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The End of the Spanish Golden Visa

The Housing Minister, Isabel Rodriguez announced on April 9 the end of the Golden Visa. Launched in 2013, the country has granted 14,576 "golden visas" corresponding to so-called investments in real estate, benefiting mainly foreign citizens from China, Russia, the U.K., U.S., Ukraine, Iran, Venezuela and Mexico. However this has led toinflation in property prices, therefore this scheme is now being phased out.


What is a Golden Visa?

In Spain, a Golden Visa is a permanent residency visa that is issued to persons who invest in the country.

The most common method for obtaining a golden visa is through the purchase of real estate with a minimum value which, in Spain is set at € 500,000.

Freedom of movement, tax advantages and access to the EU single market, the legal system and social services are some of the main incentives for EU member states’ programs.

Once granted, the investor is valid to work and reside throughout the national territory and so are his or her family members if they meet the age requirements stipulated by labour regulations.


What are the requirements to be able to get a Golden Visa?

The person requesting the Golden Visa must prove his or her ability/willingness to:

Invest in financial assets:

  • Public Debt (€2 million).
  • Shares or shareholdings of companies with Spanish capital (€1 million).
  • Investment funds, closed-end investment funds or venture capital funds set up in Spain (€1 million).
  • Bank deposits in Spanish financial institutions (€1 million)

Invest in real estate (€500,000) or

Invest in a business project in Spain

There is no minimum amount required for this type of investment but its impact on the economy is assessed according to its potential for:

  • Creation of jobs.
  • Socioeconomic impact in the geographical area where it will be developed.
  • Relevant contribution to scientific and / or technological innovation.


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