Spain (2024)

Spain Golden Visa Overview

Spain launched its golden visa programme in 2013. An investment of €500,000 in real estate will gain family residency. The Spanish investor visa can be renewed every two years. After five years it is possible to gain permanent residency and after ten years citizenship. It is not necessary to live in Spain to retain and renew the residency visa permit.

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Spanish Golden Visa Benefits

The main benefits of the Spanish Golden Visa are undoubtedly the speed at which a residence permit is issued and the comparatively low processing costs and renewal fees. Spain is naturally compared to its neighbour Portugal and the undoubted success of the golden visa programme there. And while at €500,000 the real estate investment in Spain is now the same as the minimum fund investment for the Portuguese programme, many investors prefer the choice of real estate options than can be purchased in Spain, with no restrictions other than the minimum investment limit.

Key Benefits:

• Speed of issuing residency permit
• Low government fees
• Low renewal fees
• Complete free choice of real estate options
• Visa free travel throughout the EU Schengen zone

Permanent Residency and Citizenship in Spain

It is possible to apply for permanent residency in Spain after living in the country for five years. Citizenship can be applied for after living full time for ten years. Although the temporary residency permit (the golden visa) can be easily renewed without living in the country, the route to both permanent residency and citizenship requires the investor and their family to reside in Spain. For this reason, the Spanish Golden Visa programme is popular with those applicants who either wish to reside full time in Spain or simply maintain a second residency in Europe but without a path to citizenship. Investors looking for potential European citizenship are advised to consider the Portugal Golden Visa programme which has a faster path to citizenship. Spain offers a two year fast-track path to citizenship for nationals from ex Spanish colonies, such as the Philippines and most Latin American countries.

How to get a Spanish Golden Visa

Following an investment of €500,000 into Spanish Real Estate the process for obtaining a Spanish golden visa is relatively straightforward and quick. Applicants, who will need to be non–EU residents, are required to have:

• A clean criminal record
• Sufficient funds and healthcare to cover their stay
• No previous Schengen visa refusals

Spanish Golden Visa through Property Investment

After reaching a low in 2015 Spanish property prices have been rising steadily from around €1450 sqm in 2015 to around €1700 sqm in 2022 achieving growth nationally of around 2% each year. However, prices remain below the peak of €2101sqm reached in 2008 and at today’s prices real estate in Spain may offer value going forward. An investment of €500,000 is required to apply for a golden visa. Investors needing our services may wish to check our procedure or read more detail for the golden visa programme in Spain.

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Spanish Golden Visa FAQ's

How does the Spanish Golden Visa compare to Portugal?

La Vida has more than 10 years’ experience in both the Spanish and Portuguese golden visas helping thousands of clients. To sum up in a very simple way we find that clients for Portugal are looking for residency and potential citizenship in Europe and real estate investment is the route to obtain that. For Spain, clients are looking to invest in real estate and that is their primary decision. The Spanish Golden Visa is an added benefit and the additional costs on top of the investment are not prohibitive.

Where do applicants invest for the Spanish Golden Visa?

Barcelona absorbs over 40% of all inward investment for the golden visa in Spain. In many ways the Spanish government have failed to extract any real political or economic value from the golden visa programme. The investments are almost exclusively the buying of resale property. However, that is often the attraction in that investors face no restrictions.

How do I obtain citizenship in Spain through investment?

It’s not possible to obtain citizenship through investment alone in Spain. Investment itself can obtain a golden visa, a residency permit, and the right to live full time in Spain. Following 10 years of residency, Spanish citizenship and a Spanish passport can then be applied for. There is an accelerated path to citizenship in just two years for nationals from the following countries: Mexico, Brazil, Peru, Argentina, Philippines, Cuba, Bolivia, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Venezuela, Panama, Paraguay.

Can I get a Golden Visa if I already own a property in Spain?

It is possible to apply for a Spanish golden visa after purchasing a property. In fact, it is possible provided the property was bought since the introduction of the Spanish Golden Visa in 2013. The amount would need to be a minimum of €500,000 in addition to any mortgaged element. Contact La Vida for further details on how to apply.

Where do Spanish Golden Visa investors come from?

Literally all over the world. It is no different to the 18 or so leading programmes that La Vida offers. We have handled applications from over 150 countries worldwide. As with any programme certain nations are attracted more than others. And in the case of Spain, China (28%) and Russia (25%) were the largest source of applicants to 2017. However, this was before the explosion in US clients for golden visas generally.

Who is eligible for a Golden Visa in Spain?

The first requirement is you need to be a non-EU national. Beyond that anyone can apply subject to the minimum real estate investment of €500,000.

Do you pay tax in Spain if holding a Golden Visa?

No, you pay tax on your worldwide income if you live in Spain. (Defined as more than 183 days). Holding a Golden Visa allows you to live in Spain but there is no requirement to do so. In which case you will only pay Spanish tax on income derived in Spain. For a more comprehensive assessment please read our expert guide to tax in Spain.

Can I apply for a Golden Visa in Spain with a mortgage?

Yes, however you must have invested a minimum €500,000 equity in the property. So a purchase of €750,000 with a €250,000 mortgage, for example, will qualify for the Spanish golden visa application.

Are there disadvantages to the Golden Visa in Spain?

The key disadvantage is the inability to apply for Spanish PR and citizenship without a period of residency in Spain. Our clients prefer that flexibility not to have to reside and that is one of the key reasons why Portugal remains more popular than Spain for Golden Visa investors.

How long can you stay in Spain with the Golden Visa?

You are allowed to live full time in Spain if you wish. But there is also no minimum stay requirement in order to maintain your residency visa. There is however a minimum stay period if you wish to apply for Permanent Residency after 5 year. For PR you must reside in Spain for at least four years and two months out of the five year period.

How long does the Spanish Golden Visa residency permit last?

The initial Spanish residency permit is issued for a period of two years. Beyond that the investor can then extend for a further five years provided they retain their investment and meet the criteria.

What investment methods are available for the Spanish Golden Visa?

Real estate investment is the dominant choice for investors accounting for over 93% of all applicants for the Spanish Golden Visa. It is also possible to gain the golden visa through business investment of at least €1million or through capital transfer amounting to a minimum €1million invested into a bank deposit, equity in Spanish companies or Spanish treasury bonds.

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How Can La Vida Help You?

La Vida has extensive experience of all the Golden Visa programmes in Europe. In addition to Spain we can advise on Portugal, Malta, Greece and Turkey. We also offer citizenship by investment options in the Caribbean. La Vida has extensive global reach with our expert team having helped clients in over 150 countries worldwide.

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