Golden Visa Spain (Investor Visa Program)
UK nationals who wish to invest in Spanish assets or the economy may be eligible for a national Golden visa in Spain as an additional benefit.
If you are planning to apply for a residence visa in Spain as an investor, it is a good idea to seek informed legal advice before going ahead with your application. At Total Law, our immigration experts have specialised in the nuances of the investment-based pathway towards a Spanish visa and we will be happy to help you. You can message us online or call us today at +44 (0) 333 305 9375 for immediate support.
What is a Golden Visa in Spain?
Spain’s national investor visa, also called the Golden visa, is the country’s main immigration pathway for individuals who wish to qualify based on investments. It offers a residential visa which can usually be upgraded to a temporary residence permit after the first year.
Additionally, this visa offers investors the opportunity to qualify for permanent residence and even Spanish citizenship.
As is to be expected with an investment-based visa, this visa pathway involves substantial financial means as investors will usually be expected to invest between 500,000 euros and 2 million euros at a minimum. There are different eligible pathways depending on the nature of the investment, which determine the required amount.
In general, the investment visa is a popular choice for those who already wish to invest and who are looking for a way to live in Spain at the same time. It is also one of the viable residential paths for individuals wishing to retire in Spain, should the financial burden be manageable.
Page Contents
- What is a Golden Visa in Spain?
- What Are the Benefits of Obtaining a Golden Visa?
- Eligibility Requirements for the Spain Golden Visa Program
- What Are the Investment Options for a Golden Visa Spain?
- How to Get a Golden Visa in Spain?
- Document Requirements for a Golden Visa in Spain
- Processing Times for the Spanish Golden Visa
- How Much Does the Spanish Golden Visa Cost?
- Duration of the Spain Golden Visa
- Renewing a Golden Visa in Spain
- What Are The Tax Implications of a Spanish Golden Visa?
- Permanent Residency in Spain
- Can I Bring Family Members on a Spanish Golden Visa?
- How Can Total Law Help?
- Frequently Asked Questions
What Are the Benefits of Obtaining a Golden Visa?
The Spanish Golden visa Programme creates a mutually beneficial relationship with eligible investors who contribute to the local economy.
In turn, this permission offers qualifying individuals a path to living in Spain with the permission to work or study, while also facilitating free movement within other countries of the European Union and the European Economic Area as part of the Schengen agreements.
Investors are also permitted to bring their family to live with them in Spain and will be eligible for Spanish citizenship in the future, once they meet residential requirements.
Eligibility Requirements for the Spain Golden Visa Program
Generally, the main requirement for a Spanish Golden visa is that you must be financially capable of committing a considerable amount of money to one of the eligible investment areas. You will also need to have enough funds to support yourself and your family.
Besides financial requirements, you will need to show that you are not a risk to the general public and that you have not participated in any illegal activities.
You will need to present a criminal record check certificate as well as a health certificate showing that you do not have an infectious disease that may negatively impact the Spanish health sector and population.
What Are the Investment Options for a Golden Visa Spain?
Overview
When considering a Golden visa, you will need to decide which investment pathway may be the most suitable for you. Generally, the goal is to invest in a way that contributes to quantifiable growth in the Spanish economy, either by providing funds or by boosting the local socio-economic status by creating jobs and similar opportunities. Investments may go towards real estate, public debt, venture capital, investment funds, and shares of Spanish companies.
Alternatively, you may qualify through significant bank deposits with qualifying Spanish financial institutions or by establishing a new business that drives local employment or similar improvements.
Real Estate Investments
Investing in Spanish real estate has long been one of the most popular paths towards a Golden visa. However, it is important to point out that the Spanish government recently decided to implement some changes that will come into effect in the future. In April of 2024, a decision was made to discontinue the real estate investment option in an effort to better regulate local real estate and reduce local housing shortages.
Generally, the real-estate-based Golden visa requires an investment of at least €500,000 in qualifying Spanish properties. Keep in mind that this number is before taxes and will be higher in total. Your investment may either go towards one property or multiple.
