Spain Golden Visa (Investor Visa Program)
The Golden Visa is an ideal visa option for those wishing to make significant capital investments into the country to obtain permanent residency in Spain.
Golden visas are still being accepted but under limited terms. To discuss your circumstances and find out whether you are eligible, contact our team of expert immigration lawyers online, or call us on +1 844 290 6312.
What is the Spanish Golden Visa Program?
The Spain Golden Visa program has since 2013 been a pathway for non-EU nationals to obtain a visa to reside, work, study, and invest capital into Spain, and also travel freely within the Schengen zone. Having this visa for 5 years allows you to eventually apply for permanent residency, and after 10 years, you can apply for Spanish citizenship through naturalization.
Many European countries have had Golden visas or similar types of visa to encourage non-EU nationals to move to their country by making a significant financial contribution into the country’s economy, through the likes of a property investment program or capital investment options.
However, due to certain challenges such as housing shortages and unaffordable homes for local residents, an effort clamp down on potential acts of money laundering, and concerns for national security, Spain, amongst other EU countries such as the Netherlands, Portugal, Ireland, Bulgaria and Latvia, are phasing out their golden visa programs.
The Spanish government intends to stop real estate investment options – which accounts for 94% of the applications – in exchange for the golden visa to reduce pressure on housing challenges in Spain. The Golden Visa program will be discontinued on 3rd April 2025.
Our immigration lawyers can discuss the Golden Visa in Spain and Portugal, as well as pose alternatives for you.
Page Contents
- What is the Spanish Golden Visa Program?
- What is the Eligibility Criteria for the Golden Visa in Spain?
- How To Apply for the Golden Visa Spain?
- What is the Processing Time for Spain Golden Visa?
- Can I Get Permanent Residency in Spain with the Golden Visa?
- How Much Does the Spain Golden Visa Cost?
- How Does Tax Work for Foreign Investors in Spain with the Golden Visa?
- How Total Law Can Help
- FAQs
What is the Eligibility Criteria for the Golden Visa in Spain?
Overview
The eligibility criteria an applicant must meet to obtain a golden visa is dependent on what type of investment options they choose to take. The minimum investment required for the investor visa is at least €500,000 of foreign investments.
In general, all applicants must meet the following baseline criteria:
- They are 18 years old or above
- They have a valid passport
- Have no criminal record in the past 5 years, and not have broken Spanish, Schengen zone, EU, or international immigration law
- Have provable sufficient funds to reside in Spain without working, and be able to financially support any dependent family members applying with them
- Meet the investment criteria for the investment route of their choosing
- Prove they do not have a medical condition that is a threat to public health
- Prove they have public or private health insurance that valid for the duration of their visa period and covering a minimum of €30,000 of medical expenses
- Have not received a Spain visa refusal in the past.
Eligibility Criteria for Real Estate Investment
To be eligible for the Golden visa via real estate investment, the applicant must:
- Make a Spanish real estate investment of €500,000 (approximately $760,000 CAD) into commercial or residential property, or a combination of the two.
Applicants can:
- Combine their investment with multiple buyers for one property
- Intend to rent out the property
- Mortgage a property exceeding €500,000.
Eligibility Criteria for Business Development
To be eligible for the Golden visa Spain via business development, the applicant must:
- Make a minimum investment of €1 million (approximately $1.5 million CAD)
- Prove their investment will create jobs, contribute to the socio-economic development of Spain, or expand on technological or scientific innovation in Spain.
Eligibility Criteria for Capital Investment/Capital Transfer
To be eligible for the Spain Golden visa via capital investment, the applicant must:
- Make a significant capital investment of €1 million (approximately $1.5 million CAD).
Applicants can invest in:
- Spanish Government bonds
- Shares of Spanish companies
- Deposit into Spanish financial institutions.
Eligibility Criteria for Public Debt
To be eligible for the Spanish Golden visa through Spanish public debt securities, the applicant must:
- Make a significant investment of €2 million (approximately $3 million CAD).
Applicants can invest in:
- Bonds
- Treasury bills
- Government bonds investment and government securities.
Closed Investment Funds or Venture Capital funds
To be eligible for the Golden visa through closed investment funds or venture capital funds, the applicant must:
- Make a minimum investment amount of €1 million (approximately $1.5 million CAD).
Applicants can invest in:
- high-risk, high-reward start up businesses or early-stage companies.
Shares or Participation in Spanish Companies
To be eligible for the Golden visa through purchasing shares in Spanish companies, the applicant must:
- Make an initial investment of €1 million (approximately $1.5 million CAD).
Applicants can invest in:
- Listed or unlisted shares with proof of investment.
Bank Deposits
To be eligible for the Golden visa in Spain through bank deposits, the applicant must:
- Make a minimum investment of €1 million (approximately $1.5 million CAD) into a valid Spanish bank or financial institution.
Start a Business
To be eligible for the Spanish Golden visa through starting a new business, the applicant must:
- Submit a business plan that proves it will create jobs, contribute to technological or scientific innovation, and have a positive socio-economic impact.
No minimum investment is required for this route.
How To Apply for the Golden Visa Spain?
Overview
To apply for the Golden visa in Spain, you must first ensure that you:
- Meet all the eligibility criteria requirements for the investment route you intend to take
- Gather all required documents
- Translate all documents into Spanish.
Once you have done all of the above, you can then book an appointment at your nearest Spanish embassy or consulate. You will need to submit all of your documents, and provide biometric data (face image and fingerprints).
