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Spain Golden Visa Guide 2024: Invest in Alicante for Residency

Spain Golden Visa Guide 2024: Invest in Alicante for Residency

What is a Golden Visa in Spain?

Golden Visa is a program that allows Non-EU nationals to acquire residency and citizenship in certain countries. You can move around the Schengen area without being subject to border checks by real estate investment.

Spain is the most popular Golden Visa country because:

  • Spain offers a warm climate, historical structures, architecture, and social activities. It promises a colorful Mediterranean lifestyle.
  • It is the most popular holiday destination with the opportunity to swim and sunbathe on famous beaches all year round.
  • It offers comfortable journeys in the Schengen countries with excellent transport lines, including major international airports, highways, and railways.
  • The education system in Spain offers high-quality options suitable for different expectations. There are many international schools following the English/American Curriculum, private or semi-private bilingual schools, and quality state schools.
  • There is an excellent healthcare system in Spain with a well-managed infrastructure.
  • It is a strong and modern agricultural country. You can live more economically than in many European countries.
  • Prices fell before the real estate crisis and have not yet fully recovered. So low property prices allow a profitable investment.
  • The Spanish economy is the fastest growing economy among European countries.
  • There are lots of sports activities, such as football, basketball, golf, tennis, surf

Spain is the most popular Golden Visa country

How to Get a Golden Visa?

The following conditions must be met for application:

  • Minimum € 500.000 property purchase that may be spread over more than one property
  • Minimum € 2.000.000 investment to Spanish Public Debt
  • Minimum € 1.000.000 stock purchase from Spanish companies
  • Minimum € 1.000.000 investment to a Spanish investment fund

The prices stated above are net amounts to be paid without taxes and finance.

Developing a business plan. The plan should provide employment, create positive economic and social effects, or contribute to the development of science and technology.

The investment is always yours and can be sold later on but must be kept for at least 5 years.

The investor and his/her family must visit Spain at least once in each visa period.

You will need to assign a lawyer for this process. The lawyer fee is around € 10.000 + VAT for a family.

Who qualifies for a Spanish Golden Visa

Who qualifies for a Spanish Golden Visa?

To qualify for a Spanish golden visa, the first thing you consider is that you can’t be a citizen of the European Union. But what are the other conditions you must fit into?

The applicant must:

  • Be of legal age (18+ years old in Spain)
  • Not have criminal records, both in Spain and in any other country that they have resided in over the last 5 years
  • Have full-coverage healthcare in Spain. This can be obtained through public insurance or private one. Travel insurance or insurance from the country of origin won’t be valid here
  • Demonstrate the possession of sufficient economic means for the maintenance of both the principal investor and his family (if he also applied for their residency permits)
  • Realize the investment (either € 500,000, € 1M, or € 2M depending on the route chosen), and provide the corresponding document that proves it

How long can you stay in Spain on a golden visa?

If you entered Spain with a golden visa after applying at the Spanish consulate, you will have a 1-year visa. If you applied directly from Spain, you will be the holder of a 3-year residency card, you can renew this permit for 5 additional years. In order to carry out this renewal, however, it is important to show that the investment asset is still under your ownership. You must also have visited Spain at least once during the year. So, as you can see, renewing and keeping your residency is quite easy. Eventually, if it appeals to you, you can apply for Spanish citizenship through investment. After 10 years of legally residing in Spain and owning the said asset, you will be eligible for citizenship.

Why invest and buy property in Alicante

Why invest and buy property in Alicante?

  • Climate and Lifestyle

    First and foremost, Alicante and the broader Costa Blanca region are renowned for their exceptional climate, characterized by mild winters and warm summers. This pleasant weather, combined with over 200 kilometers of coastline featuring stunning beaches, provides a high-quality Mediterranean lifestyle that is hard to match. The region's rich history, vibrant culture, and excellent gastronomy further enhance its appeal as a place not just to invest in but to call home.

  • Real Estate Market

    The real estate market in Alicante offers a wide range of properties, from luxurious beachfront villas to charming inland fincas and modern urban apartments. The diversity of options means that investors can find something that matches their preferences and investment strategies. Furthermore, compared to other popular destinations in Spain, Alicante still offers competitive prices, providing a great value for the investment required to obtain a Golden Visa, which is generally a minimum of €500,000 in real estate.

  • Stable Investment with Growth Potential

    Investing in Alicante's real estate is not just about securing a residency permit; it's also a sound financial decision. The region has shown resilience in the face of economic fluctuations, and property values have been steadily increasing, offering the potential for capital appreciation over time. Additionally, the rental market is strong, driven by tourism and the growing expatriate community, allowing investors to generate income from their properties.

  • Quality of Life

    Beyond the financial and strategic benefits, the quality of life in Alicante and the Costa Blanca is a significant draw. The region boasts excellent healthcare facilities, international schools, and a wide range of leisure activities, including golf courses, marinas, and cultural sites. This makes it not only an ideal place for investors but also for their families to enjoy a high standard of living.

Alicante, with its favorable climate, diverse real estate market, strategic location, and high quality of life, represents a perfect choice for investors seeking to obtain a Golden Visa in Spain. The Costa Blanca offers not just a chance to make a sound investment but also to enjoy a lifestyle that combines the best of Mediterranean living with the benefits of European residency.

February 23, 2024

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