Known formally as the Golden Visa Program, Spain has since used this as a form of boosting business development as well as ridding the market of vacant homes. The program was launched in 2013 and has been a tremendous help in building Spain and its economy back up since it had a collapse of the real estate market in 2008. Spain ever since has been going through a stagnant period causing it to lose buyers to its real estate market and growth of businesses from 2008 to 2016. The Spanish Golden Visa Program has since helped bring businesses, entrepreneurs, as well as families looking to buy homes. It is a great opportunity to anyone looking to purchase, which is why we are sharing for all those looking to possibly buy residential, commercial, or any piece of property in sunny 'ole Spain!
Photo Credit: World Property Journal
Gaining citizenship is pretty straight forward, but will take some time. The process itself is not at all tedious, and if you are already in the market to buy a piece of property abroad, even more of a bonus! With buying a home abroad, many things are taken into consideration. The square footage, finishes, location, closing fees, among many other things! In regards to gaining a pathway to citizenship in Spain, price will be something that is considered with the government granting you access to gaining citizenship. The price required when granting someone who is not already a citizen of the EU a pathway to citizenship would be an investment or purchase equal to or greater than €500,000 (£418,000) into some type of property within Spain. Especially for investors, this will be a great arrangement and deal and will offer any investor the ability to be able to be granted citizenship once certain stipulations are met, especially if they intend to have long-term business in Spain.
For investing or purchasing property in Spain, the first €500,000 must be paid cash, however anything in excess over the initial €500,000 can be mortgaged through a loan. Next, a person must be in Spain for at least 6 months in order to gain citizenship. Granted 6 months is the time length requirement, physical occupation in Spain is not necessary. If you own businesses, you must have one main business that is based in Spain and prove that you have traveled or visited Spain. After 5 years, and of course, maintaining the property, one can apply for permanent residence. Then, you will be able to apply for Spanish nationality. Citizenship is not necessarily a quick process, but it is definitely an easy one when it comes to Spain!
Though the process for getting Spanish citizenship can take some time, boasts amazing properties from penthouses to gorgeous mansions. Whether buying residential, commercial, a piece of land, or an apartment, this country is definitely a plethora of options when it comes to where and what to buy. We are proud to represent some amazing properties in Spain, and represent everything from stunning villas to gorgeous 17th century mansions and of course many other options. When considering citizenship, or the savings from purchasing property in Europe, Spain would definitely be a great route to go!