The Spanish residency programme offers a swift process involving only up to 30 days of processing time and incurring minimal government fees. From the initial preparation stage to the issuing of the Golden Visa, the process is estimated to take around three months.

The temporary residency permit is granted indefinitely and can be renewed upon a single visit to Spain every year, as long as the investment is maintained. Acquiring and retaining the permit does not require an investor to reside in Spain, making the programme a highly versatile option for acquiring temporary residency. It is also possible to apply for permanent residency after five years, as well as citizenship after a period of ten years, subject to requirements.

One of the highlights of attaining Spanish residency is benefitting from visa-free travel within the Schengen area. Upon acquiring Spanish citizenship, a Spanish passport would then provide a total of 180 world-wide visa-free travel destinations. New Spanish citizens would also have the enhanced option of living, studying, and working in any country within the EU. 

Should an applicant wish to go ahead with the property investment option for the Spain residency programme, there is also good potential for a regular income from their investment as rental yields are high, particularly in the city centres.

The Spain Residency Programme is open to applicants of all non-EU nationalities. Eligible dependants include the spouse, financially dependent children and parents who are 65 years and older. 

Applicants must have a clean criminal record and certify they have sufficient financial resources to sustain themselves and not have been previously refused entry in any of the Schengen countries. 

After five years of temporary residence, one may apply for permanent residency in Spain. After gaining permanent residency or citizenship, the investment can be discarded as no further renewals of the golden visa are required. 

The minimum investment required for the Spanish Residency Programme is that of €500,000 in real estate, either commercial or residential, or both. The property can be rented for income and multiple properties can be invested into so as to cohesively constitute the total investment of €500,000. 

Other options for the Spain Golden Visa include investing at least €1 million in deposits with a Spanish financial institution or otherwise in shares or stocks in Spanish companies.

Applicants may also opt for a minimum investment of €2 million in Spanish government bonds.

Spain Residency Programme Process

Applicants must submit the application, supporting documentation and fees to the designated government agency. Residence permits are issued after approximately 30 days and are valid initially for a period of 3 years, and renewable for a 5 year period.

The application process involves two stages:

• Applicants are to apply in their country of origin for a Spanish residence visa
• Subsequently, applicants  make the investment and submit the Spain Golden Visa application. 

Once this has been submitted, the government agency gives a final decision within 20-30 days.