Some tips on the Spanish citizenship program by investment

Acquiring the nationality of any country has traditionally been a very long process. In fact, it is only recently that countries have started to shift to processes that allow for faster acquisition of citizenship provided certain conditions are met. One such way in which this is possible is through investment. If you are already familiar with this method, you should know the different countries that have programs that offer it. Those who do not know should keep reading this article because I will explain a little through the example of the citizenship by investment program in Spain.

Spain is a highly developed country that is part of the European Union. It is known for its long influential history, culture, modern way of life and high standard of living. Having access to Spain means you have access to many important countries in the neighborhood. So citizenship would be a good option if your circumstances and resources allow.

Today we will know a few things about the Spanish Citizenship by Investment program.

  1. An introduction
    Such programs, in general, are called Gold visa programs. Under these programs, anyone can become a resident / citizen of a country as long as they make certain levels of investment and meet other eligibility requirements such as blank files. Spain’s Golden Visa program was launched in 2013 and extends to a third country national by investing a certain amount in the Spanish economy. Once these conditions are met, citizenship is granted through an expedited process, and the successful candidate can enjoy all of the benefits of citizenship.
  2. What type of investment you should make
    Under the program, the applicant has the opportunity to invest in a myriad of ways. In general, there are five avenues of investment for the applicant. He can invest in real estate but not less than € 500,000, invest a minimum of € 2,000,000 in Spanish public debt, buy shares in a company, deposit at least € 1,000,000 in a local bank, or invest in a business that makes certain contributions like job creation, technological advancement, and so on. The investor can choose any of them to meet the investment requirements under the program.
  3. Other eligibility conditions
    Each Golden Visa program undertakes due diligence and therefore a number of other eligibility conditions have been associated with the investment requirement. To apply for the program, you must be at least 18 years old, have no criminal history, have a legal source of income and have health insurance in Spain. However, it may happen that additional conditions are imposed but this depends on the context. It is only after meeting all of these requirements that the application process is expedited and citizenship granted.
  4. What are the advantages
    Obviously, no one would invest such a large amount for nothing. The biggest attraction of the Spanish Golden Visa program is that it allows the successful candidate to enjoy all the benefits of citizenship. Benefits include visa-free travel to EU and Schengen zone countries, extension of benefits to family members, non-obligation to stay in the country for renewal of residence permit, eligibility to work legally in Spain and access to public services such as public education. You can bring your family members, as mentioned above, and give them the same benefits as you. However, note that the jurisdiction of family members covers your spouse, minor or dependent children and dependent parents.
  5. When do you get citizenship
    Now the first step is to get a residence permit, but those of you who want to become citizens will have to wait a little longer. To acquire citizenship under the program, you must stay in Spain for at least 10 years; to be very precise, you need to live at least 6 months a year every 10 years. In addition, you will need to show the authorities that you understand the local language and have cultural and social ties to the country. Only after proving these conditions will a passport be issued to you.

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