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Spain has long been a popular destination for people seeking sun, culture, and a vibrant lifestyle. In recent years, the country has introduced a “Golden Visa” program, a residency-by-investment scheme that has attracted global attention. Below, we’ve compiled common questions and answers about Spain’s Golden Visa to help you decide if it’s right for you.

1. What is the Spain’s Golden Visa?

Spain’s Golden Visa (officially the “Entrepreneur Law”) is a residency permit granted to non-EU citizens who make a qualifying investment in the country. It is commonly associated with real estate purchases of at least €500,000, but other forms of investment also qualify. The Visa allows holders (and their families) to live, work, and study in Spain, with the possibility of eventually applying for permanent residency.

2. Who is Eligible to Apply?

To apply for the Golden Visa, you must fulfill the following criteria:

  • Be a non-EU / EEA / Swiss national
  • Be of legal age (18+)
  • Have a clean criminal record
  • Have medical insurance covering Spain
  • Not be on Spain’s list of undesirable persons or have been refused entry into any Schengen Area country
  • Make a qualifying investment (detailed below)

3. What Are the Qualifying Investments?

There are several pathways to obtain the Golden Visa. The most common are:

  1. Real Estate Investment
    • Minimum investment of €500,000 in Spanish property (residential, commercial, or land).
    • The investment can be spread across multiple properties as long as the total reaches the threshold.
  2. Capital Investment
    • Deposit a minimum of €1,000,000 in a Spanish bank account.
    • Purchase shares or invest in Spanish companies.
    • Acquire Spanish government bonds with a minimum value of €2,000,000.
  3. Business Project
    • Develop a business project in Spain with “general interest” characteristics (e.g., creating jobs, contributing to scientific or technological innovations, or having a significant socioeconomic impact).

4. How Long Does the Application Process Take?

In most cases, the visa application is processed relatively quickly compared to other residency permits:

  • Initial visa approval can take 10–15 working days.
  • After arriving in Spain, you must apply for the residence permit at the relevant authority. This step can take a few more weeks.
  • Upon approval, you receive a residence permit valid for two years, renewable every five years thereafter (subject to meeting the conditions).

5. What Are the Benefits of the Golden Visa?

Obtaining a Spanish Golden Visa comes with a host of advantages:

  • Schengen Travel: Freely travel within the 26 Schengen Area countries without additional visas.
  • No Minimum Stay: Unlike some residency permits, there’s no minimum stay requirement to keep the permit active (though you’ll need to consider stay requirements for eventual permanent residency or citizenship).
  • Family Inclusion: Spouse, children (minors or dependent adults), and dependent parents can be included under one investment.
  • Work Authorization: You and your family members are allowed to work in Spain if you wish.
  • Pathway to Permanent Residency and Citizenship: Over time, you can transition to permanent residency or even apply for Spanish citizenship if you meet residency requirements (usually 10 years of continuous legal residence for most non-EU nationals).

6. Common Questions

  1. Do I need to live in Spain to keep the Golden Visa?
    • Technically no, the program doesn’t require a specific minimum stay. However, if your goal is to apply for permanent residency or citizenship later, you must fulfill the relevant residency requirements.
  2. Can I rent out my Spanish property?
    • Yes, you can rent out the property you purchased as an investment, which can help offset costs or even generate income.
  3. Is healthcare covered for visa holders?
    • You must have private healthcare insurance (at least initially), but once you reside in Spain and contribute to social security, you may access public healthcare under certain conditions.
  4. What happens if I sell my property?
    • If selling the property drops your investment below the required threshold, you risk losing the qualifications for renewal unless you reinvest in another qualifying asset before renewal.
  5. Does the Golden Visa grant immediate citizenship?
    • No, a Golden Visa grants residency, not citizenship. You may apply for citizenship after meeting the established time (usually 10 years of uninterrupted residency, unless you come from specific countries with shorter requirements).

7. Tips Before You Invest

  • Consult Professionals: Work with reputable lawyers, real estate agents, and financial advisors who specialize in Golden Visa cases.
  • Check the Real Estate Market: Evaluate property prices and locations thoroughly to ensure a strong investment.
  • Understand Tax Implications: Spain has its own tax rules that may affect worldwide income if you become a tax resident.

Conclusion

Spain’s Golden Visa offers a flexible and relatively quick path for non-EU investors and their families to reside in one of Europe’s most culturally rich countries. By meeting the qualifying investment and legal requirements, you can enjoy the benefits of Spain’s lifestyle, travel privileges across the Schengen Area, and potentially open the door to permanent residency or citizenship down the road.

If you’re considering this opportunity, it’s essential to seek professional advice to ensure you follow every step correctly and make the most of your investment.

Disclaimer: The information provided in this article is for general guidance only and does not replace legal or financial advice. Always consult qualified professionals before making any investment or immigration decision.