Spain Golden Visa: The Ultimate Spanish Residency Guide
noviembre 28, 2024
Update: Spain Government Plans to Terminate its Golden Visa Program in January 2025
The Spanish government has officially moved to cancel its popular residence-by-investment scheme, commonly referred to as the ‘golden visa’, effective January 2025.
The government’s bill is still undergoing various stages in parliament, but it’s looking increasingly likely that the end of the Spanish Golden Visa is near.
The decision marks a pivotal shift from prior speculations suggesting the minimum investment threshold might be doubled from €500,000 to €1,000,000, particularly in real estate investments.
Citing major concerns over national security and the escalating housing prices in urban centres, such as Madrid and Valencia, the Spanish authorities have decided to axe rather than alter the program.
These regions have seen a sharp rise in property costs, attributed largely to the influx of investments through the golden visa, rendering housing unaffordable for the average Spaniard.
Opponents of the decision argue that the real issue stems from a chronic undersupply of housing combined with surging demand rather than the influence of foreign capital.
Nonetheless, pressure from the European Union, which has flagged the golden visa as a potential security liability, has played a crucial role in tipping the scale towards the cancellation of the Spain Golden Visa program.
At Nomad Capitalist, we view this development as a cautionary tale. For those looking to secure their assets and establish residency through such schemes, it’s crucial to understand the area is complex and subject to ongoing change.
With changes to Portugal’s golden visa program in early 2024 and now Spain’s announcement, we urge anyone examining their CBI options to reach out and get in touch.
Spain Golden Visa: the End May Be in Sight
It used to be so simple to get Spanish residence via one of its various investment options and enjoy visa-free travel to the rest of the European Union (EU).
Alas, those days may soon be coming to an end with news that the Spanish government is moving to end the Spain GB as soon as January 2025.
Spain isn’t the first country to make massive changes to its residence-by-investment program, though.
Ireland has closed its program, Portugal overhauled its golden visa, removing the property investment option, Greece’s program has become more expensive and Malta is under pressure from the EU to shut it down.
That said, Spain’s residence-by-investment program hasn’t ended yet, which means you can still apply for a Spanish golden visa. If you want to get in before it closes, here is what you need to know and how to apply.
Spain Golden Visa Requirements
- Invest a minimum of €500,000
- Get residence in the European Union in two to three months
- No physical residence requirement.
Spain is a vibrant, diverse country with golden beaches, stunning cities, beautiful countryside, delightful wine and tapas on every corner. Add to that a high quality of life, and it’s very much the definition of a happening place.
But ever since the global recession of 2008, Spain’s poor economic decisions have come home to roost in the form of high unemployment and property price crashes in some parts of the country.
Many EU citizens have taken advantage of this and bought up the inexpensive real estate on Spain’s coastline in the south, as well as in charming internal cities like Granada.
As part of its economic recovery efforts, the government launched the Spanish Residence by Investment (RBI) program in 2013. Also known as a golden visa, the program has made it relatively easy to obtain residency, and the country welcomes investors and entrepreneurs with open arms.
Would you like to spend €500,000 to purchase Spanish real estate and obtain a European residence? Or would you rather park €2 million in government bonds?
Whichever investment option you choose, it will take around three months before you can call yourself a Spanish resident and travel visa-free throughout the Schengen area.
That sounds appealing, but the journey towards becoming a Spanish citizen is not one you want to embark on alone, especially since Spain is also famous for its bureaucracy.
So let this in-depth analysis and the Nomad Capitalist team help you and ensure the process is smooth and simple.

What is a Golden Visa?
If you’re new to the residence by investment (RBI) world, then read our second residence guide to learn the basics, who such programs are for and how to get involved.
For starters, though, many countries offer residence-by-investment programs that reward investors with residence permits in return for their contributions to the country’s economy.
Spain is one of many countries that welcome foreign investment in return for Spanish citizenship (for now). They, like many other countries, call the visa you get through this program a golden visa.
These programs have a predetermined investment type and amount that will qualify you for the right to live and work in , unlike its short-term tourist or student visas.
How? Well, your options range from capital investment in some financial asset (bonds, stocks or bank deposits), investment in real estate or setting up a company.
Once you complete the required investment, you will need to maintain it for as long as you wish to hold your resident status.
Usually, your spouse and children can also become residents of the country. These programs allow your entire family the benefit of living in a country that offers a higher standard of living and a Plan B if things were to go wrong in your home country.
