What You Will Find in This Article
- What Is Spain Golden Visa?
- Eligibility Criteria for the Golden Visa Spain
- Investment Options of Golden Visa in Spain
- Spain Golden Visa Application Process
- Required Documents for Golden Visa in Spain
- Golden Visa to Spain Renewal Process
- Spain Golden Visa Benefits
What Is Spain Golden Visa?
Spain has been in the EU since 1985 and in the Schengen area since 1995. The country’s high standards of living and developing economy make it an attractive option for relocation. Both families and businesses treat Spain as an important candidate for future investments.
Especially for non-EU nationals who want to pursue their career or life goals in Europe, the Spain Golden Visa Program is a great option. It allows one to reside, study, and work in Spain. In addition, it may also lead to permanent residency and eventually citizenship.
After five years of temporary residence, you may apply for permanent residency in Spain. Following 10 years of permanent residency, you may apply for citizenship through the process of naturalization, provided that certain criteria are met.
Eligibility Criteria for the Spain Golden Visa
There are several investment options in the Spain Golden Visa Program. You may choose to invest either €500,000 in property, €2 million in Spanish Government Bonds, or €1 million in shares in Spanish companies.
Apart from the financial requirement, you’re required to be at least 18 years of age and possess a clean criminal record and a private or public health insurance policy. Detailed criteria:
- You’re over 18
- You’re not an illegal resident of Spain
- You don’t have a criminal record in the last five years
- You’re not on the list of undesirable people
- You have private healthcare to cover your stay
- You’re able to prove sufficient funds to live on without working in Spain
- You’ve not been rejected for residence from certain other countries or from Spain
- You don’t have any of the illnesses according to a 2005 regulation
Investment Options of Spain Golden Visa
To be able to obtain the Spain Golden Visa, there are several routes that you may follow:
| Investment Type | Amount |
|---|---|
| Real Estate Investment | €500,000 |
| Business Development | €1 million |
| Capital Transfer | €1 million |
Real Estate Investment Option
This route requires you to invest a substantial amount into Spanish real estate. The designated amount of the program is €500,000. You can opt for a residential or commercial property or a combination of both. The property involved may be rented out. Different buyers may also combine their investment into one property, and any amount exceeding the minimum investment may be mortgaged out.
Business Development in Spain
This route to Spain residency by investment more directly aims to aid the Spanish economy. If you choose this option, you must create employment, the investment needs to have a socio-economic impact on the country, and contribute to scientific/technological innovations. The minimum investment requirement of this option is €1 million.
Capital Transfer
You may also opt to invest a substantial amount in Spanish Treasury Bonds to benefit from the Golden Visa program in Spain. Because of these bonds’ financial security, this option is quite popular among the applicants. Treasury Bonds are backed by the government and represent a relatively safe form of investment, with which you can get competitive returns. The minimum investment requirement of this option is €1 million. Alternatively, you may invest a minimum of €1 million in shares in Spanish companies or bank deposits with a Spanish financial institution.
Business Projects in Spain
The projects that will be deemed proper for Golden Visa Spain must meet the following criteria:
- When it can be argued that it will be a motor of job creation.
- When the investment is expected to make a positive social or economic impact in the geographical area of the investment.
- When it represents a significant contribution to scientific and/or technological innovation.
There are currently more than 3,000 start-ups in Spain in which to invest. With the aim of promoting these projects, the government has implemented tax changes that favor investment in these companies. This option requires special care because of its legally complicated procedures. Therefore, it is highly suggested to go through the process with the help of an agent.
Spain Golden Visa Application Process
Spanish Golden Visa process is fairly straightforward. Here is a quick rundown of the essential steps:
- First, you choose your favorite investment option. The investment options are stated above under the heading of “Investment Options of Spanish Golden Visa”. Our team of Golden Visa experts can help you assess the investment options.
- After you make your decision, you prepare and submit the application for Schengen Visa.
- At this stage, you visit Spain to provide the authorities with the required biometric data. This part of the process usually takes around two months to complete.
- The final step of the application process is to wait for the result of the authority reviews. The process of approval or rejection usually takes around 20 days.
- Get your Spain Golden Visa and start enjoying its benefits.