Please note, there are only five Spanish consulates in Canada, and so you may be required to undertake significant travel in order to submit your visa application.
Spanish Embassies and Consulates in Spain
To apply for a Spanish golden visa as a Canadian citizen, you must apply from Canada and book an appointment at one of the following locations:
Spain Embassy, Ottawa
74, Stanley Avenue
Ottawa, On
K1M 1P4
Spain Consulate General and Promotion Center, Montreal
1200 Avenue Mcgill College,
Suite 2025
Montreal, Qc
H3B 4G7
Spain Consulate General and Promotion Center, Toronto
2 Bloor Street East,
Suite 1201
Toronto On
M4W 1A8
Spain Consulate General, Vancouver
2185 Capilano Road
North Vancouver (B.C.)
British Columbia
V7P 3C1
Spain Consulate General, Winnipeg
788 Coventry Road
Winnipeg, Mb
R3R 1B7
What is the Processing Time for Spain Golden Visa?
Usually, an application for the Spain Golden Visa Program takes approximately 3 weeks to process. Please note, the golden visa process could take significantly longer depending on factors such as busy processing periods, whether there are any issues with your documents or application, or whether you are called in for a second interview. Securing your investment may take months or years – so we advise that you have secured an agreement before submitting any application for the golden visa.
Once you have been approved, you will be given a temporary residence permit (TIE), which in most cases is valid for up to 1 year with the ability to extend for up to 3 years. With the visa approved, you will be able to make arrangements to move to Spain.
Can I Get Permanent Residency in Spain with the Golden Visa?
Yes, if you are approved for a Golden visa in Spain you will be eligible for Spanish residency after 5 years.
When you first obtain the Golden visa, you will be given a temporary residence permit (TIE) which is valid for up to one year. Once this first permit ends, you will need to renew your visa and permit which will then be valid for up to three years. After this, you are able to renew the permit another year and after 5 years you can obtain residency in Spain on a permanent basis.
Each time you renew your visa, you will need to demonstrate that you still meet the eligibility criteria for the Golden visa and have maintained your investments.
How Much Does the Spain Golden Visa Cost?
The Spain Golden visa processing fee is approximately €80. However, due to the scale of investments being made into the country, there are large costs that mean that in general, one applicant should expect to pay between €4000-€9000 including legal representation. The cost to bring your family will be significantly higher.
In general, the visa renewal fees are cheaper, at around €3000.
When applying for the golden visa and considering your investment options, you must ensure that you account for any taxes and additional fees that will be incurred as part of your investment. These include:
- VAT
- Property transfer tax
- Notary fees
- Registration costs.
None of the above includes any travel costs that will be involved in travelling to and from your appointment with the Spanish consulate, any printing or translation costs, and other forms of legal representation or travel that may be incurred during the application process.
Due to the large sums of money being invested in order to obtain a Spanish golden visa, it is highly recommended that you hire legal representation to support you through the process. We can help – contact Total Law online today or call us on +1 844 290 6312.
How Does Tax Work for Foreign Investors in Spain with the Golden Visa?
Whether or not you are valid as a tax resident in Spain depends on the length of your visa and how much time you spend per year in the country.
Generally speaking, if you are in Spain for more than 6 months per year you will be considered a resident in Spain and will be subject to tax on your worldwide income. If you spend less time than 180 days per year, then you may not be considered a Spanish resident for tax purposes.
However, any investments and income earned in Spain will be subject to tax.
How Total Law Can Help
Applying for the golden visa is an exciting process for many Canadians who wish to begin a new chapter in Spain, or who wish to participate in and contribute to the Spanish economy.
However, the investor visa is one of the more complicated Spanish visa applications, and it is very difficult to navigate alone, particularly if you intend to bring your family members with you.
That’s why Total Law exists. We have a team of expert immigration lawyers who can guide, support and represent you throughout the process. If you wish to chat to one of our team about your Golden visa application, you can contact us online or call us today on +1 844 290 6312. We are here to help.
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By choosing our Appeal Package, you can rely on our lawyers’ legal knowledge and experience to ensure you have the highest chance of a successful appeal. We will also fully represent you in any hearings/tribunals.
Related pages for your continued reading.
FAQs
Yes. Individuals applying for the golden visa may include their immediate family members as part of their visa application.
The following relations are eligible as golden visa dependent applicants:
- Spouses or common-law partners
- Dependent children under 21
- Elderly parents who are financially dependent on the applicant.
Each family member must pass a criminal background check and submit a medical certificate proving they don’t have a condition that is a threat to public health. Each applicant must also be covered by a comprehensive health insurance policy.
Yes. The Spanish government announced in 2024 that it intends to phase out its Golden visa program with regards to property purchasing and investments. This is to ease the pressure on the Spanish property market and to open up better opportunities for Spanish residents to purchase a home.
However, as of September 2024 the Golden visa is still open to new applicants and can be applied for by Canadian nationals and other non-EU citizens.
Spain does not offer a quick route to permanent residency through its visa programs. However, if you obtain the golden visa or any other type ‘D’ visa for Spain, temporary residence permits are provided by the Spanish authorities.
After 5 years of legal residency in Spain, you will then be eligible for permanent residence status. After 10 years in Spain and assuming you meet all of the criteria, you will then be eligible for Spanish citizenship.
In order to gain a temporary residence visa in Spain through the golden visa, you will need to invest a minimum of €500,000 (approximately $760,000 CAD) into commercial or residential property, or a minimum of €1 million (approximately $1.5 million CAD) if you take a different qualifying investment route.
