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.

Benefits

• High quality of life
• Ability to include a spouse or unmarried partner, financially dependent children of any age (adult children must be full-time students), and financially dependent parents of the main applicant and/or their spouse who are 65 years and older
• Access to the public healthcare and education systems in the country
• A vibrant EU country that has majestic landscapes
• The possibility to apply for Spanish citizenship after two years of effective residence for Sephardi Jews and citizens of Equatorial Guinea, Latin America, and the Philippines, and 10 years for other nationals
• Excellent schools, with tuition available in English, French, German, Italian, Japanese, and Mandarin

Qualification Criteria and Requirements

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:

• The acquisition of real estate with a minimum value of EUR 500,000 (one or several properties)
• The creation of a business project to be developed in Spain, duly recognized as being of ‘general interest’
• Company shares or bank deposits with a minimum value of EUR 1 million in Spanish financial institutions
• A government bonds investment with a minimum value of EUR 2 million

Documentary evidence of the investment must be provided as part of the application process.

Procedures and Timeline

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:

1. In the first phase, applicants apply in their home country for a Spanish residence visa that allows them to reside and work in Spain for one year.
2. In the second phase, applicants apply for a Spanish residence permit. If they have come to Spain on an ordinary tourist visa, they may apply for the residence permit directly, thus omitting the first phase.

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.

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Citizenship

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.