Spain is “The California of Europe”, a vast, wondrous peninsular in Southwest Europe, blessed with two of the world’s most famous cities, more km’s of sunny coastline than any other EU country, and a take on life that is the envy of the world. No wonder everyone wants to either visit Spain or become Spanish!
The Kingdom of Spain is a sovereign state that is located on the Iberian Peninsula in Southwestern Europe, which it shares with Portugal, Andorra and the British territory of Gibraltar. Spain is the second largest country in Western Europe (behind France) and fifth most populous, behind Germany, France, the UK and Italy.
Geographically, Spain is a country of great diversity that ranges from the hot, dry climate of the southernmost province of Andalucia, to Galicia in the extreme northwest, whose cold rainy climate is often compared to that of Wales. Spain shares the longest unbroken border in the EU of 1,214 km with Iberian neighbor Portugal. Spain also shares a 656.3 km border with France, and much smaller borders with Gibraltar and Andorra. The Spanish coastline encompasses both the Mediterranean and the Atlantic oceans, and Spain benefits from 300 days of sunshine per year on its Mediterranean coastline. Not surprisingly, Spain is officially the sunniest country in Europe.
Like the UK, Spain is both a democracy with a parliamentary government and a prime minister, as well as a constitutional monarchy, in Spain’s case ruled over by King Felipe IV. Spain’s capital city is Madrid, but its second city Barcelona is also an important business hub and one of the most popular touristic cities in Europe. Spain is a member of a multitude of international organizations including the European Union (EU), the Eurozone, the Council of Europe (CoE), the United Nations (UN), the North Atlantic Treaty Organization (NATO) and the World Trade Organization (WTO).
Spain – All Things To All People
To millions of foreigners, Spain is simply the perfect holiday destination. Whether it be for some of the most beautiful beaches in the world, breathtaking inland landscapes that have inspired great artists, architecture to make the Greeks and Italians envious, or snowy mountains to rival anything the French and Swiss have, when it comes to vacations, Spain has it covered.
To others, Spain is summed up by two words – Madrid and Barcelona, two very different cities that are among the most bustling, vibrant, stylish and important in the world, whether it be for business, banking and commerce, art and fashion or just a great place to visit or live.
Others are aware of Spain for seemingly producing more super-talented athletes than almost any place else, with an abundance of great soccer players and top soccer teams, an non-stop conveyer belt of top tennis players, not to mention world-class golfers, cyclists and racing drivers.
Of course, Spaniards view their nation very differently. The average Spaniard loves their country and is proud of all that it stands for, but is also only too aware of its shortcomings. The global economic collapse of 2008 hit Spain harder than any other EU nation. Almost overnight Spain’s construction industry, which was at the time larger than that of the US and China – combined, virtually ground to a halt, leaving 20% of the workforce unemployed.
However, Spaniards are intrinsically tough, hardy, resolute people, and they survived “La Crisis”, and slowly but surely turned the corner. Thankfully Spain’s vast tourist industry kept the nation afloat, and since 2015 the economy has been steadily on the rise. Even the construction industry is back on its feet. In 2017, Spaniards are spending money and enjoying life again!
The Spanish Economy Today
According to The Economist, Spain is a “high income economy and among the countries of very high human development”, and has the “world’s 10th highest quality of life.” Spain is a country of 46.5 million people with a vast land mass of almost half a million square kilometers, rich in natural resources. The South of Spain is perfect for growing fruit, while the North has an abundance of arable land. Fish features heavily in the Spanish diet, and Spanish trawlers have the luxury of both the Atlantic and Mediterranean to fish from. Today, 70% of Spain’s economy is generated by its services industry, followed by construction, agriculture, farming and fishing.
Spain’s services industry includes tourism, which is also a vital part of the economy and accounts for 11% of Spain’s GDP. Spain attracts 75.3 million tourists each year, making it the third most visited country in the world behind France and the US.
Becoming A Spanish Citizen
The bad news is Spain does not at this point in time have a Citizenship by Investment (CBI) program. The good news is that it does have an investor visa program, and with some assistance from 2ndPassports.com, that is almost as good as a CBI program.
The Spanish Golden Visa program was introduced in September 2013, and like all EU investor visas, it gives an opportunity to foreign investors mainly hailing from the Middle East, Africa and Asia to enjoy a better standard of living by becoming a Spanish resident, and being able to live and work in Spain, and enjoy the same rights and have access to the same levels of education and healthcare as Spanish citizens.
Pre-Investment Requirements For The Spain Golden Visa Residency Program
In order to be eligible for the Spain Golden Visa Residency Program, an investor must first fulfil the following criteria:
- The investor must be a non-EU national
- The investor must be at least 18-years of age
- The investor must have authorized proof that they have no criminal record
- The investor must have authorized proof of medical insurance whether private or public, and show proof of a clean bill of health
- The investor must show proof of sufficient funds to support themselves (and their family if applicable) whilst residing in Spain
To gain Spanish residency via the Golden Visa program, an investor must choose one of the following options:
- Make a real estate purchase within Spanish territory for the minimum amount of €500,000
- Deposit a minimum of €1,000,000 in a Spanish bank account where it will remain for five years
- Invest a minimum of €1,000,000 into shares of a publicly trading (or non-trading) Spanish company (or companies) for five years
- Invest a minimum of €2,000,000 into Spanish Treasury bonds for 5 years
The Benefits of Spanish Residency
The benefits of first gaining Spanish residency via its Golden Visa program, after five years* applying for and receiving permanent residency and then full Spanish citizenship are many.
- Spanish residency via the Spain Golden Visa can be acquired for as little as €500,000
- The Golden Visa gives an investor the right to live and work in Spain for five years
- The investor’s family can be included in the application
- An investor who resides in Spain for less than 183 days per year will not be eligible for taxation
- After five years an investor is eligible to apply for permanent residency in Spain
- After one year of permanent residency, an investor can then apply for Spanish citizenship
The Benefits of Spanish Citizenship
Spain is an EU member state, and as a Spanish citizen, an investor has the right to live and work without limit or restriction in any other EU country
The Spanish passport is the third most powerful in the world with visa-free access to 175 countries, including North America, Central America, South America, the Caribbean, Southern Africa, the UK and Ireland, Western Europe in its entirety, parts of Eastern Europe, areas of Asia, all of Southeast Asia and Australasia
How 2ndPassports.com Can Help
*2ndPassports.com can help to speed up the period of residency normally required for Spain’s Golden Visa investor program, often reducing it from five years to one year or less. Contact us today for further details.
For more information on becoming a Hungarian citizen and receiving a Spanish passport, contact 2ndPassports.com today. If you visit our homepage, you will see our Spain program, as well as a selection of the best residency and citizenship programs from the EU and Caribbean markets. We can give you all the information you require on Spain’s Golden Visa program, and explain how we can speed up the residency and citizenship process, and deliver you your Spanish passport in a fraction of the usual time.
Feel free to contact us via email, WhatsApp or Telegram. If you prefer you can chat to one of our expert representatives directly – you can call us using our encrypted phone and Skype lines. All of our contact details are listed at the top of the 2ndPassports.com homepage.
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