Steps for Citizenship Acquisition by Investment in Spain
Spain continues to grow and strive as one of the most powerful countries in the world with its great possibilities. Offering the highest quality of life to its residents, life in Spain is as easy as it gets. The number of people who wish to reside and live in the country continues to increase each year. If you desire to live and be a citizen of Spain, you’ll first need a residency permit. You can acquire the Golden Visa, which will give you the right to live in the country. Let us dig deeper into the requirements that you have to become a Spanish citizen.
Who is Eligible for the Golden Visa in Spain?
Requirements to acquire the Golden Visa are fairly simple. Apart from its pricing and value, people over 18 and who are independent on their own can easily apply for a golden visa. The official embassy and government of Spain require applicants to have no history of criminal records, not to be refused a Schengen Visa in the past, and to have suitable health insurance in Spain. If each one of these requirements meets along with investments, whoever wishes can obtain the permit.
How Can Someone Get Golden Visa?
If a person fits all requirements, they will be expected to invest a precise amount in specific sectors if they wish to fit the Golden Visa. The required amount of investment differs from one sector to another, and the procedure may sometimes change as well. If you wish to obtain the Golden Visa via investment in real estate, you’ll have to be an owner of a property in Spain worth a minimum of 500,000 Euros. To reach such a significant number, you can own a single unit or more, if the total value manages to reach 500,00 Euros, you are eligible for the Golden Visa. Other ways to acquire the Golden Visa are described as: making an investment in the Spanish public debt of at least 2 million euros, have a share in any company or have a deposit of 1 million euros in Spain, or invest in a business that will employ various people. Another way to obtain such a visa is by leading a scientific or technological advancement mainly in Spain that will positively impact the country. Everyone who fulfills a single investment requirement and other requirements can apply for the visa.
Features of the Golden Visa
Owning such a visa has many features that will benefit the holder and their family. Giving them a right to reside and get full of what the Spanish government provides to them, all holders of Golden Visa can live and work in Spain legally. With easy access to the public services and visa-free zones of Schengen Zone, Golden Visa is quite advantageous.
How to Become a Spanish Citizen
Even though Golden Visa doesn’t necessarily mean that you are a Spanish citizen, it gives you the residency right. Residency is the key factor that leads to becoming a citizen. If you reside in Spain for five years, you can acquire a permanent residency permit that will give you the right to reside in the country for a lifetime. After ten years of residency, you acquire the right to be a citizen. If you have fulfilled each requirement and reside peacefully in the country for more than ten years, you can easily become a citizen.