Spain is one of the European countries which have enabled golden passports for a few years now. Those interested in buying a golden visa in Spain can obtain it through the Golden Visa Residency Scheme based on which Spanish citizenship can later be acquired. There are several conditions that must be met in order to become a Spanish citizen by investment.
Below, our team of lawyers in Spain explains the conditions imposed under the Citizenship by Investment Scheme in this country. We specialize in helping foreign citizens who want to relocate to other countries through specific residency and citizenship programs.
Investment options for non-EU citizens in Spain
Spain is one of the countries that offer foreign citizens seeking to relocate to Europe through investment several options. Among these, non-EU citizens can apply for entrepreneur visas and golden passports for Spain.
Each program comes with its requirements, however, the golden visa program remains one of the most attractive. Under this scheme, a non-EU citizen will first obtain residency followed by citizenship by investment in Spain.
Foreign citizens seeking to buy a golden visa that allows them to obtain EU residency will find Spain very attractive from this point of view.
The conditions for entering the Golden Visa Program in Spain in 2021
In order to take advantage of the Citizenship by Investment Program in Spain, the following conditions must be respected:
- the applicant must be a non-EU citizen who has reached the age of 18 at the time of the application;
- in order to be accepted into the program, the applicant must have a clean criminal record;
- the candidate must prove he or she has good health and must obtain medical insurance prior to the application;
- the candidate must also submit proof of being able to support themselves during the stay in Spain.
Apart from these conditions, specific investments must be made in order to obtain a residence permit and then citizenship in Spain in 2021.
Our immigration lawyers can also support those interested in other citizenship by investment programs in other countries such as Italy, Cyprus, Portugal or even the United States of America.
Investment requirements under the Spanish Citizenship by Investment program
As mentioned above, the candidate for citizenship by investment in Spain must first become a resident of this country based on a specific investment. There are several options for foreign candidates interested in this program in Spain. They can choose one of the following types of investments:
- purchase a real estate property anywhere in Spain as long as it is valued at 500,000 euros;
- open a Spanish bank account in which a deposit of 1 million euros will be made for a period of 5 years;
- invest 1 million worth of shares in one or more Spanish public or private companies for a minimum period of 5 years;
- invest at least 2 million euros in Treasury issued bonds for at least 5 years.
Additionally, the candidate must live in Spain for the duration of the program. Following that, the successful applicant will be allowed to obtain a Spanish passport by investment.
Often compared to the Citizenship by Investment Program in Portugal, it should be noted that the Spanish Golden Visa Scheme offers a wider variety of investment possibilities.
Obtain Spanish citizenship by investment by business
Foreign citizens who want to obtain citizenship by investment in Spain have the choice of buying listed and unlisted shares, but also shareholdings in Spanish companies. The minimum amount of money required for such an investment is 1 million euros. The residence visa attached to this type of investment has a validity of 1 year, followed by the issuance of a residence permit with a validity of 5 years provided that the investment is kept. Compared to the other investment options, the successful applicant is not required to live in Spain but is required to visit the country at least once a year. The investor can also include in the application the spouse and dependent children.
After the 5-year temporary residence permit, the investor will be granted permanent residence and the possibility of working in Spain. After 10 years, Spanish citizenship by investment is permitted, however, certain conditions must be met. Among these, we mention the following:
- the permanent residence holder and family members must renounce their previous nationality;
- the candidate must have a clean criminal record and be able to financially support him/herself;
- the applicant must attend an interview and prove his/her integration in the Spanish society;
- the knowledge of the Spanish language, culture and values must also be proved.
Nationals from non-EU countries can be eligible for citizenship after 2 years or legally living in Spain. Among these, citizens of certain South American countries and the Philippines.
If you need more information on the conditions for obtaining citizenship by investment in Spain, feel free to ask our agents on the golden visa program.
You can read about the advantages of obtaining citizenship by investment in Spain below:
Documents required for Spanish citizenship by investment
The following documents need to be prepared when applying for Spanish citizenship by investment:
- the application form;
- two passport-size photos;
- a passport copy (the passport must have a 6-months validity);
- an insurance policy;
- a clean criminal record for the past 5 years;
- proof of financial sustenance and investment;
- the receipt of paying the fee for the visa application.
We can also advise on other golden visa countries.
Access to EU citizenship through the Spanish Golden Visa Scheme in 2021
Obtaining Spanish citizenship by investment grants automatic right to EU citizenship which is one of the main reasons for choosing Spain for such a program. However, Spain is not the only country to offer access to the EU and the Schengen area.
Our golden visa specialists can make various recommendations to those interested in obtaining EU citizenship or access to other golden visa countries.
The Spanish citizenship by investment scheme offers several options to non-EU wealthy citizens, among which the possibility of moving here by investing in real estate, by setting up a business through which job creation is mandatory or by purchasing financial instruments approved by the Spanish government. It is also possible for the investor to deposit 1 million euros in a local bank account.
No matter the choice of investors, it is important to note that in the first stage they will receive a residence by investment followed by citizenship by investment.
Bringing family members to Spain
An advantage of the citizenship by investment scheme in Spain is the possibility of bringing family members here. These too will obtain temporary residency followed by permanent residence visas. Another benefit of obtaining residency by investment here is that there is no requirement related to the minimum period of living here. The Spanish immigration authorities, through the Ministry of Internal Affairs, will issue residence card with a validity of 2 years. The card must then be renewed after 5 years.
An important aspect to consider is that the applicant is not required to live in Spain during the 2-year validity period of their residence cards if they do not seek to obtain permanent residence and citizenship by investment here. If they do, living in Spain becomes a mandatory condition.
You can count on for details on current citizenship by investment countries.
The advantages of the Spanish Golden Visa Program
Those interested in the Citizenship by Investment Program in Spain will be glad to know that they have many advantages if they are accepted by the authorities. First of all, they will obtain the right to live and work in one of the sunniest and beautiful European countries. They will also be allowed to bring their families and live together here for 5 years.
Under this program, successful candidates will obtain permanent residency followed by Spanish citizenship. They will be able to travel freely in other EU countries meaning they will no longer need to apply for visas when exiting and entering Spain.
An important benefit of the Golden Visa Program is that a foreign citizen is allowed to purchase a property in any part of Spain, an advantage that is not available for all those moving here under usual circumstances.
Even if the foreign citizen has a nationality, they will also be entitled to Spanish citizenship, as this program allows for dual citizenship. The candidate, however, must pay attention to the regulations imposed in their home country.
If you are interested in citizenship by investment countries, you should know that you will the full attention of our specialists.
Assistance in relocating to Spain through the Golden Visa Scheme
Accessing citizenship by investment program requires a lot of preparation. It implies preliminary assessments and final reviews from the Spanish authorities which is why requesting the help of specialized immigration lawyers in Spain is mandatory.
Our team of lawyers in Spain can help those interested in acquiring a Spanish residence permit following by citizenship with the preparation and filing of all the documentation required by the authorities, including with advice on the mandatory conditions which need to be fulfilled as an investment.
The 2021 Spanish golden visa comes with numerous advantages among which one of the most sought is EU residency. This is why if you want to apply for such a program, you can rely on our specialists.
If you have any questions about citizenship by investment in Spain in 2021, feel free to ask our agents.
Do not hesitate to contact us for an initial consultation related to your plan of coming to Spain by buying a golden visa. We remind you that we are at your disposal with personalized services related to obtaining residency and citizenship in countries in which such programs are enabled.