The Golden Visa program in Spain is a residency-by-investment scheme that allows individuals from non-European Union countries to obtain residency in Spain by making a qualifying investment in the country. Launched in 2013, the program aims to attract foreign investors, stimulate economic growth, and create job opportunities in Spain.

To qualify for the Golden Visa, individuals must make one of the following types of investments:

  1. Real Estate Investment: The most common option is to invest a minimum of €500,000 in residential, commercial, or land properties in Spain. The property can be owned outright or financed through a mortgage.

  2. Capital Investment: Investors can choose to invest a minimum of €1 million in Spanish stocks, bonds, investment funds, or bank deposits.

  3. Business Investment: Another option is to invest at least €1 million in a Spanish company or create a business venture that generates employment opportunities in the country.

  4. Public Debt Investment: Investors can also qualify for the Golden Visa by purchasing at least €2 million in Spanish public debt securities.

Once the investment is made, individuals and their families are eligible to apply for the Golden Visa, which grants them temporary residency in Spain for an initial period of one year. The visa can be renewed every two years thereafter, as long as the investment is maintained.

One of the key benefits of the Golden Visa is the freedom of movement within the Schengen Area, which comprises 26 European countries that have abolished passport and immigration controls at their mutual borders. This allows visa holders to travel freely throughout the Schengen Zone for business or leisure purposes.

After five years of continuous residency, Golden Visa holders can apply for permanent residency in Spain, and after ten years, they may be eligible to apply for Spanish citizenship, provided they meet certain residency and language requirements.

The Golden Visa program has proven to be popular among high-net-worth individuals and investors seeking residency in Spain, attracted by its favorable climate, high quality of life, and strategic location within Europe. However, prospective applicants should carefully consider the financial implications and legal requirements before making an investment decision. Consulting with immigration experts or legal advisors familiar with the program can help ensure a smooth application process and compliance with all regulations.