Spain digital nomad visa: full guide (2023)
Everything you need to know about getting the digital nomad visa in Spain.
Spain Golden Visa program: Full guide
Spain Golden Visa is a residency-by-investment scheme. For a minimum investment of 500,000 EUR, non-EU nationals can get a Spanish residence permit and secure visa-free travel across Europe's Schengen Area.
Eventually, you can also obtain Spanish citizenship.
Spain announced plans to end Golden Visas for real estate investments in early 2024, but concrete changes have yet to be made. The Spain Golden Visa program is running business as usual, and real estate remains a valid investment option as of October 2024.¹
In this article, you'll learn how to get a Golden Visa in Spain. We'll also introduce you to Wise, a secure way to transfer funds abroad with low fees and without exchange markup rates.
What is the Spain Golden Visa program?
Many EU countries have residence-by-investment programs, commonly known as Golden Visas. Spain's version launched in 2013.¹ It allows foreign investors to get temporary residency in Spain through a significant capital investment.
As of 2024, you can invest in Spanish real estate, business investments or government bonds. The minimum investment starts at 500,000 EUR but can go as high as 2,000,000 EUR for certain investment options.²
The Spanish Golden Visa gives you the right to live and work in Spain, travel freely within the Schengen Area and enjoy Spain's high standard of living. Plus, your investment could lead to permanent residency and eventually citizenship.
| Spain Golden Visa program quick facts: |
|---|
| Minimum investment: EUR 500,000² Processing time: 5+ months³ Time to citizenship: 10 years³ Duration: 1 year (renewable), permanent residency is possible after 5 years³ |
Benefits of a Spain Golden Visa
The Spanish Golden Visa program is one of the most popular in the EU because it comes with great benefits.
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Live, work, and study freely in Spain: You can choose any city or region in Spain, take any job you want, start a business, or enroll in Spanish universities
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Include your whole family: Your investment covers everyone - your spouse or registered partner, all dependent children and dependent parents over 65. Each family member gets the same rights and benefits as you do
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Access world-class education and healthcare: Your children can enroll in Spain's high-quality public or private schools, and later attend Spanish universities at local student rates. Your family also gets full access to Spain's comprehensive healthcare system, ranked among the world's best
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Visa-free travel across the Schengen Area: Your Golden Visa lets you move freely through EU countries without additional visas or permits
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No language tests or business experience required: Unlike some residency programs, Spain doesn't require you to speak Spanish or have any specific professional background
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Keep your home base elsewhere: Spain's Golden Visa is incredibly flexible with residency requirements. You only need to visit Spain when it's time to renew your permit. This means you can live in another country while keeping your Spanish residency
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Path to permanency: After maintaining your Spain Golden Visa for 5 years, you can apply for permanent residency. Another 5 years after that, you're eligible for Spanish citizenship
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Citizenship fast-track for children: If you have a child while holding a Spain Golden Visa, that child can become a Spanish citizen after just one year of residence
All of these benefits make Spain an attractive Golden Visa destination for many families.
Who’s eligible for a Spain Golden Visa?
To qualify for a Golden Visa in Spain, you must:
- Be at least 18 years old
- Not currently live in Spain illegally
- Have a clean criminal record for the past 5 years
- Not be barred from entering Spain
- Have valid health insurance coverage
- Make the required investment and show sufficient financial means
- Not have recent visa rejections from Spain or certain other countries
- Meet basic health requirements
You can also include family members on your Spain Golden Visa application. Eligible family members include:
- Your spouse or registered partner (including same-sex partnerships)
- Dependent children of any age
- Your parents or in-laws over 65 who depend on you financially
Your family members also need to have a clean criminal record and pass basic health requirements.
Spain Golden Visa requirements
Spain offers 3 main investment paths. The minimum investment starts at 500,000 EUR for the real estate investment but can go as high as 2,000,000 EUR for Spanish government bonds.²
| Investment type | Minimum amount² |
|---|---|
| Real estate | 500,000 EUR |
| Financial investments | 1,000,000 EUR |
| Government bonds | 2,000,000 EUR |
| 🔍 Wondering how much that would cost in USD? Check out this handy conversion calculator: |
|---|
Real estate investment is the most popular choice among investors.
There have been announcements that Spain is planning to stop having real estate investment as an option to apply for a Golden Visa, but as of October 2024, no official steps have been taken.¹
The requirements for the other two investment paths are complex, but you can typically invest in Spanish financial institutions, Spanish companies, Spanish public debt securities, venture capital funds, and more.
It's a good idea to consult with a lawyer or a Golden Visa agency for the specifics of the investor visa.
Real estate investment
Purchasing real estate is the most popular path to residency in Spain because it has the lowest minimum investment. It's also quite flexible.
You can:
- Buy residential or commercial property
- Purchase one property or several that total 500,000 EUR
- Own it personally or through your company (if you're the majority shareholder)
- Rent out the property for income
- Get VAT benefits on commercial properties (21% can be reclaimed)³
The only thing you can't do is sell your investment property. Then you'll lose your Spanish temporary residence permit.
Financial means
Beyond your investment, you'll need to prove you can support yourself and any dependents in Spain. Here's what that looks like in 2024:²
- The main applicant needs: 28,800 EUR (400% of IPREM)
- Each family member adds: 7,200 EUR (100% of IPREM)
The IPREM (Spain's Public Multiple Effects Income Indicator) is currently 600 EUR per month or 7,200 EUR annually. These amounts adjust every year.
You must deposit the required amounts into your Spanish bank account.
