Established in 2013, Spain holds one of the industry’s most popular residence by investment programmes. This step-by-step guide on how to apply for Spanish Residency by Investment explains everything you need to know.
Spain is a culturally beautiful country, with majestic landscapes and high quality of living. Several factors, including its robust European economy, attract thousands of people to the Spanish Residency by Investment Programme.
Residency by Investment
Residency by investment (RBI) offers investors the opportunity to legally acquire permanent residency status in another country in return for an investment in its economy.
Permanent residency is a visa status that allows the bearer to legally live, work, go to school and access healthcare in the host country. Having permanent residency can eventually lead to citizenship by naturalisation, provided the resident has lived in that country for a certain number of years.
Also Read: Best countries to get a residence permit
Spain’s Golden Visa Programme
One of the most popular and straightforward routes to obtain Spanish Residency is via their RBI programme.
Spanish Residency by Investment appeals to foreign investors as it can provides a path for individuals to obtain residency in Spain through strategic investments.
With its attractive features and a range of investment options, including real estate, business projects, and public debt, Spain’s Golden Visa Programme continues to garner significant attention from investors worldwide. It offers six different investment options to choose from.
Investment options under the Spanish RBI Programme
Public Debt Securities
This investment option entails a minimum investment of €1million in public debt securities. The investor must obtain official certification from the relevant financial entity and management company of the Bank of Spain. The investment is held until the validity of residence.
Stocks and Shares
Investors can choose to invest €1 million in Spanish company stocks and shares. To qualify, the listed financial intermediary must be registered with the National Securities Market Commission or the Bank of Spain. If investing in unlisted shares, the investor must provide accreditation of investment at the Register of Foreign Investments. The hold period is the duration of the residency validity.
Spanish Investment Funds
This option requires a minimum investment of €1 million in Spanish investment funds, closed-end investment funds, or venture capital funds. The investor must obtain official certification from the relevant financial entity, management companies, or the Bank of Spain. The investment is typically held for a minimum of five years.
Another investment option is to deposit €1 million into a Spanish financial institution. The investor must obtain official certification from the relevant financial entity, management company, or the Bank of Spain.
One of the investment options available within Spain’s Golden Visa Programme is real estate. To qualify, investors must make a minimum investment of €500,000 in a real estate property. The required official certification is obtained from the Property Registry. The hold period for this investment option is tied to the validity of the residence.
Investors can opt for a business project as their investment choice. To qualify, the investment must amount to a minimum of €1 million and meet certain criteria. These criteria include creating job opportunities, generating socio-economic benefits in the specific area where the business operates, or making contributions to scientific and/or technological innovation. To proceed with this investment option, investors are required to obtain official certification from the Directorate-General for International Trade and Investments.
These investment options within the Golden Visa Programme provide foreign investors with various pathways to obtain Spanish residency. Each option requires the necessary official certifications and compliance with the specific hold periods, ensuring the programme’s integrity and promoting investment in Spain’s economy.
Step-by-step guide on how to apply for Spanish Residency by Investment
The process of obtaining residence in Spain involves several stages, allowing investors to gradually establish their residency status. These stages ensure that investors’ status in Spain begins as temporary and can eventually lead to permanent residency. Here is a breakdown of the steps involved:
- Step 1: Make the Chosen Investment. Investors start by making the selected investment, which can include options such as real estate, business projects, public debt securities, or other qualifying investments.
- Step 2: Submit Visa Application. Investors residing outside of Spain need to submit a visa application at their local Spanish Consulate. The application process typically takes around 10 days for a response.
- Step 3: Obtain Residence Visa for Investors. Upon receiving the ‘residence visa for investors,’ the investor must enter Spain and proceed to apply for the ‘residence authorization for investors’ at the Large Companies Unit. The expected response time for this step is around 20 days.
- Step 4: Biometrics and Foreigner’s Identity Card. During the process, the investor is required to provide biometric data, such as fingerprints. Once completed, the investor receives a Foreigner’s Identity Card, which serves as their official identification document in Spain.
- Step 5: Initial and Renewal of Residence Authorization. The residence authorization for investors initially grants a two-year period of residency. Investors have the option to renew this authorization for consecutive five-year periods, ensuring an extended period of temporary residence in Spain.
The multi-stage approach allows individuals to establish their temporary residency, enjoy the benefits of living in Spain, and work towards achieving long-term stability.
With the potential for renewals and eventual opportunities for permanent residency, the Spanish residency by investment programmes offers a favourable environment for investors seeking to capitalize on Spain’s economic prospects, vibrant culture, and high quality of life.