Golden Visa Spain (Investor Visa Program)
The Golden Visa programme is an immigration route to Spain for foreign nationals wishing to make considerable capital investments in the Spanish economy. Spain officially initiated this programme in 2013 to attract non-EU investors to the country.
For more information about the Spain Golden Visa, whether you meet the eligibility criteria, how to apply for the visa and the subsequent residency permit, what supporting documents you may need to submit, and to receive bespoke advice from our expert immigration advisers, call us today on +44 (0) 333 305 9375 or message us online.
What Is a Golden Visa in Spain?
Note – this visa is to be phased out by April 2025, but applicants may still apply until the visa is officially terminated.
A Golden Visa in Spain is a long-term resident visa targeting foreign investors and entrepreneurs. Spain launched its Golden Visa programme in 2013 with a vision to grow the national economy by attracting foreign investments and resources.
As foreign nationals need to make a considerable capital investment in Spain as a prerequisite to applying for this visa route, it is also called an Investor Visa.
Foreign entrepreneurs seeking to establish a business in Spain can also avail of the Golden Visa. Alternatively, a foreign national may choose to invest in an existing business in Spain.
This visa is a viable option to live in Spain for foreign investors and entrepreneurs along with their families.
A Spain Golden Visa holder and their eligible family members can get residence permits in Spain, which will allow them to live, work and study in the country, and will also lead to permanent residency in Spain or even Spanish citizenship eventually.
Page Contents
- What Is a Golden Visa in Spain?
- Benefits of the Spanish Golden Visa
- Am I Eligible to Apply for a Golden Visa Spain?
- Investment Options for Golden visa in Spain
- Documents Requirements for Spain Golden Visa
- How Do I Apply for the Spain Golden Visa?
- Spain Golden Visa Application Processing Time and Cost
- What If My Golden Visa Application Is Refused?
- Dependents on Spain Golden visa
- Golden Visa Validity and Renewal in Spain
- Golden Visa to Permanent Residency and Citizenship in Spain
- How Can Total Law Help?
- Frequently Asked Questions
Benefits of the Spanish Golden Visa
A Golden Visa is a settlement route to Spain, the country which comes with a favourable climate, high-standard education and healthcare infrastructure, social security benefits for residents, an improved legal and justice system, a stable economy and banking system, tax optimisation options, and a friendly community.
The ‘Doing Business 2020’ report puts Spain at the 30th place among 190 economies in the ease of doing business, and states that it is easy to set up a company in Spain or expand your existing business to the country. Such observations from the World Bank also puts Spain in a favourable spot for foreign investors and entrepreneurs.
The Golden Visa route is a long-term residency option in Spain. As a Spanish resident, you can enter and exit the country freely, bring your family members to Spain under the family reunification principles, and obtain visa-free travel access to the EEA countries and Schengen Area.
Moreover, after five years of holding a temporary residence permit in Spain, you will be eligible to apply for a permanent residence permit, which will allow you to continue with all rights and benefits available to Spanish residents without the need to renew your residence permit.
It also paves your way to become a Spanish citizen if you wish to do so. A Spanish citizen will get additional rights in the country such as the right to vote and the right to live, work and study in any of the EU countries. As a citizen of Spain, you can also apply for a Spanish passport that ranks second in the world in terms of global mobility as per the 2024 Passport Index.
Am I Eligible to Apply for a Golden Visa Spain?
Non-EEA (the EU countries, Iceland, Liechtenstein and Norway) or non-Swiss foreign nationals, who can fulfil the investment/business requirements as well as Spanish immigration conditions related to the Investor Visa, may be eligible to apply.
We have discussed in detail the various investment options related to an Investor Visa in Spain in the following section.
EEA/Swiss national investors will not require a Golden Visa for Spain since they are free to invest in Spain or set up a business in the country under the EU freedom of movement principle.
Investment Options for Golden visa in Spain
Overview
To be eligible to apply for a Golden Visa Spain, you will first need to meet certain investment requirements. The Spanish government offers a few investment options for Golden Visa purposes.
We have organised these options into four categories in this article.
In this context, please note that the Spanish government has announced in April 2024 their plans to investigate the Golden Visa programme’s feasibility as a result of rising concerns in the country, particularly on the programme’s impact on real estate prices.