Why Choose a Golden Visa in Spain?
So, how can you decide if the Spanish golden visa program is what you’re looking for?
Obviously, Spain needs little introduction – its culture, traditions, language and customs have long been appreciated globally.
Digital nomads and retirees have been coming to live in Spain for decades, but what if you’re a high-net-worth individual looking to invest?
Spain is the world’s 15th-biggest economy and a long-standing member of the EU, Schengen, Eurozone and NATO.
It’s an economically stable country that is, by and large, politically stable despite regional variations, cultures and languages, and the odd difference of opinion.
Spain is also the 12th largest recipient of foreign direct investment, which further proves that investors have long turned to the country for opportunities.
Three-quarters of Spain’s economy is service-based, thanks largely to its highly educated workforce and reasonable costs.
Spain boasts nearly 50 million consumers and attracts around 80 million tourists who contribute generously to the country’s economy each year.
If you want to set up a business, you could use Spain as a base serving third-country markets, with excellent links to Europe, North Africa and Latin America.
Like the golden visa program in Spain, some of Europe’s other golden visa programs are closing, options are narrowing and costs are rising, so if you’re looking to obtain EU residency, the time to act is now.
Become a client to discuss your residency, citizenship and investment options today – because chances are you’ll have fewer options tomorrow.
Programa Golden Visa en España
The government launched the Spanish residency-by-investment program, known as the Spain Golden Visa program, back in 2013 after a long and arduous journey of digging itself out of the hole left by the economic crisis of 2008.
And even though it now finds itself in a much better economic situation, Spain – for the immediate moment at least – still offers residency to foreign investors to keep the momentum going.
Spain is mostly interested in creating jobs and attracting investment, as it still suffers from a relatively high unemployment rate in the low double digits.
Spain has managed to get one-third of its golden visa applicants to invest in something other than real estate, including business formation, which is a feat not replicated by other golden visa programs.
However, the country will gladly take your capital sums and real estate investments.
The process of applying for and obtaining Spanish residency is straightforward and takes about three months to complete.
The investor then gets the right to roam freely in the entire Schengen Area – including 29 EU member states. Until the residence card is issued, however, you must renew your tourist visa or student visa if you are physically in the country.
Spain used to require that you spend 183 days in the country to retain your visa, which automatically made you a tax resident. However, it has since changed that policy to only require one short visit per year, which certainly boosted the program and its popularity.
Also, Spain changed its golden visa program to allow families to join the main applicant, which gave it another boost.
Alternative Golden Visa Countries
While the Spanish residency-by-investment program was the perfect option for some, its discontinuation means that many eager applicants will need to look for other options to the Spain golden visa.
Luckily for you, there are plenty of other golden visa programs that you can take advantage of. Here are a select few:
- Greece: Currently, Greece’s Golden Visa scheme requires a minimum investment of €250,000 or €500,000 in real estate, depending on the region where the property is located. However, in February 2024, the government announced plans to increase the minimum amount of investment required for foreign property buyers to be eligible for a golden visa to €800,000 in those in-demand areas. Learn more about Greece’s Golden Visa program.
- Latvia: This Eastern European country isn’t on many people’s radars, which is why you can find some great deals on properties. Invest €250,000 (+ 5% State fees) to become a resident of Latvia and make the entire European Schengen area your travel playground. Learn more about Latvia’s Golden Visa program.
- Portugal: Europe’s most popular golden visa program is also its most endangered. Its closure was announced shortly after Ireland closed its program in February 2022. Since then, Portugal has announced a revamped version of its golden visa, removing the highly sought-after real estate investment option.
So, if you are interested in obtaining an EU golden visa, we urge you to begin preparing now and get started with our action plan service.

How to Become a Spanish Resident by Investment
Inversión inmobiliaria
Invertir en varias propiedades por una inversión total de 500.000 euros o más.
Emprender un negocio
Crear una empresa en España que genere puestos de trabajo locales en los sectores científico y tecnológico.
Invertir en activos financieros
Invest €1–2 million in financial assets such as stocks, bonds, investment funds, etc.
Golden Visa Spain Investment Options
If Spain’s on your radar, it’s essential to understand what qualifies as a ‘significant investment’ that enables you to apply for Spanish residency by investment.
