Residence in Spain by Investment
Government investor program
About the program
In September 2013, the Spanish Parliament launched the program enabling foreigners to obtain Spanish residence by investment. It is possible to choose between the following investment options: government bonds worth EUR 2 million, a bank deposit worth EUR 1 million or property worth EUR 500,000.
Key concept of the program: applicants either invest in real estate or government bonds or deposit funds on bank accounts. As a result, they obtain residence permits in Spain for all their family members.
To obtain residence in Spain, you do not need to speak its official language or study the history of the country. Also, there is no requirement towards physical residence in Spain.
Basic requirements towards obtaining Spanish residence
Residence in Spain
General requirements towards the investor
- 18+ years of age
- No criminal record
- Making a foreign investment (i.e., from outside Spain)
- Health insurance
- Stay in Spain for seven days a year
Spanish residence can also be obtained by:
- A spouse
- Children under 18 years of age
- Dependent children under 26 years of age
Children above 18 years of age must be dependent on the investor.
Investment options for obtaining residence in Spain
Procedure for obtaining residence in Spain
Selecting an investment option
At this stage, it is necessary to decide on the investment option. This will determine the future steps towards obtaining your Spanish residence permit.
We will provide you with an inclusive overview of each option to help you make the right decision.
We will offer you a real estate portfolio for preliminary evaluation in accordance with your requirements (area, property type – commercial or residential real estate, etc.). Working with fifteen major real estate agencies in Spain, we will be able to offer you the widest selection of properties to choose from.
We will organize and accompany your trip to Spain to view the properties. We will also open a bank account in one of the Spanish banks to facilitate the property transaction and pay the program fees.
Our lawyer will supervise the property deal as well as notarize the necessary documents and application forms.
Preparing the papers
Filing the papers and their review
During the first stage, you will get a resident visa enabling you to enter the country. The visa gives you the right to live and work in Spain as well as travel the Schengen countries visa-free for one year. Resident visa is attached to the passport of the applicant. Reviewing visa applications takes ten to fifteen days.
*As of August 2015, an investor who already holds a valid permit enabling him/her to be present on the territory of Spain (for example, a Schengen visa) should not pre-apply for Spanish residence visa. He/she can apply for a residence permit directly.
Obtaining residence permits
During the second stage, we will file the application requesting Spanish residence permits for you and your family. Residence permits are usually valid for two years and can then be extended for another five years.
Both you and your family members will be issued resident permits with biometric data. Application for a residence permit is reviewed within twenty days upon its submission.
Benefits of residence in Spain
Comparing options for obtaining residence in Spain
|Traditional residence||Residence by investment|
|Period for obtaining citizenship||10 years||10 years|
|Residence requirement||183 days a year||0 days a year|
|Likelihood of refusal||High||Low|
The first residence permit is issued for a period of one year (if applied via the consulate) and is then extended for two years followed by another two years.
Permanent residence in Spain
An investor can apply for a permanent residence and citizenship following the usual procedure. Having resided in the country for five years, the applicant is entitled to apply for a permanent residence.
To do so, the applicant will have to confirm his/her permanent residence on the territory of the country. The applicant must prove that he/she did not leave Spain for more than 10 months during the past 5 years (or 12 months in case it was necessary to carry out his/her professional duties).
Citizenship of Spain
Having resided in the country for ten years, the applicant and the family are entitled to apply for the citizenship of Spain. To do so, they will have to confirm their permanent residence in the country (183 days a year and it’s not allowed to be absent for more than 6 months in a row) and prove their knowledge of Spanish.
A 10-year period may be reduced to 2 years for the citizens of Latin American countries. The Golden Residence Permit Program is not directly linked to the Spanish citizenship but does not restrict the right of the applicant and his/her family members to receive one.
Dual citizenship in Spain
Spain does not recognize dual citizenship, with the exception of a few Spanish-speaking Latin American countries. While applying for a Spanish citizenship, one will have to renounce all other citizenships he/she holds.
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