THE GOLD VISA
What is the Spain Golden Visa?
The Spain investment visa, also officially known as the Spanish Residence Permit Program or the Spain Golden Visa, was established in 2013 by the Spanish government to encourage foreign investors outside the EU to invest in the country’s economic prosperity.
Under the program, investors and their families who meet the requirements and invest at least €500.000 in either real estate, business, government bonds or a bank deposit, are offered an easy and quick way to obtain a Spanish residence permit.
A key advantage of the Spain Golden Visa program is that the government legislation does not impose a minimum period of residence. An initial residency card is granted for one year (or two years if you visit Spain), which can then be renewed every five years, and then again for another five years. Permanent residency can be applied for after you’ve actually lived in the country for a period of five years. Please note that applicants will be required to visit Spain to collect their biometric data.
While it is not necessary to live in Spain in order to obtain and renew the residency visa permit, the pathway to citizenship does require the investor or qualified family members to live at least 6 months per year in Spain for ten consecutive years. Investors must also travel to Spain twice a year, leaving no more than 5.5.-6 months between each visit. This will then allow eligible investors and/or their families to apply for Spanish citizenship. Some nationalities, including former Spanish colonies, can benefit from a reduced length of full-time residency in order to be able to apply for nationality.
Main Golden Visa Spain benefits
- Fast processing times. It is possible to acquire the Spanish residence permit within 60 days from the time the Golden Visa application is submitted.
- Travel visa-free. Since Spain is an EU member, when obtaining the golden visa, you can travel visa-free to 26 countries as part of the Schengen zone.
- EU rights. Obtaining a Spanish residency permit means you can live, work and study in Spain.
- Family residency plans. Your spouse and children under the age of 18 are guaranteed residency permits. Other family members can also obtain residency, provided paperwork is presented, showing they are your legal dependents.
- Family security guarantee. Having a ‘plan B’ puts your mind at ease in times of economic or political instability.
- Easy renewal. The temporary residence permit can be easily renewed and you only have to visit Spain once a year in order to maintain the permit.
- Donation-free. No donation is required as it is an investment-only program that provides many different investment options.
Spain Golden Visa requirements
If you or your family decide to live in Spain, then you are eligible for permanent residency after five years. However, you have to demonstrate that you did not spend more than a total of eleven months outside of Spain within the past five years.
Golden Visa Spain rules
- The applicant must be over 18 years old.
- The applicant must possess a clear criminal record.
- The applicant must not be on the nation’s list of undesirable people.
- The applicant must hold valid medical insurance and an official health certificate
- The applicant must not have previously been refused visas or entry into the Schengen zone.
- The applicant must have enough funds to reside in Spain.
- The applicant must make a qualifying investment (as stipulated in this guide) and provide proof of the respective financial investment.
The application process for the Spain Golden Visa program
After purchasing property equal to or over €500,000, you will automatically receive a multiple entry Spanish Golden visa which is valid for one year.
Within that year, the investor must go to Spain in person to apply for the two-year residence permit, provided that the investment made is still in place.
While you do not need to live in Spain to maintain the residency permit, you must come to Spain each time to renew the permit in person as well as to maintain your investment.