It can sometimes be a daunting task for international investors seeking to establish themselves in developed countries, such as those in the European Union, to obtain citizenship in one of those countries’ cities.
Nevertheless, Spain is one of the countries that has offered, for some years now, a considerably easy pathway to citizenship by investment. So if you are an international investor interested in investing in Spain, now is a good time to do it.
There are many reasons for wanting to become a permanent resident or foreign citizen, as many people may be motivated by the harsh and uncertain conditions in their home country, while others may simply be fascinated by the beauty or the vibrant lifestyle of Spain in some of its cities.
The Spanish Golden Visa program
There is something very important that any international investor who wants to invest in Spain should be aware of. It is very different to be a resident in Spain and to be a Spanish citizen, the first one requires a Spanish resident visa which is considerably easy. In the second, to obtain the nationality, is a complicated and slow process.
With citizenship in Spain you and your family will be able to live in this beautiful country, work in it, take your children to school or university and travel freely in most EU countries.
Spain offers the Golden Visa program to all those foreign investors who want to encourage international investment in any of the following aspects:
- Buying a property (real estate) for more than €500,000
- Buying shares of a Spanish company for more than €1,000,000
- Having more than €1,000,000 in a Spanish bank
- Having more than €2 million in Spanish public debt
After this, some documents need to be send, and hiring a lawyer may be a good option. This will grant the investor and her/his family with a resident permit for one year, which can then be renewed each two years, always that the investor has been in Spain at least once per year.
Get a Spanish citizenship for investment
In order to obtain Spanish nationality by investment you must meet the necessary requirements that will allow the principal applicant and immediate family members to benefit from the nationality, including the opportunity to travel to Schengen countries without the need for additional visas.
The main requirement to be able to apply for Spanish nationality, apart from not having a criminal record, is to comply with the period of time of legal residence required prior to acquiring the nationality. The terms vary depending on the applicant’s place of origin, but the general assumption to obtain the nationality is 10 years of legal and continuous residence in Spain.
The citizenship comes after ten years, which shouldn’t be a too hard time to wait for, as a residency brings most rights one would expect, and the citizenship grants a Spanish passport, and all of the rights a person born in Spain has.
Also, after obtaining the Spanish passport, the initial investment that allowed the investor and her/his family to get the Golden Visa (if no further investment have been done), can be sold or dispose, as no more Golden Visa renewals will be necessary for the Spanish naturalized investor.