Spain’s Golden Visa Programme
Spain’s Golden Visa Programme, provision for which was made in 2013, is one of the industry’s most popular residence by investment programmes.
Benefits of Residence in Spain
Successful applicants can receive a range of benefits, including:
- The right to live, work, study, and undertake business in Spain
- Ability to include family members in an application
- Residence valid for an initial two years, renewable for consecutive five-year periods
- Ability to apply for permanent residence after five years of ‘legal and continuous’ residence
- Ability to apply for citizenship after 10 years of residence in Spain
There are a number of investment options available under Spain’s Golden Visa Programme:
Public Debt Securities
Investment Amount Investment Type Required Official Certification Hold Period €1 million Investment in public debt securities Relevant financial entity, management company, or the Bank of Spain Validity of residence
Stocks and Shares
Investment Amount Investment Type Required Official Certification Hold Period €1 million Investment in Spanish company stocks and shares If listed, financial intermediary registered with the National Securities Market Commission or the Bank of Spain, and if unlisted, accreditation of investment at Register of Foreign Investments Validity of residence
Spanish Investment Funds
Investment Amount Investment Type Required Official Certification Hold Period €1 million Investment in Spanish investment funds, close-end investment funds, or venture capital funds Relevant financial entity, management company, or the Bank of Spain Validity of residence, at least 5 years
Investment Amount Investment Type Required Official Certification Hold Period €1 million Bank deposit in a Spanish financial institution Relevant financial entity, management company, or the Bank of Spain Validity of residence
Investment Amount Investment Type Required Official Certification Hold Period €500,000 Real estate property Property Registry Validity of residence
Investment Amount Investment Type Required Official Certification Hold Period €1 million Business project that creates jobs, has a socio-economic impact on the area in which the activity is carried out, or contributes to scientific and/or technological innovation Directorate-General for International Trade and Investments Validity of residence
The process of obtaining residence in Spain is divided into stages. Investors do not immediately receive permanent residence and their status in Spain remains temporary for some time after the application is first submitted.
- Step 1: Make the chosen investment
- Step 2: Investors outside of Spain must make a visa application at a local Spanish Consulate. The expected response time is 10 days.
- Step 3: Upon receipt of a ‘residence visa for investors’ the investor must enter Spain to apply for the ‘residence authorisation for investors’ at the Large Companies Unit. The expected response time is 20 days.
- Step 4: The investor must then give biometrics and receives a Foreigner’s Identity Card
- Step 5: The residence authorisation for investors is valid for an initial two-year period, and can be renewed for consecutive five-year periods
Frequently Asked Questions
Who is eligible to apply?
Investors wishing to apply for Spain’s Golden Visa Programme must be non-EU, EEA, or Swiss nationals; be over the age of 18; have a clean criminal record in Spain and in all countries in which they have resided in the past five years; possess valid health insurance covering themselves and any family member; and demonstrate evidence of €30,000 to support themselves throughout the residence period plus €10,000 per family member.
Which family members can I include in my application?
The following family members are eligible to join the investor:
- Spouse or common-law partner
- Children of the investor under 18
- Children of the investor over 18 who are financially dependent on the investor
- Parents and grandparents of the investor who are dependent on the investor
Is there a physical presence requirement?
No physical presence is needed to maintain residence rights.
How long does the application take to process?
Visa applications can receive responses in 10 working days and residence authorisation applications can receive responses in 20 working days. Investors and their families members can therefore receive residence rights in Spain in around one month.
What is the duration of the residence permit?
The residence authorisation for investors is valid for an initial two-year period, and can be renewed for consecutive five-year periods. After five years of legal and continuous residence in Spain an application for permanent residence can be made.
Are citizens from certain countries barred from applying?
EU, EEA, and Swiss citizens are unable to apply under Spain’s Golden Visa Programme.
Is this programme for me?
The following persons may be a good fit for the programme:
- Investors seeking to expand their asset base
- Individuals and extended families wanting to take up permanent residence in the EU
- Businesspersons and entrepreneurs seeking visa-free travel across the Schengen Area