Essentially, there are three investment options for foreigners looking to obtain residence in Spain via the golden visa program. Whichever of the three you choose, you will need to hold it for a minimum period of three years.
Puedes invertir como particular o como empresa, algo inédito en el mundo de la inversión en inmigración. Siempre que tu empresa no esté situada en un paraíso fiscal y tengas una participación mayoritaria en ella, puedes invertir como persona jurídica.
OPCIÓN 1: INVERSIÓN INMOBILIARIA
Have you always dreamed of enjoying the Mediterranean climate, perhaps from the luxury of your own seaside villa?
Then investing in real estate to obtain your Spanish residency could be the perfect option for you. Many investors love to give their family access to a residential home in Spain, as well as access to Europe.
If you want to go down this route, the minimum required amount is €500,000, which makes it the cheapest available option.
You need to purchase real estate no more than 90 days before submitting your visa application. You cannot request Spanish residency retrospectively.
So, what qualifies as an acceptable investment? Luckily, Spain is quite flexible. You can buy land, plots, buildings, houses, commercial properties, parking lots and so on – as long as the value is €500,000 or more.
You can also mix and match residential and commercial property as long as the combined value meets the required minimum.
Various residency visa applicants can pool their resources to buy one property. For instance, you and a friend can pool your funds to purchase a €1 million villa.
Another interesting thing is that the amount exceeding the minimum investment of €500,000 can be mortgaged out. So, as long as you have half a million of your own funds, you can get a mortgage for the balance and still become a resident of Spain.
You can rent the property, or properties, as you wish, though don’t forget you’ll be liable to pay rental income tax:
- For EEA non-residents in Spain – a flat rate of 19% is applied to your rental income
- If you are not an EEA citizen, you’re liable for tax at a flat rate of 24% on your rental income.
Other taxes associated with real estate include VAT on the purchase of new properties, a transfer tax (ITP) on resale properties, capital gains tax (19-28%) on the sale of a property and property taxes.
Option 2: Start a Business
The option to start a business in Spain is somewhat unique because it has no minimum investment amount.
If you have a brilliant business idea that you think could work in Spain, you could be granted Spanish residency without needing to make a set monetary investment upfront.
However, it has to meet at least one of these conditions by:
- Creating jobs for local people
- Having a regional socio-economic impact
- Significantly contributing to scientific or technological innovation.
If you are permitted to start a company in Spain and conduct business there, the cost to set up a Spanish company and obtain residency isn’t outrageous; expect to pay €5,000 to €10,000 or so for full service, depending on various factors.
Spain isn’t known as a tax haven. In fact, it’s a high-tax country, but there are a few incentives to encourage people to start companies here.
New Spanish companies enjoy a tax rate of only 15% for the first two years in business, which is one of the main driving forces behind Barcelona’s vibrant start-up scene.
Beyond that, the corporate tax rate is 25%, with various caveats, depending on the type of company that is taxed and its type of business.
In general, even with this start-up tax incentive, companies are still subject to audits and other tax requirements that you won’t find in more business-friendly jurisdictions.
The real tax hit is on your salary as a company director – the personal income tax rate for salaries between €60,000 to €300,000 in Spain is 45%, a number that goes up to 47% if you earn anything over €300,000.
OPCIÓN 3: INVERTIR EN ACTIVOS FINANCIEROS
Tal vez la opción más sencilla sea invertir en un activo financiero, pero esto conlleva un precio más elevado. Dicho esto, el gobierno español ofrece muchas opciones:
- Invest €2,000,000 in government bonds
- Purchase €1,000,000 worth of stocks or shares in Spanish companies
- Comprometer 1.000.000 de euros en fondos de inversión o fondos de capital riesgo en España
- Make a €1,000,000 deposit in a Spanish bank account.
La inversión de capital deberá realizarse como muy pronto 60 días antes de la presentación de la solicitud.
How to Apply for the Spanish Golden Visa: Step-by-Step Guide
Para aprovechar todo lo que España puede ofrecer y no malgastar ni tiempo ni dinero, comprueba primero si reúnes los requisitos para presentar la solicitud. Debes:
- No ser ciudadano de la UE
- Ser mayor de 18 años
- Have a clean criminal record
- Tener un seguro médico privado
- Demostrar que tienes fondos suficientes para subsistir (y mantener a tu familia)
- No tener denegado un visado Schengen antes
- Not be on the list of ‘undesirable people’.
