The country’s fast developing economy and access to the Schengen area make Spain an ideal relocation destination for families, as well as businesses. The country offers a European standard of living including high standards of education and health care. Spain has been a member of the EU and in the Schengen area.
Though Spain does not offer a typical “Citizenship by Investment” program, it does offer what is known as the “Golden Visa” program. The Golden Visa program is like any other investor visa program, wherein, the investor or applicant gains the right to become a resident in Spain and enjoy the high standard of living it has to offer.
There are several benefits to the Golden Visa program.
- A path to permanent residency and eventual citizenship. Applicants can apply for permanent residency after living in the country for a period of 5 years under the investor visa program. Once they obtain permanent residency, the next step is citizenship.
- The investment required to qualify for the visa is just €500,000.
- Investors/applicants who reside in the country for less than 183 days in a year are not required to pay taxes.
- Dependents are covered under the program.
- Spain is one of the most popular tourist destinations in the world. Called the “California of Europe”, it is home to pristine beaches, tantalizing coastlines, and a vibrant culture. It manages to attract over 70 million tourists every year, which puts it in 3rd place on the list of “World’s Most Visited Countries”.
- Spain is also recognized for its robust economy. It is considered as a country with a high-income economy and tremendous human development. It ranks number 10 in the world in regard to quality of life. 70% of the economy is based on the service sector. The remaining 30% is supported by agriculture, construction, fishing, and farming.
Aside from the actual investment, there are a few other requirements that investors/applicants are expected to meet.
- The applicant/investor must be a non-EU national. The program is typically aimed at wealthy investors from Asia, Africa, and the Middle East.
- The applicant/investor must 18 y/o or above.
- They applicant/investor must have no criminal record. They must submit the necessary evidence to prove this, such as a police record.
- The applicant/investor must possess enough financial assets to support themselves and, if applicable, their families during their tenure as temporary residents. They must also prove this with the necessary documentation.
- The investor must be in good health and possess medical insurance. They must also submit proof for this in the form of relevant documentation.
There are 4 investment options that are listed under the Golden Visa program.
- Real estate purchase
The investor/applicant must purchase a piece of property in Spain. The property must be valued at €500,000 or more.
- Bank deposit
The investor/applicant must deposit €1,000,000 in a bank account that is opened with a Spanish bank. The amount must remain untouched for a period of 5 years.
The investor/applicant must invest €1,000,000 in shares (non-trading or publicly traded) belonging to a Spanish company for a period of 5 years. The investor/applicant is allowed to split the investment between multiple companies.
- Treasury bonds
The investor/applicant must invest €2,000,000 treasury bonds (Spanish). The bonds must be held for a period of 5 years.
Make Spain your second home
GDP nominal (per capita)
GDP (purchasing power parity)
Service industry, tourism
- Member of the EU and Schengen area
- Fast developing economy
- Aimed to support entrepreneurs investing into Spain
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