Spain

INVESTMENT OPTIONS

Real estate investment is the qualifier for application to the Spanish residency visa and permit program. Permit is issued in 3 months.

EUR 500,000 minimum investment in real estate in Spain to receive residency permit for up to 5 years. The Spanish residency visa will be issued temporarily for an initial period of one year, which can then subsequently be renewed for a two years permit (which can be renewed indefinitely). After two consecutive periods of two years renewal (5 years) the holder may apply for a Permanent Residence Permit, which can lead to Spanish citizenship after a total of 10 years.

Note:
Once an investment has been made, and after the first year, investors can apply for authorization to live in Spain for two years, renewable for another two years after that (and on), as long as the investment threshold of €500,000 is maintained. For this application, you have to show that you have travelled to Spain at least once in the previous 12 months. There is no limit to the number of times this two-year residency can be renewed. Properties can be bought and sold during this period, so long as the investment threshold is maintained.

The granting of residence permits is at the sole discretion of the Spanish Government but, generally, the application is only denied if the due diligence reveals that the applicant has made false statements in the application forms or other submitted documents; has engaged in criminal activities or is under investigation in relation to illegal activities or has (or is alleged to have been) engaged in or associated with any event that would bring disrepute to Spain.

RESTRICTED NATIONALITIES:
North Korea, Yemen, Somalia & Iran.

DEPENDENTS AGE:
Maximum dependent children’s age is 21.

TIME TO RESIDENCY:
3 months

TIME TO CITIZENSHIP:
10 years

PROCESS & NEXT STEPS

Step 1
Secondpass Global shall prescreen your passport copy for Government pre-approval to ensure fast processing. A down payment of the professional fees will be required to open your application. Secondpass Global will provide assistance and advice with the collection of the documents required in the checklist.

Step 2
Secondpass Global will guide you to acquire a property in Spain, a property that entirely suits your requirements. We will start to prepare all the documentation required for the Residency application.

Step 3
Client can decide whether to travel to Spain. However, should you choose not to travel to Spain, a power of attorney may be organized to act on your behalf.

Step 4
Secondpass Global will prepare property purchase documents to complete the purchase. Property purchase funds and taxes should be transferred at this stage.

Step 5
Once the Government has reviewed the file, officials will notify Secondpass Global to whether the applicant has Residence Visa approval. Once you have obtained this visa, you are not obliged to spend a minimum amount of time in Spain during the year. However, to obtain the residency permit at the end of the year, you do have to visit Spain at least once in the year.

Step 6
The Residency visas are issued to you via courier once the balance of professional fees has been paid and settled.