How much is a Spain Golden Visa
Government fees
Spain Golden Visa Visa fees depend on your nationality. Here's what they are in 2024.
| Nationality | Spain Golden Visa fee² |
|---|---|
| US citizens | 190 USD |
| Australian citizens | 3,111 USD |
| Canadian citizens | 811 USD |
| Ethiopian citizens | 508 USD |
| Mauritanian citizens | 263 USD |
| UK citizens | Varies |
| All others | 99 USD |
These fees are updated quarterly based on exchange rates.
Property-related fees
If you're buying Spanish real estate, there are additional property-related costs. You'll likely need to cover VAT, stamp duty, transfer tax and other fees.
VAT can be as low as** 10%** for residential properties in new buildings and as high as 25% for commercial real estate. But sometimes it’s possible to reclaim the 21% VAT.³
It's a good idea to consult with a property or tax lawyer to minimize real estate taxes.
Additional fees
There are a few additional costs that you need to budget for during the Spain Golden Visa process.
You must translate all documents into Spanish and legalize them, which comes with fees. If you hire a Golden Visa agency to support you through the process (something many investors do), you'll also have to cover the cost of their services.
You'll also need to transfer money or invest, which almost always means paying bank fees and currency exchange rates. It's essential to compare different providers to minimize your financial losses.
Buying property abroad? Send money the hassle-free way with Wise
Wise offers you a quick, secure and transparent way of sending money to Spain. You get the mid-market exchange rate for your payments and see how much it’s charged for the transfer before sending the money from your bank.
With the Wise Account you can also hold 40+ currencies, spend money in 150+ countries, and receive like a local in 9 different currencies.
Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information
Getting a Spain Golden Visa: step by step
Here's the process for participating in Spain's Golden Visa program.
Step 1. Select your investment path
Step 2. Submit your Spain Golden Visa application (for yourself and any immediate family members)
Step 3. Visit Spain for biometric data collection (takes about 2 months)³
Step 4. Wait for review (typically 20 days)³
Step 5. Receive your Spanish investor visa
You need to make your investment before you submit your application. You also need to collect all of the required documents (translated and legalized, when applicable):
- Completed application
- Recent photo
- Valid passport
- Investment proof
- Financial means evidence
- Health insurance certificate
- Clean criminal record
- Family relationship documents (if applicable)
- Proof of financial dependence (for dependent family members)
- Any additional supporting documents requested
If you're working with a Golden Visa agent or company, they'll help you correctly prepare your documents for a successful application.
Spain Golden Visa program timeline
From start to finish, expect the process to take about 5+ months.³ You need to make your investment and collect the necessary documents before you apply.
Spain Golden Visa renewals
Your initial Spanish Golden Visa lasts 1 year. After that, you can extend it for 2-year periods for up to 5 years.
To renew your Spanish residence visa, you must:
- Have a current visa or one that expired less than 90 days ago³
- Have spent at least 1 month in Spain during the previous year³
- Maintain your original investment
- Still meet all initial visa requirements
| 💡 After 5 years of having a temporary residence permit, Golden Visa holders can apply for permanent residency. It's a separate process with additional requirements that are different from the golden visa. |
|---|
Spain citizenship by investment
The Spain Golden Visa program doesn't offer immediate citizenship, but it creates a path there.
After maintaining your residency for 10 years, you can apply for Spanish citizenship. However, you'll likely need to give up your current citizenship. Spain generally doesn't allow dual nationality.³
Only citizens of France, Portugal, Andorra and a few Latin American countries can keep their original citizenship.³
There's a faster track for some: Sephardi Jews and citizens of certain countries (including Equatorial Guinea, Latin American nations, and the Philippines) can apply after just two years of residence.⁴
Overall, there's no Spain citizenship by investment. But the Golden Visa gives you the opportunity to potentially become a Spanish citizen in the future.
Spain Golden Visa FAQs
Is Spain's Golden Visa ending?
As of October 2024, Spain's Golden Visa program is running business as usual. There have been announcements and discussions about changing the program, especially when it comes to real estate investments.
It's possible that investing in real estate won't be a qualifying investment in the future, but no concrete changes have been implemented yet.
Can I get residency in Spain if I buy a house?
Yes, but only if you invest 500,000 EUR or more in your property.² Buying a property at a lower price point won't qualify you for residency.
Once you secure your 500,000+ EUR property, you'll need to apply for the Spanish Golden Visa to receive a renewable temporary residence permit.
Can I buy a house in Spain as an American?
Yes, Americans can easily purchase Spanish property. But keep in mind that your property needs to cost 500,000 EUR or more to qualify you for the Golden Visa program.²
Learn more about buying a house in Spain as an American here.
How long can I stay in Spain if I own a property?
Owning property in Spain doesn't give you any special residency rights unless you apply for the Golden Visa. Without residency, you're limited to standard tourist visa rules: 90 days per 180-day period in the Schengen Area.⁵
What are the disadvantages of the Golden Visa in Spain?
Spain Golden Visa program is an attractive option for many foreign investors, but it comes with higher costs compared to other EU programs, a lengthy path to citizenship (10 years) and the likely requirement to give up your original citizenship if you pursue naturalization.³
Getting a Spanish Golden Visa gives you the right to live, work and study anywhere in Spain as well as travel visa-free to other EU countries. You can also include your immediate family members in your application.
To apply for the Golden Visa, you need to invest a minimum of 500,000 EUR in residential or commercial real estate. There are also other investment options, but they start at 1,000,000 EUR and go as high as 2,000,000 EUR.²
You can easily transfer large amounts of money to Spain with Wise. There are no exchange rate markups and every cent is protected with HTTPS encryption and 2-step verification.
Sources
- Euronews - Spain promises a total ban on Golden Visas
- Ministerio de Asuntos Exteriores, Union Europea y Cooperación - Investor visa
- Immigrant Invest - Spain Golden Visa
- Henley & Partners - Spain
- US Department of State - Spain
Sources checked 10.24.2024
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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