Spain is one of the top tourist destinations in the world and is a stunning country. It's a safe and supportive country to live in too with excellent healthcare, education and transport amenities. Everyone desires to travel to Spain at least once in their lifetime, and some even desire to spend their entire lives there. Obtaining a Golden Visa is the quickest way to become a resident of Spain.

In 2013, Spain introduced its Golden Visa programme (otherwise known as the "investor visa" or "Schengen Visa"). A family can migrate to Spain with a €500,000 real estate investment. Every two years, the Spanish investor visa is renewable. Permanent residency is possible after five years, and citizenship is possible after ten.

To keep and renew the residency visa permit, you do not have to reside in Spain.

Note: All conversions from Euros to US Dollars mentioned in this article are subject to fluctuations in conversion rates and are there to give our readers a general idea of the values. The conversion values should not be used by anyone to plan your final budgets!

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What is a Golden Visa?

What is the Schengen Zone?

Benefits of Obtaining a Spanish Golden Visa

Where can I invest?

Requirements for Obtaining a Spanish Golden Visa

What documents do I need to Obtain a Spanish Golden Visa?

Property Investment Requirements

How long is the Golden Visa Spain valid for?

What is a Golden Visa?

The golden visa is a Spanish residence visa for non-EU nationals who intend to make a significant investment in the Spanish economy. This visa has the simplest procedure with the most benefits. It offers the applicant and their family members residency in Spain and also allows them to travel to the Schengen Zone visa-free! Your family members will need to apply for their own visas as dependents, showing any birth or marriage certificates to prove family relation.

Do you dream of owning a glorious villa with a pool to relax beside, possibly drinking a cocktail or smoothie in the sun? Or perhaps you would love to own a penthouse flat with amazing views, access to a large communal pool, gym, communal grounds and with local bars to enjoy some tapas with friends?

If you have at least €500,000 ($545,725) cash to invest in your dream home then you have the added benefit of being able to apply for a Golden Visa as this is the most popular investment made to gain one.

If you still fancy the Spanish lifestyle but don’t want to invest in property then you can also invest in a Spanish company or Spain itself which is why the Golden Visas are also called the Spain Investor Visas.

What is the Schengen Zone?

The Schengen Zone is an area of 26 European countries that have open borders between them to allow free travel of people, goods, and services. It's named after the town of Schengen in Luxembourg, where the treaty was created in 1985. Travellers who enter the Schengen Zone do not need a visa, passport, or border checks. Residents of these countries can stay within any of the other member countries for as long as they like. They share common rules for controlling external borders and fighting criminality by cooperating within common judicial systems and police cooperation.

The countries currently in the Schengen Zone (accurate as of June 2023) are Austria, Belgium, Czech Republic, Croatia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, and Switzerland. If you would like more information about the Schengen Zone, visit this website: Information about the Schengen Zone.

Benefits of Obtaining a Spanish Golden Visa

As a Spanish resident, you will be able to travel visa-free to all Schengen Zone countries for up to 90 days in a 180-day period and so can your family members.

In order to renew your residence permit you do not have to live in Spain, but you must visit Spain at least once a year.

• You are free to work in Spain.
• You are able to bring your family members with you and they will also receive a Visa.
• You and your family members will have access to public services like schooling and health care. Family members that can be included on your Spain Golden Visa are:
  • Spouse (or long-term partner with evidence of relationship).
  • Children under the age of 18.
  • Children over 18 that are dependent on you for health or mental reasons.
  • Dependent elderly parents.

Where can I Invest?

To qualify for a Golden Visa, you must make one of the following investments:

• Purchase property in Spain worth at least €500,000 ($545,725). This can be in one house or several properties, as long as the total cash investment is no less than €500,000.
• Invest in the Spanish public debt, for example, Spanish Treasury Bonds of €2,000,000 ($2,182,900) or more.
• Buy shares in a company, investment funds or deposit money into a Spanish bank account of at least €1,000,000 ($1,091,450).
• Invest in a new business that will contribute to scientific and/or technological innovation that will offer employment opportunities and have a relevant socio-economic impact in the local area.

