The pandemic has changed many things in the world but perhaps more than anything, it has transformed our perception of where we live. Never before has the need to move been so strong in so many people. And never before have travel restrictions been so tight and made it such a challenge to move. It’s therefore unsurprisingly that this scenario has brought residency and citizenship by investment to the forefront. In this article, we look at the benefits of this concept.
Why is residency and citizenship by investment so popular at the moment?
Several reasons lie behind the surge in the popularity of residency and citizenship by investment (RCBI) https://www.expat.com/en/expat-mag/5439-the-importance-of-citizenship-by-investment-in-the-covid-19-era.html. Some are perennial while others are a direct result of Covid 19.
The need to move
Lockdowns have led us to reevaluate where we live. And in many cases, our surroundings have not lived up to the new assessment. As a result, many of us want to move, not just within our home country but to another one altogether. Residency and citizenship by investment can facilitate the process.
Travel restrictions
Over the last 18 months, many countries have banned entry to all but their own citizens. Spain did just that between December 2020 and May 2021 when the Spanish government denied entry to British nationals unless they were residents in Spain. In this type of situation, having dual residency or citizenship through an investment program obviously facilitates travel.
Brexit
Political developments also lead people to want to move country but without severing all ties with their homeland. Brexit is one such example – many British nationals prefer the freedom of dual residency that allows them to keep one foot in the EU.
Read about Brexit preparations in Spain.
Ease of travel
RCBI facilitates travel because you can take advantage of the different visa options offered by each of your residency and citizenship permits. For instance, residency in an EU country allows you to travel visa-free within the Schengen zone.
Did you know? According to the Henley and Partners Passport Index 2020, a Spanish passport is the fifth-best in the world.
What is RCBI?
In a nutshell, RCBI exchanges investment on your part for residency and citizenship benefits. The concept emerged in St Kitts and Nevis in 1984 and since then, over half the world’s 195 countries have adopted the scheme.
Investment typically takes the form of an injection of cash into a business project, purchase of property or buying public debt or shares in national companies. In return, the investor receives a residence permit, usually extended to family members as well, with the option of citizenship at a later date.
Who can get residency and citizenship by investment?
Anyone with enough funds. RCBI programs typically involve large sums of money, although the exact amount depends on the country.
In Spain, the least expensive option is the so-called Golden Visa that requires you to invest a minimum of €500,000 in the property.
Did you know? Spain issues 324 Golden Visas in the first seven months of 2021, almost equal to those issued in the whole of 2020 (394), proving the popularity of this type of investment visa in Spain.
What about RCBI in Spain?
Spain currently offers several options for residency and citizenship by investment. They include:
The Golden Visa – find out more about this type of Spanish visa.
The Entrepreneur Visa – read more information about this type of visa.
How can I get RCBI in Spain?
As with all visa applications, residency and citizenship through investment in Spain involve a complex process. However, you can make the procedure much easier if you use the services of an expert. Not only will you save time and stress, but you’ll also ensure that your application is correct and has the maximum chance of approval as soon as you submit it.
The Costaluz Lawyers team includes experts in all types of residency and citizenship options in Spain including investment visas. Get in touch with us now for a no-obligation quote and to find out how we can help you start enjoying all the benefits of Spanish RCBI.
Maria Luisa Castro
