How to apply for a Golden visa/investor visa in Spain?

The investor visa also called the golden visa, is a type of visa for those who have made a “significant investment” in Spain. This visa offers the holder and their family members residency in Spain and access to other Schengen countries. Usually, the golden visa is one of the fastest and easiest ways to acquire residency for non-EU foreigners where EU laws do not apply. This visa type has gained popularity in recent years due to its simplicity and fast speed of approval, especially among wealthy individuals.

 

1. What are the benefits of a Spanish golden visa?

2. Who is eligible for this visa type?

3. How long does the investor visa last?

4. What is the visa application process?

5. What are the next steps once the applicants arrive in Spain?

 

UPDATE: Despite rumors of the Spanish government wanting to either increase the minimums or discontinue this visa, no agreement has been reached yet. That being said, if you're interested in this visa now is the time to get it.

 

1. What are the benefits of a Spanish golden visa?

 

• Fast-track process in both the visa and the residence permit approbation process
• You do not have to always live in Spain to renew the residence permit
• You can work and live in Spain legally
• You can bring your family members with you (spouse, children, and dependent parents) and live everywhere within the Spanish territories

 

 

2. Who is eligible for this visa type?

 

This visa is designed for both investors and entrepreneurs expecting to live and work in Spain permanently. The primary requirement of this visa is that the main applicant should have made a significant investment, including any of the following:

 

• Purchase at least €500K in Spanish real estate. This investment can be a single unit or several, with an aggregate worth no less than €500K
• Invest at least €2 million in Spanish public debt
• Buy shares no less than €1 million of a Spanish company
• Deposit no less than €1 million in a Spanish bank
• Invest in no less than €1 million (closed-end) or venture capital funds set up in Spain
• Invest in new business projects: no specific amount is required. But this project must be of general interest-job creation, technological innovation, and relevant socio-economic impact in the area where the business is undertaken.

 

In addition to the investment, you also need to fulfill other requirements to obtain the visa:

 

• The applicant needs to be more than 18 years old, a non-EU resident, and not come from a country where EU laws apply.
• The applicant should not have criminal record history
• The applicant should not have been refused a Schengen Visa in the past
• The applicant should have Spanish health insurance that covers their stay for that year.
  • Expat insurance (health insurance) that meets both visa and residence requirements. In Spain, it ranks as the best, safest, and has the highest satisfaction. We are an insurance company that speaks English. This residency insurance meets all the NIE/TIE renewal requirements.

 

• The applicant should also fulfill income requirements. Having a sizable investment in Spain is not the only monetary requirement. The application for a golden visa also requires you to have sufficient income to support the applicant and their family throughout their whole stay in Spain.
  • Investors – a monthly income of 400% of the IPREM(€564.90 for 2021. For other years, it’s required to check here). This means that the main applicant will need to demonstrate an income of at least €2,259.60 per month
  • For each additional family member, 100% of the IPREM is required (€564.90 in 2021) for each additional family member
  • Entrepreneurs – a monthly income of 100% of the IPREM which would equate to €564.90 per month in 2021.
  • For each family member, 150% of the IPREM per month is required with more than two additional members, 50% of the IPREM for each family member per month.

 

The golden visa system also allows the following family members of the investor/entrepreneur to apply for residency:

 

• The spouse or unmarried couple
• Minors or children over 18 who are dependent on the holder
• Dependent elderly parents

 

3. How long does the investor visa last?

 

• The Golden visa obtained at the embassy will be valid for 6 months-1 year.
• During this year, the applicant needs to enter Spain and exchange the visa for a Spanish residence permit, which will be valid for two years.
• After two years, the investor needs to apply for an extension of 5 years.
• If the applicant decides to reside in Spain permanently, he or she can apply for permanent residence after five years of continuous residency (which means that the applicant should stay in Spain for at least 6 months/year).

 

 

4. What is the visa application process?

 

To obtain this visa, you need to consult this website to find the nearest consulate and ask for an appointment by sending an email:

 

In the subject line, when you're asking for an appointment, you should specify the visa type that you'd like to apply, for to speed up the process.

 

Then in the email, you need to specify the following information:

 

• The applicant's details (full name, nationality, passport number, and telephone number)
• Visa type you wish to apply for
• Place of residency in your home country
• Reasons why you are requesting this visa
• Desired date for the appointment at the Consulate office (Note that they may not give you the appointment on the exact date that you prefer due to fluctuations of demands).

