What is the update on the Golden Visa in Spain?

What is the update on the Golden Visa in Spain? How can I get the Golden Visa in Spain? What investments can be made to apply for the Spanish Golden Visa? From Gentile Law, expert lawyers in processing visas and residency and experts in applying for the Golden Visa in Spain, we tell you the latest news about the Golden Visa in Spain.

Spain has long been a popular destination for travel, and in recent years has surged as a top location for expats looking to move abroad. In 2022, the “Expat City Rankings” placed two Spanish cities in the top 10, with Valencia being ranked as the best city in the world for expats and Madrid placing closely after at number five.

For those considering making the move to Spain, the “Golden Visa” offers a straightforward way to acquire residency through investment. Created in 2013, over 5,000 residency permits have been granted via this program which poses very few requirements other than a financial investment.

Who can apply for the Spanish Golden Visa?

How can I get the Golden Visa in Spain? Who can apply for the Golden Visa in Spain? All citizens from outside the EU, EEA or Switzerland who have made an investment in Spain can apply for the Spanish Golden Visa.

What investments can be made to apply for the Spanish Golden Visa?

I am an investor and I want to apply for the Golden Visa in Spain, how can I get it? To qualify for the “Golden Visa,” investors have five options:

• Purchase a Spanish property valued at €500,000 or greater.
• Invest €1 million in private funds.
• Deposit €1 million in a Spanish bank account.
• Invest in €1 million worth of shares of a Spanish company. 
• Purchase €2 million of Spanish public debt.

What are the requirements to apply for residency in Spain through the Golden Visa? While the “Golden Visa” has offered a fairly simple route to residency for many, there are talks of the government potentially tightening the requirements. Adversaries of the program are lobbying the government to raise the eligible property investment amount to 1 million euros, from the current €500,000 minimum. Political leaders and the government have held discussions on the matter, but no official change has been decided, for the time being.

Could Spain`s Golden Visa be eliminated or modified?

What happens if the requirements for obtaining the Golden Visa in Spain change? If Spain`s “Golden Visa” requirements were to change, it would not be the first time this year that a European country has tightened regulations on these “investor visas.” In February, the Portuguese Prime Minister announced that the residential version of Portugal`s Golden Visa would be ended; however, the program cannot be terminated until voted on by Parliament, which has yet to occur.

Additionally, the UK abolished their version of the Golden Visa in 2022 which required a minimum investment of 2 million pounds, and was subsequently followed by Ireland who terminated their residency by investment scheme earlier this year.

Despite the termination of “Golden Visas” by some European countries, investors still have the potential to acquire them in several EU member states. The Italian Golden Visa program offers a minimum investment option of 250,000 euros; however, the investment cannot be fulfilled through buying a property.

Eligible investment types include purchasing shares of an Italian company, financing a start-up company, bond purchase, or a philanthropic donation. Greece also continues to offer the Golden Visa, with property based investments eligible.

What are the advantages of obtaining a Golden Visa in Spain?

What are the advantages of obtaining a Golden Visa in Spain? For those interested in an option to acquire residency by investment, Spain`s Golden Visa program offers a simple way to do so, with the eventual possibility of acquiring permanent residency after 5 years. Those in possession of a Spanish Golden Visa enjoy many perks, among which the following stand out:

• Right to reside and work in Spain.
• Travel within the Schengen Area without the need to obtain additional visas.
• Possibility to apply for Spanish nationality by residence.
• No minimum stay in Spain required.
• Fast resolution of the application by the Public Administration (20 business days).

Despite there being speculation about potential future changes to Spain’s Golden Visas, the program has not undergone any official modifications. The current requirements are still in place giving investors a great opportunity to obtain the right to live and work in one of the world’s top destinations for expats.

What is the update on the Golden Visa in Spain? How can I get the Golden Visa in Spain? At Gentile Law, expert lawyers in processing Golden Visa applications, we advise clients seeking to invest in Spain and apply for the Golden Visa and accompany and support them through every step of the process. Interested in learning more about the Golden Visa in Spain? We recommend our article: "The Golden Visa in Spain, one of the best options".

Pablo Lanfranchi

pablolanfranchi@gentile.law

+34 604 51 60 52