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April 1, 2024
5 min

Spain Residence for Indian Citizens: Complete Guide

Brittany Collins

Spain is an attractive destination for many Indians as it is a warm country with a high level of life and a special Golden Visa Program.

This program allows wealthy Indians to get Spanish residence permits by investing at least €500,000 in the Spanish economy. The most popular option is the purchase of real estate.

Spain Residence for Indian Citizens: Complete Guide

Spain Residence for Indian Citizens: Complete Guide

7 Benefits of Spain Residence for Indians

  1. Access to the Schengen Area. Spain is part of the Schengen Agreement, allowing residents to travel freely within the Schengen Area, which includes most European countries. This facilitates easy exploration of Europe.

  2. High quality of life. Spain offers a high quality of life with a pleasant Mediterranean climate, beautiful landscapes, and a rich cultural heritage. It is known for its relaxed lifestyle and vibrant culture.

  3. Education and healthcare. Spain has a strong public education system and universal healthcare that Indians can unlock with Spanish residence.

  4. Diverse job opportunities. Spain has a diverse economy with opportunities in various industries. Major cities like Barcelona and Madrid are hubs for business and technology.

  5. Cultural richness. Spain is renowned for its rich culture, including art, music, festivals, and cuisine. Residents can enjoy both old architecture and vibrant modern quarters.

  6. Political stability and safety. Spain is known for its political stability and relatively low crime rates, providing a safe environment for residents.

  7. Real estate investment. Spain’s property market offers investment opportunities, whether for rental income or long-term capital growth. Residents can take advantage of local property markets.

Investment Options under the Spain Golden Visa Program

Spain offers six investment options, the most popular being real estate purchase.

Purchase of real estate. The investor can buy residential or commercial property. It is also possible to buy several properties if their total value is €500,000+. The sum doesn’t depend on a family’s composition or the property type.

Purchased real estate can belong to the investor or their company if the investor is its controlling shareholder and owns most of the shares. If the property is bought on the company’s behalf, the 21% VAT can be returned.

Other options include:

  • opening a deposit in a Spanish bank — €1,000,000+;

  • purchase of shares of Spanish companies — €1,000,000+;

  • purchase of investment funds units — €1,000,000+;

  • purchase of government bonds — €2,000,000+;

  • business investment — the minimum sum amount is not stated.

Requirements for Spain Residence Permit

For the main applicant. The investor participating in the program must be over 18, buy health insurance, have a legal income and be able to prove it, have no criminal records or prosecutions and have no debts in Spain. The investment money must be earned outside Spain.

For close family members. Close family members that can be included in the applications are:

  • a spouse in an officially registered marriage or unregistered partnership;

  • children under 18;

  • children over 18, unmarried, financially dependent on the investor and with no children of their own;

  • financially dependent parents of any age.

Required documents. The whole list of required documents depends on the investor’s situation and background and includes:

  • a passport;

  • a birth certificate;

  • an ownership of a property certificate;

  • a marriage certificate, if applicable;

  • bank statements;

  • completed government forms;

  • passport-size photos;

  • health insurance for all family members.

Support costs. Besides the investment, the applicant must pay additional expenses. First, applicants must prove their financial solvency of €28,800+ per annum. For each additional dependent, the main investor adds around €7,000.

The investor must pay around €400 for a registration fee, €1,000+ health insurance and a notary fee of at least €600.

How to Obtain Spain’s Golden Visa

The process of obtaining a Spanish Golden Visa lasts around 5 months. It can be extended if the Spanish authorities require additional documents.

1

1 week

Eligibility check

You must be sure you’re suitable for the program and meet all the requirements. Then, you must hire a reputable agency that will help you go through the whole process.

2

1—4 months

Choosing the investment option and fulfilling the investment

If you, for example, decide to buy real estate, you must either come to Spain to examine it or through a representative by power of attorney.

The investor gets a taxpayer number, checks the transaction terms and signs a contract with a seller. After that, they submit the agreement to the Land Registry and receive a certificate of ownership.

3

2—4 weeks

Preparation of documents

The list of documents includes:

  • a passport;

  • a birth certificate;

  • an ownership of a property certificate;

  • a marriage certificate, if applicable;

  • bank statements;

  • completed government forms.

