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What are the residency laws in Spain for investment residency projects, the requirements, and the implementation process? If you are interested or have questions related to this issue, please refer to our detailed article below.
The documents required to be presented include the following:
For certain nationalities (such as Vietnam), a valid visa is required to enter Spain. In cases where a visa is not needed, the individual must possess a valid long-term residence permit/visa issued by one of the Schengen countries..
A visa is required to enter Spain
These documents must be valid for at least three months beyond the planned departure date from the Schengen area and must have been issued within the last 10 years before the entry date. Notably, the new Vietnamese passport model must have the place of birth officially noted by the competent Vietnamese authorities on pages 4 or 5 of the passport.
As required by the competent authorities, you need to prove the reason and conditions of the stay. You may be asked to present one of the following documents:
Tourist tour ticket or return ticket (in all cases).
Business trips: invitation letter from a company or authority to attend meetings, or trade fair/conference participation card, or documents proving the relation to professional activities.
Education, study, unpaid internship, volunteer work less than three months: enrollment proof or acceptance letter from any educational institution in Spain, or proof of acceptance into a volunteer program, or internship agreement,...
Trips for other purposes: booking confirmation, invitation letter, or certificate of participation in activities related to the trip, entry tickets, or receipts,...
Citizens of third countries possessing the necessary documents, including a visa (depending on the case), sufficient financial resources, no entry ban, and posing no security, public order, or public health threat to Spain or outside, may be granted entry.
According to regulations, individuals wishing to enter must prove they have the financial capability to cover the intended stay legally. In 2023, the minimum required amount is 108 EUR per person per day. The minimum amount to be proven in all cases, regardless of the number of days of stay, is 972 EUR or an equivalent amount in foreign currency.
Applicants can present travelers' checks, cash, credit cards accompanied by bank account statements, updated bank books, or any other method to prove the available amount in the form of credit cards or bank account balances. Online bank statements or bank letters are not accepted.
On September 27, 2013, the Spanish government introduced a new policy expanding residency investment projects. This policy was officially completed on July 31, 2015, allowing three generations of families to settle.
What are the Spanish residency laws?
The applicant must be at least 18 years old and prove a clean criminal record.
Invest in real estate with at least 500,000 EUR in Spain.
Prove an income of at least 1,000,000 EUR.
Pay the necessary taxes in Spain.
Purchase full health insurance.
Must not be an EU citizen.
Legal spouse.
Children under 18, if over 18, must prove being single, studying, and financially dependent on the applicant.
Parents of the applicant.
Continuously live in Spain for 8 years and 4 months within 10 years (not less than 183 days/year).
Pass the Spanish cultural citizenship exam.
Children born in Spain need to meet the following: born in Spain, one year of citizenship application, one year of living in Spain, and one parent being a legal Spanish citizen.
Visa exemption for 174 countries, including Schengen and EU countries.
Conditions for renewing D visa: pay full taxes, enter Spain once during the visa validity period, and own real estate.
After 5 years, apply for permanent residency with the following conditions:
Hold a D visa for 5 years.
Live in Spain for 4 years and 2 months within 5 years, not less than 183 days/year.
In the 5th year, live continuously for 12 months in Spain.
Apply for a Schengen visa, survey Spain.
After choosing the desired real estate, the applicant will sign a deposit contract (about 20,000 EUR).
Sign a power of attorney contract with a lawyer.
Open a bank account in Spain.
Prepare immigration documents in Vietnam and transfer the real estate payment.
The lawyer will assist in registering the real estate and completing the ownership documents.
The lawyer will submit the documents to the Immigration Department. Within approximately 30-45 days, a D visa will be received.
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The entire three-generation family can settle in Spain.
No residency requirement.
No background requirement.
Free movement within 26 Schengen countries.
Renewal only requires a single entry.
Allowed to work and do business legally in Spain.
Free public education and healthcare.
Our company, with a team of experienced and reputable staff, is always ready to advise and support customers in their journey to obtain the Spanish golden visa and other countries. If you are interested in learning about residency and work opportunities in Spain, please contact us immediately.
The Spanish residency laws now open up a great opportunity for you to obtain a pass to the land of bulls while enjoying top economic, educational, and healthcare benefits. Follow the website https://quoctichthuhai.com/ for the latest news on laws and information about Spain every day!
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