I want to get more information about Spain Golden Visa process
Required Documents for Golden Visa in Spain
The following documents are required for the Spain Golden Visa application:
- Spain Golden Visa application form
- Two passport-size photos
- A valid passport
- Proof of health insurance
- Proof of sufficient funds to support yourself and your family in Spain
- Proof of no criminal record
- Proof of payment of Spain Golden Visa application fee
- Documentation proving the qualifying investment
Opening a Bank Account and the NIE Number
Having a Spanish bank account is essential to getting the Golden Visa in Spain. This account will be required for the authorities to track your financial activities regarding the Golden Visa Program. You will use it for the transactions related to the investment option you choose.
After you acquire your NIE number (Número de Identificación de Extranjero – Foreigner’s Identification Number), you’ll be able to open a Spanish bank account. The NIE number is essential for legal and financial transactions in Spain. It is required for property purchases, vehicle ownership, tax payments, and more.
Get more information about obtaining a NIE number in Spain
UCLA Property: Who We Are and How We Can Help You
UCLA Property is a specialist in Spain’s Golden Visa Program, and we’ve been serving clients for many years. Our experienced team of advisors provides a full service package from start to finish. We help our clients with the following:
- Finding the best investment option for your case
- Preparing your application file
- Ensuring all documents are completed correctly
- Legal support and guidance throughout the process
- Post-application support and renewal services
Our services are tailored to meet your unique needs and to ensure that your application process is as smooth and successful as possible.
Submitting the Application for Golden Visa to Spain
After you complete your investment and gather all the necessary documents, it’s time to submit your Golden Visa application. The application must be submitted either in person or through a legal representative at the designated immigration office in Spain.
The application process involves filling out the application form and attaching the required documents. The processing time for the application can vary, but it generally takes around 20 days for the authorities to make a decision. Upon approval, you will receive your Spain Golden Visa and can start enjoying the benefits of residency in Spain.
Learn more about submitting your application for the Spain Golden Visa
Spain Citizenship by Investment
Spain does not offer a direct citizenship by investment program. However, by obtaining a Golden Visa and maintaining your investment, you can eventually become eligible for citizenship through naturalization.
After five years of holding a residence permit, you can apply for permanent residency. Following 10 years of permanent residency, you can apply for Spanish citizenship through the naturalization process, provided you meet the required criteria.
Announced Updates for Spain Golden Visa in 2024
As of 2024, there are a few updates to the Spain Golden Visa Program:
- More streamlined application process
- Introduction of new investment options
- Increased focus on sustainable and innovative business projects
Spain Golden Visa Renewal Process
The Spain Golden Visa is initially valid for two years and can be renewed indefinitely, as long as you maintain your investment and continue to meet the eligibility criteria.
To renew your Golden Visa, you must submit a renewal application along with proof that you have maintained your qualifying investment and meet the necessary requirements. The renewal process is straightforward and can be completed with the assistance of an experienced advisor.
Find out more about the Spain Golden Visa renewal process
Golden Visa for Spain Benefits
The Spain Golden Visa comes with a range of benefits, including:
- Residence permit for Spain, allowing you to live, work, and study in Spain
- Visa-free travel within the Schengen area
- Opportunity to apply for permanent residency and eventually citizenship
- Access to high-quality healthcare and education
- The ability to include family members in the application
Frequently Asked Questions About Golden Visa for Spain
Here are some of the most commonly asked questions about the Spain Golden Visa:
- What is the minimum investment required for the Spain Golden Visa? The minimum investment required is €500,000 in real estate, €1 million in business development or capital transfer, or €2 million in Spanish Government Bonds.
- Can I include my family members in the application? Yes, you can include your spouse, children under 18, and dependent parents in your application.
- Do I need to live in Spain to maintain my Golden Visa? No, there is no minimum stay requirement to maintain your Golden Visa. However, to apply for permanent residency or citizenship, you will need to meet certain residency requirements.
- Can I work in Spain with a Golden Visa? Yes, the Golden Visa allows you to live, work, and study in Spain.
- How long does it take to get a Golden Visa in Spain? The application process usually takes around 20 days, but it can vary depending on individual circumstances.