What is a Spanish golden visa and how does it work?

Spain with its favorable climate, cultural richness and high quality of life attracts not only tourists but also investors from all over the world. One of the tools that make the country particularly attractive to wealthy foreigners is the so-called “golden visa”. This residence permit allows investors and their families to live legally in Spain, as well as to travel freely in the Schengen zone. The program is valid until April 2025. In this article we will tell you what the Spanish Golden Visa is, how to get it and what benefits it offers.

What is a Spanish Golden Visa?

The Spanish Golden Visa is a residency program for investors (Spanish Residence Permit Program) launched in 2013. It is aimed at attracting foreign investment in the country's economy, particularly in real estate. The visa allows its holders and their family members to legally reside in Spain, as well as access to a number of additional opportunities.

The key advantage of the golden visa is the absence of the need to permanently reside in Spain. The investor can spend a minimum amount of time in the country (only a few days a year), while maintaining residency status.

Basic requirements for obtaining a golden visa

Spain's golden visa requirements include several investment options that include business and real estate investments.

Real estate investments

• Purchase of one or more units of real estate with a total value of at least €500,000.
• These can be residential, commercial properties or plots of land.

Business investment

Investing at least €1,000,000 in shares in Spanish companies or in the creation of a new business that will contribute to the economic development of the country.

Investing in government bonds

Purchase of Spanish government securities for an amount of €2,000,000 or more.

Bank deposit

Placing a deposit in a Spanish bank for an amount of €1,000,000 or more.

In addition to the basic requirements, the investor must:

• Be over 18 years of age.
• Have no criminal record in Spain or other countries in the last 5 years.
• Have health insurance valid in Spain.
• Have sufficient financial means to support themselves and their family.

Golden Visa Process

Choosing the type of investment

First of all, you need to choose how you will invest your funds (real estate, business, securities, etc.). The most popular option is buying real estate.

Preparing documents

The package of documents includes:

• Passport.
• A certificate of no criminal record.
• Proof of investment (e.g. real estate purchase agreement or bank statement).
• Health insurance.
• Proof of financial solvency.

Applying

You can apply for a golden visa through the Spanish consulate in your country of residence or at the immigration office in Spain.

Obtaining a visa

Once all documents have been submitted, the processing takes about 20 working days. If the application is approved, you will receive a residency permit for 2 years.

Renewal of residency

The Golden Visa is renewable every 5 years provided the investment is maintained.

What is the benefit of a Spanish Golden Visa

The Golden Visa opens up wide horizons for its holders, allowing them to enjoy the benefits of life in Spain without the obligation of permanent residence in the country. This makes the program particularly attractive for those who seek flexibility in the choice of residence, while maintaining the ability to periodically visit one of the most beautiful countries in Europe.

In addition, this type of visa is aimed at entire families, which makes the emigration process much easier for parents and their children. The ability to access quality education and medical care in Spain is an important aspect that allows the family to smoothly adapt to the new environment.

Investors considering Spain as an attractive location for real estate investments will also find considerable benefit in the golden visa. The stable market and the possibility of subsequent rental properties create additional income, which allows not only to improve their financial situation, but also to strengthen their position in the European space.

What kind of real estate is eligible for the visa?

Both residential and commercial properties can be purchased to qualify for the program. The main options are:

• Apartments in major cities such as Barcelona, Madrid or Valencia.
• Villas on the Mediterranean coast.
• Income houses and commercial premises for rent.
• Land plots for construction.

It is important to note that the investment amount should be at least €500,000 excluding taxes and additional expenses.

Important nuances of the program

When buying real estate, you should be aware of existing taxes. For example, property transfer tax can be up to 10% of the value of the property. Another important part of financial planning will be paying the cost of processing the transaction.

Keep in mind that it is not possible to extend your residency status without retaining your investment. If you get rid of the investments that were made to obtain the residence status, it will be impossible to extend it without new investments.

Conclusion

Spain's Golden Visa is a convenient tool for those who want to gain access to European markets, provide comfortable accommodation for their family or invest profitably. The program combines easy processing, minimal residency requirements and a wide range of benefits, including the right to travel throughout Europe.