Spain's Golden Visa program grants residency to non-EU nationals who make a significant investment in Spain. Real estate investment remains the most popular route, with a minimum threshold of EUR 500,000.
Program Overview
Introduced in 2013 under Spain's Entrepreneur Support Act, the Golden Visa allows non-EU investors and their families to obtain a Spanish residence permit. The program has been popular due to Spain's quality of life, climate, healthcare system, and the property investment route. Note: The Spanish government has announced plans to potentially discontinue the program, so applicants should verify current availability.
Investment Options
- Real estate: Minimum EUR 500,000 in Spanish property (one or multiple properties; the minimum must be held free of any mortgage).
- Financial assets: EUR 1,000,000 in Spanish company shares, investment funds, or bank deposits.
- Government bonds: EUR 2,000,000 in Spanish public debt instruments.
- Business project: A business project deemed of general interest in Spain, assessed on job creation, socioeconomic impact, and innovation.
Eligibility Requirements
- Non-EU/EEA/Swiss national aged 18 or older
- Clean criminal record in Spain and countries of previous residence
- No entry bans or history of irregular stays in Spain
- Valid health insurance covering Spain
- Sufficient financial means beyond the investment amount
- Proof of qualifying investment
Benefits
- Initial 1-year visa, then 2-year renewable residence permits
- Visa-free travel throughout the Schengen Area
- Include spouse, children under 18 (or dependent adult children), and dependent parents
- Right to live and work in Spain
- Access to Spanish education and healthcare systems
- No minimum stay requirement to maintain status
- Path to permanent residency after 5 years
- Path to citizenship after 10 years of legal residency
Application Process
- Complete the qualifying investment in Spain.
- Obtain a NIE (Foreigner's Identity Number) and open a Spanish bank account.
- Apply for the initial Golden Visa at a Spanish consulate abroad or at the Large Business Unit in Spain.
- Submit all required documentation including investment proof, criminal record, insurance, and financial means.
- Attend a biometrics appointment.
- Receive the initial visa (1 year), then apply for the residence permit in Spain.
- Renew the residence permit every 2 years as long as the investment is maintained.
Fees
Visa application fee: approximately EUR 80. Residence permit fees vary. Additional costs include property taxes (6 to 10% transfer tax for resale; 10% VAT for new builds), notary fees, registry fees, and legal costs. Budget 10 to 15% of the property value for total acquisition costs.
Processing Time
The initial visa is typically processed within 10 to 20 business days. Residence permit applications in Spain take 1 to 3 months. Working with an immigration lawyer can help streamline the process.
Frequently Asked Questions
Is the Spain Golden Visa being cancelled?
The Spanish government has announced intentions to end the Golden Visa program's real estate route due to housing market concerns. However, as of now, the program remains active. Applicants should monitor official announcements and consider applying promptly if interested.
Can I rent out my Golden Visa property?
Yes. You can rent out your property and earn rental income. This is a common strategy to offset investment costs. Both long-term and short-term rentals are permitted, subject to local regulations.
How long until I can get Spanish citizenship?
Spanish citizenship through naturalization requires 10 years of legal and continuous residency. Citizens of Latin American countries, Andorra, Philippines, Equatorial Guinea, or Portugal may qualify after just 2 years.