Spain is an EU country enjoying a sound political system and a thriving economy. The country offers a European standard of living including high standards of education and health care. Spain has been a member of the EU since 1985 and in the Schengen area since 1995.
Spain is an EU country enjoying a sound political system and a thriving economy. The country offers a European standard of living including high standards of education and health care. Spain has been a member of the EU since 1985 and in the Schengen area since 1995.
Country Highlights
| CAPITAL CITY: Madrid |
EUROPEAN UNION: Full Member of the EU & Schengen Area |
| TIME ZONE:Central European Time Zone UTC+01.00 |
CURRENCY: Euro (€) |
| TOTAL AREA: 505,990 km² |
POPULATION: 46,468,102 |
| LANGUAGE: Spanish |
VISA FREE COUNTRIES: 26 Schengen Countries |
Legal Basis
The Spain Golden Visa Programme is regulated by Law 14/2013, of 27 September 2013, and is aimed to support entrepreneurs investing into Spain. The law enables non EU citizens to apply for a resident permit through different types of investments.
Benefits
- Fast Process; 20 Days
- Schengen Residence Card
- PR Permit Renewable after 5 years
- Leads to citizesnhip after 10 years
- Right to Live, Work & Study in Spain
- Family members included
Eligibility
- Applicants coming from non-EU countries are eligible to obtain the Spain Golden Visa.
- The main applicant must be at least 18 years of age;
- Eligibile dependents include spouse, children and parents;
- The applicant must undergo a fit and proper test and be able to produce a clean criminal record;
- Investment optionios- the Spain Golden Visa Programme offers various investment options, including real estate investment, a transfer of credit or an investment aimed at job creation in Spain.
- Real estate investment- applicants selecting this investment route are required to invest a minimum of €500,000 in Spanish real estate.
- Business development is Spain -an applicant opting for this route must satisfy one of the following conditions:
- create employment
- the investment needs to have socioeconomic impact on the country
- contribute to scientific/ technological innovations.
- Capital transfer- applicants may opt to invest a minimum of €2 million in Spanish public debt. Otherwise one may invest a minimum of €1 million in shares in Spanish companies or bank deposits with a Spanish financial institution.
- Tax- Spanish authorities exempt foreigners from paying tax in Spain on their worldwide income unless one resides in Spain for more than 183 days per year, within which the person will become a tax resident. Income derived from Spain such as rental of property is taxable at a rate of 24%.
Process & Timeline
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