 

The documents you need to submit are:

 

• Spain Visa Application Form
• Two passport-size pictures
• Passport and copy: need to be valid for the initial period you intend to spend in Spain and have at least two blank pages
• Your residence permit (only if you are not a citizen of the country where you live)
• Documents that prove you have sufficient income to support yourself and your family as you live in Spain
• Non-criminal records, proving you have no criminal background
• They must be issued within the preceding three months of the application
• Proof of health insurance with an insurance company operating in Spain (Requirements are the same as above)
• Proof of payment of the visa fee specified by the consulate
• Any additional documents related to your specific case (investment or real estate purchase), as described below:
•  

It’s important to always remember that you need to confirm the specific documents needed in the consulate you decide to initiate the process since there might be a slight difference across consulates about which documents need to be submitted.

 

1. Investor of real estate (3 cases):

• A certificate issued by the Land Registry within the preceding three months of the application specifying the purchase amount.
• Or proof that the documents have been entered for filing along with the proof of payment if it has not been registered yet in the Land Registry.
• Or the preliminary contract, including a down payment, and a letter from a financial institution in Spain proving the availability of the required funds if the purchase of real estate has not yet been finalized

 

 

2. Other types of investors:

• Investment in the Spanish Government Debt: A certificate from the Bank of Spain or another financial institution, stating you are the sole owner of the investment for at least five years.
• Investment in stocks or shares in a Spanish company: A statement of the investment from the Spanish Registrar of Investments of the Ministry of Economy and Competitiveness.
• Investment in quoted shares: A certificate of the financial intermediary stating your investment, registered at the Spanish National Stock Market Commission or the Bank of Spain.
• Investment in a bank deposit: A certificate from the financial institution naming you as the sole owner of the bank deposit.

 

 

5. What are the next steps once the applicants arrive in Spain?

 

• When you arrive in Spain, you need to make a city town hall registration (empadronamiento) in the city town hall (ayuntamiento):
  • Empadronamiento. Depending on the city you are living the process may be a little different. But usually, you need to ask for an appointment (pedir una cita) in the nearest local Town Hall (Ayuntamiento) before going for this registration. You can search for “empadronamiento + the city you live” in search engines or “ayuntamiento” in map apps to find the nearest city town hall and their accepted way of making an appointment (online/offline). For example Madrid, Barcelona

 

• Then you need to present the documents already presented here. You need to go to the official website to ask for an appointment. Please note that obtaining an appointment may require some effort, especially in September and October, when the school year usually begins and there is quite a lot of NIE/TIE application demand. Some people argue that the possibility of getting an appointment is higher in the early mornings. Note that any National Police office (especially in a big city like Barcelona) is ok.
• Here’s a guide about how to use the website: 
  • Select the province you live from the dropdown menu, no matter where you live
  • Select Expedición de Tarjeta de Identidad de Extranjero
  • The province you select will come up automatically; select POLICIA: TOMA DE HUELLAS (EXPEDICIÓN DE TARJETA) Y RENOVACIÓN DE TARJETA DE LARGA DURACIÓN
  • Click on Aceptar
  • Ignore all the instructions and click on Entrar at the bottom of the page.
  • Tipo de document: select Pasaporte and fill in the passport number in the field that appears; then complete the fields below with your name and nationality; leave fecha de caducidad blank; click in the box stating you are not a robot.
  • Click on Solicitar cita; click on siguiente
  • Input telephone number; and e-mail address (They sometimes have problems with ‘Hotmail’, so it’s better to use other email addresses).
  • Click on Siguiente
  • Choose the appointment at the time and place that best suits your availability. Note that you don’t necessarily need to go to the nearest one to get your papers done.
  • When you get the appointment, you need to go with your documents to the specific office at a specific time.

 

Again, the golden visa is one of the best visas you can get to invest, work, or reside in Spain. If you choose to invest in real estate, innoinsure can not only help with your expat insurance but can also offer home insurance that ensures you a safe life in Spain!

 

Do you qualify for the Golden visa? If this isn´t for you, maybe see if one of these visas better fits your needs:

• Digital Nomad Visa
• Non-lucrative Visa
• Family reunification visa
• Working holiday visa
• Student Visa

 

 

References:

[1]Residence Visa for Buyers of Real Estate in Spain. (2021). Retrieved 13 July 2021, from https://www.exteriores.gob.es/Consulados/washington/en/ServiciosConsulares/Paginas/inicio.aspx 

[2]IPREM 2021 Indicador Público de Renta de Efectos Múltiples. (2021). Retrieved 13 July 2021, from http://www.iprem.com.es/

[3]Visado de Residencia por Adquisición de Bienes Inmuebles en España . (2021). Retrieved 13 July 2021, from https://www.exteriores.gob.es/Consulados/washington/en/ServiciosConsulares/Paginas/Consular/Visado-de-inversor.aspx