Spain - Golden Visa Residency
The Spanish golden visa residency program from 2003 offers people an opportunity to gain residency through investment and other means.
average processing
Investment amount
From EUR 500,000
Visa free countries
Schengen Area
Passing Citizenship to Future Generation
Yes
About Country
About
Spain
Spain boasts vibrant cities, a pleasant climate, and a high quality of life. The Golden Visa program offers residency to investors, and the country is an ideal base for access to the EU. With strong tourism, real estate, and renewable energy sectors, Spain provides a robust environment for investment and lifestyle opportunities.
Capital
Madrid
Total Area
195,365 sq mi
Population
48,446,594
Language
Spanish
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Process
Spain
Citizenship
Residency
Receiving Process
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.
Preliminary Due Diligence
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.
Registration and Notary
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.
Acquiring Investment
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.
Final Application Process
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.
How much do I have to invest to get a Spanish Golden Visa?
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.
Taxation
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 TaxReturn 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.
What are the benefits of Spanish residency through investment?
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).