Requirements for Obtaining a Spanish Golden Visa

In addition to one of the investments above you must also:

• Be over 18 years old.
• Not be a citizen of an EU country.
• Not have any criminal records.
• Not have previously been refused a Schengen Visa.
• You will need to have private or public health insurance with an insurance company that is authorized to operate in Spain.
• Have sufficient financial resources to support yourself and your family during your residence in Spain.
• Pay visa fees. Lawyer fees will apply for the processing of the golden visa for the applicant and family. Such fees will vary depending on family make-up and situation. It is recommended to allow for approximately 8,000 Euros for a single application or 10,500 Euros for a family application. There is also a government processing fee of 70 Euros ($76.40) per applicant.

What documents do I need to Obtain a Spanish Golden Visa?

• Application form fully filled in and signed.
• Passport (you will need to bring a photocopy of all pages).
• Two Spanish passport-sized photos (these are slightly smaller than the UK size).
  Certificate of criminal records issued by your country of residence during the last five years, issued within three months prior to the application.
• Your resident permit (If you are not a citizen of the country you live in).
• Proof of sufficient financial resources or income to cover your living costs for yourself and your family while you are in Spain.
• Certificate of health insurance.
• Proof of visa fee payment.
• Any documents related to your investment.

Any documents in a language other than Spanish must be legalized (attested with the Apostille of the Hague by the issuing country) and you must include a certified translation into Spanish.

You will also need to bring a copy of all documents listed and the originals to show the civil servant.

Processing time usually takes around 60 days.

Property Investment Requirements

You must invest a minimum of €500,000 ($545,725) cash in real estate. You can invest the whole amount in one single property or you can spread the investment over several properties. These can include villas, apartments, fincas, land and building plots.

For example, you could purchase a home for you and your family to live in for €350,000 ($382,007) and a second property as an investment of €150,000 ($163,717).

You could purchase a house in excess of €500,000 ($545,725) with a loan for the amount over €500,000 ($545,725). As long as your cash investment is at least €500,000 ($545,725) and you are the sole owner of the investment. When purchasing a property in Spain, it is important to remember that the minimum investment needs to be €500,000 ($545,725), this is not including taxes and legal fees. Therefore you will need to add approximately 9-13% on top of the purchase price for taxes and legal fees.

What happens next?

You can submit your visa application to your nearest Spanish Embassy or Consulate in your home country.

The investment does not necessarily need to be finalized at the time of application but you must show evidence of being committed to making the investment. For example, if you are purchasing property but the sale has not been finalised you will need to submit the preliminary contract, with proof of deposit paid, with a certified letter from your Spanish bank proving the readily available funds required to finalise the sale.

How long is the Golden Visa Spain valid for?

The Spanish Golden Visa is valid for 12 months. You then need to go to Spain within those 12 months to personally exchange your Golden Visa for a residence permit, which will be valid for two years.

Providing your investment is still in place, you can renew your permit indefinitely, without any minimum stay requirements, though you will need to visit Spain personally each time you need to renew your permit.

You can apply for permanent residence, if you intend to live in Spain at least six months of every year, after five years of continuous residency.

If you live in Spain for more than 6 months of every year, continually for 10 years then you can apply for Spanish citizenship and a Spanish passport.

We can help you find your dream home or investment in the sun, with over 35 years of experience, we are confident we can help you live your dream in Spain!

We sell properties in Alhaurín El Grande, Alozaina, Coín, Guaro, Mijas, Monda, Tolox and anywhere else in and around the Guadalhorce Valley off the Costa del Sol in Spain. Check out some of the wonderful properties we have to offer or call us on(+34) 951 242 157 if you have any queries!

We look forward to helping you find your dream home in Spain!