When discussing the family element of residence by investment programmes, it’s best to start by explaining what residence by investment or RBI is. RBI programmes initially offer a residence visa to an investor. After a few years living in that country, it may be possible for your client to apply for citizenship through naturalisation. It is important to note that one’s residency status can be revoked if the conditions of residence are not adhered to. Moreover, there is a condition of physical residence in that country for a period of time before an investor qualifies for citizenship. Most RBI programmes also differ from citizenship by investment programmes when it comes to adding family members.
Ireland’s RBI programme is the only one similar to CBI, in the sense that family members can be included in the main application. However, for other RBI programmes, such as Spain, the applicant may have to apply first and only when they have residency status can their family members submit separate applications. Therefore, if an applicant wants the whole family also to obtain citizenship, it may be best to choose a citizenship programme as residence takes much longer to obtain full citizen status.
Spain RBI – Case Study
A prime example of Spain’s RBI is one of our most recent clients, Jack. He’s a family man, married with three children, and looking for residency status in Spain. Over the last few years, he frequently travelled to Spain for work and making this move there would make life easier for him. However, a key concern was not knowing whether his family could join him.
One of the problems we had with this residency programme, like many others, is that only after his residence permit was accepted could his family members apply for residence status. But after this period, we were able to submit applications for his wife, three children all under the age of eighteen, and his parents, who are also classed as dependents.
