Recently, there has been an increase in Indian citizens requesting the Golden Visa in Spain to obtain residency in our country. And for good reason – there are some great opportunities on offer for those foreigners with generous capital to invest.
This residency permit is obtained through the purchase of a building with a value of at least €500,000. The Visa Gold, as this visa is also known, is opening Spain up to a multitude of Indian citizens who have decided to invest in the real-estate sector in order to stay here, together with their families.
Why choose Spain?
Currently, many residency permits are being successfully processed for Indian investors and their closest families. It all started with the Support for Entrepreneurs and their Internationalisation Law which was approved in September 2013, seeking to revitalise the real-estate sector after the great crisis suffered in 2008. The result: the Visa Gold, also known as the Investor Visa.
This type of authorisation allows investors and their families to legally reside in Spain, and permits their entry to the European Union and the European Economic Area. This is one of the main reasons for which many Indian citizens have chosen Spain as their place of residency – although it’s not the only reason.
Our country has one of the best climates in Europe. Here, we have sun throughout the majority of the year, with pleasant temperatures – perfect for enjoying all sorts of leisure activities.
Our cuisine is varied, rich and very healthy. In fact, the Mediterranean diet is considered to be one of the best in the world. It is composed of high-quality ingredients, and its most famous dishes are particularly healthy and nutritional – such as paella or the Spanish omelette.
What’s more, in Spain, you can enjoy a great diversity of landscapes – from the exotic beaches of its islands to the spectacular natural landscapes of Galicia or Asturias. Not to mention its great cultural and artistic heritage, its thriving language, friendly people and low crime rates.
What do you need to do to access the Spanish Golden Visa?
To obtain the Golden Visa in Spain, you’ll need to be of age and have no prior criminal record. Furthermore, the person in question must have taken out medical insurance with a private company that operates in Spain, and must not be prohibited entry from any of the countries with whom Spain has signed an agreement.
To obtain the Golden Visa, you’ll need to make an investment of at least €500,000, free of any liens or encumbrances. This means that acquiring a building under the conditions of a mortgage will not be considered valid.
This way, the investor proves their liquidity by having sufficient money to acquire this type of building. However, to verify that this money has not come from money laundering or any other illegal activity, an investigation will be carried out – in which the investor must prove the origin of their funds.
The initial period of this residency period is two years, and may be renewed for a further five years, with the option to request further authorisations. What’s more, during this time, there is no obligation to stay or live in Spain.
For more information about the requirements, benefits and documentation needed to request the Golden Visa in Spain, you’ll find everything you need to know at MySpainvisa.com.