All the papers must be translated by a certified translator, the copies certified by a notary.

During the application process, the investor and their family must be in Spain to submit biometrics.

4

Up 20 days

Getting a residence permit

Spanish authorities examine the investor’s application and make the decision within 20 days. Then, the investor and their family collect their new documents in person at a police station.

The first residence permit card is valid for three years, and the next one — for five years.

Alternative Ways to Obtain Spain Residence Permit

For financially independent persons. A non-lucrative residence visa is suitable for retirees and individuals with sufficient financial means who wouldn’t work in Spain. If that’s your choice, you’ll need to demonstrate a stable source of income or enough savings to support yourself and your dependents. The minimum balance on the bank account must be €28,800.

For Digital Nomads. This type of visa is offered to people who work remotely for companies outside Spain. You must be able to demonstrate a minimum annual income of €25,000.

For studying. A student visa is granted to those accepted into a Spanish educational institution. It can be an undergraduate, master or PhD degree or, for example, a Spanish language course. To get the visa, you must demonstrate proof of enrollment, financial means to support yourself, and adequate health insurance.

For work. A worker visa is given to people with a job offer from a Spanish employer. There is a specific document for highly skilled professionals — a Blue Card. The employer usually initiates the process of obtaining a working visa for the employee through the Ministry of Labor and Social Security.

For family reunification. If you have family members who are Spanish residents or citizens, they can apply for family reunification on your behalf. You must be a spouse, dependent child, or dependent parent of a Spanish resident or citizen. If you are a family member of an EU citizen, you can also apply for temporary residence in Spain.

How to Get Integrated in the Spanish Society

Getting integrated into Spanish society as an Indian expatriate is a rewarding experience but also comes with its challenges. Here is how you can make your life easier in a new country.

1. Learn the language. While English is spoken in some urban areas, especially by the younger generation, speaking Spanish will greatly enhance your ability to communicate and connect with locals. Enroll in Spanish language classes, use language learning apps, and practice speaking with native speakers.

2. Understand Spanish culture. Take the time to familiarize yourself with Spanish culture, traditions, and social norms. Learn about meal times, local customs, and holidays. Be open to embracing Spanish culture and participating in local festivities and events.

Spanish residence permit for Indian citizens

Spanish people have many festivals throughout the year in different parts of the country. For example, the Feria de Primavera held in Rota

3. Make local friends. Join local clubs, hobby groups, or community organizations to meet people who share your interests. Engage in conversations, attend social events, and be open to making new friends.

4. Respect local customs and etiquette. Show respect for Spanish customs, traditions, and etiquette. Learn how to address people in formal and informal situations. Understand the importance of punctuality and politeness in social interactions.

5. Explore local cuisine. Spanish cuisine is diverse and delicious. Try local dishes and explore the culinary culture. Dining out is a great way to experience the local flavours and meet people. Don’t be shy about trying new foods, and be open to sharing meals with others. And remember: you can never go wrong with Paella Valenciana.

6. Stay informed. Keep up with local news and events to stay informed about what’s happening in Spain. This will help you know about local issues and interests and engage in conversations.

7. Stay patient and persistent. Integration takes time, so be patient with yourself and the process. Don’t get discouraged by initial challenges or language barriers. Keep making efforts to connect with people and adapt to the culture.

8. Stay legal. Know your legal rights and responsibilities as an expatriate in Spain. Keep your paperwork in order, such as your residence permit and tax obligations.

Key Takeaways

Indians can obtain Spanish residency by investment. The minimum sum is €500,000.

To qualify, an applicant must be over 18, buy health insurance, have a legal income and be able to prove it, have no criminal records or prosecutions and no debts in Spain. Another requirement is to have at least €28,800 in their bank account.

The process of obtaining a Spain residence permit takes around 5 months.

There are also types of residency visas: for studying, working, reunification with a family, financially independent people and digital nomads.

Among Spain’s benefits are access to the Schengen Area, high quality of life, education and healthcare, diverse job opportunities, cultural richness, political stability and safety.

Frequently Asked Questions

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