What is the Golden Visa, or Golden Residence Permit?
In Spain, the Golden Visa, established by Law 14/2013 to promote the internationalization of entrepreneurship, allowed for obtaining residence in exchange for a significant investment. However, since April 3, 2025, this route has been officially eliminated following the entry into force of Organic Law 1/2025. This measure ends new Golden Visa applications for investment in real estate, stocks, bonds, or projects. Those who obtained it before that date may continue renewing it as long as they meet the requirements.
Pros of the Golden Visa (only applicable to applications before April 2025)
- Ease of obtaining: Possibility to apply from the country of origin or from Spain with legal presence.
- Fast processing: 10 days for the initial visa and 20 days for the residence permit.
- Investment flexibility: It was allowed to present the purchase contract before registering the property.
- Immediate family reunification: Spouse and minor (or dependent) children could apply for the visa simultaneously.
- Freedom of residence: It was not necessary to reside more than 183 days; a visit during the validity of the permit was sufficient.
- Foreign tax residence: Allowed maintaining tax residence outside Spain.
Disadvantages of the Golden Visa
- High investment required: From €500,000 in real estate or higher in financial assets.
- Obligation to maintain the investment: To renew the permit, it was necessary to keep the investment.
- Difficulties in obtaining nationality: If not residing more than 183 days/year, it did not count towards Spanish nationality.
Requirements for registering the Golden Visa (until April 2025)
Until its repeal, applicants had to meet one of the following investment thresholds:
- Government bonds: €2,000,000
- Shares or bank deposits: €1,000,000
- Real estate investment: €500,000 free of charges
Business projects that generated employment, economic impact, or technological innovation were also considered. These routes are also eliminated for new applications since April 2025.
Note: If you started the process before April 3, 2025, you can complete it under the previous regulations. For those seeking current options, we recommend exploring the non-lucrative visa or the entrepreneur visa.
Documentation requirements (valid for renewals)
- No criminal record in Spain or in the countries where you have resided in the last five years.
- Have valid public or private health insurance in Spain.
- Prove sufficient economic means to cover the expenses of the applicant and their family members.
Application process (valid only for cases prior to April 2025)
- D Visa: Processed at the Spanish consulate in the country of residence, with an initial validity of 1 year.
- Residence permit: Application before the Large Companies Unit in Madrid, with an initial duration of 2 years.
- Physical card: Issued by the Foreigners Police at the place of residence, after fingerprinting.
Historical data on the Golden Visa
From its implementation in 2013 until its repeal in 2025, more than 10,500 visas for real estate investment were granted. The most popular provinces were Barcelona, Madrid, Málaga, Alicante, Balearic Islands, and Valencia, concentrating 90% of the grants.
According to Transparency International, the main beneficiaries were:
- China: 2,712 visas
- Russia: 1,159 visas
- Iran: 203 visas
- USA: 179 visas
- United Kingdom: 177 visas
- Egypt and Ukraine: 143 visas each
- Philippines: 122 visas
- Mexico: 114 visas
- Venezuela: 98 visas
- Saudi Arabia: 89 visas
