Spain Golden Visa: The Ultimate Guide 2023

With beautiful weather, diverse natural landscapes, a rich history, world-famous cuisine, and a friendly local population, Spain is a popular place to settle. Located in Southern Europe, Spain has a quickly growing economy and a high standard of living, especially regarding healthcare and education. Spain is home to some of Europe’s most important urban centers, full of cultural and historical sites. With a robust, developing economy, it has become a popular place for investors and businesspeople looking to expand their companies. The lifestyle in Spain tends to be relaxed and social, with a long history of dance, art, and music. 

High quality of life is a major reason many individuals and families want to obtain Spanish residency and, eventually, a Spanish citizenship and passport. A popular means of settling in Spain is to invest in Spain for citizenship through the Spain Golden Visa Program. Launched in 2013, Spain’s residency by investment program is one of the most efficient means of obtaining residency in Spain and can be done by following a straightforward process. The Spanish Golden Visa Program allows individuals to make a foreign direct investment to boost the national economy. There are several channels through which individuals can make this investment. 

Individuals can include eligible family members in their Golden Visa application as well. If approved, the main applicants and their family members can become residents of Spain in less than three months by obtaining temporary resident permits. After five years of continuous residence in Spain, applicants and their family members can acquire permanent residence status, and after ten years, they can obtain Spanish citizenship. Spanish passport holders have access to more than 190 countries visa-free. 

Benefits of Spain Residency by Investment

Spanish Residency by Investment has many benefits for applicants and their family members. It is one of the fastest means of obtaining a temporary residence permit in Europe, with processing times of less than three months. The investment threshold is relatively low compared to other Golden Visa Programs, with a minimum investment of €500,000. 

The Spanish Golden Visa Program offers several options for obtaining residency by investment. Applicants can select from three channels, including an investment of assets in a business or financial entity, the acquisition of property, or the development of a business project that results in positive economic growth, such as creating new jobs.

Spanish Residency by Investment is also open to family members of the main applicant, including spouses or unmarried partners, children of any age who are financially dependent on the applicant, and financially dependent parents of the applicant or their spouse. 

Obtaining a temporary residence permit in Spain, and eventually, permanent residence and citizenship, by investment can open up a wide range of new business, tourism, and educational opportunities to applicants and their families. A Spanish residency permit can be achieved in a short amount of time and allows applicants, and their family members, visa-free access to all countries in the Schengen Zone. 

Certain nationalities, including anyone from Latin American countries, Andorra, the Philippines, Equatorial Guinea, Portugal, or persons of Sephardic origin, will be able to apply for Spanish citizenship after only two years of effective residency. For all other nationals, the requirement is 10 years of continuous residence, with a required annual stay of six months. All Golden Visa permit holders can apply for Spanish citizenship and a Spanish passport, allowing visa-free travel to over 190 countries. 

The Spanish Golden Visa Program does not require applicants or their family members to reside in Spain to maintain their Golden Visa. Furthermore, Golden Visa residency permit renewals can be done remotely from anywhere worldwide. 

It should be noted that those looking to obtain permanent residency in Spain will need to reside in the country for six months out of the year for at least five years. Obtaining Spanish citizenship requires investors and relevant dependents to reside in the country for at least ten years.  

Spain Golden Visa Investment Options

There are several ways applicants can participate in the Spanish Golden Visa Program. The primary channels each require different investment amounts, allowing applicants to select the best option for their budget. 

There are three main channels through which applicants can obtain Spanish residency by investment: 

1. Investment of financial assets in one of the following areas:
   • Two million euros in Spanish public debt securities 
   • One million euros in a Spanish capital company actively engaging in business activities
   • One million euros in a venture capital fund incorporated in Spain
   • One million euros in bank deposits in Spanish financial institutions
2. Acquisition of property in Spain valued at €500,000 or more. 
3. Development of a business project that is of “general interest” to the Spanish economy in that it has a positive impact on the local economy, promotes scientific or technological innovation, and/or results in job creation. There is no minimum investment requirement for this option. 

Spain Golden Visa Real Estate Option

One of the most popular means of obtaining Spanish residency by investment through the Golden Visa Program is by investing in real estate. The real estate investment option requires the purchase of property in Spain worth at least €500,000 and provides the investor with a residency permit to live and work in Spain for up to two years. 

The Golden Visa Program, and the real estate option in particular, are popular among investors looking to take advantage of Spain’s favorable climate, culture, and real estate market. Investing in Spanish real estate provides a pathway to eventual citizenship for those who meet the criteria and complete the required steps. It’s important to note that investing in real estate involves significant financial and legal considerations, so investors much ensure they have the resources required before partaking in this residency by investment option.

Spain Golden Visa Program General Requirements and Documentation

All applicants for Spain’s Residency by Investment program must meet some general requirements to be eligible for the residency permit and, eventually, Spanish citizenship. All applicants must be non-EU or non-EEA nationals and be at least 18 years of age. They must have a clean criminal record. Investors can apply for the program themselves or enlist a reliable legal representative or advisor. 

