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Spain Golden Visa Program Guide
(Program Ended April 2025)
Important Notice
The Spanish Golden Visa Program officially ended on April 4, 2025. This guide provides historical information about the program for reference purposes. For current investment residency options, consider alternatives such as Portugal Golden Visa or Greece Golden Visa programs.
Program Overview (Historical)
The Spain Golden Visa Program, launched in 2013, was an investment-based immigration pathway that allowed non-EU investors to obtain Spanish residency through significant financial investments. The program was designed to attract foreign capital while providing investors with EU residency benefits.
Key Benefits (When Active)
- EU Residency: Full residency rights in Spain for investors and their families
- Schengen Access: Visa-free travel throughout the 26-country Schengen Area
- Pathway to Citizenship: Route to permanent residency after 5 years and citizenship after 10 years
- Family Inclusion: Coverage for spouse, children, and dependent family members
- No Minimum Stay: No required minimum time spent in Spain to maintain visa status
Investment Requirements (Historical)
Real Estate Investment
- Minimum Investment: €500,000 in Spanish real estate
- Property Types: Residential, commercial, land with development potential, or industrial
- Financing Restriction: Investment must be made with own funds (no financing allowed)
- Additional Costs: Property transfer tax (6-10%), legal and notary fees (1-2% of property value)
Alternative Investment Options
- Capital Investment: €1,000,000 in Spanish company shares, investment funds, or bank deposits
- Government Bonds: €2,000,000 minimum investment in Spanish public debt securities
- Business Projects: Investment in projects of public interest (job creation, socio-economic impact, technological innovation)
Additional Requirements
- Clean criminal record from all countries of residence (past 5 years)
- Comprehensive health insurance valid in Spain
- Proof of sufficient financial means for self-support
- Minimum age of 18 years
- Valid passport and properly translated/apostilled documentation
Application Process (Historical)
Documentation Requirements
- Valid passport and passport-sized photographs
- Proof of qualifying investment
- Criminal record certificates (apostilled and translated)
- Health insurance policy covering Spain
- Financial statements proving sufficient funds
- Application forms (EX-01, Form 790 code 052)
Processing Timeline
- Initial Decision: 20 working days from submission
- Residence Permit Issuance: Additional 3 months if applying from within Spain
- Initial Permit Duration: 2 years, renewable for 5-year periods
Renewal and Permanent Residency
- First Renewal: After 1 year (then every 2 years)
- Permanent Residency: Available after 5 years of legal residence
- Citizenship Eligibility: After 10 years of legal residence (subject to language and integration requirements)
Financial Considerations (Historical)
Direct Costs
- Minimum investment: €500,000 (real estate) to €2,000,000 (government bonds)
- Property transfer taxes: 6-10% of property value
- Legal and notary fees: 1-2% of property value
- Application and processing fees
Tax Implications
- Income Tax: Spanish tax residency triggered worldwide income taxation
- Wealth Tax: Regional wealth taxes on total assets (varies by region)
- Property Tax: Annual municipal property taxes
Insurance Requirements
- Private health insurance from Spanish-operating company
- Coverage equivalent to Spanish National Health System
- Valid for minimum one year with renewal capability
- Must cover all family members without copayments
Contact Us Today to Start Your Journey
While the Spain Golden Visa program has ended, excellent European investment programs remain available. Contact Alliance Visas today to learn more about how you can qualify for these alternative programs or fill in our eligibility form below to check your qualification for other available programmes.
We look forward to helping you find your ideal pathway to European residency or citizenship.
FAQs
Why did the Spain Golden Visa program end?
The Spanish government terminated the program on April 4, 2025, due to concerns about its impact on real estate prices and financial transparency. The government conducted a feasibility review that led to the program’s discontinuation as part of broader housing affordability initiatives.
What were the total costs for the Spain Golden Visa?
The minimum total investment was approximately €565,000-€600,000 for real estate (including €500,000 property purchase plus 6-10% transfer taxes and 1-2% legal fees). Alternative investments ranged from €1,000,000 (capital investments) to €2,000,000 (government bonds), plus additional processing fees and insurance costs.
Could investors finance their Golden Visa investment?
No, financing was not permitted. The entire qualifying investment had to be made using the applicant’s own funds. However, some real estate management partners offered guaranteed rental yields on commercial properties, providing similar financial benefits to financing arrangements.
What happened to existing Golden Visa holders after the program ended?
Existing visa holders who obtained their Golden Visa before April 4, 2025, can typically maintain their status and continue with renewals as long as they meet the original program requirements. However, specific transition arrangements should be confirmed with Spanish immigration authorities or legal counsel.
What are the best alternatives to the Spain Golden Visa now?
Top alternatives include the Portugal Golden Visa (minimum €250,000 in qualifying investment funds), Greece Golden Visa (€250,000 minimum real estate investment), and Malta programs (€112,000+ for residency, €600,000+ for citizenship). Each program has different requirements, benefits, and processing times, so professional consultation is recommended to determine the best fit.