Spain Golden Visa Requirements – How to Qualify and Apply

This article is from our sister site Moving to Spain and is reproduced here with permission.

Breaking News: In early 2024, the Spanish government announced a review of the Spain Golden Visa program. Details are short, and there has been a lot of unfounded speculation. The key takeaway is that the program is accepting applications as normal until the changes are legislated, and all applications will be respected (no retroactive changes). Our expert’s best projection is that the Investor Visa program will continue, but the property may be excluded or minimum property investment amounts increased. It takes, on average, 5 months for a new bill to become law in Spain, so there is still a window to apply using the current criteria.

The official name for the Spain Golden Visa is the Investor Visa. The program accepts investments in several areas, including real estate, shares of a Spanish company, or creating new jobs. The Spanish Golden Visa is a residence-by-investment (RBI) permit for non-EU nationals, leading to Spanish citizenship after ten years.

The Spanish Golden Visa is popular with international retirees looking to own a home in Spain.

Who can apply for a Spanish Golden Visa?

Non-EU citizens over 18 years old who have:

• No disqualifying criminal record in Spain or abroad.
• No rejected SCHENGEN visa applications.

Note: EU citizens don’t need a visa to live in Spain, but you must register your residence.

Spain Golden Visa Investment Options

Note: You must complete the investment before you start your application. You’ll need proof of the investment as part of your submitted application documentation.

Important: These options are under review at present, and we are awaiting government legislation that will clarify future opportunities.

Investment Option	Amount	Investment Visa Class
Real Estate / Property	€ 500,000	Residency Visa for Acquisition of Real Estate (RIV)
Shares in Spanish Companies	€ 1,000,000	Residency Visa for Capital Investor (RIC)
Bank Deposit	€ 1,000,000	Residency Visa for Capital Investor (RIC)
Government Bonds	€ 2,000,000	Residency Visa for Capital Investor (RIC)
Business Project	No Minimum	Residency Visa for Capital Investor (RIC)

Accepted Real Estate Types

• Personal or investment.
• Residential or commercial.
• Single property or multiple properties.
• Any property purchased after 2013.

Note: Your personal investment must exceed €500,000 beyond any mortgage in Spain used to buy the property/properties.

Read More >> our complete guide to buying a property in Spain.

Spanish Company Shares

These can be in unlisted or listed companies.

Bank Deposit

A registered Spanish bank account must hold the deposit in the applicant’s name.

Business Project

This option is more flexible, and investment levels depend on the location and sector. The Consular Economic and Commercial Office will look at your project and decide if it has:

“significant socio-economic impact on the geographical area in which the project is to be carried out, or its significant contribution to scientific or technological innovation.”

Minimum Investment Time

The investment must have a minimum five-year timeframe.

Other requirements

• An approved Spanish Private Health Insurance policy.
• Funds to cover living expenses in Spain.

READ ALSO: Spanish Health Insurance for Residency & Visas >> Complete 2024 Guide

Where to apply

1. Non-residents of Spain must apply in their home country, at their nearest Spain consulate or embassy.
2. Long-stay visa holders or residents in Spain can apply in Spain.

Steps in the Investor Visa Process

Warning: We strongly suggest seeking advice from an experienced Spanish immigration lawyer before starting the process. There is significant risk as you must progress your investment before you submit your Spain Golden Visa application.

1. Identify and advance your qualifying investment.
2. Submit your application and supporting documentation.
3. Receive visa approval – usually within 20 days.
4. Travel to Spain and apply for your biometric residence card (TIE).

How long is the Investor Visa Valid

Investor Visa Validity: One Year

The visa is valid for one year; you must move to Spain within that time.

Investor Residence Permit Validity: Two Years + Renewable

Once in Spain, you will apply for a residence permit. This permit is valid for two years; you can renew it if you have the investment.

Permanent Residence (PR) & Citizenship

• Five Years: Qualify and apply for Permanent Residence (PR).
• Ten Years: Qualify and apply for Spanish citizenship by naturalization. Some groups can claim accelerated citizenship.

Family Members that are included

You can add some direct family members to your application.

• A spouse, civil partner, or common-law partner.
• Dependent children (under 18 or dependent due to health or mental conditions).
• Financially dependent children over 18.
• Grandparents and parents (in your care).

Note: You’ll need to show enough money to support all the family members you include. In addition, they’ll each require private health coverage and all clearances.

Healthcare for Golden Visa holders in Spain

As a Golden Visa holder, you do not automatically qualify for public healthcare in Spain. This is a common misconception. However, if you work (and you can legally work in Spain) and pay social security contributions, then you can access public healthcare. However, if you don’t contribute to social security, then you will need a qualifying private health insurance policy for as long as you hold the visa.

Next Steps for your Spain Golden Visa?

Are you ready to invest in your Spanish future? The process is complex, and applications are regularly rejected. Our Spanish Immigration Law partner shows you how to be approved or tells you not to invest. A 30-minute Spain Golden Visa consultation will save you time and money and give you peace of mind.

FAQ – Spain Golden Visa