Golden Visa

Golden Visa Spain

Residence for Investment Purposes

Since 2013, Spain has created a special residence permit, with expedited processing and advantages for foreign citizens and their family group, provided that they make a relevant investment within Spanish territory.

• All third country nationals (non-EU or Schengen Area citizens).

• Family members of the foreign citizen investor: spouse, minor or adult dependents, and dependent ascendants.

• Right of free access to the countries of the EU and the Schengen Area, without the need for a visa.

• Right to reside, work and study in Spain together with family members.

• Initial validity of two years and renewal of  ve years.

• Maintenance of residence without obligation to remain in Spanish territory.

• Right to apply for Spanish nationality by residence.

• Possibility to carry out the investment personally or through a company.

• Invest in any of the forms provided for in Law 14/2013 of September 27th, on support for entrepreneurs and their internationalization: real estate, bank deposits in Spanish financial institutions, shares in companies, public debt bonds or investment funds.

• Not being a EU, EEA, Switzerland citizen or a family member of citizens of these countries to whom the EU regime applies.

• Not be irregularly present in Spanish territory.

• Not have a criminal record in Spain or in the countries where he/she has previously been a legal resident.

• Not to be banned from entering Spain and not to be figured as inadmissible in the Member States of the Schengen Area.

• Have sufficient financial means to cover the costs of their own stay and return and those of their family members.

• Have a health insurance policy recognized in Spain for the period of residence.

Any of the following investments is required:




Real Estate


In one or more properties free of liens and encumbrances

Own funds of a capital company


To buy shares in a Spanish listed company, or of an S.L. with an ongoing business activity in Spain

Spanish Public Debt


Purchase of 5-year treasury bonds or10-year bonds

Investment fund or venture capital


Purchase of investment funds usually marketed by Spanish banks

Bank deposits


Deposits in current or savings accounts

In the case of real estate:

• It can be one or several properties that together amount to €500,000.00.

• A joint purchase (between several owners) is permitted, provided that each owner can prove the minimum investment. In case of spouses, one of them can be the investor and the other will apply as a relative of the investor.

• The required minimum investment must be free of liens and encumbrances.

• The investment can be made through a Spanish company or even a foreign company, provided that control over is demonstrated.

Unlike other residence permits, in order to obtain and renew the right to reside under a Golden Visa, there is no minimum period of residence required during each year of residence.

Due to the lack of a continuous residence requirement to maintain and renew the permit, a Golden Visa resident may not be required to be a tax resident in Spain as well, as long as he/she does not stay more than 183 days each year (including sporadic absences) or meets other tax residence criteria.

For the purposes of renewal, the investment must be maintained under the initial conditions.

In this way, the holder can maintain his permanent place of residence outside Spain without losing the privileges of the Golden Visa.

The stay in Spanish territory with a legal residence permit entitles the holder to apply for Spanish nationality on the grounds of habitual residence.

If the holder of the residence permit is a national of Argentina, Bolivia, Brazil, Colombia, Costa Rica, Chile, Cuba, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Puerto Rico, Dominican

Republic, Uruguay, Venezuela, or of Andorra, Philippines, Equatorial Guinea, Portugal or of Sephardic origin, he/she will have the right to apply for nationality after two years, provided that he/she has resided in Spain during that time continuously (staying for most of the days of the year).

The process would conclude with the granting of citizenship, passport and ID card.

Each family member may independently opt for his or her own application for nationality by residence.

Where to start the procedure

The application can be made entirely online during the investor’s stay in Spain as a tourist. As the resolution time is only 20 days, the foreigner and his/her family may reside in Spain immediately, once the application has been resolved favorably.

They may also choose to make the application from outside Spain, at the Spanish consulate corresponding to their place of residence.

Deadlines for resolution

The resolution period determined by the Entrepreneurs Law is 20 working days.


The initial validity of the residence permit is three years, provided that the procedure is initiated from Spain, with successive renewals of five years.

In the case of applying for the investor visa from the Consulate of the country of residence, the initial validity is for one year, with renewal by means of a residence permit for two years and then for five years.

• Fiscal planning: determine the risk of taxation due to possible displacement of investors.

