Last Updated on March 2, 2026 by Emily Hopkins
Are you an investor looking for the best way to use your investment to obtain a residence permit in Spain? Spain has long been known for its world-class beaches, rich cuisine, and high standard of living, which once made the Spain Golden Visa a popular choice for investors and their families. However, it is important to note from the start that the Spain Golden Visa program is now closed and is no longer open to new applicants.
If you were considering the Spain Golden Visa and are unsure what this means for you, don’t worry. This post is still for you. We explain what the Golden Visa was, why it attracted so much attention, and most importantly, what alternative residency options are available today.
Let’s go through the former qualification rules, the benefits it offered, and how the process worked, before exploring the best current alternatives for investors who still want to live in Spain. Read on to find out what options you can now consider instead of the Golden Visa and which one may suit you and your family best.
Can expats obtain Spain’s Golden Visa?
No, expats can no longer obtain Spain’s Golden Visa as a new applicant. The Spain Golden Visa, officially known as the “Residence Visa for Investors and Entrepreneurs,” is now closed to new applications. This means non-EU citizens can no longer gain Spanish residency by making a qualifying investment under this program.
When it was still available, the Golden Visa granted an initial residence permit for two years, renewable every two years as long as the investment was maintained. After five years of legal residence, holders could apply for permanent residency and, later, citizenship, provided they met additional legal requirements.
Although the Golden Visa is no longer an option for new investors, there are still other residency pathways for expats who wish to live in Spain, which we will explore later in this post.
Eligibility criteria
First and foremost, the Spain Golden Visa Program was specifically designed to attract expat investors outside the EU. Another qualifying requirement was on the financial front. You had to possess the funds required for the specified investment and also have enough finances to sustain yourself and your family while living in Spain.
Other than that, you had to provide a criminal record certificate from your country of origin and private insurance valid in Spain. Something else worth noting is that you had to provide a medical certificate confirming that you do not suffer from any diseases that could have a serious public health impact.
Why Choose Spain for the Golden Visa?
Spain was once one of the most attractive destinations for investors seeking a Golden Visa compared to similar programs in other European countries.
It became especially popular among expat investors due to its lifestyle, strong economy, and clear legal framework for investor residency.
To put this into perspective, Spain granted more than 25,000 Golden Visas after the program was introduced. This made it one of the most widely used investor visa schemes in Europe.
Its popularity was largely driven by the legislation behind the program. Unlike some other countries, Spain did not impose a strict minimum physical residence requirement for Golden Visa holders.
Spain’s real estate market also offered appealing investment opportunities in cities such as Barcelona, Madrid, and Valencia.
These locations allowed investors to benefit from long-term property appreciation. The Golden Visa allowed investors to qualify for residency through property purchases.
This route was once more flexible than in countries like Portugal, where real estate investment was limited to certain regions.
However, despite its past advantages, this program is no longer open to new applicants.
Investors must now consider alternative residency options instead.
Benefits of the Spain Golden Visa
As an investor who has chosen Spain as your preferred destination, what benefits could you have gotten from the program? Here is a quick rundown of the benefits of the Spain golden visa.
- Residency in Spain: The Golden Visa allowed you and your family to live and work in Spain, with the possibility of obtaining permanent residency and citizenship eventually.
- Visa-free Travel: Holding a Golden Visa granted you access to the Schengen Area, allowing visa-free travel to 26 European countries.
- Real Estate Investment: The program required investment in real estate, providing an opportunity to invest in Spain’s attractive property market.
- Family Benefits: The Golden Visa extended benefits to your spouse and children, allowing the whole family to reside in Spain.
- Education and Healthcare: Investors and their families could access Spain’s public education and healthcare systems.
- Business Opportunities: As a Golden Visa holder, you could open up business opportunities in Spain and the wider European Union.
Overview of the Spain Golden Visa
The Spain Golden Visa program was launched in 2013 to attract foreign investment after the global financial crisis. It offered residency to non-EU citizens who made significant investments in Spain, mainly through property or business activity.
The program was widely seen as successful because it brought substantial foreign capital into the Spanish economy. Much of this investment flowed into real estate and supported job creation and regional development.
However, the Spain Golden Visa is now closed and no longer accepts new applicants. It was never a direct route to citizenship, but long-term residents could apply after ten years of legal residence.
