Spain’s world-class beaches, mouth-watering food, and culture make it a top vacation destination. But it’s also a business hub, and many high-net-worth individuals have found that it is an attractive place to invest and establish residency. The Spanish Golden Visa program offers a fast track to residence for non-EU citizens who can make a significant investment in the country. The program allows for the reunification of family, and can eventually lead to permanent residency and citizenship.

The Golden Visa is a form of residence permit established by Law 14/2013 of the 27th of September, aimed at those foreign non-residents who carry out significant capital investments in Spain. The visa enables its holders to travel without restriction within the Schengen area and to apply for permanent residency after two years, provided that they have maintained their investment.

In order to obtain a golden visa, applicants must invest at least EUR500,000 in real estate in Spain. The investment can be made either by purchasing a property or through the creation of a business project of general interest, as long as it is accredited in the national register. In the latter case, the project must demonstrate that it has sufficient resources and a plan of action to achieve its goals.

Investors can use both cash and loans to make their investment, but the total value of all the investments must not exceed EUR500,000. In addition, the initial investment must be made from the applicant’s own funds and they must be the sole owner. In the case of bank deposits, the investment must be accredited with a certificate from a financial institution, and the deposit must have a term of at least five years.

In both cases, the visa holder must have health insurance, as well as proof that they have sufficient funds to support themselves and their family during their stay in Spain. Those who want to stay longer than five years can apply for a residence permit for ten-year periods, as long as they maintain their original investment. Those who have been resident for five years can also apply for citizenship through naturalization.

Spain’s low corporate tax rates, which have dropped in recent years, and its good infrastructure, make it a great location for setting up businesses. However, it does have stringent labor laws that can be difficult for foreign companies to navigate. In addition, there are strict reporting requirements and audits that you may not find in other more business-friendly jurisdictions.

For those who are considering investing in a Spain Golden Visa, the first step is to consult with a reputable immigration advisor. They will be able to explain the benefits and process of obtaining a Golden Visa in detail. They can also help you to select an investment option that makes the most sense for your individual circumstances and financial situation. They will also assist with the bureaucratic and technical aspects of submitting the application, including overseeing the purchase of your chosen property and processing the visa applications for you and your family members.