What is Golden Visa in Spain?

Golden Visa is a program that allows non-EU nationals for acquiring 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.
• Rental yield is high and offers a high potential for investors.
• The Spanish economy is the fastest growing economy among European countries.
• There are lots of sports activities, such as football, basketball, golf, tennis, surf, many.

Visit our blog Top Reasons for Buying Property in Spain for more!

What Does Spanish Golden Visa Provide?

• Travel freely between Schengen countries,
• Work permits and residency permits in Spain
• Spouses, children under 18 years old, and depended children over 18 years old also receive the visa, too,
• The right to benefit from public education and healthcare services,
• The right to apply for permanent residency in Spain and then for Spanish citizenship,
• Opportunity to earn rental yield by renting investment real estate,
• Exemption from double taxation. You do not pay taxes on your investments or revenues from outside of Spain as long as you live outside of Spain.

Who Can Apply for Golden Visa in Spain?

• Non-EU citizens over 18 years old,
• Those who have no criminal record,
• Those who have not been denied entry to any of the Schengen countries,
• Those who are not in an illegal situation in Spain

How to Get 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. This investment must be maintained for at least five years.
• 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.

What Do I Need for a Golden Visa in Spain?

• Passport valid for at least one more year
• Marriage certificates and/or birth certificates in case of an application for spouse and children
• Health insurance documents valid in Spain
• Criminal record
• Proof of sufficient resources
• Proof of investment (in case of real estate; title deed or property registration document)

How to Get a Golden Visa (Step by Step):

1. Choose Your Investment Option: Decide on the type of the investment you want to make. It may be one of these options such as real estate, government bonds, shares in spanish companies and business development
2. Complete the chosen investment: Ensure that all legal requirements are met.
3. Open a Spanish Bank Account and Obtain an NIE: This step is necessary for financial transactions and legal processes.
4. Prepare Required Documentations and Submit Application: Gather all necessary documents and submit your application at the nearest Spanish consulate or embassy within three months of making your investment. You can apply personally or through a legal representative.
5. Biometric Data Submission: Once your application is approved, you will need to travel to Spain to provide fingerprints and photographs as well. This step typically occurs within two months after your application submission.
6. Receive Your Golden Visa: After approval, which takes usually around 20 days after biometric data submission, you will receive a one-year multiple-entry visa stamped in your passport, which allows you to live, work, and study in Spain, as well as travel throughout the Schengen Area. Living in Spain after Golden Visa offers benefits, particularly regarding residency and potential citizenship.
7. Apply for Residence Permit: Within one year of receiving your Golden Visa, you may apply for a three-year residence permit in Spain.
8. Attend Biometric Collection for Residence Card: After applying for the residence permit, attend an appointment in Spain to collect your residence. The residence permit is valid for three years and can be renewed indefinitely as long as you maintain your real estate investment and meet residency requirements.
9. Apply for Citizenship (Optional): After ten years of residency in Spain, you will be able to apply for Spanish citizenship.

When Does the Golden Visa Opportunity Expire?

According to the new regulation published by the Spanish government, due to domestic housing difficulties in Spain, the Golden Visa is set to end on April 3, 2025. Non-EU nationals have time to apply for the visa until the date. You may read our article to have further information about when Spain's Golden Visa is Ending.

If you are interested in getting a Golden Visa in order to take advantage of Spain residency with investment benefits, your new home abroad can be bought by the end of March, and your applications should be submitted before April 3, 2025. Then it will be processed if all requirements are met.

Spain continues to maintain its position as one of the leading countries for living, vacationing, and investment and even though the Golden Visa expires,the country offers various alternative Spain residency options to non-EU nationals to apply for, depending on the purpose and duration of the intended stay. Here’s an overview of Spain's immigration pathways.

Golden Visa Alternatives include:

• Non-Lucrative Visa in Spain: For retirees or self-sufficient individuals who want to live in Spain without working. Requires proof of around 28.800€ per year. Valid for one year, renewable up to four years.
• Digital Nomad Visa in Spain: For remote workers earning mostly from outside Spain. Valid for one year, with renewal options.
• Entrepreneur Visa in Spain: For those starting or investing in a business that benefits Spain’s economy. Requires a solid business plan and financial resources.
• Family Reunification Visa: For those joining family members who are EU citizens or Spanish residents.
• Work Visa: Requires a job offer from a Spanish employer, who must sponsor the application.
• Student Visa: For students attending an educational program in Spain for over three months.

You may read our The Essential Spanish Visa Guide article for the details of Spanish Visa Programs.

Frequently Asked Questions about Spanish Golden Visa

Q: How long does it take to get a Spanish Golden Visa?
A: The decision process will take 15-20 days after all documents are ready.

Q: How long is the Golden Visa issued?
A: The application for the Golden Visa is a two-step application process. In the first step, you get an investor visa for one year. At the end of the first year, you will receive a Golden Visa (Spanish Investor Visa) for 3 years.

At the end of the third year, you can renew and extend your residence permit at five-year intervals, as long as you continue to keep your investment in Spain. After 10 years of regular residence in Spain, you can apply for citizenship.

Q: Do I need to come to Spain in person for a Golden Visa application?
A: No. You do not need to come for the first application. You can work with a reliable company and an authorized lawyer to follow the process safely and easily.

And yes. Once you have your first Visa, you will need to visit Spain in person to apply for a Residence Permit. It will also be the case for your family members if you apply as a family.

Q: How long do I have to stay in Spain to retain my Golden Visa?
A: You only need to travel to Spain for one day to obtain and renew your residence permit. You do not need to live in Spain for a certain period of time to retain your Golden Visa. If you want to apply for Spanish citizenship, you must spend at least 183 days per year in Spain.

Q: How long does my Spanish Golden Visa last? Can I lose my residence permit?
A: You can maintain your Golden Visa by renewing your residence permit in the specified periods. It is valid as long as you do not sell your property in Spain or liquidate your investment.

Q: Can I get a mortgage for my Golden Visa investment in Spain?
A: You must invest in real estate worth at least 500.000 € with your resources. If the value of your investment is higher, you can apply for a mortgage for the excess.

Q: Can I apply for Spain Golden Visa as a joint investment?
A: The value is determined as an individual investment. Therefore, each investor must meet the minimum requirement individually.

Q: Can I work in Spain with Golden Visa?
A: Yes. Obtaining a Golden Visa in Spain provides a work permit.

Q: Does buying commercial properties also qualify for the visa?
A: Yes, buying commercial properties such as hotels and office spaces qualifies for the Spanish Golden Visa. The minimum investment required for real estate, whether residential or commercial, is €500,000. This investment can be made in a single property or multiple properties, and it may also include a combination of residential and commercial real estate

Q:What are the most attractive regions for Golden Visa?
A:Madrid, Barcelona, Valencia, Marbella, and the Canary Islands are among the regions that attract the investors for Golden Visa.

For further information and investment opportunities with Golden Visa, you may contact our expert team.