Are you searching for an investment option in a foreign country? You can use a Spain golden visa to invest and move to the country. It leads to permanent residency and Citizenship.
This article will explain who is eligible for Spain golden visa, requirements, the application process, validity, FAQs, and more to know.
What is a Spain golden visa?
The Spanish government authorizes non-EU nationals to move to the country through investment. The program gets called Spain golden visa.
If you have sufficient funds and are eligible, you have the opportunity to move permanently to Spain. As the name suggests, it’s a golden opportunity to take advantage of living in Spain.
Are you eligible for Spain golden visa?
If you seek to apply for Spain golden visa, you need to comply with the eligibility principles. As you can stay in Spain for the long term, officials are strict with the rules. They need to know what is the origin of the funds. The eligibility principles are as follows;
Being at least 18 is mandatory to apply for Spain golden visa. The younger applicants need to be dependents of an adult.
A Spain golden visa offers different investment plans. You need to use one of them and provide proof for it.
Having insurance valid in Spain and the entire EU and Schengen Area is a must.
Apart from investing in Spain, you need to have enough funds to cover yourself in the country. The amount will rises if your family accompanies you.
Providing a clean record certificate from your country’s authorities is a must. In case you have lived in a foreign country for at least one year, you need a certificate from that country too.
No visa refusal
You mustn’t have faced visa refusal from a Schengen country. Providing that you have applied for a Schengen visa and have been refused, you will become ineligible.
You may not be on Spain’s list of undesirable people. If so, you are ineligible.
The nationals of the EU, EEA, or Schengen Area don’t need to apply for a golden visa.
What areas can you invest in under a Spain golden visa?
The investments you make in for Spain golden visa needs to be in the below list of categories:
You need to buy real estate for at least €500,000. Buying one, two, or several units does not matter. The general value needs to be half a million EUR.
You can make an investment in Spain’s national debt or public debt. The least amount must be €2,000,000.
Buying a Spanish company’s shares for at least €1,000,000 is another investment option.
You can also invest in a company or business. The investment must create jobs for the Spanish community. The investment must make a significant impact on the technological or scientific sector of the country.
Spain golden visa requirements
The requirements for a Spain golden visa is as follows:
Proof of purchase
You need to provide the ownership proof of the place you have bought. It must be for at least three months before the date of application. A Land Registry must have issued the certificate.
If the Land Registry has not approved your certificate yet, you can provide evidence that the process is underway.
Providing that you haven’t finished the purchase, provide one of the bellow pieces of evidence :
- Preliminary contract
- Down payment
- Availability of the required funds from a Spanish financial institution.
Investment in shares of a Spanish company
You need to provide an investment statement from the Spanish Registrar of Investments. The center is part of the Ministry of Economy and Competitiveness.
A certificate of the financial intermediary is mandatory. You need to get it registered at one of the below options:
- Spanish National Stock Market Commission
- The Bank of Spain.
You need to receive the form from the Spanish embassy or consulate in your home country. Bear in mind that you need a long-stay form.
The officials want your passport to be valid for at least one year. It could not be issued over ten years ago either. Having one blank page is also a must.
You need two identical photos of yourself.
Proof to have enough funds
Apart from the required investment amount, you need to have enough funds to cover your expenses in Spain. You need €2.130 for your won expense and an extra €532 for each dependent.
Having insurance that covers your medical expenses in Spain is a must. Apart from Spain, the insurance must cover your expenses in the EU and Schengen Area.
A medical certificate from a doctor that you have no health issue that poses a risk to the public is a must.
If you are not a national of the country residing in, you need a valid Residence Permit. It must state your stay is legal in the foreign country.
If your family accompanies you, you need:
- Birth certificate for children
- Marriage certificate
- Any other document that proves your family relationship.
Attention: The mentioned requirements for a Spain golden visa are a general list. The Spanish authorities will require further documents. Your case and their decision will decide.
Providing that your original documents are not in English or Spanish, have them translated by a verified translator. Remember that the Spanish embassy or consulate must certify the translation.
