Please note – as of April 2024 – The Spanish Government have decided that they want to remove the 500.000€ property investment element form the Golden Visa. As I write this in August 2024, they’re hoping to phase it out by the end of 2024.
Spain: A Prime Destination for Relocation and Investment
Spain has been a member of the European Union since 1985 and part of the Schengen Area since 1995. With its high standard of living and a growing economy, Spain has become an attractive option for relocation, drawing interest from both families and businesses alike.
For non-EU nationals looking to establish themselves in Europe, the Spain Golden Visa Program offers an excellent opportunity. This program provides the ability to live, work, and study in Spain, with the potential to gain permanent residency and even citizenship over time.
Pathway to Permanent Residency and Citizenship
The Spain Golden Visa Program not only grants temporary residency but can also lead to permanent residency after five years. Once you’ve held permanent residency for 10 years, you may be eligible to apply for Spanish citizenship through naturalization, provided specific criteria are met.
Eligibility Criteria for the Spain Golden Visa Program
To qualify for the Spain Golden Visa Program, there are several investment options to choose from, such as:
- A €500,000 investment in real estate
- A €2 million investment in Spanish government bonds
- A €1 million investment in shares of Spanish companies
In addition to the financial requirements, applicants must be at least 18 years old, hold a clean criminal record, and have health insurance (public or private) in Spain.
Detailed Eligibility Requirements:
- You must be over 18 years old.
- You should not be an illegal resident in Spain.
- You must have a clean criminal record for the past five years.
- You should not be listed as an undesirable person.
- You must have private health insurance to cover your stay.
- You need to demonstrate sufficient funds to live in Spain without working.
- You must not have been previously rejected for residency in Spain or certain other countries.
- You should be free from any illnesses outlined in the 2005 regulation.
Investment Options for the Spain Golden Visa
There are several pathways available to obtain the Spain Golden Visa, each catering to different types of investors:
- Real Estate Investment:
Invest a minimum of €500,000 in Spanish property. This can include residential, commercial, or a mix of both. Properties can also be rented out, and joint investments with other buyers are allowed. - Business Development:
Invest €1 million to support business initiatives in Spain. This route requires that your investment creates jobs, has a positive socio-economic impact, or contributes to scientific or technological advancements. - Capital Transfer:
This involves investing €2 million in Spanish Treasury Bonds or €1 million in either shares of Spanish companies or bank deposits in a Spanish financial institution. Treasury Bonds are government-backed, offering a relatively safe investment with competitive returns. - Business Projects:
Your investment must meet specific criteria, such as promoting job creation, positively impacting the local economy, or advancing scientific and technological innovation. Spain currently hosts over 3,000 startups, many of which present exciting opportunities for investment. Due to the complexity of this option, it’s advisable to consult with a professional agent to navigate the legal procedures.
Spain Golden Visa Application Process
The application process for the Spain Golden Visa is straightforward and consists of the following steps:
- Select Your Investment Option:
Choose the investment that best suits your goals. Our team of experts is available to help you evaluate the options. - Submit Your Application:
Once you’ve decided on your investment, prepare and submit your application for a Schengen Visa. - Provide Biometric Data:
Visit Spain to provide the necessary biometric data. This step usually takes about two months. - Await Approval:
The authorities will review your application, typically taking around 20 days to make a decision. - Receive Your Golden Visa:
Once approved, you’ll receive your Spain Golden Visa and can start enjoying all the benefits it offers.