Spain is a popular choice for individuals looking to settle in Europe. The country boasts a rich cultural heritage, a pleasant environment, and a stable economy. Many people who want to live permanently in Spain apply for a Golden Visa. A Golden Visa is a form of residency visa that permits non-EU citizens to stay in Spain for an extended amount of time. This post will go over the advantages of the Golden Visa as well as the prerequisites for acquiring one.
What exactly is a Golden Visa?
A Golden Visa is a form of residency visa that permits non-EU citizens to stay in Spain for an extended amount of time. The visa was launched in 2013 to encourage foreign investment in Spain. Individuals who invest a minimum of €500,000 in Spanish property or €1,000,000 in Spanish government bonds, equities, or bank deposits are eligible for the Golden Visa.
The Advantages of a Golden Visa Spain
Obtaining a Golden Visa has several advantages. One of the most significant advantages is that it gives a road to permanent residency in Spain. Individuals can seek for permanent residency after residing in Spain for five years on a Golden Visa. Individuals can seek for Spanish citizenship after 10 years.
Another advantage of the Golden Visa is that it permits people to travel freely inside the Schengen Zone. The Schengen Area is a collection of European nations that have eliminated passports and other forms of border control at their common boundaries. This implies that those having a Golden Visa can travel to 26 European countries without a visa.
Furthermore, the Golden Visa permits individuals to work and create a business in Spain. It also permits them to use the Spanish healthcare system and register their children in Spanish schools.
Conditions for Obtaining a Golden Visa
Individuals must satisfy specific standards in order to receive a Golden Visa. The first condition is that the individual make an investment in Spain. Property, government bonds, equities, or bank deposits can all be used as investments. The investment must be at least €500,000 for real estate and €1,000,000 for other assets.
The individual must also have a clean criminal record, which is the second condition. Individuals convicted of certain crimes, such as drug trafficking or terrorism, will be denied a Golden Visa.
The individual must also have medical insurance that covers them for the duration of their stay in Spain.
The applicant must also demonstrate that they have adequate finances to maintain themselves and their family throughout their stay in Spain. The quantity of money needed will be determined by the individual’s circumstances.
The final criteria is that the applicant has never before entered or stayed in Spain illegally.
The Golden Visa application procedure might take up to three months. It entails filing an application to the Spanish consulate in the individual’s home country. Proof of investment, a clean criminal background, medical insurance, and proof of sufficient finances must all be included in the application.
The Golden Visa is a crucial tool for people who desire to reside permanently in Spain. It offers a road to permanent residency and Spanish citizenship, as well as access to the Spanish healthcare system and freedom of movement inside the Schengen Area. It is crucial to remember, however, that the Golden Visa demands a large cost and that candidates must satisfy specific criteria. If you are thinking about getting a Golden Visa, you should get expert guidance to ensure that you satisfy all of the requirements and that the procedure goes successfully.