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The Spain Citizenship By Investment Program Explained
What You Must Know About The Spain Citizenship Program
Spain’s cities, festivals, architecture, climate and beaches are just a few attractions that attract many tourists to the country each year.
The country’s growing economy is built on tourism, transportation, agriculture and transportation industries.
For these reasons, Spain offers investors an opportunity to work and live in a fascinating country through its Spain citizenship by investment program.
Spain Citizenship By Investment Program
On March 2013, the Spanish government passed the long awaited residency visa reserved for individuals who are investing in the country’s economy by purchasing Spanish real estate property.
Spain has an immigrant investor program called Spanish Golden Visa which allows individuals to obtain a visa on purchase of residential real estate worth €500,000.
The cash can be used to purchase property anywhere in Spain but the six most popular places are Costa Blanca, the Balearic Islands, Barcelona, Madrid, Murcia and Costa del Sol.
Properties for sale in Barcelona include apartment and villas.
Properties in this area tend to be more expensive than those in other areas because Barcelona is close to major European cities.
On the other hand Coast Blanca is a picturesque area that boasts of Spain’s best international schools that conduct British curriculum. Costa Blanca is also equidistant from Valencia and Alicante airports.
If you find this article useful make sure to check our in depth guide with all the information you will ever need about getting a second passport.
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Being the capital of Spain, it is clear that Madrid offers a great opportunity for investment for foreign nationals.
Madrid has a rich culture that entices thousands of travelers each year and offers a great base for European travel, considering the fact that Spain Golden Visa doesn’t need foreign nationals to reside in the country.
The Spanish citizenship program is unique as it does not have any minimum stay requirements in the country.
The visa may be renewed and extended to five years. Investors are allowed to own and operate business in Spain but are not allowed to work with separate Spanish employers until the applicant is approved for a permanent residence.
Investors can apply for permanent residence after five years. Once the investor has obtained the residence, he/she can sell the real estate property original purchased.
Like a European citizenship program? Read The Ultimate Guide To European Citizenship. What You Must Know!
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Benefits Of The Spain Citizenship Program
After a foreign investor has lived in the country for five years, they can apply for Spanish citizenship through naturalization.
Once the application has been approved the investor and family will be issued with passport.
Being a Spanish citizen means you automatically qualify for EU citizenship, which allows applicants and family to travel and live in any country within the EU.