Once you determine that you are eligible, these are the steps that you should take to apply for the golden visa in Spain.
1. Make the Investment
First, decide on which investment type makes the most financial sense.
If you wish to invest in real estate, you can do so by visiting Spain or by giving a lawyer the power of attorney to do it for you.
For capital investments, you will simply have to transfer the required funds to the right place.
2. SOLICITAR LA RESIDENCIA EN ESPAÑA
If you’re outside Spain at the time of lodging your application, you will need to find your nearest Spanish consulate or Spanish embassy and apply there.
You can also apply from Spain if you are there on a tourist visa or if you have a passport which allows you to visit Spain visa-free for 90 days.
There is a fair amount of paperwork, which must all be notarised and translated, so you should hire a professional to help you navigate it unless you want to be chained to a desk for a while.
From medical insurance and medical certificate papers, a clean criminal record, a number of contracts and more, the Nomad Capitalist team can help.
There’s a government application fee of around €80 per application.
You can expect to hear back from the Spanish Consulate or Spanish embassy about your visa approval within 20 business days. However, you may have to wait longer due to the backlog of applications.
Note that if you invested through a legal entity, the processing time may be longer – in the three-to-six-month range.
3. OBTENER LA RESIDENCIA ESPAÑOLA
Once you’ve been approved by the consulate, you will be issued a one-year visa. Within the year, you will need to travel to Spain and apply for your Spanish residency in person.
This involves attending a biometric session at a police station to take your fingerprints and complete more paperwork. Within a month, you will be able to collect your Spanish residency card, which will be valid for two years.
4. Get A NIE Number and Open a Bank Account
You are advised to have a tax identification number (NIE) and a local bank account to help conduct your affairs in the country.
In fact, you won’t be able to buy real estate without the NIE, so you must fill out a quick application to obtain it.
Whereas the bank account is optional, it will help speed up legal issues and financial transactions and such.
5. RENOVAR LA RESIDENCIA ESPAÑOLA
To retain your Spanish residence, you will need to visit the country at least once a year and renew the permit every two years. This will not be a problem if you remain in good financial standing and physical health and retain your investment in the country.
6. Get Permanent Residency in Spain
Permanent residence in Spain is only an option for investors who have physically resided in Spain for the five preceding years.
So, if you obtain your Spanish residency by investment and decide to live and pay taxes in Spain, you could eventually become a permanent resident.
You won’t need to go through the residence renewal process once you get your permanent Spanish residency, and you will also have the option of disbanding your investments.
Finally, being a permanent resident is also a prerequisite for applying for Spanish citizenship further down the line.
7. Applying to Become a Spanish Citizen
Becoming a Spanish citizen is the best way to access visa-free travel. The Spanish passport is ranked 38th in the world, giving its holders visa-free access to 177 countries.
It also gives you the right to live and work in any of the European Union countries.
There are not many better passports that you can obtain by investment. However, it will take ten years of living in the country to be able to apply and once you apply, it can take up to four years to get approved. Unfortunately, Spain is a country well-known for its bureaucracy.
There is a fast-track citizenship option that will grant you a Spanish passport in just two years. However, this option is only available to non-EU citizens who are also citizens of former Spanish colonies.
Once you’ve decided this is right for you, it’s time to start the application process. To apply to get Spanish nationality, you must:
- Tener residencia permanente en España cinco años antes de la solicitud
- Hablar español con fluidez
- Be knowledgeable about the life, culture and traditions of Spain
- Tener buena conducta y carecer de antecedentes penales
- Be tax compliant.
If you are not from one of the former Spanish colonies, you must also be willing to renounce all other citizenships to become a naturalised Spaniard because the country does not recognise dual citizenship.

The Benefits of Spain’s Golden Visa
The Spain Golden Visa program has multiple benefits for investors. Some of the most significant benefits are:
Europe becomes your playground: You can enjoy visa-free travel to all 27 Schengen countries. While you won’t be able to legally reside or work there, permission to travel to these countries is a big advantage.
Fast processing. The Spain Golden Visa program processes your application in 20 business days, making it one of the fastest. From start to finish, it will take you as little as three months to make the investment and get residence.
Residency in Spain for your entire family: All of your dependent children and relatives can be added to the same application and obtain Spanish residency.
