Spain’s Golden Visa program was abolished on 3 April 2025 by Organic Law 1/2025, which removed every route to residency through investment. Until then it allowed foreign investors to obtain a residence permit by making significant investments in Spanish assets, primarily real estate. Its former benefits, which existing holders keep, included:
- Visa-free travel within the Schengen Area
- Access to work and study opportunities in Spain
- A pathway to permanent residency and citizenship
In this article, we will delve into the Spain golden visa requirements and provide a comprehensive golden visa Spain step-by-step guide. We explain how the program worked and what investors can do now that it has closed, so readers understand the former Spain Golden Visa rules and the benefits of obtaining a Spanish residency by investment. Additionally, we will touch upon important aspects such as the wealth tax in Spain, which is crucial for prospective investors.
Understanding the Spain Golden Visa Program
Spain’s Golden Visa program was an investment visa for non-EU nationals seeking residency in Spain. It allowed individuals and their families to obtain residency by making a significant financial investment in the country until Organic Law 1/2025 abolished it on 3 April 2025. Its main advantages were:
- Residency Rights: Holders can live and work in Spain.
- Schengen Area Access: Visa-free travel throughout the Schengen Zone.
- Family Inclusion: Immediate family members can be included in the application.
Important update: this program no longer exists. As anticipated in our coverage of the end of the Spain Golden Visa, it was abolished with effect from 3 April 2025. Only applications filed before that date are decided under the old rules, and existing permits remain valid and renewable.
Targeted specifically at non-EU nationals, this program invited individuals from outside Europe to invest in Spain’s economy. Investors who want a European residence in Spain now need another route, such as the entrepreneur permit.
Eligibility Criteria for the Golden Visa
Before its abolition, applicants for Spain’s Golden Visa had to meet specific requirements. The key criteria were:
- Age Requirement: Applicants must be at least 18 years old. This ensures that only adults can apply and take responsibility for the investment made.
- Clean Criminal Record: A clean criminal record is essential. Applicants must provide a certificate from their home country to confirm their lack of criminal history. This document underscores the importance of safety and security in Spain.
- Health Insurance Requirements: Valid medical insurance is mandatory. Applicants need to demonstrate that they have either private or public health insurance coverage to protect against unforeseen medical expenses during their stay in Spain.
- Proof of Sufficient Financial Resources: It is crucial to show adequate financial means to support oneself and any dependents without the need to work in Spain. This requirement emphasizes the self-sufficiency expected from Golden Visa holders.
These eligibility criteria are designed to promote responsible investment while ensuring that applicants can contribute positively to Spanish society. Each requirement plays a vital role in maintaining the integrity and effectiveness of the Golden Visa program.
Investment Options Available for the Spanish Golden Visa
Until 3 April 2025, Spain offered the following investment options for the Golden Visa. All of them were abolished by Organic Law 1/2025 and can no longer be used to obtain residency:
- Spanish Government Bonds: Investing at least €2 million in government bonds was another route until 3 April 2025. It no longer exists.
- Shares or Stocks: An investment of €1 million in shares or stocks of Spanish companies qualified applicants until 3 April 2025. It no longer exists.
- Business Development Investments: Investments that contribute to job creation or socio-economic development are highly regarded. The requirement emphasizes the importance of fostering local employment and innovation.
None of these routes is available today. Investors who want to move to Spain should consider the entrepreneur, non-lucrative, highly qualified professional or digital nomad routes instead.
Required Documents for Application Process
For reference only, these were the documents required for the Golden Visa before its abolition on 3 April 2025. New applications are no longer accepted:
- Valid Passport: Ensure your passport has at least one year of validity.
- Proof of Investment: This can include property purchase documents, bank statements for government bonds, or share certificates.
- Medical Insurance Documentation: A valid private or public health insurance policy covering you and any dependents during your stay in Spain is essential.
- Clean Criminal Record Certificate: Obtain a certificate from your home country indicating no criminal history. If applicable, ensure it is translated into Spanish.
Each document serves a specific purpose in supporting your application, emphasizing the importance of being thorough and precise. Incomplete or incorrect documentation may lead to delays or denial of your Golden Visa application. Each piece contributes to demonstrating your eligibility and commitment to residing in Spain.
Since the program is closed, investors should instead prepare documentation for an alternative route, such as the entrepreneur, non-lucrative or highly qualified professional permits.
How the Former Golden Visa Application Worked
Navigating the Golden Visa process used to involve the steps below. They are kept for reference only: no new applications have been possible since 3 April 2025.
1. Choose Your Investment Option
The former investment routes, all abolished on 3 April 2025, were:
- €2 million in Spanish government bonds.
- €1 million in shares or stocks of Spanish companies.
- Business development investments creating jobs.
2. Prepare Required Documentation
Gather essential documents:
- Valid passport (minimum one year of validity).
- Proof of your chosen investment.
- Medical insurance documentation.
- Clean criminal record certificate.
3. Submit Your Application
Applications used to be filed at a Spanish consulate as a national long-stay (type D) visa, not a Schengen visa. This visa no longer exists, so no application can be filed.
Since 3 April 2025 no investor residence permit can be requested, either from Spain or from abroad
4. Provide Biometric Data
After submission, you will need to provide biometric data in Spain within two months.
5. Await Approval
Processing time typically takes around 20 days if applied from Spain. During this period, ensure you remain available for any additional requests from the authorities.
Since this route is closed, investors should look at the entrepreneur, non-lucrative, highly qualified professional or digital nomad routes instead.
Duration, Renewal Process and Pathway to Permanent Residency or Citizenship through the Spanish Golden Visa Program
The Spanish Golden Visa offered an initial validity period of one year or three years. Permits already granted remain valid, and holders who maintain their investment can renew them under the rules in force when they were first granted.
Renewing Golden Visa
Existing holders could renew for periods of five years, contingent upon maintaining the qualifying investment. This ensures that your status remains valid while residing in Spain.
Pathway to Permanent Residency
After five years of uninterrupted residency under the Golden Visa program, holders can apply for permanent residency. This opportunity allows individuals to live and work in Spain without any limitations.
Spanish Citizenship Application
With ten years of legal residency, applicants become eligible for Spanish citizenship. The requirements include:
- Demonstrating proficiency in the Spanish language.
- Showing integration into Spanish society through cultural knowledge and social ties.
Understanding these timelines and requirements is essential for anyone considering Spain residency by investment. The Golden Visa not only provides a pathway to live in Spain but also opens doors to broader opportunities within Europe.
Conclusion
The Spanish Golden Visa was abolished on 3 April 2025 and is no longer an option for new applicants. Existing holders keep benefits such as:
- Visa-free travel within the Schengen Area
- Access to work and study in Spain
- A pathway to permanent residency and citizenship
It’s essential for potential applicants to grasp the summary of Spain’s Golden Visa requirements and process. For new applicants, the realistic alternatives are the entrepreneur, non-lucrative, highly qualified professional or digital nomad routes.