Documents Required for the Golden Visa
Depending on the nature of your investment plans in Spain, you had to submit various documents demonstrating your business activities and compliance with the relevant regulations. But, in all cases, these were the mandatory documents:
- A criminal record certificate. Applicants who are of legal age must submit both the original and a copy of the criminal record check declaration issued by the country. This certificate should be from where you resided for more than six months in the last two years.
- A valid Passport with at least one year of validity.
- Proof of sufficient funds to cover living expenses.
- Proof of medical insurance coverage.
- Proof of your children’s schooling, if applicable, is issued by the relevant authorities.
- All documents must be translated into Spanish and legalized.
- Evidence of payment of the visa fee, which must be made in euros, the local currency.
Timeframe and Cost of Applying for the Golden Visa
The Golden Visa application timeline previously depended on how prepared the investor was before starting the process.
The first months were usually spent choosing an investment and completing the required financial transaction.
During this period, applicants prepared and submitted their Golden Visa application and scheduled a biometric appointment in Spain.
After arrival, they applied for a temporary residence card known as the Spanish Foreign Identity Card, or TIE.
The Large Business Unit and Strategic Groups had up to 30 days to issue a decision on the residence permit application.
Applicants then attended another biometric appointment before collecting their TIE in person.
The residence card had to be renewed before expiry, usually after two years.
However, this process is no longer available because the Spain Golden Visa is closed to new applicants.
Applicants were also required to pay government visa application and approval fees.
For property investments, the main applicant paid €1,910 and each dependent paid €1,202.
These government fees were mandatory and had to be paid during the application process.
Renewal of the residence permit also involved additional government fees.
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Financial Requirements to Qualify
The Spain Golden Visa previously required investors to meet specific financial conditions linked to both personal support and the qualifying investment. Applicants had to prove they could support themselves financially while living in Spain.
They were required to show funds equal to 400 percent of IPREM for personal sustenance. In 2025, this amount was about €2,400 per month for the main applicant. An additional €600 per month was required for each dependent family member.
Applicants also had to provide bank statements covering at least two years of living expenses in Spain. The required investment amount depended on the chosen investment route, such as real estate or business activity.
Real Estate Investment Option
This option required a significant investment in Spanish real estate, with the program’s designated amount set at €500,000. As an investor, you could choose residential, commercial, or a mix of both types of properties. The property could be rented out for income generation. Multiple buyers could also pool their investments into a single property, and any amount exceeding the minimum investment could be financed through a mortgage.
Business Development in Spain
This pathway to residency in Spain through investment was more focused on directly benefiting the Spanish economy. If you selected this option, you had to:
- Create jobs;
- Ensure your investment has a socio-economic impact on the country;
- Contribute to scientific or technological innovations.
The minimum investment required for this option was €1 million.
Capital Transfer
Another option was to invest a significant sum in Spanish Treasury bonds to take advantage of the Golden Visa program in Spain. This option was popular among applicants due to the financial security of these bonds, which the government backs.
Investing in Treasury bonds was a relatively safe option that offers competitive returns. The minimum investment required for this option was €1 million. Alternatively, you could invest a minimum of €1 million in shares of Spanish companies or bank deposits with a Spanish financial institution.
Rights and Duties that Came with the Golden Visa
Along with the benefits of residency, such as the ability to live and work in Spain, Golden Visa holders also had certain rights and duties.
Rights Granted
- Residency: The Golden Visa granted residency in Spain, allowing the visa holder and their family to live and work there.
- Travel: Holders of the Golden Visa had the right to travel freely within the Schengen Area.
- Healthcare and Education: Golden Visa holders could access Spain’s public healthcare and education systems.
- Real Estate Investment: The Golden Visa allows for investment in real estate, which could lead to potential financial gains.
- Family Reunification: The visa allowed for family reunification, allowing spouses and dependent children to join the visa holder in Spain.
Duties
- Investment Requirements: Golden Visa holders had to fulfill the investment requirements specified by the Spanish government, which typically included investing in real estate or other assets.
- Residency Obligations: Holders of the Golden Visa had to maintain their residency status by living in Spain for a certain period each year, as stipulated by the requirements.
- Compliance with Laws: Golden Visa holders had to comply with Spanish laws and regulations during their stay in the country.
- Renewal Requirements: Golden Visa holders had to meet the renewal requirements to maintain their residency status in Spain.
- Tax Obligations: Holders of the Golden Visa were subject to Spanish tax laws and had to fulfill their tax obligations there.
Could family members be included on the Spain Golden Visa?