Financial transparency has also been an area of increasing concern.
As a prospective foreign investor in Spain, you must thoroughly understand the current investment guidelines and legal framework of the Investor Visa Program, given that these may impact the Spanish Golden Visa route’s accessibility in future as well as your investment’s viability in the longer term.
Real Estate Investments
One of the most popular investment pathways for the Golden Visa Spain is the real estate investment option. You will need to invest at least €500,000 (excluding applicable taxes) in real estate in the country.
You may buy one large property or multiple small properties to meet this investment requirement for the purpose of obtaining a Golden Visa. It is possible to buy the property(s) as a married couple. However, in that case, one of the spouses may apply for an Investor Visa while the other will have to apply for a visa as a family member of the investor.
If you are considering the real estate investment option, please keep in mind that there will be additional taxes and expenses involved in the purchase, such as the value added tax (VAT), property transfer tax, notary fees, property registration fees, and certain municipal taxes. You will have to budget for such expenses in addition to the €500,000 amount mentioned above.
Please also note that Spain is planning to end the real estate investment option for Golden Visa. If you are considering this investment route, please act before this option is officially terminated.
Capital Investments
You may also consider investing in closed investment funds or venture capital funds in Spain. For the Golden Visa purposes, you will be required to invest a minimum of €1 million.
Both the closed-end investment funds and venture capital funds typically focus on high-risk investments but they also offer potentially higher returns. However, considering the market risks involved, please research thoroughly before investing in these funds.
On the other hand, you may also consider investing in stocks or shares in Spanish companies undertaking actual business activities. The minimum investment amount is €1 million, and you can invest in both listed and unlisted shares.
Government Securities, Bonds and Bank Deposits
If you have at least two million euros to invest in Spain, you can also consider investing in Spanish public debt securities, including bonds, treasury bills, and other government-issued securities. Alternatively, you may invest at least €1 million in bank deposits in Spain to qualify for a Golden Visa.
Investing in public debt or bank deposits can be preferable options for some since they require minimal efforts on the part of the foreign investor to set up and maintain. They also come with a higher level of security (but potentially lower level of return) compared to the capital investment options.
Business Investments
Foreign entrepreneurs may also consider setting up a new business in Spain for the purposes of obtaining a Golden Visa. You will not have to invest any minimum amount for this option, although you must ensure that your proposed business should:
- Bring economic and social benefits to Spain
- Create jobs for domestic workforce
- Have a significant socio-economic impact in the local area
- Contribute notably to scientific or technological innovation
Documents Requirements for Spain Golden Visa
To apply for a Golden Visa in Spain, you will require to submit the following supporting documents:
- Duly signed and completed National visa application form
- A recent passport-size, colour photo
- Current passport issued within the last ten years, with at least one year validity and two blank pages
- Documents accrediting the investment, such as declaration of investment made at the Foreign Investments Registry of the Ministry of Economic Affairs and Digital Transformation, certificate from the financial intermediary registered at the National Securities Market Commission (CNMV) or at Banco de España, bank deposit certificate, certificate from the Land Register and deed of sale etc.
- Proof of sufficient financial means
- Criminal record check certificate
- Health insurance
- Proof of the representative’s identity and capacity if the visa application is submitted through a representative
How Do I Apply for the Spain Golden Visa?
To apply for a Golden Visa, you will have to start with arranging for all your necessary supporting documents and completing the visa application form. You will have to submit your application in person. For minors, a parent or guardian (or a duly accredited representative) can submit on their behalf.
Contact the Spanish embassy or consulate in your home country to make a prior appointment for submitting your application. You might have to attend an interview with a consular officer on the day of your appointment. Please carry all your required documents with you.
If the consulate officer asks for additional documents, you will have to submit them within the deadline mentioned. They will also collect the visa processing fee from you.
Spain Golden Visa Application Processing Time and Cost
Spanish Golden Visa processing is quite an efficient process, with the authorities taking around 10-20 days for arriving at a visa decision. However, the processing time may vary depending on the completeness and accuracy of your visa application and supporting documents.
To avoid any unnecessary delay in processing, kindly ensure that you have filled up the application form completely and correctly, and have submitted all relevant supporting documents along with your visa application.
