Golden visas for Spain

The Spanish Golden Visa (visa de oro) or investor visa (visado de inversor) provides residency in Spain in exchange for significant investment.

Between 2013 and 2022, Spain issued 11,464 golden visas, 94.3% of which related to real estate investments. However, the Spanish government intends to phase out this option in 2024. Most of these visas were granted to investors from China and the Russian Federation.

If you’re considering applying for a golden visa, read about the processes, required documents, and costs in the following sections:

What is a golden visa?

A Spanish golden visa is a document that provides residency in Spain to non-EU nationals who make a substantial investment in the country. This investment can take the form of financial capital, real estate, or a business, and the visa offers several benefits:

• The right to live and work in Spain
• Visa-free travel throughout the Schengen zone
• The opportunity for family members to join

The visa lasts for a year and can be renewed for two-year periods up to five years. After this, you can apply for permanent residence.

Eligibility criteria for a golden visa in Spain

Aside from making an investment in Spain, there are a few eligibility conditions that you must meet when applying for a golden visa. The applicant must be at least 18 years old, and the other requirements are:

• Financial means: You must have a regular source of income of at least 400% of the Spanish Public Multiple Effects Income Indicator (IPREM). The IPREM is used as a reference for aid, subsidies, and benefits and amounts to €600 per month in 2024. Any accompanying family members must have 100% of this available.
• A clean criminal record for the past five years
• Health insurance: You must have a valid policy with an insurance company permitted to operate in Spain.

Although the investor visa permits you to live in Spain, there is no minimum stay requirement.

What are the investment requirements for a Spanish golden visa?

To apply for a golden visa for Spain, you must make a ‘significant capital investment.’ There are three options: investment in financial assets, property, or a business project.

Financial assets may include:

• €2 million investment in Spanish public debt securities
• €1 million in stocks or shares of a Spanish company
• €1 million in investment or venture capital funds
• €1 million deposit in a Spanish bank or financial institution

To acquire residency by real estate investment, a golden visa applicant must buy a property worth at least €500,000. However, the Spanish government intends to abolish this option in 2024.

The final option is to invest in a business project in Spain, which must provide:

• A beneficial socio-economic impact on the local area
• A significant contribution to scientific or technological innovation

Required documents

Once you’ve decided to apply for a Golden Visa, you’ll need to gather the following documents:

• Visa application for each applicant: you can find the necessary forms on your local Spanish embassy or consulate website.
• Passport-size photograph: a recent color photo of your face.
• Valid passport with a photocopy of biometric pages: must have been issued within the last 10 years and be valid for at least a year.
• Details of investment: you can find out which documents you require for each investment on the PRIE Portal.
• Proof of financial means: original and copies of documents for the applicant and accompanying family members.
• Criminal record check certificate: original and copy issued by your home country no longer than six months ago, plus a declaration of absence of criminal record.
• Original and copy of health insurance certificate
• Proof of residence in consular district: evidence that you live in the district of the consulate where you’re submitting your application. Visit your local consulate’s website for the requirements.
• Payment of visa fee: check your consulate’s website for specific fees.

If applying through a representative, you must also provide proof of their identity and capacity. Foreign documents must be legalized or apostilled and officially translated into Spanish.

How to apply for a golden visa for Spain

For capital and business investments, you can apply for the Spanish golden visa within a year of investing. This limitation does not apply to real estate, but you must have acquired the property after 29 September 2013.

Once you have all your documents, check with your local consular office to find out how and where to submit them. You may need to book an appointment at the consulate itself or at a separate visa application center.

You will receive proof of receipt and be informed if any additional documents or an in-person interview are required.

How long does it take to get a Spanish golden visa?

Once you’ve applied for your Spanish golden visa, the consulate should inform you of the decision within 10 days of submission, but it may be longer if they need further information.

You or your representative must pick up the visa in person within a month of it being granted. If your visa application is refused, you have a month to appeal the decision.

How much does a golden visa for Spain cost?

Most non-EU citizens pay a fee of around €80 for an investor visa. However, citizens from the following countries must pay a different amount due to reciprocity:

• Australia
• Bangladesh
• Canada
• Ethiopia
• Mauritania
• United Kingdom
• United States

Check with your local consulate to find out the precise charges – these change on an annual basis and can vary according to exchange rates.

Can my family join me on a golden visa in Spain?

Family members can join investors on their golden visa. This includes married or unmarried partners, children, and parents over 65.

In most cases, they should submit an original and a copy of the following documents:

• Visa application
• Passport-size photograph
• Valid passport with a photocopy of biometric pages
• Original and copy of health insurance certificate
• Proof of residence in the consular district
• Documents showing family relationship with the investor, such as a birth or marriage certificate or evidence of financial dependence
• Payment of visa fee

The consulate may require additional documents, so check their website before applying. For a more general overview of joining family abroad, read about getting a family visa for Spain.

Citizenship and permanent residency

Unlike other programs, such as Portugal’s golden visa, Spain’s investor visa does not allow for fast-track permanent residency or citizenship. Like other residents, you may apply for permanent residency after five years of living in the country and citizenship after 10 years.

You can read more about the requirements and procedures in the articles on permanent residency and citizenship in Spain.

Advice on investment visas in Spain

As moving to Spain and handling a visa application on top of an investment involves a great deal of administration and legalities, it’s worth enlisting the help of a professional. Many legal firms and advisors in Spain can provide expert advice for internationals.

You can find listings of immigration lawyers and services in the Expatica Directory.

Useful resources

• Consulate of Spain in London – information on the visa application process for investors
• Residency Program for Investors and Entrepreneurs (PRIE) portal – details on requirements for investment visas
• Spanish Ministry of Foreign Affairs, European Union and Cooperation (Ministerio de Asuntos Exteriores, Unión Europea y Cooperación) – list of embassies