Taxes and additional costs you will likely need to pay include a property transfer tax, notary costs and property registration fees. You will also need to factor in VAT (value-added tax) and municipal taxes.
Investors wishing to go this route when obtaining their Golden visa may still apply at the moment, but it is highly recommended that you seek legal advice before doing so. Our team of immigration specialists at Total Law can help you understand the implications of the planned changes and whether this is the best option for you. You can call us today at +44 (0) 333 305 9375 for immediate support.
Venture Capital, Stocks, or Shares
If you wish to apply for a Golden visa through this investment route, you will need to invest in venture capital funds or viable closed-end investment funds in Spain. Investments in this category are considered one of the riskier options, so you should make sure to thoroughly research any investments before you agree to make them.
Alternatively, you may invest in traditional Spanish stocks or company shares, provided that these companies have been actively trading.
You may choose to invest in listed or unlisted shares, but be sure that you obtain a declaration or certificate to confirm the details of your investment.
Generally, you will need to invest at least one million Euros for this path.
Public Debt and Government Bonds Investments
Investors who wish to qualify for a Golden visa may choose to invest in Spanish public debt securities. This might be government-issued securities, treasury bills or other bonds.
The minimum required investment amount for this path is usually two million Euros.
Bank Deposits
If you want to apply for a Golden visa but don’t feel as comfortable with risky investments, a bank deposit might be a good solution. While any investment has an inherent risk, this is one of the safer options available and you will have more certainty that the money you invest will boost the Spanish economy.
Investor visas that are granted for the bank deposit cause will usually require an investment of at least one million Euros, but you should keep in mind that you will likely face additional bank and interest rates.
Business Investment Options
The business path for the Spanish Golden visa is unique in that it doesn’t directly involve a minimum investment amount. Instead, you will need to establish a business that has the capacity to notably boost the Spanish economy.
In general, you should carefully consider what type of business you might want to establish as the Golden visa will require evidence that you are either creating jobs, contributing to science or technology or that there is another quantifiable positive socio-economic impact.
You will also need to keep in mind that there will be further steps and requirements for you to be permitted to open a business. While the more flexible investment amount is appealing, starting a business is no easy task and will require plenty of planning.
How to Get a Golden Visa in Spain?
When you have decided which investment pathway you would like to pursue, you will need to go ahead and invest. It is important that you do so with care and seeking legal counsel before taking this step can help you feel more secure. Once this is official, you will need to gather all three required application documents including your passport, certificates, and evidence of your investment.
You will need to submit your documents and visa fee to your local Spanish immigration authority. In the UK this might be the Spanish embassy in London or Edinburgh, or the Spanish consulate in Manchester.
It may take a while for your documents to get checked as the investment will need to be verified. Once you have been informed that this step is complete you will need to arrange an appointment with your local Spanish embassy or consulate.
The purpose of this appointment is to formalise your national investment visa application. You may be asked to explain your investments further or about your plans when living in Spain. It is always best to cooperate fully as the immigration official will need to assess whether you are a likely liability to the Spanish general interest.
Document Requirements for a Golden Visa in Spain
When applying for your investment-based residential permission, you will generally need to show evidence of your ability to meet the eligibility requirements.
Depending on your chosen path the exact documents that you will need may vary but they will usually include the following:
- Your valid passport
- Your signed visa application form
- Two recent photographs that comply with visa standards
- Your criminal record check certificate
- Financial details showing that you have the means to support yourself and any dependents who may be living with you
- Receipt of visa fee payments
- Details of your health insurance
- A health certificate showing that you pose no infection risk to the general public
- Proof of residency outside of the EU
Naturally, you will need to provide detailed evidence of the investments that you wish to qualify under. These may be certificates, tax receipts, or any other documentation that confirms the nature, amount, and time of your investments.
Processing Times for the Spanish Golden Visa
Once you have completed your visa application and interview, you will need to wait for your application to be processed. This might take between 10 to 20 days, but you should always be prepared to wait a little longer as unexpected delays can happen.
Remember to double-check your application and documents before you submit your application as incomplete or inaccurate applications can lead to delays or even a visa rejection or legal consequences with the Spanish authorities.
How Much Does the Spanish Golden Visa Cost?
The Spanish Golden visa is one of the most expensive options if you are counting the required investments which range from 500,000 Euros to two million Euros.
The visa fee itself is quite low in comparison, but it is essential that you are prepared to pay it. Exact fees can vary but you should usually expect to pay around €80 for your Golden visa application.
Duration of the Spain Golden Visa
The Spanish Golden visa is usually issued for one year at a time, after which it may be upgraded to a temporary residential permission if you remain eligible. This means that you will need to show proof that you have maintained your investment and that you have actually been present in the country.
As with other national visas, you will usually qualify for a permanent residential permit once you have lived in Spain for five years and may be eligible to apply for citizenship after ten.
It is important to note that real-estate investments may only qualify for a 6-month validity period but will still be renewable as long as all conditions are met.
Renewing a Golden Visa in Spain
When your Golden visa is nearing its expiry, you may be eligible to apply for a renewal. You should usually do this with plenty of time before your current permission expires and will be able to apply up to 60 days before this is due. You do have the option to apply after expiry too, provided that you do so within the first 90 days.
Generally, you will need to show that you have maintained your qualifying investment or that the company you have established has continued trading and meeting its targets in terms of the beneficial contributions to the local socio-economic climate.
You must also show that you have actually been in Spain. While this visa is usually intended for those who wish to establish permanent or semi-permanent residence in the country, at least one visit will be required if you wish to hold on to your permission.
What Are The Tax Implications of a Spanish Golden Visa?
If you have come to Spain under the Golden investor visa, you may be liable for taxes. This depends on how long you have been living in the country and if you are considered a Spanish resident for tax purposes.
Investors who have been living in Spain for more than six months will usually have to pay taxes. But even if you have not spent that much time in the country, you should note that any form of income that you have earned in Spain will be taxable no matter your residential status. This includes any earnings you have made through your investments.
You may also be liable to additional specific taxes or fees depending on the nature of your investments so it is always important to stay on top of all the legal implications when choosing this immigration route.
Permanent Residency in Spain
Permanent Spanish residency is usually issued on the basis of residential requirements. As a UK investor, you will usually qualify after you have held five years of continuous and legal residence in Spain.
Can I Bring Family Members on a Spanish Golden Visa?
One of the key benefits of the Golden visa is that it permits you to bring your family. You may apply to be accompanied by your spouse and any dependent children, meaning that they must be under 21 years of age or must have a disability that means that they are reliant on your care even as they are older.
How Can Total Law Help?
The Spanish Golden visa offers an appealing but complex path to a residential permission and it is essential that you do not risk any mistakes due to a misunderstanding of its core requirements.
If you are already an investor or if you are planning to invest for the purpose of obtaining this visa permission, it is crucial that you do your due diligence before committing to invest such a large sum of money.
Our immigration lawyers at Total Law have years of experience with all aspects of the Golden visa process and will be happy to advise you on the best approach given your circumstances. You can call us today at +44 (0) 333 305 9375 to discuss how we may help you.
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Related pages for your continued reading.
Frequently Asked Questions
The Golden visa generally allows qualifying individuals to work or study in the country, as long as the permission is valid.
If you have previously been granted a Golden visa due to real-estate investments or if you are considering an application now, before the changes come into effect, you may need to consider alternatives in the future.
Depending on how long you have been in Spain, you may be eligible to apply for permanent residence, but if you do not yet meet the five-year requirement it is best that you contact an experienced immigration lawyer to talk about any necessary precautions you should take now to protect your ability to remain in Spain in the future.
You might need to invest in one of the alternative options if you want to keep a Golden visa permission.
One of the main benefits of the Spanish Golden visa is that it allows for free travel within other member countries of the Schengen region.
