, with 6.6 million living within the metropolitan area.
Languages: Spanish is the only language of the country. Dialects of Spanish exist in specific territories including Basque, Valencian & Galician.
Climate: There are three climate zones in Spain. In the east and south, it is a typical Mediterranean climate. The weather in the central Meseta area is continental, while in the north and west it is maritime.
GDP: Spain has a GDP of nearly $1.3 trillion and is the 13th largest economy in the world.
So what are the benefits of having a second residency in Spain:
Living standard quality: Spanish residency provides a high standard of living, with low costs for goods and services.
EU citizenship: The country’s residency by investment programme can lead to citizenship after 10 years of residency if required.
Travel requirements: There are two places to obtain a Spanish residency card. You can either obtain it from a selected number of police stations or at the Spanish embassy located in your country. You can request Spanish Residency either in person or through a legally authorised person with power of attorney.
Visa-free travel: The Golden Residence Programme in Spain grants visa-free access within the 26 members of the Schengen zone.
Education: Spanish residency gives you access to high standards of schooling, as well as access to many prestigious universities at lower EU tuition fees.
Healthcare benefits: All residents have access to the Spanish public healthcare system, which is ranked the 7th best in the world.
So lets look at some of the frequently asked questions on obtaining a Spanish Golden Visa and what that exactly entitles you to.
WHAT IS THE SPAIN GOLDEN VISA? The Spain Golden Visa, officially known as the Spanish Golden Visa Program, is a residency by-investment program introduced by the Spanish government in 2013. It aims to attract foreign investors and stimulate the Spanish economy by offering residency permits to non-European Union (EU) citizens who make a significant investment in the country.
WHO CAN APPLY FOR THE SPAIN GOLDEN VISA? Anyone can apply for the Golden Visa. There are no restrictions on who can apply, but you and your family need to fulfil specific requirements to be eligible for the program.
WHAT ARE THE INVESTMENT TYPES?
- Real Estate Investment: Investing a minimum of €500,000 in residential, commercial, or industrial properties in Spain.
- Capital Investment: Investing a minimum of €1 million in Spanish company shares, investment funds, or bank deposits.
- Public Debt Investment: Investing a minimum of €2 million in Spanish public debt, such as government bonds.
- Business Project Investment: Making a significant investment in a Spanish business project that is deemed of general interest. The minimum investment amount varies based on the project and its economic impact.
DO I NEED TO LIVE/STAY IN SPAIN TO MAINTAIN MY RESIDENCY? In the Spanish program, there is no visitation or minimum stay requirement.
WHAT TYPE OF PROPERTY CAN I INVEST IN? Of the Real-Estate option, you can invest in any type of property: residential, commercial space, industrial, parking spaces; in one or more, or the combination of any that add up to the minimum of €500,000. However, we have introduced a scheme that allows you to obtain this visa for as little as 350,000 EUR into property, which also includes a guaranteed buy back option. This a unique offering we have introduced, so please contact me for more detail.
CAN I INVEST IN MULTIPLE PROPERTIES? Yes, particularly for the Spanish program you can invest in as many properties as you like, and as many types of properties as you like.
WHAT ARE THE MAIN BENEFITS? You become a member of the EU. Visa-free travel through the Schengen area No minimum length of stay Eligible for citizenship after 10 years (and in 2 years for those from Ibero-American countries & former Spanish colonies) Good quality of life Affordable cost of living You can live, study and work in Spain Fast-track application.
I LIVE IN SPAIN AND I WANT TO TRAVEL TO A NEIGHBORING COUNTRY. DO I NEED A VISA? No. One of the benefits of the Golden Visa is that you become a resident in Spain, and you are allowed to travel within the Schengen area without applying for another visa.
CAN I APPLY FOR PERMANENT RESIDENCY? After residing in Spain for at least five years, Golden Visa holders can apply for permanent residency.
CAN MY FAMILY BENEFIT FROM MY RESIDENCY PERMIT? Yes. The Spain Golden Visa program includes family members: spouse, minor children, dependent parents, and dependent children of the main applicant.
HOW CAN I OBTAIN THE SPANISH NATIONALITY? There are multiple ways to obtain Spanish nationality. There is a two-year path to citizenship for Ibero-American countries, as well as for former Spanish colonies. Everyone else takes about ten years. Continuous residence for a certain amount of time is one of the requirements, subject to additional criteria, such as language proficiency and cultural integration test. With Holborn’s guidance, the process is a lot simpler.
By becoming a Spanish Golden Visa holder, there are so many unique benefits that you can enjoy. The recent closure of the Portuguese Golden Visa programme has left many people looking for other options to obtain the same benefits that this option provided. With the restraints of Brexit and the difficulty for people outside of Europe, the ability to have visa free travel throughout the Schengen area is incredibly desirable. We have a team who specialise in obtaining this visa and have introduced a unique offering whereas this visa can be achieved for as little as 350,000 EUR and incorporates a buy back option to ensure complete security in your investment.
If you would like to discuss this further, please book in for a free chat clicking the link below:
About the Author
Sam Daynes has been a financial adviser for over 23 years and currently works at Holborn Assets in Spain.
He has worked for some of the leading financial institutions, both in the UK and offshore. He fully understands the complexities involved with all aspects of financial planning and is dedicated to ensuring that clients are informed of the best solutions to meet their needs. Furthermore, he understands the importance of maintaining these client relationships, so that the needs and requirements of his clients continue to be met in an ever-changing world.
Having relocated to Spain from Bristol in 2017, he has studied and enhanced his knowledge to fully comprehend the solutions available in all EU countries. He now works as a Senior Associate for Holborn Assets at our Spanish office.
His knowledge of the Financial Sector includes tax planning, investment, savings, retirement, property and financial planning.
He has a Level 4 Diploma in Professional Financial Advice (DipFA through the London Institute of Banking and Finance LIBF). He has also achieved the full CeMAP (Certificate of Mortgage Advice and Practice).