What is the Golden Visa in Spain and how does it work?
La Golden Visa It is a residency by investment program that allows citizens from outside the European Union to obtain a residence permit in Spain. It is granted to those who make significant investments in the country.
This visa offers mobility benefits within the Schengen Area and the possibility of regularizing residency for investors and their families. It does not require a minimum stay in Spain, making it attractive for those who do not wish to reside permanently.
Essential requirements to obtain the Golden Visa
In addition to the minimum investment required, the applicant must comply with legal regulations, demonstrate solvency, and have no criminal record.
General conditions for investors
Applicants must meet the following criteria:
- Be of legal age and not belong to the EU.
- Not to be listed as an illegal resident in Spain.
- Lack of criminal record in Spain and in previous countries of residence.
- To have sufficient financial means to support oneself and one's family.
- Having private health insurance in Spain.
Mandatory documentation
To apply for the Golden Visa, it is necessary to gather documentation that proves the investment and compliance with the requirements.
- Valid passport.
- Proof of investment (property deed, bank certificate, commercial contract).
- Criminal records.
- Private medical insurance.
- Proof of sufficient financial means.
With this documentation, interested parties must submit the application to the Large Companies and Strategic Groups Unit of the Spanish government or through the Spanish consulate in their country of residence.
The lawyers of Supra Legit they advise him apply from Spain to streamline the process.
Investment options to access the Golden Visa
The program allows for different types of investment, adapting to various investor profiles. The most common option is the purchase of real estate.
In addition to real estate investment, investments in financial products and business ventures in strategic sectors are being considered.
Real estate investment in Spain
The most requested option is the purchase of real estate with a minimum value of 500.000 euros, without financing:
- The investment must be in real estate registered in Spain.
- Multiple properties can be purchased to reach the minimum required.
- The amount must be net, without mortgages or loans.
Investment in financial assets
There are alternatives in financial products regulated by Spanish legislation:
- 2 million euros in Spanish public debt.
- 1 million euros in bank deposits in Spanish financial institutions.
- 1 million euros in shares or stock in Spanish companies.
Business creation and entrepreneurship
The government encourages investment in business projects with an impact on the national economy:
- It must be demonstrated that the business generates employment in Spain.
- It must contribute to technological or scientific development.
- It is necessary to justify its positive economic impact.
Detailed process for applying for the Golden Visa
The application process is designed to be quick. It is recommended to prepare the documentation in advance.
The process can be carried out from Spain or from the applicant's country of origin through the consulate.
Step-by-step procedure
- Investment reservation (property purchase, opening of bank account, etc.).
- Preparation and submission of the required documentation.
- Application for the Golden Visa at the Spanish consulate or in Spain.
- Approval of initial residency for two years.
- Renewal every five years if the investment is maintained.
Processing time and administrative fees
The resolution time is usually quick. On average, the process takes between 20 and 30 business days from the date of submission.
- Administrative fee for the application: between 70 and 100 euros.
- Additional notary and legal costs depending on the investment.
Latest updates and future of the Golden Visa in Spain
The enactment of Law 1/2025, of January 02nd, brought with it the elimination of the Golden Visa program. This Law will come into effect on April 03rd, 2025, and from that date the Golden Visa will cease to exist.
However, those investors or family members of investors who, prior to the date of entry into force of the aforementioned Law, had submitted the corresponding application, may receive the corresponding visa or authorization in accordance with the regulations in force on the date of submission of the application.
Similarly, visas and authorizations valid on the date the Law enters into force will remain valid for the period for which they were issued. Applications for renewal may be submitted and will be processed and decided in accordance with the regulations in force on the date the initial authorization was granted.
Alternative options following the elimination of the Golden Visa
Once the program is eliminated, foreign investors will still have options to reside in Spain, such as:
- Entrepreneur visa: for those who wish to develop an innovative business project in Spain.
- Non-profit residence visa: aimed at people with sufficient financial means who do not plan to work in the country.
- Digital Nomad Visa: for those who work remotely and wish to settle in Spain.
- Residence permit for investment in strategic sectors: if the government decides to redirect foreign investment towards key sectors for the Spanish economy.
In any case, those interested in the Golden Visa are advised to start their application process as soon as possible, before the changes come into effect.
Frequently Asked Questions about the Golden Visa
How long does it take to get approved?
The application process for the Golden Visa in Spain is relatively quick compared to other visas. Generally, the processing time is 20 to 30 business days from the date of submission of all required documentation. However, this timeframe may vary depending on the complexity of the case and the workload of the Spanish administration.
Can family members be included in the application?
Yes, the Golden Visa allows you to include immediate family members on the same application. This includes:
- Spouse or de facto partner.
- Minor children or financially dependent, regardless of age.
- Dependent ascendants, such as parents or in-laws who are financially dependent on the applicant.
All family members benefiting from the Golden Visa obtain the same rights of residence and mobility within the Schengen area.
Does the Golden Visa allow you to work in Spain?
Yes. Although the Golden Visa originally only granted residency without work authorization, since 2015 visa holders and their families have been allowed to work in Spain without restrictions, either as employees or self-employed.
What are the associated costs?
The costs to obtain the Golden Visa in Spain include:
- Minimum investment (depending on the type of investment):
- 500.000 Euros in real estate.
- 1 million euros in bank deposits or shares in Spanish companies.
- 2 millones de euros in Spanish public debt.
- Administrative fees:
- Between 70 and 100 euros for the request.
- Additional costs for notary and legalization of documents.
- Legal and advisory feesIf a lawyer or agent is hired for the application, the costs can range between 3.000 and 10.000 euros depending on the service.
- Insurance and maintenanceThe applicant and their family must have private health insurance in Spain and demonstrate sufficient financial means for their support.
It is advisable to seek legal advice to avoid errors in the application and expedite the process.
Conclusion
It is recommended that those interested in the Golden Visa Begin your application process as soon as possible before the program ends. Consulting with a legal expert can help ensure you meet all the requirements and avoid delays.
Supra Legit Lawyers She has extensive experience in immigration law and working with international clients. We have successfully managed more than 200 cases in recent years and we are here to guide you through the entire process, acting quickly and efficiently.