Yes, family members could be included in the Spain Golden Visa application. This program allowed the main applicant to include their spouse or partner, as well as dependent children under the age of 18 or dependent adults. Family members included in the application would also receive residency permits and have the right to live, work, and study in Spain.
Duration of the Spain Golden Visa
The Spain Golden Visa previously granted an initial residence permit valid for one year. After the first year, it could be renewed for two-year periods if the investment was maintained. After five years of continuous legal residence, holders could apply for permanent residency.
Citizenship was only possible later, subject to meeting legal and integration requirements. However, this route is no longer available because the Spain Golden Visa is closed to new applicants.
Can I get citizenship by investing in Spain?
When the program was active, investors first needed to hold a valid Spanish residence permit for a long period. In most cases, this period was ten years of legal and continuous residence in Spain.
During this time, applicants had to maintain their qualifying investment and meet additional legal requirements. These requirements included passing a Spanish society exam and proving integration into Spanish culture and life.
After completing the residency period, applicants could submit a citizenship application to Spanish authorities. The final decision on citizenship was always discretionary and depended on meeting all legal conditions.
Taxation in Spain for Golden Visa Holders
The Spain Golden Visa itself did not determine your tax obligations. Taxation depended mainly on how many days you spent living in Spain each year.
If you stayed in Spain for more than 183 days in a year, you were considered a tax resident. Tax residents were required to declare their worldwide income in Spain.
The Golden Visa did not require holders to stay more than 183 days to renew their residence permit. Your physical presence in Spain was the key factor in determining your tax status.
As a tax resident, you were subject to progressive income tax rates that could reach high national and regional levels. Additional taxes could include a wealth tax and capital gains tax, depending on your personal situation. If you stayed fewer than 183 days, you were treated as a non resident for tax purposes. Non-residents were generally taxed only on income and assets linked to Spain. These rules applied when the Golden Visa program was active and remain part of Spain’s general tax system today.
Application Process for the Golden Visa
The Spain Golden Visa application process previously involved several structured steps for qualifying investors.
- Applicants first selected an approved investment option such as real estate, business development, or capital transfer.
- They then gathered required documents, including proof of funds, criminal records, and valid health insurance.
- Applications were submitted through a Spanish consulate or directly to the relevant Spanish authority in Spain.
- After approval, applicants attended a biometric appointment at an authorized collection center.
- Once completed, they received a residence permit allowing them to live and work in Spain.
- The residence permit had to be renewed every two years by maintaining the qualifying investment.
- After five years of legal residence, holders could apply for permanent residence or citizenship if conditions were met.
- However, this process is no longer available because the Spain Golden Visa is closed to new applicants.
- Investors must now consider alternative residency pathways to live in Spain.
Alternatives you can use in 2026
Now that you have a clear picture of how the Spain Golden Visa used to work, it is time to look at the options that are actually available today.
As of February 2026, Spain still offers several legal residency routes for foreigners who want to live in the country without using the Golden Visa.
Non Lucrative Visa
The Non Lucrative Visa is one of the most popular alternatives for people who do not need to work in Spain. It is designed for retirees and financially independent individuals.
You must prove stable passive income and private health insurance.This visa allows you to live in Spain but not work for a Spanish employer. It can lead to long term residence and citizenship if residency requirements are met.
Digital Nomad Visa
Spain offers a Digital Nomad Visa for remote workers and freelancers.It is intended for people who work for foreign companies or clients outside Spain. Applicants must meet income requirements and show professional experience or qualifications.
This visa allows legal residence while working remotely from Spain. It is currently one of the most attractive options for younger professionals.
Work Visa
A standard work visa is available if you have a job offer from a Spanish employer. The employer must usually prove that the position cannot be easily filled by a local worker.
This option is suitable for professionals in approved or high-demand sectors. It allows you to live and work in Spain legally.
Entrepreneur Visa
Spain offers an Entrepreneur Visa for people who want to start an innovative business.
Your business plan must be approved by the Spanish authorities. The project must show economic value or job creation potential. This visa is designed for founders and startup owners.
Read also: Types of visas for Spain: All options for Expats
Do you need help obtaining Spain’s Golden Visa?
If you were considering the Spain Golden Visa, it is important to understand that the program is now closed to new applicants.
Viv Europe can still guide you through alternative residency options available for investors who wish to live in Spain.
To receive advice tailored to your situation, you can book a consultation with Viv Europe and explore suitable legal pathways.
If you want to connect with expats in Portugal or Spain, you can also join the Facebook Group All About Spain For Expats.
