Golden Visa

Purchase a property worth half a million euros or invest two million in government bonds. The visa allows holders to travel freely throughout the European Union.

Between 2013 and 2023, more than 14,000 permits of this type had been granted, the majority to citizens of China and Russia.

Less than 0.1% of the more than four million homes sold during that period were purchased under the scheme.

Residency is granted with no obligation on the part of the beneficiary to actually live in the country or to pay taxes there.

Non-EU citizens who obtained the golden visa will keep it, even if there are changes to the legislation.

Italy: The Italian programme offers a two-year residence permit (renewable for three) in exchange for an investment of €2 million in Italian government bonds, an investment of €500,000 in an Italian limited company, an investment of €250,000 in an innovative Italian startup, or a donation of €1 million to a philanthropic initiative in Italy.

It can be extended for three years and, after 10 years, the holder may apply for citizenship.

32 two-year "investor" visas were issued to Russian citizens out of a total of 36 applications, according to data provided by the Ministry of Enterprise. This figure is higher than the number granted to investors from the United Kingdom, the United States and 23 other non-EU countries combined.

Earlier this year, Ireland abolished its Immigrant Investor Programme, which offered Irish residency in exchange for a donation of €500,000 or an annual investment of €1 million in the country over three years.

Citizens of the United Kingdom, the United States, Iran and Venezuela are also among those dreaming of a home in Spain.

Types of Permits

• Visa: when the applicant is outside Spain, they will obtain a permit to reside and work, if they wish, throughout the national territory. The permit is valid for 1 year, except in the case of property acquisition through a reservation contract (contrato de arras), which is 6 months. Once the year has elapsed, they must apply for a residence authorisation. Once the reservation contract has been formalised, they must apply for the visa or residence authorisation.
• Residence authorisation: when the applicant is legally in Spain, they will obtain a permit for 3 years to reside and work, if they wish, throughout the national territory. This permit must be renewed every 3 years.