Spanish Residency is an attractive prospect to those who enjoy the culture, food, history and music of Spain. Under the recently released Spanish fast-track program, those who are not European Union residents can qualify to be approved for residency quickly. Investors, business owners, entrepreneurs, highly qualified professionals and research professionals all have the opportunity to apply under the new program. The level of investment required is a minimum of €500,000 in Spanish real estate or 1 to 2 million in Spanish securities. Applicants should also consider their position as a job candidate on the list of professions in high demand, as defined by the Ministry of Labor. There are also research focal points Spain has designated, which can help those in research fields to qualify. The Entrepreneurial visa is the least restrictive, allowing those with a business plan in an area Spain treats as preferential to receive visa status, without making any financial investments.
The Spanish permanent residency program, even when it is not fast tracked, has the distinction of including a work permit. While the residency visa and work permit are time limited, this is a savings in time and paperwork over many other programs. Those applicants who are accepted students should apply for a student visa. Those applicants who have succeeded in acquiring a visa to work or study in Spain and have lived there for one year can then apply to have their spouses, partners, children and dependent parents join them. A true Spanish Residence Visa requires the holder to give up, or renounce, their previous citizenship in order to become a citizen of Spain. After five years of contiguous residence in Spain, applicants can request permanent resident status. This conveys the rights to work, have family and other benefits of the Residency Visa.