The desire to "become one of the locals" in one of the EU countries by obtaining a passport has become a widespread trend in Ukraine, Russia, and other former Soviet states. The path to achieving this starts with seeking the necessary information and choosing the right country.

Among these choices, the Kingdom of Spain is one of the most frequent decisions made by foreign investors. The reason is its wonderful climate and friendly residents. Most importantly, Spain has a long-standing and successful investment program allows one to obtain a Spanish passport eventually.

The role of this country in international relations should not be underestimated. Spain is a participant in many organizations, and an active player on the world stage, with peace being a priority in its foreign policy. Like all countries in the European Union, Spain grants its citizens broad rights and opportunities that extend beyond its borders.

A Spanish Passport — A Ticket to a Comfortable Life

Our experts highlight several key benefits of citizenship in the kingdom:

  • Visa-free travel across EU countries and the Schengen area;
  • Access to education in the best institutions in Europe;
  • Access to qualified medical care;
  • The ability to open accounts in the most reliable banks;
  • Conducting business with minimal tax burdens.

Ways to Obtain Citizenship

As in most European countries, traditional methods of acquiring citizenship in Spain include naturalization, by right of blood, or through investment.

If you do not have family ties or Spanish ancestry, this process will take quite some time. It's important to note the drawbacks of naturalization as a mechanism for obtaining citizenship. Firstly, there is no provision for family participation in the program. Another requirement is that the applicant must continually justify the necessity of their stay in the country. Lastly, the state does not guarantee a positive response to the citizenship application.

How to Obtain Spanish Citizenship for Citizens of Russia or Other CIS Countries

The conditions for Russians are almost identical to those applied to nationals from other CIS countries. Spanish law provides four main ways to achieve this goal:

  1. Citizenship by investment.
  2. Citizenship by descent (option).
  3. Naturalization.
  4. By decision of the state.

These options vary significantly in their features, though they share common traits. However, our center focuses exclusively on investment immigration, so we will provide a detailed review of the first option — obtaining Spanish citizenship through investment.

The "Golden Visa" and Citizenship Prospects

Currently, the most reliable and sought-after method remains the step-by-step approach to obtaining citizenship through investment, which involves securing temporary and permanent residency. It is impossible to simply buy a Spanish passport; offers of this kind should be regarded as fraud.

Spain's immigration policy aims to attract foreign capital. The official concept of a "Golden Visa" was introduced in legal documents back in 2013. Since then, the legislation has been revised multiple times, improving the mechanism and protecting society from the influx of capital of questionable origin.

Residence Permit

Eligible investments:

  • Purchase of real estate or land valued at a minimum of €500,000;
  • Investment in existing companies within the country (from €1 million) or the establishment of one's own business, creating jobs;
  • Purchase of government bonds worth at least €2 million;
  • I was opening a bank account in a local bank with a deposit of at least €1 million.

An additional advantage is the returnability of the investment. The safest option is considered to be purchasing real estate, as this type of capital investment carries minimal risk.

Permanent Residency

Holders of a residence permit card may apply for permanent residency after 5 years. The determining factor in granting permanent residency will be the fulfillment of mandatory conditions.

Applicant requirements:

  • Staying in the country for at least 6 months per year;
  • A desire to become part of Spanish society was demonstrated through gradual integration.

Citizenship

After 5 years (a total of 10 years from the time of obtaining the residence permit), the applicant may apply for citizenship. The requirements remain the same. Signs of social integration include:

  • Learning the language;
  • Enrolling children in local educational institutions;
  • Receiving medical care in Spanish clinics;
  • Paying taxes, etc.

Obtaining a Spanish passport? — It is possible, but not immediately.

Why is this observation accurate? The fact is that the Kingdom's government has not developed a special program allowing the direct sale of citizenship, as Malta, for example, has done. Spain has a long-standing and quite successful program, the main goal of which is to issue so-called Golden Visas, or simply, residence permits. It was adopted back in 2013 and has since become one of the most well-known and sought-after in the EU. At one point, it even outpaced its main competitor — Portugal's Golden Visa program — in terms of the number of visas issued.

It is precisely the Golden Visa program that is used by investors planning to obtain Spanish citizenship in the future.

Obtaining a Spanish Passport in 2020

A country with strong economic indicators has positive forecasts for 2020. The construction sector is actively developing, expanding the range of investment opportunities. Among our center's clients, real estate purchases remain the primary focus for financial investments. Spain is a tourist country, so renting out property can be quite profitable.

To properly assess the market and make the right choice, professional assistance is essential. Accredited agents will help you at every stage, from document preparation to submission, and will also protect you from many risks and unnecessary worries.

How to Transition from a Golden Visa to Citizenship. The Procedure Steps.

An applicant wishing to obtain a Spanish passport must first fulfill the necessary financial and other conditions and become a residence permit cardholder. Subsequently, after continuously holding this status for at least 5 years, they can apply for permanent residency.

