Spain’s government is decided to create opportunities for foreigners to get the Spain golden resident visa resulted in investment and to purchase of property. Under which, Spain has been offering the residency visa for those who invest one million euro in business in Spain, Rs 5 Lac to buy property and 12 million euros to invest in projects of public interest and these visas named “Golden visas”. According to the government statistics, the 530 foreign investors have got the benefit since September 2013 from the Spanish visa facilitation in result of investing in Spain. To take advantage of the ease of visas for foreign investors are mostly Chinese and Russian investors. In Spain, the prices have dropped significantly due to the economic crisis in housing and property since 2008 and this situation is beneficial for foreign investors. This is the best opportunity for Asian investors that they get the five year residence card to stay in Spain in exchange to buy the property. The trend of Chinese investors is towards the Katalonien and Balearic islands.
It is important for applying Golden Visa that he before never enter illegally in any country of Europe. Applicants aged must be 18 years or over and his visa application has not rejected in any the Schengen state and applicant should stable financially. Description of personal business, Bank statement and the photocopies of property registries must be attached with the visa application. Applicants must have to invest at least 5 Lac in Spain.
After the approval of the Golden visa, the applicant can call his wife and children who are under 18 years of age. More than eighteen years the children may be called on this visa who are handicapped or sick and cannot live without the attention of parents. There is no limit to extend the golden visa because Resident taxpayers no limit to stay in Spain. After the stay of five years to the holder of Golden visa the permanent Residence card will be issued to the person. After which they would be entitled to sell his property. During the period of Golden visa, the property cannot be sell.
After the period of 10 years based on investment, the person will qualify for citizenship in Spain. After that, his family could live in any country in Europe, children can read anywhere and can be business in any country of the Europe. To the applicant of Golden Visa will be apply for the tourist visa. During this he could see the property of his likes and if he wants, he can give his power of attorney to his legal adviser for more details.
Spain Golden Resident Visa Guide in Urdu: