Spain Golden Visa (Investor Visa Program)
The Spanish Golden visa program offers a way for US nationals to move to Spain after investing in the local economy.
Navigating the Golden visa application process can be confusing as the specific requirements for investments are not always easy to understand. It can help to contact an immigration lawyer before applying for this visa to make sure that there are no problems. If you would like support, you can call Total Law today at +1 844 290 6312 and one of our Spanish visa experts will be happy to help right away.
What is the Golden Visa Program in Spain?
Note: The Spain Golden Visa is scheduled to close on 3 April 2025. Applicants wishing to apply for this visa must submit an application before this date.
The Golden visa is an investment program for Spanish immigration that is open to most non-EU nationals who wish to come and live in Spain. US individuals will have to choose an investment path and submit the required evidence of their investment before being eligible for this visa.
While the Spanish investment visa requires considerable assets to meet the minimum investment amount, it offers many attractive benefits for individuals who choose to go by this immigration route. As an investor, you will be eligible to renew your Golden visa, meaning that you should eventually qualify for permanent residence and even citizenship. Additionally, the Golden visa offers mobility to travel and explore other European countries as part of the Schengen treaty.
Foreign investors will also be permitted to study or seek employment and may apply to bring close family members to live with them in Spain.
Page Contents
- What is the Golden Visa Program in Spain?
- Investment Types and Requirements for Spain Golden Visa
- What Documents You Will Need for a Spanish Golden Visa
- How To Obtain Residency by Investment
- Submitting Your Spain Golden Visa Application
- Processing Times for a Spanish Golden Visa
- Application Cost for a Spain Golden Visa
- Can You Renew a Golden Visa in Spain?
- Permanent Residency and Spanish Citizenship
- Bringing Your Family in Spain on Golden Visa
- Working on a Golden Visa in Spain
- Taxes on a Golden Visa in Spain
- How Total Law Can Help
- Frequently Asked Questions
Investment Types and Requirements for Spain Golden Visa
Overview
The Golden visa offers a selection of different investment pathways, which determine how much money you would need to invest in order to qualify. You should carefully consider which option might be the most beneficial to you as they may carry different risks and dividends.
Additionally, you should consider how much additional work may be involved as certain investments will require you to be more actively engaged, such as if you choose to invest by starting a business.
Real Estate Investments
While real-estate investments were one of the most popular options for investors wanting to apply for a Golden visa, the Spanish government recently passed a decision to discontinue this path in the future. While disappointing for many investors, this comes as an effort to better regulate the distribution of Spanish real estate and to tackle the growing housing crisis and inaccessibility to property for locals.
Until these changes are implemented, you may still apply for a Golden visa under this pathway. Do note, however, that you should be ready to make alternative arrangements once the changes come into effect in the future.
To qualify for a property-based investor visa in Spain, you will usually need to invest at least €500,000 into qualifying real estate. This may be one larger property purchase but you can also spread the cost over several investments.
While this visa pathway is the cheapest investment-based option, coming at just half the price of the average investment requirement, you will need to remember that real-estate investments will require additional costs such as notary costs, property transfer taxes, and registration fees. Additionally, VAT and municipal fees will likely be payable as well.
Stocks, Shares, and Venture Capital Investments
Investments into stocks or shares of Spanish companies make up one of the widest categories for qualifying investment types and you can also choose closed-end investment funds or venture capital funds. Generally, there is a lot of choice with these types of investments but you should keep in mind that it may be one of the more volatile investment types so careful consideration is needed.
Depending on the type of investment you go for, you will need to make sure that you obtain all necessary confirmations, especially if you are investing in unlisted shares.
This investment route usually requires a minimum investment of 1 million Euros.
Government Bonds Investment
You will also have the option to target the Spanish economy directly by investing in public debt securities or government bonds.
Simplified, this means that your money will go directly to the Spanish government to be used towards clearing public debt. As investments of this nature usually come with the agreement of a fixed interest, this path tends to be more secure than traditional investments. You can also be sure that your money is used to directly benefit the Spanish economy.
You will need to invest at least two million Euros under this pathway.
Business Investment
Business investments mean that instead of buying stocks or shares of a pre-existing venture, you will establish a new one, usually with the goal of driving local opportunity and innovation.
The benefit of this investment path is that it has no fixed minimum sum that you will need to spend, but of course, there are a lot of costs involved with starting a business so it is not necessarily the lowest-cost option. You will also be required to be more involved as the business will need to meet certain targets to make you eligible for a Spanish Golden visa.
Usually, there needs to be a distinct benefit that this business offers locally, either by creating jobs or contributing meaningfully to technology or science sectors. You will need to prove that your business is improving the local socio-economic circumstances.
Bank Deposits
Finally, the probably safest option is to invest by depositing your money with qualifying Spanish financial institutions. Similar to Government bonds and the public debt sector, you can be sure that your money will go towards the Spanish economy directly and you have the security that there is much less risk for loss through the volatility in traditional equity-based investments.
If you wish to qualify for a Golden visa through a bank deposit investment, you will need to deposit one million Euros at a minimum, as well as pay all the associated bank fees.
What Documents You Will Need for a Spanish Golden Visa
When applying for a Spanish Golden visa, you will need to prove your personal circumstances as well as show that you have made a qualifying investment. Usually, the required documents include:
- Details of your investments
- Your Golden visa application form
- Your valid passport
- Two visa-compliant photos
- Proof of your additional financial means to support yourself
- Your health insurance policy
- A medical certificate showing that you have no serious condition that may harm the general public
- A criminal record check certificate
- Proof of residency in the US (or elsewhere outside of the EU)
- Proof that you have paid your visa fee
If you are bringing any family members as dependents you will need to provide their details, including a copy of their passport, evidence of your relationship, and details of their health insurance coverage.
How To Obtain Residency by Investment
If you want to apply for Spanish residency by investment you will first need to make a choice on your preferred investment path. Once this is complete and you have invested, you must gather all the required documents. It is important that you take your time to really inform yourself before this stage as the nature of your investment and the additional documents will determine whether or not you will be deemed eligible. It can help to contact a legal specialist before taking any big steps to make sure that you are well covered. Our team of immigration lawyers at Total Law can help you with this or any other step of the Golden visa application process. You can call us today at +1 844 290 6312 for immediate advice.
Submitting Your Spain Golden Visa Application
When you have gathered all of your documents, you will need to pay your application fee and submit the application to your local Spanish immigration authority for consideration. This may be a Spanish embassy or consulate.
Once your application details and investment have been verified, you will need to book an appointment and attend an interview at the same embassy or consulate where you first submitted your application. You will need to formalize your Golden visa application and may be asked to elaborate on your investment and plans after moving to Spain.
Processing Times for a Spanish Golden Visa
Once you have submitted your investment visa application and attended the interview, you will need to wait for the Spanish immigration authorities to make a decision on your petition. This may take between ten and twenty days, but you should be prepared for possible delays.
Keep in mind that the overall process for this immigration path may be much longer as you will need to finalize your investment and gather all the required documents which can take weeks, months, or even longer.
Application Cost for a Spain Golden Visa
The Golden visa application fee tends to sit at around €73.26 but it may vary considerably due to currency rates or other circumstances.
Of course, the overall cost of a Golden visa is significantly higher as you need to factor in the investment itself and all additional costs that come with that.
You may also need to apply for additional permits or licenses depending on what you plan to be doing in Spain, so make sure you check based on your specific circumstances to avoid any surprises.
Can You Renew a Golden Visa in Spain?
The Spanish Golden visa is usually issued for one year at a time, though the real-estate route offers a six-month visa. When your Spanish residence visa is nearing expiry you will need to apply for renewal, which should usually be possible provided that you still meet the investment requirements.
If you previously obtained a Golden visa without establishing residence in Spain, you may still be eligible to renew it, but you will need to show that you visited the country at least once during the last year.
Permanent Residency and Spanish Citizenship
After you have stayed in Spain for 5 years, you may be eligible to replace your golden visa with a permanent residency card which will allow you to stay in Spain without the need for repeated renewals.
US investors who have obtained ten years of continuous residence may then also apply for citizenship, granting additional rights such as the right to vote.
You will also need to apply for your Foreigner’s Identification Number (NIE) and Foreigner’s Identification Card (TIE) when you come to Spain with the intention of staying for half a year or longer. You should do this within your first month of arrival.
Bringing Your Family in Spain on Golden Visa
Investors on the Spain Golden visa program may apply to bring their close family to the country with them. This usually includes your spouse or civil partner, provided that you can show that you have a real and ongoing relationship with each other, as well as any underage or dependent children.
You should keep in mind that your child should be younger than 21 years old unless they suffer from a disability which means that they are still your dependent.
You will need to take out an adequate health insurance cover for every family member who will be living with you and you will also need to show that you have the financial means to support them.
Working on a Golden Visa in Spain
The Golden visa generally permits investors to work while living in Spain, provided that the work is legal. Remember that the visa itself is not a work permit though, you will need to apply for one separately.
Taxes on a Golden Visa in Spain
If you move to Spain as an investor you will likely be subject to local taxes. While tax liabilities usually depend on your status as a resident – you will be a resident for tax purposes if you live in Spain for at least six months – you will also need to pay taxes on any income that you are earning in Spain, which includes any investment interest.
Depending on your chosen investment route, you may also need to pay additional fees or taxes.
How Total Law Can Help
The Spanish Golden visa immigration process is a complex and costly one, and it is essential to know exactly what you are doing when investing with the intention of gaining eligibility for this permission.
Whether you are already an investor or are considering this route, our team of immigration lawyers at Total Law can assist you with all aspects of the investment-based immigration journey to Spain. If you are concerned about the changes happening to the real estate investment route and want to figure out possible alternative arrangements, we will be happy to help with that too. You can call us at +1 844 290 6312 today for immediate advice.
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Related pages for your continued reading.
Frequently Asked Questions
Yes, and you will likely need a bank account with a Spanish bank as a part of your investment. Foreign nationals are usually permitted to open a bank account in Spain, at the discretion of the bank that you are applying with. You will need to show your ID and bring a certificate stating that you are not a resident. Once you have come to Spain on a residency visa, you will be able to apply as a resident or amend your existing details.
The exact implications of the planned changes to the Golden visa are not yet clear so it is hard to say what exactly it might mean for you if you have established residence in Spain based on this pathway. In general, you may be eligible to apply for permanent residence if you are able to meet the minimum residential requirements in time. Alternatively, it will likely be the safest approach to start evaluating alternative arrangements to remain eligible for a temporary residence permit.
One of the main benefits of the Spanish Golden visa is that it permits visa free travel among other member countries of the Schengen region.