Spain golden visa application process
The application process for Spain golden visa is as follows:
1. Are you eligible
It’s a rule of thumb before you begin doing anything. Can you do it, or are you qualified for it? Before you act on Spain golden visa, make sure you can apply for it. You don’t need to cram your head with lots of information. Just read the section above to know everything.
2. Making the Investment
The first step is to choose an investment method. See the part above to know which one is suitable for you. Then you need to make an investment in Spain. You might have to visit Spain to implement your plan. To enter the country, you might need a Spain visa.
You could also get help from a representative, lawyer, or law firm. When you carry out the procedure, gather enough supporting documents that prove your investment.
3. Prepare the documents
At this stage, you need to prepare supporting documents for Spain golden visa. Part of the requirements is related to your investment. You need to collect them from Spain. The other parts are your documents. See the section above to know what they are.
When you collected everything, make a last-minute check. It will boost your confidence that everything is as instructed. You can always ask the embassy about the full list of requirements. They often have such lists on their websites.
4. Schedule a Visa appointment
You need to reserve a meeting with the Spanish embassy or consulate in your home country. If there is no one available, you can find a visa center verified by the Spanish government.
Schedule the meeting through:
- A phone call
- Online, through their website
Keep in mind the date and time of the meeting. You need to get to the embassy on time.
Get the application form for Spain golden visa. You can find it on the Spanish embassy’s website. Complete it with your information. Be cautious about putting the right and true form of information. There must be no contradiction in the provided information.
When you complete the form, print, date, and sign it.
Go to the Spanish embassy or visa center you scheduled the meeting with. Bring all the gathered requirements. Remember that there is no copy service, or “I will go get it” answer to the officials. Make sure you have prepared everything and have the copies.
Submit the documents to the officials. Then pay the fee for visa processing. The fee depends on your nationality and the embassy’s services.
There might be questions about your golden visa and background. Give true answers and explain what you want to do. They might ask about your investment, how you got money and its origin, how you will support yourself in Spain, etc. You would better be prepared and gather as much as information as you can.
7. Spain Golden Visa
After the meeting, the embassy will begin working on your application. It takes time until they evaluate your case. The processing time rides on various elements.
When your visa is ready, the Spanish embassy notifies you to pick it up. They might post it to your address. Now you can move to Spain.
Remember that a Spain golden visa is valid for one year.
8. Residence permit
When you entered Spain, you need to apply for your Residence Permit. Visit the local immigration authorities to know about the application.
The Residence Permit holds validity for two years, yet you can extend it.
What is Spain’s fast-track citizenship?
You need to live in Spain for ten years to become eligible for Citizenship. Yet, the nationals of the countries listed below can apply for Citizenship after two years:
The above list is the former colonies of Spain that can benefit the fast-track citizenship. They needs to comply with the minimum stay requirements to be eligible for Citizenship.
Can you get Spain golden visa by Loan or Mortgage?
The answer is NO. You may not use a loan or mortgage to make an investment in Spain. The investment must be yours, and you need to be the sole owner.
Providing that you buy a property of more than half a million EUR, you can use loans. You can use the loan or mortgage only to pay the extra amount than half a million.
How long can you stay in Spain under its golden visa?
A Spain golden visa is valid for one year. You must apply for a Residence Permit when you enter the country. The Permit is valid for two years, and you can extend it for another two years.
Once you live in Spain for five years, you will become eligible for a Permanent Residency. Remember that you have to keep your investment to extend your Residence permit.
Spain golden visa Extention
To extend a Spain golden visa, you need to keep your investment in the country. Also, you need to stay a limited period in the country set by the government. It is six months every year. You don’t have to live in Spain to hold the golden visa.
Let’s sum up…
If you want to move to Spain permanently, you can do so through the Spain golden visa. It requires you to invest the least funds. You can buy real estate, invest in a company, or other options.
The article explained who is eligible for Spain golden visa, requirements, the application process, FAQs, and many more to know.
If you wish to know more about other types of Spain visa, look at the left sidebar.
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