If permanent residency status is granted, the investor must maintain it for another 5 years before they can apply for Spanish citizenship. Meanwhile, they must meet several important requirements:

  • Reside in Spain with permanent residency status for at least 183 days a year;
  • Possess a DELE diploma certifying knowledge of the language;
  • Pass an "integration test" demonstrating familiarity with the country’s culture and history;
  • The total "residency period" in residence permit and permanent residency status must be at least 10 years.

But how does one obtain residency status (Golden Visa) to eventually buy Spanish citizenship through investment?

Options in the Spanish Golden Visa Program

To become a holder of a Golden Visa, the applicant must make one of the following investments:

  1. Purchase property in the country worth at least €500,000.
  2. Open a deposit in a Spanish bank from €1 million, which can be replaced with the purchase of government bonds or investments in various local investment funds for the same amount.
  3. Buy government bonds of the Kingdom totaling at least €2 million.
  4. Present a business project to the Directorate General for Trade and Investment for opening a company in Spain. This option has no strict minimum investment requirement, but it must:
    • Create new jobs for citizens;
    • Be beneficial to the economy of the region where it is registered;
    • Utilize modern technological approaches and be environmentally friendly.

Practice shows that the last option typically requires an amount ranging from €0.5 to €1 million.

Brief Analysis of the Proposed Options: Who Benefits?

Spanish Citizenship by Real Estate Purchase: This is the most popular option, used by at least 90% of applicants. The reason lies not only in its cost-effectiveness (though this is important), but also in the fact that the invested funds can eventually be recovered. Real estate can be rented out, or resold, thus generating profit. It can be sold outright only after obtaining permanent residency status.

Important Note: When acquiring Spanish citizenship by purchasing real estate, you can use not only personal funds but also the money of a company owned by the investor. It is also permissible to use a mortgage, but one taken outside of Spain.

The second and third options are the most expensive, but they are the most "trouble-free," not burdening the investor with any unnecessary concerns. Spanish citizenship through the purchase of securities is suitable for investors who value peace of mind and minimal hassle over temporarily "frozen" funds, which can still be recovered after 5-6 years.

If Spanish citizenship through real estate purchase is the most common option, the option based on a business project is quite rare. It suits those active and determined entrepreneurs who usually already have good business connections and business experience in Spain.

We have reviewed the main options of the Spanish program and learned how much Spanish citizenship costs. Now it’s time to clarify what preferences an investor receives by acquiring second citizenship in Spain.

By Acquiring Spanish Citizenship, You Get:

  • The prospect of living in a well-developed European country with a warm climate and beautiful, diverse nature;
  • The right to become a full-fledged resident of the Kingdom of Spain, to work and earn a decent salary there;
  • The opportunity to be protected by a reliable legal system that meets the best European standards;
  • The chance to take advantage of all existing benefits and allowances if they are due to you under local law;
  • The right to bring close relatives: minor children, spouse, or parents of the main applicant if they are dependents;
  • The ability to travel visa-free to most regions of the world;
  • The prospect of educating your children in European universities.

Dual Citizenship Between Russia and Spain: Legal Nuances

Consultants at our immigration center GARANT.in often receive this question from clients: "Is dual citizenship allowed in Spain?" This question mostly interests Russian citizens, though nationals from other CIS countries will also find the answer relevant.

In principle, the laws of the Kingdom allow for dual citizenship in Spain. However, this applies only to citizens of those countries with which Spain has signed a mutual agreement. Neither Russia nor any other former Soviet states have signed such agreements with Spain.

For Russian citizens, obtaining Spanish citizenship will always mean acquiring not dual citizenship but a second citizenship. What does this entail?

Spanish Citizenship for Russians: Specifics of Second Citizenship

If an investor, a Russian citizen, fulfills all the conditions mentioned above, buys property in Spain, and obtains citizenship, they will be required to sign a renunciation of their Russian passport. The nuance is that this action will be significant only for Spanish officials. The renunciation will have no legal force in Russia, as there is a specific procedure for renouncing citizenship there.

How to Obtain Dual Citizenship Between Russia and Spain?

Based on the information provided above, this is legally impossible. A Russian citizen who acquires Spanish citizenship will always end up with only a second citizenship.

Spanish Citizenship for Russians: Investor Requirements

The main set of requirements is similar to those for obtaining citizenship in many other countries. The full content can be found on our website GARANT.in, but the main points are as follows:

  • Be at least 18 years old;
  • Provide documents confirming health insurance;
  • Have no criminal record in your country;
  • Prove ownership or rental of property in Spain;
  • Demonstrate a stable monthly income of at least €2,600 per family member;
  • Pass a background check and prove that you do not pose a threat to the national interests of the Kingdom.

Conclusion

  • Obtaining citizenship in Spain by purchasing real estate in 2020 will likely remain the most popular investment option.
  • Citizenship in Spain through investment can only be obtained after 10 years, following the steps of the Golden Visa (residence permit) and permanent residency.
  • Russian citizens cannot obtain dual citizenship in Spain. The option available to them is second citizenship (a second passport).
  • In the end, after obtaining permanent residency, the investor will, in most cases, have the opportunity to recover the invested funds, except for various fees and taxes. The citizenship acquired after 10 years will be a kind of "gift" for the applicant.