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Golden Visa Mortgage in Spain – Last Chance

As publicized in recent news reports, The Spanish Government have decided to begin the process of eliminating the golden visa scheme.

Spain provides diverse pathways for acquiring a Spanish residency permit, with the most efficient and prestigious being the Golden Visa program. This initiative offers residency to individuals who make investments in Spain. In this article, we aim to address all queries you may have regarding this programme.


1. Overview of the Golden Visa program

2. Eligibility criteria for the Golden Visa

3. Varieties of Golden Visa options in Spain

4. Golden Visa through Financial Assets Investment

5. Golden Visa through Business Investment – Equity Shares

6. Golden Visa through Real Estate Investment

7. Steps for Property Acquisition or Real Estate Investment in Spain

8. Benefits of acquiring a Golden Visa

9. Procedure for obtaining a Golden Visa

10. Necessary Documents for Golden Visa application

11. Validity Period of a Spanish Golden Visa

12. Applying for a Golden Residence Permit in Spain – The premium approach

Overview of the Golden Visa program:

The Golden Visa program offers residency through investment to non-EU citizens who are willing to invest in Spain, be it in real estate, public debt, or a Spanish company. Established in September 2013, under the 14/2013 Act on International Mobility, the program aims to support entrepreneurial internationalization, promoting professionals, executives, and entrepreneurs, as well as encouraging foreign investment. Although not a direct route to citizenship, the program allows the possibility of citizenship after residing in Spain for 10 years under the Golden Visa.

Eligibility criteria for the Golden Visa:

The Golden Visa, or investor visa, is open to foreigners making significant capital investments. Eligible investments include:

• Investing a minimum of €1 or €2 million in Spanish financial assets.

• Purchasing company shares, making a deposit in a Spanish bank of at least €1 million, or initiating a business project considered of general interest in Spain.

• Investing in real estate with a minimum value of €500,000.

Applicants must meet additional requirements, including being at least 18 years old, having a clean criminal record, obtaining health insurance in Spain, and not being previously denied a Schengen Visa.

The different Golden Visa options in Spain

In brief, the Golden Visa can be obtained through the following investments:

• Investment in Financial Assets

• Investment in Business – Equity Shares

• Investment in Real Estate – Property Acquisition

Let’s delve into each of them in detail.

Golden Visa through Financial Assets Investment:

Unlike property acquisition, investing in Financial Assets involves fewer steps. This investment type offers flexibility and liquidity but carries risks associated with financial market fluctuations. To obtain a Golden Visa through Financial Assets investment, a minimum investment of:

• €1 million in bank deposits in a Spanish bank, held solely by the investor.

• €1 million in Spanish investment funds, closed-end investment funds, or venture capital funds.

• €2 million in Spanish public debt, held solely by the investor for at least 5 years.

Applicants must provide a certificate confirming their investment, obtainable from the Bank of Spain or the relevant bank/entity.

Golden Visa through Business Investment – Equity Shares:

Another route to the Golden Visa is through investment in company shares or initiating a business project deemed of general interest to Spain. Options include:

• Investing €1 million in shares of Spanish companies with actual business activity.

• No minimum investment required for a business project.

The Immigration Office evaluates the investment’s impact on Spain’s general interest, considering factors like job creation, socio-economic impact, and contributions to scientific or technological innovation. Applicants must provide a declaration or certificate proving their investment.

Golden Visa through Real Estate Investment:

Real estate investment is a popular option for obtaining the Golden Visa. A minimum investment of €500,000 is required, free of mortgages or other charges. Additional charges are permissible on top of the initial €500,000. The one-year waiting period before applying for the Golden Visa does not apply to real estate investments. Investments can be spread across multiple properties in Spain, which are also eligible for rental.

Many of our clients pursue this option – it is possible to invest €500k (free of mortgage or other charges), and then ‘top up’ the remaining amount with a mortgage.

Steps for Property Acquisition or Real Estate Investment in Spain:
While there are no specific requirements for property acquisition or real estate investment, possessing a Foreign Identity Number (NIE) and a Spanish bank account facilitates transactions (we will help with the bank account as part of our service). The process involves:

1. Identifying and making an offer for desired property.

2. Signing a down-payment contract (Contrato de Arras) and paying the down-payment amount.

3. Arranging a mortgage, if necessary, with assistance from Mortgage Direct.

4. Signing a final contract (Escritura de Compraventa) in front of a Notary and registering the property at the Registro de la Propiedad.

Benefits of acquiring a Golden Visa:

• Expedited procedure

• Option to exchange for a residence permit

• Simple renewal process

• Inclusion of family members

• Accessible travel within Schengen nations

The Golden Visa program streamlines the residency acquisition process for investors in Spain, offering numerous benefits. Its fast-tracked procedure makes it the quickest route to obtaining a Spanish visa or residency permit. Visa processing takes approximately 10 working days, with residence permits taking 20 working days. Golden Visa holders can exchange their visa for a residence permit within the first year, valid for two years and renewable as long as the investment remains active. Additionally, family members can be included, with exemptions from the €500,000 real estate investment requirement.

Procedure for obtaining a Golden Visa:

To apply for a Golden Visa, one must make a valid capital investment in Spain. Applications can be submitted at the nearest Spanish Embassy or Consulate, either in person or online for residents in Spain. Applicants should schedule an appointment and prepare necessary documents.

Necessary Documents for Golden Visa application:

Required documents include:

• Spanish Visa Application form

• Two passport-sized photographs

• Valid passport or residence permit

• Proof of sufficient income

• Criminal background check

• Health insurance proof

• Visa Application fee payment proof

• Proof of residence in the consular district

• Original and copy of documents confirming the investment

The visa must be collected in person within a month of approval, along with the original passport or residence permit.

Validity Period of a Spanish Golden Visa:

A Golden Visa is initially valid for one year and can be renewed indefinitely as long as the investment remains active. Renewal requires at least one visit to Spain during the visa period. After ten years of residency under the Golden Visa, applicants can apply for citizenship.

Applying for a Golden Residence Permit in Spain – The premium approach:

To apply for the Golden Visa program, one must be legally present in Spain and submit a residence permit application online at the Unidad de Grandes Empresas y Colectivos Estrátegicos – UGE, with documents similar to those as in the visa application. The programme is particularly suitable for highly qualified individuals, businessmen, and entrepreneurs seeking rapid residency in Spain. While the application process is relatively straightforward, professional assistance is still recommended.

The best Golden Visa Mortgage option in Spain in 2024: Mortgage Direct

Since 2006, we have been using our expertise to help guide our clients through the mortgage application and real estate buying process.

Mortgage Direct’s multi-lingual team of qualified advisers provide unrivalled personalised advice on Spanish mortgages with exclusive mortgage conditions – ensuring your money is safe as well as profitable!

If you have any questions surrounding your upcoming Spanish Golden Visa or would like to discuss a tailor-made solution for yourself, please get in touch with us today.

Will Roberts Mortgage Adviser

Originally from the UK, Will has been based in Barcelona since 2019. He holds a diverse range of financial qualifications and has experience in numerous international roles in the financial sector, along with a managerial position in a FTSE 100 organisation. Fluent in English & Spanish.

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Mortgages taken out in currencies other than the currency in which you earn are considered Foreign Currency Mortgages. Changes in the exchange rate may therefore increase the equivalent value of your debt. Under the Mortgage Law 5/2019 banks in Spain have introduced mechanisms to protect consumers from exchange-rate risk. For more information, please speak to your broker.

Mortgage Direct, S.L. is a company registered in the Registro de Intermediarios de Crédito Inmobiliario del BdE with the nº D108.

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