Spain is one of the most desirable destinations worldwide and is a highly sought-after location for investors.
Situated in Southwestern Europe, Spain is regarded as one of the world’s most popular holiday destinations. It is a vibrant country admired for its majestic landscapes and excellent quality of life and a nation with a rich history and unique culture and traditions. Spain has one of the most important economies in Europe. It is also a full member of the EU and the Eurozone.
For those who wish to reside in this lively country, the Spain Residence by Investment Program is the most efficient way to acquire such status. The Spanish government has allowed for a substantial number of visas for individuals who wish to make a significant, qualified investment into the country that would boost the economy through foreign direct investment.
Under the residence by investment program, individuals and their immediate family members can become residents of Spain (through a temporary residence permit) within less than a month. Subject to general immigration rules and requirements, residents by investment can acquire permanent residence status after five years of continuous residence in Spain, and may gain Spanish citizenship thereafter.
The Spain Residence by Investment Program requires that a foreign individual invests into either a real estate project, a business project, company shares or bank deposits, or government bonds.
Applicants are required to fulfill one of the following investment options in the country:
Documentary evidence of the investment must be provided as part of the application process.
Applications to the program must be made through the prescribed forms and must be accompanied by the appropriate fees and supporting documents. Residence permits are usually issued after a 20-day consideration period and have an initial duration of two years, renewable for five years upon request, provided that a minimum investment in Spain is maintained by the applicant.
The application process comprises two stages:
The residence permit applies to the main investor, spouse or partner (including unmarried or same-sex unions), and all economically dependent descendants.
There is no minimum stay requirement to maintain residence status but obtaining the first residence permit requires a visit to Spain.
Residents may apply for citizenship only in their 10th year of residence in Spain. However, Sephardi Jews and citizens of Equatorial Guinea, Latin America, and the Philippines can apply for Spanish citizenship after only two years of effective residence in Spain. Dual citizenship restrictions apply to most foreign nationals.
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