Launched in 2013, Spain’s Golden Visa program has become popular among wealthy individuals seeking a second home.
It was initiated to stimulate foreign investments and boost the Spanish economy following its financial crisis. The idea is simple: invest at least €500,000 into the Spanish economy, gain residency rights, and various other benefits.
Real estate investment. To qualify for Spain’s Golden Visa, you must invest at least €500,000 in Spanish property. You can choose to invest in residential or commercial property, and there are no restrictions on the type of property you can buy. Plus, you’re free to rent out your purchased properties, allowing you to generate income.
Other investment options under the Spain Golden Visa Program
Aside from the investment, you must demonstrate that you have sufficient economic means to support yourself and your dependents during your stay in Spain. The required sum of money is at least €28,800 for the principal investor. €7,000 must be added for each dependent candidate.
The investor who applies for Spain Golden Visa must be over 18, have no criminal record and debt in Spain, earn investment money outside Spain and possess health insurance.
Once you have your Golden Visa, you only need to visit Spain once a year to maintain your residence permit. It is excellent for those who don’t wish to live in Spain constantly but still desire the advantages of being an EU inhabitant, such as the liberty of travel within the Schengen Zone.
Spain Golden Visa offers some other benefits that make it a desirable document for many wealthy people. Let’s consider some of them.