The golden visa spain is a program that gives foreign investors who invest in the country the opportunity to live and work legally in Spain. The program is similar to Portugal’s investor visa and it allows investors to purchase real estate, invest in Spanish companies or create employment opportunities. It also allows them to deposit money in Spain’s banks or purchase government bonds. The program has been very popular among individuals from countries such as China, Russia, Brazil and India. It has allowed these individuals to avoid language and cultural exams and to avoid a lot of the red tape that they would normally encounter when applying for permanent residency in Spain.
The first step in the process is to make a qualifying investment. This can be made in one of six ways: buying property, investing in a business or company, depositing money in a bank account, buying shares in a Spanish company, purchasing public debt, or founding a project of general interest that creates employment or contributes to scientific and technological innovation. Once this investment has been made, the visa can be obtained in three months. The investor and their family members are not required to live in the country, and they can rent out their investment property if necessary. The visa can be renewed indefinitely, and it is valid for two years.
What are the requirements for a golden visa?
In addition to the qualifying investment, the applicant and their family must have public or private health insurance from a company that is authorized to operate in the country. The applicants must also have adequate financial means to cover their family’s living expenses during their period of residence in Spain. They must also have a criminal record check in their home country and must not have been refused entry into any Schengen zone countries in the past five years. The applicant and their family must also be fluent in Spanish.
After complying with the above requirements, the individual will be issued a visa by the Consulate or Embassy. This initial visa is valid for a year, and during that time they will be expected to fly to Spain and apply in person for their two-year residence permit. The golden visa does not require that the investor or their family members reside in Spain, but they will be required to visit at least once a year in order to maintain their residency.
Once the two-year residence permit expires, the individual can apply for citizenship after ten years of regular residency in Spain (or five years if they are from one of the country’s former colonies). The process is much simpler than obtaining a traditional visa, but it still requires a lot of work and documentation. Individuals who are interested in pursuing this option should speak to a lawyer for more information. They should also be prepared to spend a substantial amount of money. In addition to the application fees for the visa, there will be additional costs for a lawyer, opening a bank account and obtaining an NIE (foreigner’s identification number). In total, these fees are estimated to be around EUR 16,000 for the entire process.