Golden Visa in Spain explained

Raymundo Larraín Nesbitt, September, 5. 2024

Raymundo Larrain reviews the Spanish 'golden visa', which can still be obtained despite government plans to abolish it.

Marbella-based Larraín Nesbitt Abogados (LNA) has over 21 years of experience at your service. We offer a wide range of 60 legal and corporate services. Our team of native English-speaking lawyers and economists have a long track record of successfully assisting expats all over Spain.

You can review here our client’s testimonials.

By Raymundo Larraín Nesbitt
Director of Larraín Nesbitt Abogados
8^th of September 2024

What is a Golden Visa?

The Golden Visa is a residence permit granted to non-European nationals on investing in Spain.

This visa allows applicants to live and work in Spain (optional).

It opens the path to permanent residency (after 5 years) and to Spanish nationality (after 10 years).

Benefits of a Golden Visa

It offers multiple advantages which I cover extensively in my article: Golden Visa in Spain: 21 reasons to apply.

Spain’s Golden Visa offers several benefits, namely:

Immediate residency. Allows you - and your family - to live and work in Spain overriding the 90/180-day limitation.
Freedom of movement in the European Union. Allows visa-free travel throughout the Schengen Area (27 countries).
Tax advantage: Unlike every other visa in Spain, the Golden Visa is the only one that does not automatically make you a tax resident in Spain on renewals. This is a unique trait of golden visas that is not shared by any other visa.
Extended family included. Allows the possibility to include the applicants’ parents.
Clear rules. Initially granted for 3 years, then renewable every 5 years.

Requirements to attain a Golden Visa in Spain

There are several paths to qualify for a Golden Visa:

Real estate investment. Invest a minimum of €500,000 in real estate in one, or more, properties (this is hands down the least expensive option).
Bank deposit. Deposit €1mn in a Spanish bank.
Capital investment. Invest €1mn in shares of a Spanish publicly traded company.
Invest in public debt. Invest a minimum of €2mn in Spanish Treasury bonds.
Business project. Develop a business project in Spain that generates employment, has a significant socioeconomic impact, or involves scientific and technological advances.

State of Golden Visas in Spain

Recently, there have been many discussions about the possible elimination of the Golden Visa by the Spanish government. However, to date, the Golden Visa remains active and available to any interested investors.

Golden Visa application procedure

Collate all the required documents
Electronic visa application is submitted to Madrid
Visa is granted in under 3 weeks through us
Attain a biometric residency card

Frequently asked questions

Can I still apply for a Golden Visa? I heard the Spanish government is axing them

Yes, you still can.

The Spanish government announced its plans to eliminate them on the 8^th of April 2024.

However, since then, no concrete date has been given.

All we know at this point is that they intend to eliminate them shortly, but no specific date was supplied.

If I apply for a golden visa now, and the Spanish government phases them out, am I entitled to renewals?

The short answer is yes.

As long as you apply now, before they are phased out, you will have no issues to renew your Golden Visa residence permit.

When will Golden Visas be phased out by the Spanish government?

No specific date was given.

You can reasonably expect them to be eliminated over the next months. Likely, by early 2025.

Can I work in Spain? Can my family work in Spain?

In short, yes.

A Golden Visa is one of the few visas that allows you - and your family - to work in Spain (optional).

Are Golden Visas retroactive?

Indeed, they are.

If you bought a property in Spain, on or after the 29^th of September 2013, you may qualify.

Conclusion

There are several visas you can apply for if you plan to move and live in Spain. We offer a full overview in our article: Moving to Spain? Spanish visa overview.

However, the king of all visas is the Golden Visa. It is by far the most privileged visa one can attain in Spain. Which explains why the government was under political pressure to suppress them.

Our multidisciplinary team at Larrain Nesbitt Abogados (LNA) has attained hundreds of golden visas (and other visas) over the last decade for our non-EU clients.

At LNA we get you a golden visa in under three weeks.

Take advantage of the Golden Visa, apply today!

Your family’s success is only one call away.

LNA has a 100% track record of attaining Spanish residency

Larraín Nesbitt Abogados, small on fees, BIG on service.

At Larrain Nesbitt Abogados (LNA) we have over 21 years of experience specializing in immigration & residency visas. We also assist clients in buying, selling, or renting properties in Spain. You can contact us by e-mail at info@larrainnesbitt.com, by telephone at our UK line (+44) 0754 3838 218 or Spanish line (+34) 952 19 22 88, or by completing our contact form.

Residency services available from LNA:

Golden Visa Service (Investor Visa)
Non-Lucrative Visa (Pensioner’s Visa)
Lucrative Visa (Business Visa)
EU-Family Regroupment (Marriage Visa)
Digital Nomad Visa (Tax-free visa)
Non-Domiciled Tax Scheme (Beckham’s Rule)
Spanish Residency permit for EU nationals

Please note the information provided in this article is of general interest only and is not to be construed or intended as substitute for professional legal advice. This article may be posted freely in websites or other social media so long as the author is duly credited. Plagiarizing, whether in whole or in part, this article without crediting the author will result in criminal prosecution. There is nothing impossible to him who will try. VOV.