The elimination of the Golden Visa in Spain, known in Spanish as Visa Dorada or Gold Visa, is not yet a reality. Last April, the Spanish Government announced the elimination of the granting of residence permits in Spain to non-EU foreigners who invest more than EUR 500,000 in housing, one of the requirements in order to obtain the Spanish Golden Visa. From Golden Partners we want to remind you that there are still many months ahead for this limitation to be implemented. Moreover, there are other investment possibilities to obtain the Golden Visa in Spain this 2024.
In this article we explain to you the limitation that the Spanish Government wants to apply and all the options to obtain a work and residence permit in Spain for an initial period of two years, without requiring permanence in Spanish territory to obtain it. In addition, obtaining the Golden Visa in Spain in 2024 would give you the freedom to move around the countries of the Schengen area without having to comply with long periods of stay in our country nor being obliged to prove your tax residence in Spain.
The investment requirements to obtain the Golden Visa in Spain
How can I obtain a gold visa in Spain? Should you be an entrepreneur or should you want to make investments in Spain, you might be eligible to obtain the Spanish Golden Visa before the Spanish Government implements its new limitation. Therefore, interested parties must make a capital investment in Spain and meet the requirements listed below:
1. Investment for a value equal to or greater than EUR 500,000 for Real estate properties
Investors can make a minimum net investment in Spain of EUR 500,000 in properties such as apartments, premises or land, which are intended for both personal residence and rental as well as for generating profitability by other means.
This is the measure that the Spanish Government wants to eliminate from the Golden Visa to stop what, in its opinion, is Real estate speculation. However, there are still many months ahead before its effective elimination is undertaken and many other investment possibilities that we explain hereinafter.
2. Investment for a value equal to or greater than EUR 1,000,000 for commercial activities
As long as the investment is destined for shares linked to real commercial activities or participations in Spanish capital companies, the foreign person who wants to acquire the Golden Visa in Spain must invest at least one million Euros.
3. Investment for a value equal to or greater than EUR 1,000,000 for investment funds
Furthermore, the community or non-community investor (for example, from Peru, Mexico, Colombia, the United States, Russia, etc.) can obtain a residence permit in Spain to invest one million Euros in investment funds, venture capital funds or in closed investment funds.
4. Investment for a value equal to or greater than EUR 1,000,000 for bank deposits
You could also invest the amount of equal value or greater than one million Euros in bank deposits in financial institutions located in Spanish territory.
5. Investment for a value equal to or greater than EUR 2,000,000 for public debt securities
Moreover, Spanish Golden Visa investors will be able to invest at least EUR 2 million in Spanish public debt securities such as Treasury Bills and the well-known and profitable Spanish State Bonds and Obligations which are giving a return of up to 3.702%.
How many Golden Visas have been granted in Spain
According to the Ministry of Housing and Urban Agenda, until 2023, 14,576 Golden Visa have been granted in Spain. The main nationalities that have accessed the Spanish Golden Visa have been China, Russia, the United Kingdom, the United States, Ukraine, Iran, Venezuela or Mexico, among others.
The Law regulating the Golden Visa (which you can consult here) has allowed foreigners to acquire homes in big and well placed cities such as Madrid, Marbella, Barcelona, Alicante, or the Balearic Islands, concentrating up to 90% of the authorizations.
To sum up, despite the information published by the Spanish Government, the Golden Visa in Spain is still valid throughout the national territory, as we at Golden Partners explain both to our clients and in the media. Therefore, we can truly help you if you are thinking of making an investment in Real Estate in the Spanish real estate market, whether in the Valencian Community, the Balearic Islands, Madrid or any other part of the Spanish territory.
As specialists in Spanish Real Estate and immigration, we offer you the necessary legal advice to make the best decision for you and your family, avoiding risks and complying with both Spanish and European legislation.
At Golden Partners, we know how to take care of your assets. We remain at your entire disposal in our contact form. Do not hesitate to write to us in English, French or Spanish.
