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Spain’s Golden Visa program offered a pathway to Spanish residency through investment, mainly in real estate, for non-EU nationals. While the scheme provided benefits like free Schengen travel and a fast-track to residency for the investor’s family, it was officially abolished in April 2025. On this page, you’ll find clear information about how the program worked, its requirements and benefits, key statistics, and what alternatives are now available. Whether you are considering a move, seeking citizenship options, or comparing programs in Spain, Portugal, or Greece, our insights will help you make informed decisions.

Key features of the Spain Golden Visa program

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    Investment routes

    Before its closure, the Spanish Golden Visa could be obtained via several types of investments:

    • Real estate: Minimum investment of €500,000 in residential or commercial property.
    • Financial assets:
      • €1,000,000 in shares or bank deposits in Spanish institutions
      • €2,000,000 in Spanish government bonds
    • Business projects: Investment with demonstrable potential for job creation, socio-economic impact, or innovation (no fixed investment threshold, but subject to strict review).
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    Eligible applicants

    The program was open to non-EU nationals. Applicants could include family members:

    • Spouse or registered partner
    • Dependent children (of any age, if in education)
    • Dependent parents
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    Path to residency and citizenship

    • Initial residence permit: 3 years, renewable for 5 years if investment is maintained.
    • Permanent residency: Obtainable after 5 years of continuous legal residence.
    • Citizenship: Generally after 10 years of residence. Citizens from certain countries (e.g., Latin America, Philippines, Portugal) could apply after 2 years.
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    Living, studying and working

    The permit allowed holders to live, work, and study throughout Spain. Family members enjoyed the same rights regarding healthcare and education.

Application process: step by step

Step 01

Choose investment type

Select and complete qualifying investment.

Step 02

Prepare documentation

Proof of investment, financial records, background checks, health insurance, proof of sufficient income (400% of Spain’s IPREM, plus 100% per additional family member).

Step 03

Apply for national visa

Submit your application at a Spanish consulate or embassy in your home country.

Step 04

Arrival in Spain

Upon approval, receive a one-year residence visa, then apply for a multi-year residence permit.

Step 05

Renewal

Ensure investment is maintained; continue to meet legal and financial requirements.

Step 06

Apply for permanent residency or citizenship

After meeting the necessary period of continuous residence.

  • Step 01

    Choose investment type

    Select and complete qualifying investment.

  • Step 02

    Prepare documentation

    Proof of investment, financial records, background checks, health insurance, proof of sufficient income (400% of Spain’s IPREM, plus 100% per additional family member).

  • Step 03

    Apply for national visa

    Submit your application at a Spanish consulate or embassy in your home country.

  • Step 04

    Arrival in Spain

    Upon approval, receive a one-year residence visa, then apply for a multi-year residence permit.

  • Step 05

    Renewal

    Ensure investment is maintained; continue to meet legal and financial requirements.

  • Step 06

    Apply for permanent residency or citizenship

    After meeting the necessary period of continuous residence.

Frequently asked questions

Still have a questions?

Can't find the answer to your question? Send us an email and we'll get back to you as soon as possible!
Can I still apply for a Spain Golden Visa?

No. Spain’s Golden Visa is no longer available. Only applications submitted and in process before April 3, 2025, are being considered. New applications are not accepted.

Is there an alternative Spanish visa for investors or retirees?

Spain offers a Non-Lucrative Visa (for those with sufficient passive income), a Digital Nomad Visa for remote workers, and standard work or student visas. Note: The Non-Lucrative Visa requires over 183 days of presence annually, making you a Spanish tax resident.

How do taxes work for residents on investment-based permits?

Taxation depends on how many days you spend in Spain. Over 183 days makes you a tax resident (liable for global income); under that, you pay Spanish tax only on Spain-sourced earnings.

Can golden visa holders bring their families?

Yes, immediate family members could be included under the original program. This included spouse/partner, dependent children, and dependent parents.

What happens if I already have a Spanish Golden Visa?

Holders of existing valid Golden Visas can maintain their status and renew as long as they continue to meet investment and residency requirements.

