Spain's Golden Visa programme has long been a popular choice for non-EU investors seeking residency and a second passport in Europe. However, recent changes have altered the options for prospective applicants.
In April 2024, the Spanish government got rid of the property investment option for Golden Visas. This move aimed to ease pressures on the housing sector and address concerns about potential money laundering risks.
Despite this change, the Spanish Golden Visa programme remains open, offering several alternative investment routes. Here's what investors need to know about the current options.
Investment in Spanish Companies
One attractive option for Golden Visa applicants is investing in Spanish companies. This route requires a minimum investment of €1,000,000 or more in shares of Spanish firms.
Investors can choose to invest in one company or spread their investment across multiple businesses. It's worth noting that investments must be made in companies that are not purely holding companies.
Investment Funds
For those seeking a more hands-off approach, investing €1,000,000+ in Spanish investment funds is another viable option. This route allows investors to tap into professional fund management whilst meeting Golden Visa requirements. Applicants should be aware that these must be funds registered with the Spanish National Securities Market Commission (CNMV).
Government Bonds
For the most risk-averse investors, purchasing at least €2,000,000 in Spain government bonds offers a stable path to residency and potentially Spanish citizenship. This option provides a guaranteed return.
Business Investment
Entrepreneurs have the opportunity to obtain a Golden Visa through business investment. Unlike other options, there's no set minimum investment amount. Instead, the project must meet certain criteria:
Create jobs
Have a significant socio-economic impact in the area
Contribute to scientific and/or technological innovation
Bank Deposits
Opening a deposit of €1,000,000 or more in a Spanish bank is another straightforward option. This route is simple but offers limited returns in the current low-interest environment.
Living in Spain with a Golden Visa
Regardless of the investment route chosen, Golden Visa holders enjoy great flexibility. There's no requirement to live in Spain permanently. To maintain and renew the visa, investors need only spend 183 days per year in the country.
After five years, investors can apply for permanent residency. This requires spending at least 183 days annually in Spain. Permanent residency offers greater freedom of movement, even during times of crisis.
After ten years total, Golden Visa holders may be eligible for Spanish citizenship. This requires proving continuous residency, passing a basic language test, and demonstrating ties to the country.
What’s Next?
Navigating the Spanish Golden Visa programme requires careful consideration of your investment goals and lifestyle preferences. At International Wealth Ventures, we specialise in guiding investors through the complexities of global residency programmes.