The Spanish Golden Visa program started in 2013; since then, Spain has welcomed residents worldwide. Spain is the largest South European country with one of Europe’s richest cultures and most welcoming citizens. The country has a growing economy and a high standard of living. Thus, Spain is home to some of the most amazing world heritage sites, being a center of attraction for everyone.
You can enjoy many benefits if you get a golden residency in Spain. These benefits include access to world-class health and education services. You can also get visa-free access to certain countries in Europe.
Are you excited? Then, let’s talk about the Golden Residency program offered by Spain in detail.
What is Spain’s Golden Residency Program?
Spain’s Golden Residency allows investors worldwide to get residency permits for themselves and their families. This permit can be achieved in different investment modes and allows people to be a part of one of the most prominent cultures of the world.
How can one enroll in the Golden Residency Program?
Follow this guide if you want to enroll in Spain’s Golden Residency program.
Investing in Property
One of the most convenient options to get golden residency is investing 500,000 euros in any property. You can choose to invest it in a single or several different properties.
Moreover, you can buy residential or commercial properties and earn by renting your property. If confused, you can also opt for expert advice for your investment and reap the benefits.
Buying Spanish Government Bonds
One of the other popular options for attaining Golden residency is investing 2 million euros in government bonds. These bonds are lucrative as Spain offers amazing interest rates on these bonds along with principal repayment.
Another great thing is that you have to hold the bonds for a tenure of 5 years only.
Investing in stocks of government companies
If you are most interested in shares and stocks, you can invest 1 million euros in the stocks afforded by Spanish national companies.
Like the other two ways to get Spanish golden residency, your investment should last five years.
Eligibility Criteria for Golden Residency offered by Spain
You must fulfill several criteria to become a resident of Spain. The most basic criterion is that you must be at least 18 to apply. You should also have a clear criminal record and medical history in the past five years. Moreover, you shouldn’t be a sanctioned or politically connected person to apply for or have any debt in Europe, including Spain.
Additionally, you must have a private health insurance policy of 30,000 euros to ensure your health as a resident. Someone willing to apply must prove they have enough finances to stay there without working.
There should be no prior rejections for residence from other countries in Europe, the UK, the USA, Australia, Canada, New Zealand, or Spain.
Process of getting yourself the golden residency step-by-step
Now, quickly follow these steps to get your Spain Golden Residency through GlobalResidenceIndex.com.
Select your ideal investment plan.
Yes, the first step you have to take is selecting the investment plan that suits you perfectly. Whether you choose real estate or government bonds, there is a higher chance that you will be able to make a great profit from it.
If you are confused about the options available, contact the Global Residence Index team for assistance.
Starting with the investment
Once you select an investment plan, an attorney will obtain a taxpayer number and open a bank account for the investment. With the opening of your bank account, you will be eligible for investment.
With the investment, your application would be submitted for a check.
Schengen visa application
After this, you will be required to apply for Schengen visa. Once you become a Spanish resident, you get visa-free access to all the Schengen European countries.
Just think about entering more than 25 European nations without struggling to obtain a visa.
Biometrics and Final File Submission
It’s time to get to Spain to submit all your biometrics for approval. After this, you will be required to meet with the consulate. This step would require around one to one month as getting the appointment soon is complex. But the duration can be shorter if you manage to get one early.
Now, it is time to wait.
Now that you have completed all the processes, you must wait for the authorities to review your application. This process takes somewhere between 2 to 3 months. If everything goes well, you will get your golden residency soon with all its benefits.
What are the benefits of Spain’s Golden Residency Program?
There are many benefits to attaining your golden residency.
- It allows you to travel in Schengen countries visa-free.
- You will be able to use banking and other financial instruments throughout Europe.
- The residents can access all the healthcare and educational benefits, making living with their families easy.
- You can access the complete European market once you reside in a European country like Spain.
- You will be required a different permit to work in Spain, but you are good to go as long as you have enough to sustain yourself without working.
- Spanish culture and cuisine is an experience of a lifetime, even for travelers.
Being a resident and experiencing this richness is something you won’t find anywhere else.
Can I become a permanent resident with Golden Residency?
The residence permit you get with Golden residency is for two years if you apply from Spain and one year if you apply from outside. Once this duration ends, you can simply apply for renewal, extending your residency for five more years.
To become a taxpayer, a resident has to stay in the country for 300 days per year for five continuous years. And if you want to have permanent citizenship, you will be required to stay in the country for ten years. This case has some exceptions as well.
If you are married to a Spanish person, you can become a Spanish citizen after one year of residence. People from Ibero-American countries, Portugal, the Philippines, and Equatorial Guinea, can apply for citizenship after being a resident for two years.
If you want to invest and reside in a European nation, this Golden Residency program is made for you. You get to taste Spain’s rich culture and cuisine without tedious processes. Also, whichever investment plan you choose, you can make a profit. Spain gives you access to many other European countries, making this unique.
The country has everything, including an amazing education and healthcare system. A welcoming population and sites deserve to be called heritage sites for the world. You can also become a citizen quite easily compared to other European nations.