More and more investors are wondering what is the Golden Visa in Spain. Though recently, 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, there are still many paths to explore to obtain thiw residence and work permit.
Therefore, from Golden Partners we remind you that there are still many months ahead for this limitation to be implemented and that there are other investment possibilities to obtain the Golden Visa in Spain this 2024.
In this article we explain to you what is the Golden Visa in Spain, the requirements to obtain this both residence and work permit and how many Golden Visa have been granted so far. Keep updated with Golden Partners to know the latest news about Spanish Golden Visa!
What is the Golden Visa in Spain
The Golden Visa in Spain is a residence and work permit for an initial period of two years, without requiring permanence in Spanish territory to obtain it.
What is more, obtaining the Golden Visa in Spain in 2024 gives 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 the tax residence in Spain.
Requirements of the Golden Visa in Spain
Having understood what the Golden Visa in Spain is, it is necessary to know its requirements. If you are an entrepreneur or an investor interested in Real estate in Spain, there are many possibilities open to you. Therefore, interested parties must make a capital investment in Spain and meet the requirements listed below:
1. Investment of at least half a million Euros for Real estate properties
The foreign investor 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 in which to invest even if this possibility were eliminated.
2. Investment of at least one million Euros 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 of at least one million Euros 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 of at least one million Euros for bank deposits
The investor can even use one million Euros in bank deposits in financial institutions located in Spanish territory so to obtain the Golden Visa.
5. Investment of at least two million Euros 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 that only in the last auctions has it achieved a profitability, i.e., of 3.45% over ten years.
How many Golden Visas have been granted in Spain so far
According to the Ministry of Housing and Urban Agenda, until last, 14,576 Golden Visa have been granted in Spain. Almost 15,000 people from all around the world obtained the Golden Visa in Spain till 2023 and the main nationalities that have accessed 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.
Therefore, 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.
If you are thinking of making an investment in Spain and at the moment do not want to move your residence outside your country of origin, at Golden Partners we can help you with all the procedures. We are specialists in Spanish Real Estate and immigration, so our team can 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.