• Legal advice on the investment operation: negotiation with sellers, purchase of the property, coordination with the main banking institutions in Spain.

• Advice on the financing of the operation.

• Support in the preparation of files to approve bank compliance requirements for the entry of foreign funds.

• Evaluation of the tax advantages of investing in a specific Autonomous Community.

Golden Visa Portugal

Residence for Investment Purposes

Foreign investor can obtain residence in Portugal, for investment purposes, through the Authorization for Investment Purposes program or Autorizaçao de Residência para fins de Investimento (ARI), commonly known as Golden Visa.

• All third country nationals (non-EU or Schengen Area citizens).

• Family members of the foreign citizen investor: spouse, minor or adult dependents (up to 26 years of age) and dependent ascendants.

It is important that applicants have no criminal record and reside in Portugal for 7 days for the first year and 14 days in the following years.

• Right of free access to the countries of the EU and the Schengen Area, without the need for a visa.

• Right to reside, work and study in Portugal together with family members.

• Maintenance of residence without obligation to stay in Portuguese territory. You must only stay for a minimum period of 7 days during the first year and then 14 days after the second year.

• Right to apply for Portuguese nationality by residence.

• Possibility to carry out the investment personally or through a company incorporated in Portugal or in another EU State and permanently based in Portugal.

• Invest in any of the options provided for in the Law: real estate, bank deposits, participation in regulated funds, shares in companies, job creation, among others.

• Not being a EU, EEA, Switzerland citizen or a family member of citizens of these countries to whom the Community regime applies.

• Legal entry into Portuguese territory.

• Health insurance recognised in Portugal for the period of residence.

• Certificate of criminal records.

• Documents accrediting compliance with the investor’s tax and social security obligations.

Since of the publication of Decree-Law 14/2021, February 12, since January 2022, the minimum investment amounts are modified. The applicant will be eligible for the following investments:




Transfer of capital


Bank deposit in Portugal

Acquisition of real estate for residential purposes


Except Lisbon, Porto and Algarve coastal area

Acquisition of real estate for housing purposes with more than 30 years for rehabilitation


Except Lisbon, Porto and Algarve coastal area

Investment in units of funds regulated in Portugal dedicated to the capitalisation of companies


Provided that the fund invests at least 60% in companies registered in Portugal, and that the maturity of such units is not less than 5 years from the date of purchase

Investment in the incorporation or capital increase in a Portuguese commercial company with the creation or maintenance of 5 permanent jobs


Maintenance for a minimum period or 3 years

Acquisition of non-housing real estate


Such as commercial premises and tourism projects

Acquisition of non-housing real estate more than 30 years old or undergoing renovation


Creation of at least 10 permanent jobs

No significant investment

Capital investment in activities in support of public or private scientific or technological investment


Investment in support for artistic production, recovery or maintenance of national cultural heritage


From January 2022 the investment in properties for habitational purposes is directed through the Golden Visa Program only to investment in areas of low population density, such as the interior of the country and in the Azores and Madeira islands, in order to promote investments in inland territories.

For this reason, from 2022, the Golden Visa Portugal program no longer applies to Oporto, Lisbon and the Algarve coastal area, and the minimum investment values set out above are increased for the remaining investments.

However, there are several areas of potential investment in Central Alentejo, Alentejo Litoral, part of Algarve (Alcoutim, Aljezur, Castro Marim, Monchique and Vila do Bispo), Baixo Alentejo, Beira Baixa, Douro, Lezíria do Tejo, Região de Coimbra and many others, according to the territorial areas benefiting from measures of the National Programme for Territorial Cohesion (PNCT), implemented in Portaria n.º 208/2017, July 13.

Online application: the initial application can be made telematically through the SEF (Serviço de Estrangeiros e Fronteiras).

In-person application: at the regional or local SEF office, in person or through the legal representative.

Validity: the initial validity will be for 1 year, extendable for successive periods of 2 years.

Processing: approximately 3 to 6 months.

Investors may also apply for the Non-Habitual Tax Regime, establishing their tax residence in Portugal.

This special regime grants a significant reduction in income tax for a period of 10 years, with a fixed rate of 20%, as well as benefits in inheritances and donations in the transfer of wealth to family members.

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