You will need to pay the required visa fees when submitting your visa application. The fee must be paid in local currency, so the amount is subject to fluctuations due to the constantly changing currency conversion rates. It is advisable to contact your local Spanish embassy/consulate beforehand to ascertain the visa fee amount you will need to pay.
Some of the supporting documents must have a certified translated copy if they are not originally in Spanish. This will come at an additional cost, which may be a significant amount depending on your country of residence.
What If My Golden Visa Application Is Refused?
In case of a Golden Visa refusal, the Spanish immigration authorities will notify you in writing regarding their decision and the reason(s) thereof. You have one month to submit an appeal for reconsideration to your concerned consular office.
An application for judicial review may also be filed with the High Court Justice of Madrid within two months beginning the day following the date of receiving visa refusal notification (or of the reconsideration appeal dismissal).
Dependents on Spain Golden visa
You may be able to include your dependent family members in your Spain Golden Visa application provided they fulfil the immigration requirements. In this context, a family member refers to:
- Spouse/civil partner/unmarried partner
- Children under 16 years of age (both biological or adopted children are allowed)
- Children (both biological or adopted) above 16 if they are dependent on you financially. They must not have created a family unit of their own
- Dependent parents (or parents-in-law) if they are in your care
Golden Visa Validity and Renewal in Spain
If your Spain Golden Visa application is successful, you will be issued a work permit valid for a year. For applicants who have purchased real estate through a deposit contract, the validity of the initial permit is six months. After this period, you will be eligible to apply for a resident permit.
The resident permit is valid for three years and renewable thereafter provided you continue to maintain your respective qualifying investment. You will also need to travel to Spain at least once every year. After five years, you may be eligible to apply for permanent residency in Spain.
Golden Visa to Permanent Residency and Citizenship in Spain
After five years of temporary residence in Spain, the Golden Visa holders and their family members can apply for a permanent residence permit. A permanent residence is issued indefinitely, so they will not need to renew it unlike a temporary residence permit.
After living in Spain continuously for ten years as a permanent resident, you may apply for citizenship by naturalisation provided you have no criminal record and have successfully passed relevant language and cultural exams. If you are from any of the Ibero-American countries or from the Philippines, you may be eligible to apply for Spanish citizenship after two years.
How Can Total Law Help?
The Spain Golden Visa or Investor Visa is a viable route to residency in Spain for foreign investors and entrepreneurs. However, please ensure that you have completed all investment/business related formalities and have the required supporting documentation in place before applying for a Golden Visa.
Even if you meet the eligibility criteria for a Golden Visa for Spain, you must pay due diligence while filling up the relevant application form and arranging for all supporting documents.
Appealing a Golden Visa refusal is not only a lengthy but also an expensive process. It is, therefore, advisable that you focus on getting the application right the first time. As such, please consider consulting an immigration lawyer before and during your Spain Golden Visa application.
Speak to Total Law.
Our team of sympathetic immigration lawyers come with the required expertise and legal knowledge to assist you, even if your circumstances are complex.
If you are seeking overall advice with your Golden Visa application or you would like an immigration expert to complete your application on your behalf, we are happy to help. We offer a document and application checking service, in case you just need us to conduct a final check to confirm that your documents and application adhere to Spanish immigration regulations.
Total Law also has an appeal package if you would need to appeal your visa refusal. To discuss further about how we can help you, reach out to our legal team today on +44 (0) 333 305 9375 or message us online.
Advice Package
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Designed to make your visa application as smooth and stress-free as possible.
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Ensure you have the greatest chance of a successful appeal. We will represent you in any case.
The Advice Package
During this untimed Advice Session with our professional immigration lawyers in London, you will receive our comprehensive advice, completely tailored to your needs and your situation.
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With our Application Package, your dedicated immigration lawyer will advise you on your application process and eligibility. Your caseworker will then complete and submit your forms to the Home Office on your behalf.
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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.
Frequently Asked Questions
Golden Visa holders living in Spain for more than six months in a calendar year are considered residents for tax purposes and as such, will be subject to taxation on all their income made globally. However, if you are living in Spain for less than six months in a year, you will have to pay tax only on the income you have made in Spain in that calendar year.
No, you will have to meet the minimum threshold for any of the investment options as discussed in this article. Otherwise, you will not be eligible to apply for a Golden Visa Spain.
