Introduction to Spain’s Golden Visa Program: A Gateway to European Residency for Filipinos
Spain’s golden visa program offers Filipinos an excellent opportunity to gain residency rights in Europe. With a real estate investment as low as €500,000, you and your family can get Spanish residence permits and visa-free travel around Europe’s Schengen Area.
Eligibility Requirements for Spain’s Golden Visa
The main requirement to get a Spanish golden visa is to make a real estate investment of at least €500,000. You can also qualify through a business investment, capital deposit, or other options outlined below:
- Real estate investment of €500,000 or more
- Business investment of €1 million or more
- Capital deposit of €1 million in a Spanish bank
- €2 million or more investment in Spanish government bonds
The property purchase can be made individually or jointly. If it’s made jointly, each co-owner must still make the €500,000 investment each. They cannot share a €500,000 investment into two.
Under the golden visa program, there is no requirement to live in Spain, as this is an investor visa program. The investment, however, must be retained during residency.
You will also need to provide standard documents such as your passport, background checks, and proof of your investment funds. The process takes about 3 months on average.
Benefits of Spain’s Golden Visa for Filipinos
The major benefit for a Filipino in residing in Spain is the shortened residency requirement to be able to become Spanish. After two years of legal residency, a Filipino can already apply for Spanish citizenship.
Other benefits that come with Spain’s golden visa program:
- Residence permit for you, your spouse, and dependents
- Live and work rights in Spain
- Visa-free travel within the Schengen Area
- Pathway to citizenship
- Excellent education and healthcare systems
- No requirement to live in Spain to maintain residency rights
For Filipinos looking to gain an EU foothold and expanded opportunities, the Spanish golden visa offers an incredible package.
Applying for the Golden Visa as a Filipino
The application process involves several steps:
- Choose your investment option (real estate, business, etc)
- Gather required documents for yourself and dependents
- Submit golden visa application to Spanish authorities
- Get background checks completed biometrics appointment
- Obtain approval and receive your golden visa
Having an experienced lawyer like us to handle the process is highly recommended. We can advise you on the investment, document collection, and navigating the application.
Costs Involved in Spain’s Golden Visa
The main costs are:
- Real estate purchase of €500,000 or other investment
- Transfer taxes and other costs (an additional €32,000 for a €500,000 real estate purchase)
- Legal fees (€2,500 per principal and an additional €500 per dependent)
- Application, travel and documentation expenses
While not cheap, a Spanish golden visa offers incredible long-term residency benefits and freedom to live across the Schengen Area.
Is Spain’s Golden Visa a Smart Choice?
For qualifying Filipino investors and families, Spain’s golden visa program offers you many advantages:
- Pathway to EU citizenship after 2 years
- An appreciating real estate asset in sunny Spain
If you meet the investment criteria, a Spanish golden visa can be a life-changing chance for new European residency, citizenship, security, and freedom. Send us an email at kpborra@borralaw.com for more information.