Spain is one of the most appealing countries in Europe and the European Union. Among the reasons that make foreign citizens move here are the warm weather all year round, but also the fact that it connects Europe to other continents, such as Africa and the MENA (the Middle East and North Africa) region. This determines many citizens from these parts of the world to relocate here.
As they are non-EU citizens, one of the most important programs they can benefit from and most importantly was created for them is the Golden Visa program in Spain.
The program comes with several requirements for non-EU citizens, but also with many benefits. Below, our golden visa agents in Spain explain how to obtain such a visa for this country. We also invite you to get in touch with us for assistance in applying for citizenship by investment in Spain.
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Requirements to meet under the Golden Visa program in Spain in 2023
One of the main requirements for accessing the golden visa/citizenship by investment program was mentioned above and that was to be a non-EU citizen. Then, the following are also part of the requirements for buying a golden visa:
- the minimum age of the applicant is 18 (he or she can bring minor dependents),
- the applicant must qualify for one of the specific investments provided by the program,
- as each program requires a minimum amount of money, the investor must have the respective amount,
- the investment must be maintained for a minimum period of 5 years,
- the applicant must submit proof of the legitimacy of the funds and other supporting documents.
- the applicant must have not been denied entry into a Schengen state prior to filing for the Spanish golden visa.
It should be noted that the last requirement has been recently introduced in the scheme. Also, such programs are subject to changes every few years, which is why it is best to ask for updated information from our consultants here.
If you are interested in entering the Golden Visa scheme in Spain, you should know that you will the full attention of our specialists.
We also have agents in other golden visa countries in Europe, such as Italy and Malta, if you are interested in similar golden visa programs.
Financial requirements under the Spain Golden Visa program
One of the most important requirements imposed under the Golden Visa program in Spain refers to having the funds for making the investment. Fortunately, the financial range of this scheme is quite generous which means starting at 500,000 euros and ending at 2 million euros, as follows:
- the minimum amount of 500,000 is required for real estate purchases,
- capital investment of 1 million euros in the form of share purchases is also available,
- another capital investment option of 1 million euros is available in the form of a bank deposit,
- the maximum amount of 2 million euros can be invested in Treasury bonds.
Foreign citizens who want to buy golden passports are advised to choose the investment option based on their knowledge and expertise. In most cases, real estate purchases are chosen by applicants for these programs in citizenship by investment countries like Spain, Cyprus, Greece, and Ireland.
Documents to file in order to obtain a golden visa for Spain
On a general note, the following documents must be prepared in order to apply for a golden visa in Spain:
- the application form (specific forms are available for each type of investment option),
- a copy of the valid passport which alongside two recent photographs,
- medical insurance which must be valid on the entire EU territory,
- the clean criminal record which is mandatory and which must show that the applicant did not commit any crime in the past 5 years,
- proof of the funds to invest with the indication of the source of obtaining them,
- proof of self-sustenance is also required alongside the receipt of paying the application fee.
All applications for the 2023 Golden Visa program are filed with the Spanish Ministry of Interior.
EU residency as a benefit of the Golden Visa program in Spain in 2023
The Spanish golden visa comes with several advantages among which one of the most sought is EU residency. The visa obtained by the applicant will enable him or her to travel to all other golden visa countries and EU states without any restrictions. This is also available for Schengen states, as Spain is also a member of the Schengen area.
For those who want to settle permanently and obtain golden passports in Spain, citizenship is available after 10 years in the case of non-EU applicants. They can also bring close family members to Spain under the golden visa/citizenship by investment scheme in 2023.
Why buy a golden visa in Spain in 2023
One way for people who want to immigrate to Spain to eventually become citizens is through the golden visa. After ten years of lawful residency in the nation, the holder of a valid residence permit may submit an application.
A one-year residence permit that can be extended for another two years and as many times as necessary is given to the holder of a golden visa in Spain. The holder must demonstrate that he is still the owner of the property he originally bought when the application was first submitted in order for the renewal to be approved. You can get more information about this program or about the alternatives to obtaining residency from one of our local agents.
From an economic point of view, 2023 is expected to be a better year than the previous one, so foreign citizens looking for new opportunities can buy a golden visa in Spain if they want to make an important change.
Considering that Spain enables non-EU applicants to relocate here with their close family members, considering buying a golden visa here in 2023 can represent the chance to a new life.
If you are considering the 2023 Golden Visa Scheme in Spain, feel free to send us all your inquiries in order to obtain the necessary information.
If you have any questions or have already decided that Spain is your country of destination, please contact our golden visa agents for support in starting the relocation formalities. We can also support applications in other citizenship by investment countries.