What is the Investment Program for Spain?
Spanish Government created investment program by the Law 14/2013, of the 27th of September and which enables foreign investors from non-EU countries to obtain a residency permit in Spain.
What are the conditions of application for the Investment Program?
Investors may apply for the Investment Visa under the conditions that they make one of following investments:
- Acquisition of property: Investors which acquire real estate in the amount of at least €500,000 EUR may apply for the Visa.
- Making an investment of €2.000.000 EUR in Spanish bonds,
- Making an investment €1.000.000 EUR in shares of Spanish companies.
- Paying a deposit of €1.000.000 EUR in Spanish bank account.
General requirements for all investment types are as follows:
- Keep the investment for a minimum period of 5 years
- Permanent residence after 5 continuous years (with a maximum of 10 months absence or 1 year for work)
- Funds for investment should come from abroad
- Entry in Spain with a valid Schengen visa
- Absence of conviction of relevant crime
- Have sufficient economic condition to meet personal and family living expenses
How long does the process take?
Application process for initial visa 10 days, residence permit 20 days.
What are the advantages of this Program?
Key advantages of this residency program are;
- Investment Visa holders do not need to obtain a visa to enter in Spain and to travel in the Schengen Area
- Opportunity for living and working in Spain, even with residency in a different country
- Visa holders may obtain permanent residency after 5 years and citizenship after 10 years
Ketenci&Ketenci is a leading international law firm advising on global citizenship. Please contact us for further details on Spanish Golden Visa and apply to Spanish residency permit and to obtain Spanish citizenship.
FREQUENTLY ASKED QUESTIONS IN RELATION TO SPAIN & SPANISH RESIDENCY
Why choose Spain?
Spain is definitely one of the most beautiful countries in the world thanks to its magnificent climate, unending history, delicious kitchen and last but not least its colorful culture with its colorful society. With its optimal tax rates, Spain is chosen by lots of investors every year.
Do I have to travel to Spain during Residence Permit procedures?
Yes, one of the main requirements is to Spain legally.
What are the visa-free travel opportunities for citizens of Spain?
Owners of Golden Visa can free travel to almost 190 countries, including Hong Kong, US, United Kingdom, Latin American and of course EU Countries.
Is Spain a tax haven for investors who consider choosing Spanish Golden Visa Program?
Definitely not. Spain is one of 2 countries which implements taxation to global income of its citizens. However, investors should note that Spain provides some advantageous tax incentives and business opportunities in order to draw foreign investments into country. Therefore, though it requires some meticulous calculations, it is possible to decrease Spanish taxation to favorable levels.
Is it possible for several investors to apply for Spanish Golden Visa based on a single property?
Surely. As indicated above, minimum property investment for main applicants has been specified as EUR 500.000, this means so long as main applicants make such amount of property investment, different investors will be able to obtain Spanish Residence Permit depending on only one real estate.
Is there any official legislative text regulating Spanish Golden Visa Program?
Yes. Spanish “Golden Visa” Law, namely Law 14/2013 of Support for Entrepreneurs and Their Internationalization is the fundamental legal text with regards to Spanish Residency by Investment program, which presents several options for investors in order for them to become residents of this Iberian country.
Do you offer properties from Spain?
Yes. We would be happy to provide you to our specialist property advisors who would assist you to find high quality properties either commercial or residential, from a wide range of options which is convenient for Spanish Golden Visa applications and also complies with your personal priorities.
How many family members can apply for residency along with the Main Applicant?
Spouse and dependent children can apply with the main applicant.
Is there any language requirement to apply for Portuguese Residency?
No, applicants do not have to take any language test.
What is Siesta ?
Siesta is an interesting tradition of Spain; there is a long break of two to five hours. During siesta hours, most businesses are closed. Spaniards enjoy to have a nice break in the half of the day.
Are there good universities and schools in Spain?
Eucation is free and mandatory in Spain for between 6 to 16 ages-children. Literacy rate is over %95 of the population. There are also lots of attractive and ancient universities like Complutense University of Madrid, the University of Barcelona, the University of Granada, the University of Sevilla, the University of Salamanca, the University of Valencia.
Which are the main sectors in Spanish economy?
Spain has a very large automotive industry. In addition, energy, tourism, science and technology and agriculture are the other important sectors in Spain.