Alternative options are investing 500 000 EUR in Spanish real estate or 1 to 2 million EUR to bank deposits and investments to debts and shares of Spanish companies.
This program is supported and carried through Spanish law, known as Golden Visa program, but officially called Investors Residence Law. The aim of the program is to get investors to invest their money in country to further develop it and create better environment to all citizens. These kind of programs are quite popular in Europe as other countries offer same Golden Visa opportunities to develop and grow their countries. Spanish Golden Visa program is needed for non-European investors that do not live in Europe. The gain of residence permit will grant access to European Union member states.
Overall Spanish Golden Visa program is a great alternative to person who wants to gain residence permit but also has desire to invest in countries. Europe has a wide range of opportunities regarding gain of residence permit and mostly this program has gotten great results and raises interest, overall well-being and entrepreneurship that creates more jobs and workplaces.
Investor requirements
There are some special requirements for the investors that desire to gain residence permit by investments in Spain. First is that investor should be of legal age (18 and more years) and not hold any criminal charges or have bad criminal record. This is the basics of the investors background check. Another criteria is having the access to medical insurance and have good financial stability and income.
As for the documents required to give out together with application, they are passport, Property Registry certificate, proof of investment, like bank statements, at least two photos, proof of the financial background. In case investor desires to bring family to Spain, they have to apply to the program by submitting marriage certificate, birth certificate of the kids, medical insurance proof of the family members and proof of no criminal records of the family members.
The advantages of Spanish Golden Visa program
One of the biggest advantage to Spanish Golden Visa program is the opportunity to live in European Union and have the access to European Union member states. Nowadays Europe is the top place to be in when it comes to business or being an entrepreneur. Golden Visa program is a great choice if the investor has other projects as the program requires to be in Spain for one day per year to keep the residence permit. There is also no need to become Fiscal resident of Spain which in some cases is a great option.
The advantage to these programs is the option to take family to live in Spain as the Spanish Visa program offers to take family members with the investor. It depends on the children age group as the small children that are dependent on their parents or kids under 18, they can opt for the pass for residency and option to enroll in Spanish schools. Adult kids that are over 18 have to prove their financial dependency to the Golden Visa applicant.
The investment in assets of Spain
As the investor must invest in some asset to gain residence permit, the options are made wider to suit every investor’s needs. The fist way to invest is by at least 2 million EUR investment to Spanish Treasury bonds. Other way to invest is investing 1 million EUR in shares of one or more Spanish companies that have publicly declared their shares are for sale in trade market. Another way is making a deposit of 1 million EUR in Spanish bank accounts.
Real estate is a great way of investment and one of the possible investments are 500 000 EUR per applicant that buys a real estate in Spain. Lastly another way of investing into businesses that are defined by following characteristics – creates jobs in result of investment to company, gives significant geographical or other impact on the activity carried out in the business and scientific impact.
Where to apply for Spanish Golden Visa program
When the investor is clear on the fact that the Spanish Golden Visa program is the best and suits their needs, the next step is to actually apply to the program. Person can apply in their nearest Spanish Consulate in any country. Sometimes it gets forwarded to representative that is a consultant for residence permit by investment in Spain. There are plenty of agencies that offer the services of giving proper advice on the investment residence permit programs. To protect country and the agencies from frauds, fake investors and scams, there has to be proof of investment that is provided by a Property Registry certificate.