Spain has a lot to offer to someone who wants to make it his second country. Not only is it famous for its delectable cuisine, but it is also the haven for arts connoisseur due to its vibrant culture. Spain is located strategically as well, and it renders you awe-inspiring scenery wherever you go around the country. It offers the best kind of lifestyle with branches of some of the world-famous international schools around the European Union. Citizens can also rely on their excellent health infrastructure and services.

Residency by Investment Program

In September 2013, the Spanish government launched the investment program which is called the Investor’s Residency or the more popular “Golden Visa.” There are two options for making an investment in Spain under the Golden Visa program. First is to invest in real estate property worth EUR 500,000. You may also invest in government bonds worth EUR 2 million or make a bank deposit worth EUR 1 million. The property and the bank deposit and shares must stay with the owner for five years before it can be sold.

Residence permits in Spain extend to the family members of the applicant. There is no requirement to study Spanish or its culture and history. The applicant is not also required to have physical residence in Spain. Residency in Spain enables the applicant to travel visa-free to countries in the Schengen area and to travel and work in Spain.

The applicant has to be at least 18 years old and without any criminal record. It is also required for the applicant to have a health insurance and to stay in Spain for at least days every year. Residency may also be obtained by the spouse and children who are under 18 years old and children who are still dependent on the applicant and not older than 26 years old.

The Golden Visa is valid for one year and you can ask for this to be converted into a residency permit which is valid for 2 years. This is renewable for periods of 5 years provided that the investment is not sold. After five years, the applicant can apply for permanent resident status. The applicant will be required to live in Spain for at least 183 days every year. If the applicant has lived in Spain continuously for 183 days for 10 years, he is now eligible to obtain a full citizenship.