Located in the South West of Europe, Spain is one of the most popular tourist destinations thanks to its rich history, breathtaking scenery, and vibrant culture. Spain isn’t just about pleasure, with a robust economy, welcoming atmosphere, and high quality of life that attracts investors. With a thriving business environment, Spain is a beacon for those who want to embrace a life infused with passion, adventure, and endless possibilities.
For those who want to reside in this flourishing country, the Spanish golden visa residency program from 2003 offers people an opportunity to gain residency through investment and other means. Those who acquire a Spanish Golden Visa will be able to travel in the Schengen area, reside in Spain, and possibly qualify for benefits that citizens have access to like healthcare and public education.
Like other countries in the Schengen area, acquiring a Spanish Golden Visa through investment opportunities lets you enjoy many of the benefits that citizens have access to like unrestricted travel and business opportunities. With a variety of options to obtain residency, each option has its specific benefits with varying requirements to stay in the country, visit the Schengen area for different periods of time, and public services.
For those with a Spanish Golden Visa, they can freely travel to the Schengen Area for different periods of time without losing their residency depending on which residency program they are under. The Schengen Area now includes 25 member states of the EU, after Bulgaria and Romania were admitted into the Area in December 2023. Besides, visa-free access is permitted into Iceland, Liechtenstein, Norway, and Switzerland, plus micro states such as Andorra, Monaco and San Marino. Some neighboring countries such as Morocco or Montenegro provide visa waiver conditions for certain nationals with a valid long-term resident card.
Spanish Permanent Residency holders can apply for citizenship after 10 years of residing in the country. Applicants have to pass a cultural and language test and get the same benefits that all citizens of EU countries hold.
A shortened 2-year effective residence rule applies for nationals of Latin America, the Philippines, and Equatorial Guinea, as well as nationals of any country of Sephardic Jewish ancestry.
Immediate family members, your spouse, and dependent children are also granted residency with a Golden Visa from Spain. Depending on which residency program you are under you may be able to include your parents as well if you can prove that they are dependent on you.
Descendants over 18 years of age are also eligible for residence, as long as single and financially dependent.
Those who have permanent Spanish residency can make use of healthcare provided by the state as well as enroll children in public schooling.
Spain offers a variety of residency options through investment. The earliest programs involve owning a non-profit residential home that one lives for the majority of the year and another involves investing in property or business that create jobs. A financial investment in either a Spanish mutual fund or a bank deposit is also eligible.
For a Golden Visa that grants permanent residency, a minimum of EUR 500,000 has to be made in real estate property. In the case of financial assets (bank deposit, company shares or mutual funds), the minimum amount is EUR 1 million.
Husbands, espouse and civil partners of any gender are eligible as family members. Minor children are eligible too, as are children above 18 years, as long as they are single and financially dependent on the main applicant. Evidence of financial solvency must be submitted, depending on the number of dependent family members.
Permanent residence can be accessed after 5 years of effective residence in Spain for any type of residence permit.
Obtaining residency through investment in Spain is relatively straightforward when done with the right agency. The process can take anywhere from a month to three months depending on the residency route chosen and how quickly the investment goes through. For a complete in-depth guide to acquiring a Spanish Golden Visa, speak with a consulting agency.
The first course of action you want to take is to familiarize yourself with the Spanish residency programs through investment. The minimum amount is EUR 500,000 so it is important to get a good idea of where you want to put your money. An agent can offer helpful insight as to what investments best fit your needs.
To begin acquiring real estate and conducting investments, you first have to register in Spain as a foreigner. This can be done abroad and requires notarizing your documents, opening a bank account, and providing proof of finances.
The four primary ways of acquiring residency through investment are through purchasing property or investing money into the country.
Purchasing a property that is worth at least EUR 500,000 is the most affordable option and earns your residency in 2-3 months.
By depositing a million Euros into a Spanish bank, you can acquire residency in a month. It is important to note however that it can take up to three weeks to open a bank account depending on which bank you work with.
Another method of acquiring Spanish residency through investment is buying a million Euros worth of shares in a domestic company. This has to be done through a Spanish broker and the money must come from a Spanish bank account.
A method with non-objective criteria is going through with a business plan. An approved business plan that generally requires at least EUR 250,000 of investment in the initial state can be approved and grant you residency.
After the investment is finalized, you and your family have a few options to receive residency. An appointment can be made at a consulate, which may take up to a month, to submit the application. This method gives applicants a one-year visa which can be turned into a three-year visa afterwards.
If you and your family go to Spain to submit the final application at the Ministry of Migration, the 3-year visa will automatically follow once the application is approved.
Once approved, passport photos and biometrics are submitted, and you will be a resident of Spain.
For permanent residency through investment, a minimum of EUR 500,000 investment must be made into real estate. However, a Spanish Golden Visa may not be necessary for your needs and you could be able to get by with an entrepreneurial visa or a digital nomad visa that has much more lenient demands to be granted residency.
Investor residence does not require effective residence in Spain at all. Other types of residence (e.g. digital nomad, entrepreneur, and non-profit) do require effective residence for renewal.
The benefits include the right to live, work, and study in Spain, access to public healthcare and education systems, visa-free travel within the Schengen Area, and the opportunity to apply for Spanish citizenship after 10 years. (2 years only for particular cases and nationalities).
The Spanish civil residence does not automatically lead to tax residence. In principle, tax residence is triggered based on effective residence in Spain of at least 183 days per year.
Investors are taxed on the basis of their assets in Spain, through the Non-resident Annual Tax
Return at 24% of their annual income. However, if the property is not rented, to stimulate rentals, the Spanish government will still apply a “fictitious rent” equal to 1-2% of the property’s cadaster value.
For investors planning to effectively live in Spain, the risk of high taxation may be avoided by using local corporate vehicles, registering in nearby low-tax jurisdictions (e.g. Andorra, Gibraltar), or by applying for the “Beckham Rule” for expatriates (which guarantees a tax cap for 6 years). A customized international tax plan is strongly encouraged in such cases.
