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Spain’s passport is ranked as the 3rd strongest passport in the world. It allows visa-free access to over 175 countries. Spanish passport holders have the right to study, work, and live in any country in the European Union.
On the 27th September 2013, the Spanish Government introduced Law 14/2013, in support for entrepreneurs and internationalization, to give non-EU citizens and members of their families the opportunity to obtain a Temporary Residence Permit in exchange for carrying out Real Estate investments in Spain whose value exceeds € 500,000 Euros. The purchase can be made by an individual or through a legal entity (company) that is 100% owned by an individual but in either case, the purchase must be in full and free of any charge (without using a bank loan or mortgage).
The Temporary Resident Permits will also be granted to Spouses and any dependent children (under 18 years of age) but will not give the resident benefits such as free healthcare and education or other social benefits and so the investor and his or her family must have health insurance and be able to show sufficient financial resources to support themselves.
The Temporary Residence Permit is granted indefinitely but will require the Owner to visit Spain once each year to renew and to receive the replacement EU National Identity Card.
Spanish Law 14/2013, allows non-EU investors to qualify for Spanish residency under the golden visa program. The following investments qualify for spanish golden visa.
Client signs IVS Retainer Agreement and pays the retainer invoice The client chooses the property remotely. If the client wants to go to Spain to choose a property, then the client will then need to go to the Spanish Consulate of his residence (or Country of origin) and apply for a Tourist Visa.
The lawyers execute the purchase of the property and all investment documentation is collated. At this point, property purchase costs and taxes will be payable. N.B. The property sale contract will be subject to successfully obtaining the residency visa. All documentation for the Residency Application is finalized. Once the file is ready it is submitted to the Government, at this point Government Fees are payable. File Submission Payment of IVS Professional Fees is payable.
Once the Government has reviewed the file, officials advise IVS as to whether the applicant has been given Residence Visa approval.
The client is issued with a Residence Visa. This is valid for 1 year however as this doesn’t permit the client to work in Spain, the client can apply for the 2 year Residence Permit straight away if they want to work in Spain. IVS final Professional Fees are paid.
Visa requirements for Spanish citizens are administrative entry restrictions by the authorities of other states placed on citizens of Spain.
As of October 2018, Spanish citizens had visa-free or visa on arrival access to 187 countries and territories, ranking the ordinary Spanish passport 4th in terms of travel freedom (tied with the Danish, Finnish, Italian and Swedish passports
