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What is it that comes to your mind when you hear ‘Spain’? Is it the mouth-watering español cuisine or the scenic views of cathedrals, or the famous festival of La Tomatina? Well, whichever it is, getting a Spanish Golden Visa can get you more than just a temporary taste of these and many other things. You will get to learn why and how you need to acquire the Golden Visa and how it can be beneficial for you.
Spanish Golden Visa, also known as the Investor Visa, is among the most successful residency-by-investment visa programs, which has been availed by over 6,000 applicants and has brought in more than € 3 billion since it was introduced in 2013. This program permits applicants to migrate, live, study and work in Spain and the Schengen countries like any other EU citizen by making a certain investment. To know more about the investment types, criteria and eligibility, keep reading further.
Getting an Investor Visa will open a plethora of opportunities for you and your family. To be eligible for the same, one has to meet the following set of standards:
Now that you know what the eligibility criteria for obtaining a Spanish Golden Visa are, let’s proceed to its application process.
As it has already been discussed before, you have to make a significant investment to get an Investor Visa. Following are the investment options available for you:
Obtaining a Spanish Golden Visa can take quite some time and a whole lot of paperwork. Deciding on your investment option and understanding the legal procedures is essential to applying for your Investor Visa.
You need to go through the following stages to successfully obtain the Golden Visa:
Among the multiple options available for the investors to choose from, you have to fix your mind on the one which will work out the best for you.
You need to make the investment and get all the documents legalised and translated into Spanish. It is recommended that you get professional help for doing so as there is a lot of paperwork involved which can get hectic for you to do it all by yourself.
After finishing up with the paperwork, crosscheck and submit them to the Spanish Consulate. Next, you have to pay the government fee and collect a receipt of the same.
After successful submission and verification of documents, you will get your confirmed interview slot. On that date, you have to visit Spain, pay the Government permit fee and give your biometrics.
You should obtain your NIE or the Foreigner's Tax Identification Number and open a bank account to make transactions. Obtaining this beforehand will make your application process faster and smoother.
Upon successful execution of the above-mentioned steps, you will receive your Golden Visa, which is valid for two years and renewable every five years.
If you reside in Spain for five consecutive years, you can apply for permanent residency in Spain. And after 10 years, you can apply for Citizenship status provided that you live at least 6 months annually in Spain.
You need to submit the following documents along with the application form to support your appeal:
Following are the charges and fees you will have to bear to get the Golden Visa:
The residence certificate issued at the time of Visa is valid for one year, which is renewable every two years.
You can apply for permanent residency after five years, provided that you didn't spend more than 11 months outside of Spain in five years.
You can apply for Citizenship and a passport after residing in Spain for 10 years.
Following are the benefits you and your family members will enjoy under the Spanish Golden Visa Program:
If you are applying for the Investor Visa, you should know the following tax implications in advance:
With all this information, this piece on the Spanish Golden Visa comes to an end. Several Indians go to Spain to reside in that country. Having a detailed knowledge of the application process, document requirements, and other information mentioned in this piece will help interested individuals make informed decisions regarding the same.
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Your policy is subjected to terms and conditions mentioned in your policy schedule and policy wording. Please go through the documents carefully.
The information mentioned here about the countries, visa fees and others is taken from different sources. Digit Insurance is not promoting or recommending anything here. Please verify the same before you book your tickets, apply for a visa, buy a travel policy or make any other decision.
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