If you are a citizen of a country which is a former Spanish Colony then the Spanish Golden Visa may be even more appealing. It is possible to fast track to Spanish Citizenship after just 2 years of Spanish residency, as opposed to 10 years.
The Philippines and a number of Latin American countries such as Mexico, Cuba and Dominican Republic were all once part of the Spanish Empire so citizens of these countries are eligible to fast track their applications for Spanish Citizenship. Spain is a natural choice for many investors from these countries mainly as Spanish is already their first language and the culture is very similar.
An investment of €500,000 into real estate is still required and the process for residency remains the same. Whilst there is no official stay requirement to retain the residency permit, our legal partners do advise that a continuous stay for the 2 years prior to citizenship is recommended for those going via the fast track route.
For investors originating from all other countries, a full 10 years of residency is required before applying for Spanish citizenship. If citizenship is not required, then it is possible for investors to renew their residency permit every 2 years without the need to reside in Spain. A Spanish residency permit will allow investors to travel freely throughout the EU Schengen zone, spending up to 90 days at a time in each country. For more details, please contact us.