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COUNTRY PROFILE

• Capital: Madrid
• Population: 46.7 million
• Area: 505,988 sq km (195,363 sq miles)
• Languages: Spanish (Castilian), Catalan and its variant Valencian, Gallego (Galician), Euskera (Basque)
• Major religion: Christianity
• Life expectancy: 79 years (men), 85 years (women)
• Currency: Euro
• Exchange Rate (as of Oct. 2018):US$ 1.00 = 0.870022 EUR

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Spain boasts the world’s 14th largest economy and regularly ranks highly for standard and cost of living and quality of life. It is a Southern European country comprising 17 autonomous regions. The country is bordered by Portugal to its west and France and Andorra to its north. Spain has a population of around 47 million and the local currency is the Euro.

The Spanish Government introduced the Residences Visa Law 14/2013 on the 27th September 2013 to support entrepreneurs and internationalization. The law offers the opportunity for non-EU citizens to obtain a Residence Permit by investing in Real Estate in Spain for a minimum value of €500,000 Euros. A residence permit for 1 year is issued and can be renewed (for a 2-year period each time), provided that the real estate property is still owned by the applicant.

While Spanish residency-by-investment is beneficial on its own, another huge advantage is that it also offers a path to European citizenship. If you’re looking long-term, you can apply for full Spanish citizenship after 10 years of residency.

FAST, FLEXIBLE FREEDOM: Obtain your European residency in just two to three months with Spain’s fast track process. You can apply for your residence permit without the need to reside or visit the country. It is also possible to apply for full citizenship further down the line.

EASY EUROPEAN TRAVEL: As a Spanish resident or golden visa holder, you can travel freely throughout the Schengen Area. It is even possible to reside in these countries for up to three months within any six-month period.

BUSINESS BENEFITS: Establishing a business in Spain offers easy access to the markets of the EU and North Africa. You’ll also benefit from an attractive tax regime, as tax obligations only apply to those residing in Spain for six months or more every year.

SECURITY FOR YOU AND YOUR FAMILY: Your Spanish residency extends to your spouse and any dependent children, allowing your family to live, work and study in Spain with you.

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.

VISA FREE COUNTRIES

26 COUNTRIES VISA-FREE (SCHENGEN AREA)    
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Poland Portugal Slovakia
Slovenia Spain Latvia
Liechtenstein Lithuania Luxembourg
Malta Netherlands France
Germany Greece Hungary
Iceland Italy Austria
Belgium Czech Republic Denmark
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