The following documents are required of all investors and any eligible dependents applying with them: 

• A valid passport or another identity document 
• The complete national visa application form 
• One recent color passport-size photograph
• Proof of health insurance issued by a Spanish insurance provider. 
• Proof of residence in the investor’s relevant consular district. 
• Proof of adequate financial resources to make the qualifying investment. 
• Any relevant background checks and/or proof of a clean criminal record.
• Proof of payment of the visa fee paid in the investor’s local currency 

Investors will also be required to present an original and a copy of certain other documents. The following documents are required of investors depending on the investment option they choose to pursue:

• Investors in Spanish public debt will need to submit a certificate from the selected financial entity or from the Bank of Spain proving they are the sole owner of the investment over a period of at least five years. 
• Investors making a bank deposit must provide a bank certificate proving they are the sole owner of the investment.
• Those investing in real estate need a certificate from the Land Register issued within 90 days or a deed of sale if the purchase amount is not included in the certificate.
• Investors in a business endeavor should submit a favorable report from the Economic and Commercial Office indicating the general purpose of the project. If the investment is made through a legal advisor or entity, investors must show that the project is not based in a tax haven and that they have majority ownership or voting rights in the company. 

Any official documents must be legally notarized and translated into Spanish. Translations should be submitted along with the required documents in the investor’s native language. 

All family members applying with the main applicant must submit the required documents, along with the following additional pieces of information: 

• Proof of the relationship with the main investor, including birth or marriage certificates. 
• Adult children must show proof of their financial dependence on the main investor.

The relevant Consular Office processing the application may request additional documents. Investors should be prepared to provide the required documents for their applications to be processed. 

Spain Golden Visa Application and Renewal Process

The Spanish Golden Visa application process is very straightforward and considered one of the most efficient among all international residency by investment programs. All investors will need to follow these steps to obtain their temporary residence permit and, after ten years, Spanish citizenship. 

Here is an overview of the Spanish residency by investment (investor visa) application process:

1. Select one of three available investment channels: financial assets, real estate investment, or development of a business project. 
2. Gather together and submit the required documents: These documents may include a passport, proof of health insurance, proof of financial resources, and a criminal background check, among others.
3. Wait for the decision: The processing time for the application can vary, but it typically takes less than three months.  
4. Obtain the residency permit: If the application is approved, the investor will receive a Golden Visa residency permit that allows them to live and work in Spain for up to two years. 

The Spanish Golden Visa residency permit can be renewed indefinitely for a period of two to five years.  Investors and eligible dependents will need to undertake the following steps to renew their Golden Visa permit:

1. Maintain the qualifying investment: The investment must be kept for the duration of the residency permit.
2. Gather and submit any required renewal documents: This may include updated passport copies, proof of health insurance, and proof of continued payment of the qualifying investment.
3. Wait for the decision: The processing time for the renewal application can vary, but it typically takes less than a month.
4. Obtain the renewed residency permit: If the renewal application is approved, the investor will receive a renewed residency permit to continue living and working in Spain.

Eligible dependents may renew their residency permits as long as the main applicant is also renewing their permit. Dependents over 18 must prove ongoing economic dependence on the main applicant. 

Spain Golden Visa Processing Time and Fees

The processing time for the Spain Golden Visa can vary depending on the applicant’s situation, the complexity of the application, and the required documentation. On average, it will take less than three months to receive the first temporary Golden Visa residency permit. 

After two years, investors and any eligible dependents will need to renew their Golden Visa residency permits. Renewed permits also take less than a month, typically around 20 days, to process. 

Fees for the Spain Golden Visa are typically around €8,000, but this can vary depending on the type of investment and the specific requirements of the applicant’s case. In addition to a government processing fee of €70, there may also be other costs associated with the Spain Golden Visa Program, including fees for legal representation, translation services, and medical exams, if applicable. 

These fees can change over time, so investors should verify all costs and ensure adequate financial resources before engaging in the Spanish Golden Visa Program. 

Investment Opportunities in Spain

Spain offers a wide variety of investment opportunities for foreign investors. One of the most popular investment options is real estate, as the country has a thriving property market with a large demand for rental properties. Spain is also one of the most popular tourist destinations in Europe, so the tourism industry has become a very popular sector for investment. 

Spain has a thriving renewable energy sector, with many opportunities for investment in wind, solar, and hydropower projects. The Spanish stock market offers a wide range of investment opportunities, with many domestic and international companies listed on the Madrid Stock Exchange. 

For businesspeople, the country’s stable, continuously developing economy and favorable business environment make it an attractive location for starting a new business or expanding an existing one. 

Benefits of Spain Citizenship and Passport

Obtaining Spanish citizenship and a Spanish passport opens up many opportunities for work, travel, leisure, and education. The passport allows holders to travel to over 190 countries visa-free, opening up a world of new connections and business opportunities. Spanish citizens can travel freely throughout the Schengen Zone, as well as countries like the United States, the United Arab Emirates, Australia, and so much more. 

Spanish citizens have access to Spain’s robust economy, as well as their high quality of education and healthcare. Not to mention, Spain is a beautiful country with a rich history and a vibrant culture. Obtaining a Spanish passport gives holders access to all that Spain has to offer and opens up a whole new international world of travel and business. 

Spain Golden Visa FAQ