Spain Golden Visa by Investment

15 abril 2024

Al mal tiempo, buena cara. ~ Popular Spanish saying that means, 'even when things go wrong, everything works out better with a positive attitude.'

La Sagrada Familia Barcelona

Introduction #

Spain is one of the few EU countries that still maintains the Golden Visa in force, making it a great opportunity to always have the doors open to any EU country.

The Golden Visa is the most efficient residency-by-investment program in Spain. This program provides many benefits to non-EU investors, such as obtaining residency permits in a Schengen Area country (EU plus Switzerland, Norway, Iceland, and Liechtenstein) for investors and their families.

The Golden Visa will allow you to travel freely and visa-free within the 27 countries that make up the Schengen Area. It provides the opportunity to be a non-tax resident in Spain, thus living in a non-EU country while maintaining legal residency in Spain and settling and living in any place in Spain.

Luxury Estate in Mallorca Spain copy 2

Popular Reasons to Apply #

The Spain Investor Visa program is #1 country for Americans in 2024, followed by Chinese, Russians, Venezuelans, Ecuadorans, Brazilians, and Indians. Over 13,000 Golden Visas approved. The biggest motivator for those selecting this type of visa for Spain is no minimum period of residence is required when using the Golden Visa.

After meeting the criteria, if someone applies for Spanish citizenship by investment, Golden Visa holders with a temporary residence permit must live in Spain for 10 years (minimum 183 days per year). The person can not be absent from the country for more than 6 months continuously in these 10 years. For nationals of former Spanish colonies, the stay requirement is that they live in Spain for 2 years and can't be absent from the country for more than 3 months per year.

Many countries have increased their requirements or eliminated Golden Visas across Europe. The application for the Spain Golden Visa is one of the easiest, known for its speed and clarity. Key benefits and advantages include:

  • Visa-free travel through the Scheghen Area.
Good healthcare

Current Options #

Today I want to talk to you about the opportunity to obtain the Golden Visa through the purchase of real estate for an amount equal to or greater than €500,000. This is the most chosen pathway by foreigners who have the Golden Visa in Spain.

There are other products in which you can invest, but the minimum investment amounts range from €1million to €2million, depending on the case:

  • €2million in Spanish public debt securities, or
  • €1million in shares or equity stakes of Spanish capital companies with a real business activity, or
  • €1million in investment funds or
  • €1million in bank deposits in Spanish financial institutions.

I believe it is worth highlighting the idea of depositing €1million in a Spanish bank account. You can apply for the Golden Visa and subsequently use that money to comfortably purchase a property for a price equal to or greater than €500,000 and continue to benefit from the Golden Visa.

If you want to apply for the Golden Visa, you can come to Spain as a tourist and within 90 days of stay or Schengen visa. Then, you can apply while in Spain and the process will be fast-tracked (with a maximum response time of 4 weeks). The application will be online (no need to provide physical documentation), and the initial visa duration will be 3 years (renewable for 5 years).

Recent Announcement on Elimination of the Golden Visa #

Prime Minister of the Spanish Government, Pedro Sánchez, has just announced on April 8th, 2024, that the Spanish Government will eliminate the Golden Visa for real estate investors. Sánchez said the decision was made to make affordable housing a "right instead of a speculative business." He added, "Today, 94 out of 100 such visas are linked to real estate major cities facing a highly stressed market where it's almost impossible to find decent housing for those who already live, work, and pay their taxes."

The Government has not yet provided information on when this legislative change will occur. In the meantime, everything remains the same. Golden Visa applications for real estate investors are being processed without any impediment, as only a political announcement has been made with no legal effect.

We still do not know how this modification will affect the subsequent renewals of the Golden Visa. We hope to be able to provide this information as soon as possible.

Village in Mallorc A copy

Considerations for Real Estate Golden Visa #

You should know that you cannot purchase a €500,000 property with a mortgage, although you can buy a more expensive property, contribute the first €500,000 in cash, and pay the rest with a mortgage. It is also important to note that if you are married, the marital property regime may affect the calculation of the investment made even if you buy solely in your name and not jointly with your spouse. I am able to provide details based on your personal circumstances.

Alternatives to Golden Visa #

There are other options to live in Spain without needing to invest €500,000 in real estate.

For example, you have these two options:

  • If you are retired or do not need to work but receive periodic income or have savings, you can obtain a non-lucrative visa. You cannot work in Spain or remotely, but you will have a one-year (renewable) residence permit to live in Spain and move around the EU.
  • If you can work remotely for a company or in your own business, you can directly apply for a digital nomad visa in Spain for three years duration. The same procedural rules as for the Golden Visa apply, so we still recommend applying directly for the visa in Spain.

I am able to provide better guidance to you once I know your individual circumstances. Please contact me directly at My Direct Email and I will respond as soon as possible.

La Trapa Monastery and Sa Dragonera

Further Resources - Suggestions from our editor #

For tax information for non-resident property owners, you will have a tax consequence both in Spain and your home country. If you have a property or wish to purchase another property, check out >> Taxes for Non-Spanish Tax Residents With Properties in Spain.

If you are an American, Affordable Mallorca has an article on Taxes in Spain for Americans.

Our Affordable Mallorca team has created a comprehensive guide on investing in Spain. For a deep look at the investment opportunities, here is an article

Picturesque Mallorca village Deia

Conclusion #

As you can see, investing in Spain is a great opportunity to get the Golden Visa and always have the doors open to any EU country.

There are several possibilities and many details to consider that could jeopardize obtaining the Golden Visa. For this reason, we recommend seeking legal advice before investing in Spain to obtain the Golden Visa. If you are interested in obtaining the Golden Visa or if you are in the process of buying a property or preparing the application, we recommend not delaying the process to take advantage of the current Golden Visa regime.

If you are interested in applying for the Golden Visa or any other type of visa and have questions about the aspects to consider, you can contact me at the email address [email protected] or by phone at +34 655 316 904.

Port Andratx Sunset


  • Personal and Professional Experience


  • Personal and Professional Experience

15 abril, 2024

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