The golden visa program spain allows non-EU citizens to acquire a residence permit and eventually citizenship by making a substantial investment in Spain. This investment can be in real estate, share purchases, bank deposits or government bonds. It has been particularly popular with applicants from China and Russia. However, it has also benefited families from Iran, Lebanon, and Venezuela. The residence permit obtained through the program is renewable and allows individuals to live in any part of the country. It also enables them to travel around the Schengen zone without being subject to border checks.
The Spanish government launched this residency-by-investment program in 2013 to boost the economy, increase foreign direct investment, and promote the creation of local jobs. The law was amended in 2015 to provide additional benefits and make it easier to secure a visa. It is now possible for a spouse and children to join the main applicant, and the residence permit can be extended after five years. Upon the completion of ten years of residence, applicants can apply for citizenship in Spain.
Those who apply for the golden visa will have to submit several documents in order to receive their residence permit. The documents must be notarized and translated into Spanish if they are written in another language. A medical certificate will have to be provided by a doctor. If the applicant has any children, birth certificates will have to be submitted along with their passports. If the family is applying for the visa together, a marriage certificate will have to be provided.
Once the application is successful, applicants will be able to invest in any kind of property in Spain and enjoy the country’s famous climate and culture. It will also give them access to the country’s national health system. It is important to note that applicants must be employed in Spain and pay taxes in order to use the public healthcare system. They will also have to prove that they have sufficient funds to support themselves and their families.
The most popular way to obtain the golden visa is by buying real estate. This option is the simplest and most cost-effective. Other options include investing in a Spanish company or in venture capital funds, or purchasing treasury bonds. Investors will also need to have their investment certified by the Treasury Department.
Once the investment is made, applicants will need to stay in Spain for at least six months a year to keep their residence permit active. The golden visa will then be renewed every two years. Those who successfully complete the program can then apply for permanent residency and citizenship after ten years. To succeed in their citizenship applications, applicants will have to demonstrate that they maintained their investment and remained residents of the country during that time. Those who fail to do so may face a hefty fine.