Rasheed Alkhanji QICMS
Published 02:00 PM 29 December 2021
Updated 11:09 AM 2 January 2022
Spain is the second most visited country in Europe. Best cuisine in Europe, especially the Tortilla Espanola, Paella , Pisto ,and other traditional foods have added the value of a journey to Spain. Spain is the home of La Liga, a popular soccer (or fútbol) league, so whether a Barca fan, a fan of Real Madrid, or just want to join the passionate soccer culture, Residence by Investment in Spain is a must for you.
In this blog, you will you'll learn six (6) points about the Spain Residence by Investment Program.
1. WHAT IS SPAIN RESIDENCE BY INVESTMENT PERMIT?
Spain Residence by Investment Permit (also named as Golden Visa for Spain) is a document that allows you to reside in the country for a period, depending on your conditions. The status of a Spain Residence by Investment Permit must be renewed on a regular basis to keep it valid. The Spain Residence by Investment Permit allows you to enter the country at any time, buy real estate, and enroll your children in a school. Also, you will be able to visit other Schengen countries without a visa for up to 90 days every six months.
2. WHAT ARE THE BASIC REQUIREMENTS TOWARDS OBTAINING RESIDENCE IN SPAIN BY INVESTMENT?
Under the Spanish Golden Visa program, the main applicant must be at least 18 years old, possess no criminal antecedents, and have health insurance in Spain. When it comes to investment, the applicant is usually required to make investments in real estate in Spain; the minimum amount being EUR 500,000. However, there are other alternative routes recognized under the program.
3. WHAT ABOUT YOUR DEPENDENTS?
The Spanish Golden Visa program includes family members. Once you make a successful application, the program will cover your spouse, children under 18 years of age, dependent children under 26 years of age, and your dependent parents.
4. WHAT BENEFITS YOU GET OF RESIDENCE IN SPAIN?
a) No residence requirement unless you want to acquire citizenship in the future.
b) Visa-free entry to the Schengen area.
c) Residence permits for all family members.
5. HOW TO OBTAIN THE CITIZENSHIP OF SPAIN THROUGH INVESTMENT?
Having resided in the country for ten (10) years, the applicant and the family are eligible to apply for the citizenship of Spain. To do so, they will have to prove their permanent residence in the country (183 days a year and it’s not allowed to be absent for more than 6 months in a row) and prove their knowledge of Spanish.
Remember, the Golden Residence Permit Program is not directly linked to the Spanish citizenship but does not restrict the right of the applicant and his/her family members to receive one.
6. WHAT DOCUMENTS YOU NEED TO SUBMIT WITH THE APPLICATION?
a) The application form duly filled-in and signed.
b) Copy of the complete passport in force, and, if applicable, that of the applicant’s relatives.
c) Proof of sufficient economic resources for the applicant and his family members during their period of residence in Spain, which may be justified.
d) Documents proof of the investment.
e) Have a public or private health insurance with an insurer company authorized to operate in Spain.
f) Criminal records.
g) Birth Certificate.
Invest in Spain and Get the Residence Permit. QICMS can help you secure your Spanish Golden Visa with less hassle.
For more information about the Spanish residence permit program or how to choose the best investment program, and for all other queries pertaining to the Spain Residence by Investment Program application process, please contact us.