Spain Golden Visa holders can obtain permanent residency by investing in real estate, business projects, or public debt. After five years, they can apply for permanent residency, allowing them to live and work in Spain indefinitely.
Yes, holders of the Spain Golden Visa can gain permanent residency. Here’s how the process works:
1. Five-Year Residency Requirement
- Continuous Residency: Golden Visa holders are eligible to apply for permanent residency in Spain after holding the visa for five years. During this period, they must maintain their qualifying investment (e.g., real estate, business, or financial assets) and fulfill the minimal residency requirement, which is visiting Spain at least once per year. This low residency requirement makes it easier for investors who may not wish to live in Spain full-time.
2. Application for Permanent Residency
- Eligibility: After five years, Golden Visa holders can apply for permanent residency (Residencia de Larga Duración) in Spain. This status allows them to live and work in Spain indefinitely without needing to renew their visa every two years, as is required with the Golden Visa itself.
- Application Process: The application for permanent residency involves providing proof that the investment has been maintained, along with other standard documents, such as proof of residency and financial means. It also includes a background check to ensure that the applicant has no criminal record during their stay in Spain.
3. Benefits of Permanent Residency
- Indefinite Stay: Once granted, permanent residency allows holders to stay in Spain indefinitely, without the need to renew their residence permit as frequently as with the Golden Visa.
- Work and Business Rights: Permanent residents have the same rights to work, study, and conduct business in Spain as Spanish citizens, without any additional permits.
- Path to Citizenship: Permanent residency is also a key step toward obtaining Spanish citizenship. After five more years of permanent residency (a total of ten years of residency), Golden Visa holders may be eligible to apply for Spanish citizenship.
Summary
Spain Golden Visa holders can gain permanent residency after five years by maintaining their investment and meeting the minimal residency requirements. Permanent residency allows for indefinite stay in Spain with full work and business rights, and it serves as a pathway to Spanish citizenship.