SPAIN GOLDENVISA PROGRAMME

CAPITALCITY

Madrid

LANGUAGE

Spanish

POPULATION

47 million

TIME ZONE

Central European Time Zone UTC+01.00

EUROPEAN UNION

Full Member of the EU & Schengen Area

VISA FREE COUNTRIES

26 Schengen Countries

TOTAL AREA

505,986 km2

CURRENCY

Euro €

SPAIN

Spain is an EU country enjoying a sound political system and a thriving economy. The country offers a European standard of living including high standards of education and health care. Spain has been a member of the EU since 1985 and in the Schengen area since 1995.

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 Spain Golden Visa Programme is an attractive option to non-EU nationals who wish to reside, study and do business in Europe. The programme also paves the way to permanent residency and could also lead to European Citizenship.

LEGAL BASIS

The Spain Golden Visa Programme is regulated by Law 14/2013, of 27 September 2013, and is aimed to support entrepreneurs investing into Spain. The law enables non EU citizens to apply for a resident permit through different types of investments.

PERMANENT RESIDENCY & CITIZENSHIP

After 5 years of temporary residence, one may apply for permanent residency in Spain. Following 10 years of permanent residency one may apply for citizenship through the process of naturalization, provided that certain criteria are met.

BENEFITS OF SPAIN GOLDEN VISA PROGRAMME

Right to live, work and study in Spain

Schengen Residency Card

Leads to PR after 5 Years of Temporary Residence

Leads to Citizenship after 10 years residency

Low Minimum Stay Required

Business friendly

ELIGIBILITY

The main applicant must be at least 18 years of age and possess a clean criminal record and a private or public health insurance policy. Eligible dependents include the spouse, children under the age of 18, children over the age of 18 who are dependent on the main applicant due to health reasons, and the parents of the main applicant together with the parents of the spouse.

INVESTMENT OPTIONS

The Spain Golden Visa Programme offers various investment options, including real estate investment, a transfer of credit or an investment aimed at job creation in Spain.

REAL ESTATE INVESTMENT

Applicants selecting this investment route are required to invest a minimum of €500,000 in Spanish real estate. Applicants can opt for a residential or commercial property, or a combination of both, and such the property may be rented out. Different buyers may also combine their investment into one property, and any amount exceeding the minimum investment may be mortgaged out.

BUSINESS DEVELOPMENT IN SPAIN

The business development route is aimed at boosting the Spanish economy. An applicant opting for this route must satisfy one of the following conditions: 1) create employment 2) the investment needs to have socio- economic impact on the country 3) contribute to scientific/ technological innovations.

CAPITAL TRANSFER

Applicants may opt to invest a minimum of €2 million in Spanish public debt. Otherwise one may invest a minimum of €1 million in shares in Spanish companies or bank deposits with a Spanish financial institution.

TAX

Spanish authorities exempt foreigners from paying tax in Spain on their worldwide income unless one resides in Spain for more than 183 days per year, within which the person will become a tax resident. Income derived from Spain such as rental of property is taxable at a rate of 24%.