Spanish Golden Visa

What is a Golden Visa?

The Golden Visa program is an investment program respected in many EU countries including Spain. It enables obtaining permanent residence permit or citizenship for foreigners if they meet conditions such as purchasing real estate or government bonds. It is also a program for people from outside the European Union who would like to pursue their career and life goals in Europe, e.g. work or study.
Currently, golden visas can be obtained in 20 countries. These include Spain, Poland, Switzerland, Czech Republic, Romania, Greece, Portugal, France, Croatia, Austria, Belgium, Bulgaria, Ireland, Slovakia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta.

Golden Visa in Spain in 2024

For 2024, the Golden Visa still entitles citizens from outside the EU to obtain resident status and allows permanent residence in Spain in exchange for helping improve the country’s economic quality, e.g. through investing in the purchase of real estate or investments that will feed the country’s budget.

People can apply for permanent residence in Spain after 5 years of temporary residence. However, after 10 years of permanent residence, you can apply for Spanish citizenship in the naturalization process, provided that you meet certain conditions.

Criteria for obtaining the Golden Visa program

To obtain a Golden Visa, you must meet one of the financial conditions. You can invest 500,000 euros in real estate, 2 million euros in Spanish government bonds or 1 million euros in shares of Spanish companies. In addition to financial outlays, you must also meet the following conditions.
Detailed criteria

• You must be 18 years old
• You have not been convicted in the last 5 years
• You are not on the list of undesirable persons
• You are not an illegal resident of Spain
• You have private health insurance covering the costs of your stay
• You are able to prove that you have sufficient means to support yourself without working in Spain.
• You have not been denied residence rights in some other countries or in Spain.
• You do not suffer from any of the diseases listed in the 2005 regulation.

Golden Visa investment options in Spain

Learn about several investment options to obtain a Golden Visa in Spain.

Real estate investments in Spain

Real estate investment is the cheapest option for obtaining a golden visa in Spain. The currently set amount is 500,000 euros.

The money can be allocated to residential, commercial property or both, and it can be rented out. Different buyers can also combine their investments in one property, and any amount exceeding the minimum investment can be mortgaged. Our real estate office in Spain will allow you to find an investment meeting the Golden Visa conditions.

Government bonds

Government bonds impose a minimum financial threshold of 2 million euros. Due to financial security, this is a popular option among applicants, supported by the government. This safe form of investment helps obtain competitive returns.

Development of Spanish companies

Business development aims to directly help the Spanish economy. This option reserves several conditions, and the minimum financial requirement is 1 million euros. You must create employment that will have a socio-economic impact on the country and contribute to scientific or technological innovation.

3 simple steps to obtain a Golden Visa in Spain?

The process of obtaining a Golden Visa is not complicated. In 3 steps we will show you how to obtain it and suggest what documents the applicant should submit with the application.
Step 1. Choose one of the investment options presented in the table above and prepare a visa application at the embassy or consulate of the destination country.
Step 2. Provide the required documents to Spanish authorities.
Step 3. Wait for a decision. Receiving a Golden Visa may take up to 20 days from submitting all necessary documents. If you do not receive a decision after this period, it is automatically granted.

What documents are needed to obtain a Golden Visa?

The main requirement for the Golden Visa program is making an investment in Spain. Below we present documents you must provide depending on the type of investment:

1. Real estate: If you invest in real estate, you must submit the Public Sale Deed and Certificate of Domains and Charges, which confirms property ownership, percentage of shares and its value.
2. Equity investments: A statement from the Investment Registry of the Ministry of Economy and a certificate from a financial intermediary registered with the National Securities Market Commission confirming the purchase of shares are required.
3. Public debt: Present a Certificate from the Bank of Spain or other financial institution indicating that you are the sole holder of the investment for at least 5 years.
4. Bank deposits: Certificate from a financial institution confirming that you are the sole holder of the bank deposit.
5. Business project: It is required to obtain a report evaluating the business project as beneficial for the Spanish economy. This document should be obtained before submitting the visa application.

In addition to documents related to the investment, you must provide:

• Application form: Completed Golden Visa form.
• Passport: Copy of passport with at least two blank pages. If you are staying in another country, an additional copy of residence permit will be needed.
• Passport photo: Two current passport photos.
• Health insurance: Confirmation of health insurance from a Spanish insurer. Insurance must be active when renewing the visa.
• Financial means: Bank statements confirming that you have sufficient means to support yourself and your family in Spain.
• Certificate of no criminal record: Document confirming no criminal history, issued by the country where you lived in the last 5 years. The document cannot be older than 3 months at the time of application, unless otherwise specified.
• Visa fee: Proof of payment of the visa application fee, which can be paid by credit card.
• Certificates: Marriage certificate and/or child’s birth certificate in case of applying for a visa with family

How much does a Golden Visa cost in Spain?

The total cost of obtaining a Golden Visa is approximately 4000 – 5000 euros and is divided into two parts. The first part is the initial government fee for submitting the application, while the second part is the fee for its approval.

How long can you stay in Spain with a Golden Visa?

The visa entitles you to one year of residence in Spain. After this time, it is possible to apply for an extension for a period of two years, which can be renewed for subsequent two-year periods, provided that maintenance of the investment is demonstrated. The cost of visa renewal is from 3000 to 4000 euros.

Benefits of having a Golden Visa in Spain

The Golden Visa in Spain is not only an opportunity to settle in one of the most beautiful countries in Europe, but also a number of additional benefits. This program is aimed at investors who can derive both personal and financial benefits from such a decision. In addition to access to the Schengen zone, the Golden Visa also provides access to the Spanish healthcare system and allows for stable future planning within the European Union.

Main benefits of having a Golden Visa:

• Freedom to travel to Schengen zone countries without additional visas.
• Right to legal residence and work in Spain, with the possibility of applying for permanent residence.
• Access to high-quality healthcare and education in Spain.
• Possibility of including immediate family (spouse, children) in the visa program.
• Attractive tax system and investment options that can bring long-term profits.

What are the disadvantages of a Golden Visa?

Although Golden Visa programs can be an attractive way to obtain residency in Spain or another country, they carry certain disadvantages and risks that investors should consider.

Sudden legal changes are another threat – governments of countries may introduce changes in Golden Visa regulations, often without warning, which can negatively affect the investment.

Residency requirements can be difficult to meet – if the investor does not spend the required amount of time in the given country, they may lose resident status.

An important aspect is also taxes – the tax system can be complicated and require additional obligations.

Finally, one cannot ignore political risk or the possibility of fraud, which may involve fraudulent companies offering golden visas.

Is the golden visa still available in Spain?

Currently, the golden visa program in Spain has not yet been formally abolished, but the government has announced its liquidation for citizens from outside the European Union. The decision to end the program was announced by the Spanish government on April 9, 2024, as part of actions aimed at alleviating the housing crisis and limiting speculation on the real estate market. Prime Minister Pedro Sánchez emphasized that the government wants housing to become more accessible to local residents.

Spain has also come under pressure from the European Commission, which wants to limit Golden Visa programs for security reasons. Although the law has not yet been changed and the legislative process is ongoing, investors should be aware that the program may be closed soon.