  • Requirement Detail Investment Threshold Notes
    Real estate purchase One or several properties, unencumbered €500,000+ Most common. No loans for the minimum sum. Additional value can be mortgaged.
    Public debt securities Spanish government bonds €2,000,000+ Less popular due to higher threshold.
    Company shares Shares in Spanish companies with real business activity €1,000,000+ Includes direct shares or units in investment funds/venture capital funds.
    Bank deposit Spanish financial institution €1,000,000+ Proof required that the deposit is in the applicant’s name.
    Business investment Business projects of “general interest” (job creation, local impact, innovation, etc.) No fixed minimum Requires official assessment and report from economic office.
    Family eligibility Spouse/partner, dependent children (incl. adults if dependent students), dependent parents N/A All can be included in application.
    No criminal record Certificate from past 5 years’ countries of residence N/A Must be legalized/apostilled and translated to Spanish.
    Sufficient financial means 400% IPREM for main applicant; 100% per dependent ~€2,400/mo +€600/person Based on Spain’s IPREM (approx. €600/month in 2024).
    Health insurance Full private cover in Spain N/A Policy must cover all applicants; no gaps in coverage allowed.
  • Event/Change Date Details
    Law passed (Entrepreneurship Law 14/2013) Sept 2013 Created Golden Visa program for significant investors
    Real estate Golden Visa started 2014 Non-EU nationals could apply via property investment
    Record year in property purchases 2023 87,000+ properties bought by foreigners (15% of all deals), spike in US/UK applicants
    Last Golden Visa applications accepted April 3, 2025 All new investor visa applications (real estate route) stopped
    Golden Visa program officially abolished April 4, 2025 Legislative ratification: 179 votes “for”, 169 “against”
    Brief consideration to raise minimum 2023 Plan to raise threshold to €1 million was dropped in favor of full program abolishment
  • Option Minimum Investment Main Requirements Summary
    Real Estate €500,000 Unencumbered property Most popular, fast application
    Spanish Public Debt €2,000,000 Bonds for at least 5 years Direct to public treasury
    Company Shares/Funds €1,000,000 Shares in active Spanish firms or funds Marketable and non-marketable allowed
    Bank Deposit €1,000,000 Deposit in Spanish banks Proof of sole ownership needed
    Business Projects No set minimum Must create jobs/impact, official report Case-by-case government approval
  • Phase Duration Notes
    Initial visa in home country Up to 30 days Entry visa granted for 1 year
    Residence permit in Spain Up to 20 days Renewable for 2-5 years while investment is maintained
    Permanent residency eligibility 5 years Continuous residence (at least 6 months/year) typically required
    Citizenship eligibility (most) 10 years Faster (2 years) for Ibero-American, Filipino, Equatoguinean, Sephardic Jews
  • City/Region Share of Golden Visas Notes
    Barcelona ~40% Main target for property investment
    Madrid Major share Strong real estate market
    Malaga Major share Popular with international retirees
    Balearic Islands Major share High-demand, lifestyle-oriented region
    Alicante, Valencia Major share High foreign property purchases
    Nationwide (all cities) 90% 90% of visas granted in these major hubs
  • Year Golden Visas Granted (Real Estate) Total Applications Average Investment (2024) Major Nationalities
    2013-2023 14,576 ~15,300 China, Russia, UK, US, Ukraine, Iran, Venezuela, Mexico
    2022 2,017
    2023 3,273
    2024 Jan-Oct 780 €657,204
    Total Family Members ~35,000
    Approval via property investment 94%
  • Tax Type Non-resident Investor Resident Investor (stay >183 days/year) Rate / Details
    Personal Income Tax Only Spanish-source Worldwide income taxable in Spain 19%-47% (residents); 24% (non-residents)
    Capital Gains Tax Relevant if selling Taxable on worldwide gains 19% to 28% depending on profit amount
    Income (employment, business) Only Spanish-earned All income 24% (non-residents)
    Interest Income Only on Spanish-source Taxed as savings income 19%-28% progressive brackets
    Property Tax (IBI) All Spanish property All Spanish property 0.4% to 1.3% annually, by region/municipality
    Property Transfer Tax On purchase On purchase 6% to 10% (by region)
    Wealth Tax On Spanish assets On worldwide assets Progressive; varies by region
  • Cost Amount / Rate Notes
    Minimum property investment €500,000 Unencumbered value
    Property transfer tax 6%–10% Depends on region
    Legal fees 1%–2% of property price Can vary
    Notary fees 0.1%–0.5% of property price
    Land registry fees ~0.1%–0.25%
    Golden Visa application fee €60–€80 per person Consular fees may differ
    Health insurance ~€500–€2,000/year per person Depends on age, provider, plan
    Annual property tax (IBI) 0.4%–1.3% of property value Paid yearly to local council
    Renewal fee (residence permit) ~€20–€100 per person Every 2–5 years
  • Feature Spain* Portugal (as of mid-2025) Greece Latvia
    Status Ended April 2025 Active (new rules pending) Active (threshold increased) Active
    Main Route Real estate Funds, business, job, R&D Real estate Real estate, bank, company, govt. bonds
    Minimum Investment €500,000 (property route) €250,000+ €250,000–€500,000 €250,000 (property), €280,000 (bank), €50,000 (company)
    Processing Time <1 month (pre-abolition) 3–6 months 2–6 months 1–2 months
    Family Members Included Yes Yes Yes Yes
    Permanent Residence 5 years 5 years Immediate 5 years
    Citizenship 10 years (standard) 5*–10 years (new draft: 10) 7 years 10 years
    Minimum Stay Requirement None (PR/citizenship requires) Low (7 days/yr before PR) None for PR None
    Main Advantage Schengen, leading EU economy Schengen, flexible funds option Schengen, low threshold, quick Schengen, accessible options
    Main Limitation Ended, real estate only Legislative changes ongoing Price increases in popular areas Non-EU market focus
    Tax Residency (trigger) 183+ days/year 183+ days/year 183+ days/year 183+ days/year

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