During 2013 the Spanish government opened the “Spanish Golden Visa” scheme, offering clients the opportunity to gain a Spanish residency Visa for a 500,000 EUR cash investment in Spanish property.
We have listed the basic requirements below, but please feel free to speak to our Marbella (Spain) based legal team for full details of this scheme, or alternatively our Customer Services team can assist in suggesting particular properties that will:
a) gain you a Spanish Residency Visa
b) offer a very good return on investment
c) offer you the opportunity to base your family in Spain.
There is a difference between Residency and Citizenship by investment in Spain. The Visa scheme gives automatic residency to anyone investing over 500,000 EUR (cash, no mortgage) in a Spanish property. This gives you the right to reside in Spain and travel freely within the Schengen Zone, consisting of 26 European countries, but you will not be able to work or gain benefits that the Spanish state offers to its standard residents.
You do not have to reside in Spain (minimum stay is 1 day per year!) although your immediate family can reside here and attend (private) School or University.
Citizenship grants a person the same rights as any Spanish national. So after 5 years of a successful Residency Visa term you can convert the Visa to permanent residency, subject to certain conditions being met. If the application is successful then a Spanish Passport will also be issued.