No residence requirement: You don’t need to live in Spain to obtain or retain your residency card. Simply visit the country once a year and submit the paperwork needed to renew your golden visa residence permit in Spain and that’s it.
Easy renewals: The initial Spanish residence permits are issued for a year. You will have to go through two renewals, which are easy and can be done from outside of the country.
Straightforward process: There are no language or history tests and no interviews.
Invest as a company: Spain’s golden visa program is one of the few that will let you use your business entity to make your investment. However, your company must not be located in a tax haven and you must have a controlling stake in it.
The Spanish passport is powerful: You might not want to obtain a Spanish passport, but if you do, it’s the 38th most powerful passport in the world for travel. This could open up countless doors to you and your family.
A high-quality lifestyle: Spain is known worldwide for its culture, food, climate and relaxed lifestyle, and it’s affordable too.
Special tax regime: Under the Beckham Law, which applies to income generated in Spain for six years, residents can pay a flat rate of 24% on earnings up to €600,000 and potentially lower capital gains and wealth tax.
The Cons of Spain’s Golden Visa
Spain taxes your global income. If you spend six months or more per year in Spain, you will become a tax resident of the country. The bad news is that Spain taxes your worldwide income unless the income comes from a country with an agreement to avoid international double taxation.
No dual citizenship. If you decide to go for Spanish citizenship, you will be disappointed to find out that it doesn’t recognise dual citizenship for most countries. So, in ten years’ time, you’ll need to renounce your first citizenship or others if you want to become a holder of a Spanish passport.
A ten-year wait for citizenship. If becoming an EU citizen is your goal, you will have to stay put in Spain for ten years before you become eligible to apply. Compare that to five years in the neighbouring Golden Visa country of Portugal, and it’s hard to see why Spain would play it so hard to get.
Spain Golden Visa – FAQs
The cost of the golden visa in Spain depends on the type of investment you choose. You will need to invest at least €500,000 in Spanish real estate, but the minimum sum is €1 million to buy company shares and €2 million if you invest in Spanish Treasury bonds.
To apply for the Spain golden visa program, you must be an adult, non-EEA citizen with good health and a clean criminal record and be able to prove you have sufficient funds to sustain yourself.
The residence permit lasts for one year. After that, you must apply to renew it every two years. There is no limit on how many times you can renew your visa as long as you maintain your investment and remain in good personal and financial standing.
After five years of temporary residence, you can apply to become a permanent resident. There is also the possibility of obtaining Spanish citizenship within a 10-year timeframe.
Yes, a golden visa residence in Spain gives you the right to live and work in the country.
If you don’t physically reside in Spain, you won’t be required to pay taxes in the country. However, if you spend 183 days or more in Spain per year and become a tax resident, your worldwide income will be taxed. Of course, there are tax treaties to avoid double taxation.
In most cases, no. Unless you are from a former Spanish colony, you will be required to give up any other citizenship to become a Spanish citizen.
Spain has announced plans to abolish the golden visa program, particularly for those investing in real estate. This decision is part of a broader move by some golden visa countries to phase out such programs.
Although these changes have not yet been finalised or come into effect, the program is slated to end in January 2025, meaning that there is still time to get your hands on this Spanish golden visa.
Common investment options for Golden Visa Europe include:
Purchasing real estate
Investing in government bonds
Creating jobs through business investments
Making substantial donations to cultural or national development funds.
To apply for a golden visa in Spain, an applicant must begin by making the required investment and gathering all necessary documentation. Then, submit an application at the nearest Spanish consulate.
Required documents include a valid passport, proof of investment, health insurance, a clean criminal record certificate and proof of financial self-sufficiency, among others.
Is the Golden Visa in Spain Right for You?
World-class beaches and mouth-watering food are just a few things that set Spain apart from other countries offering golden visas. It also offers some of the highest standards of living and a solid investment environment for non-EEA nationals.
If you want to make Spain your second home and purchase a property, you can do that. But you can also invest in stocks, bonds or even set up a company. And the process is quick through the soon-ending Spanish golden visa program.
If you are considering obtaining permanent residence or citizenship in Spain, it’s important to be aware of the tax implications. However, by taking a holistic approach to managing your wealth, these implications can be dealt with effectively.
Where do you live? What are your goals? Where is your citizenship? These are just some of the questions to answer before you decide to apply for Spanish residency by investment.
We can help you navigate through all this quickly and efficiently so that you can go where you’re treated best.
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