How to Get a Spanish Golden Visa: A Complete Guide for Expat Property Investors

Spain has long attracted expat investors looking for strong returns, a Mediterranean lifestyle, and residency in the EU. One of the most strategic pathways to achieve this is through the Spanish Golden Visa program; a residency-by-investment scheme that offers access to Spain and, by extension, the European Union.

Whether you're a seasoned investor or a newcomer exploring international markets, this guide breaks down everything you need to know about acquiring a Spanish Golden Visa in 2025.

What Is the Spanish Golden Visa?

The Spanish Golden Visa is a residency permit granted to non-EU nationals who make a significant investment in Spain. Initially launched in 2013 to stimulate foreign investment in the real estate sector, the program provides investors and their immediate family with the right to live in Spain, travel freely within the Schengen Area, and eventually apply for permanent residency or citizenship.

Golden Visa Spain Requirements (2025 Update)

To qualify for the Spanish Golden Visa, you must meet the following investment threshold:

• Minimum real estate investment of €500,000 (can be one or multiple properties)

• The investment must be free of encumbrances (i.e., the first €500,000 must be mortgage-free)

• You must be over 18, have a clean criminal record, valid health insurance, and proof of sufficient financial means
  

While real estate is the most popular route, you can also qualify via:

• €1 million in Spanish company shares or bank deposits

• €2 million in Spanish government bonds

• Significant business investment that creates jobs or has economic impact
  

It's important to note the Spanish government has proposed phasing out the real estate route as of early 2025, though no official legislation has passed yet. Stay informed via reliable government resources such as La Moncloa.

Step-by-Step: How to Apply for a Spanish Golden Visa

Here’s a simplified breakdown of the process for expat investors:

1. Choose and Purchase the Property

Find a property or portfolio totalling at least €500,000. Ensure due diligence, ideally through a lawyer who specializes in Spanish property law.

2. Gather Documentation

You’ll need:

• Passport

• NIE (foreigner identification number)

• Proof of investment

• Criminal background check (from your country of residence)

• Proof of medical insurance

• Bank statements showing financial self-sufficiency

  
  

3. Submit Application

You can apply for the visa either:

• From your home country (via the Spanish consulate), or

• Within Spain (if you entered on a tourist visa)

  
  

4. Receive Initial Residency

The initial visa is valid for 1 year (or 2 years if applying from Spain). Afterward, you can renew for 5-year periods, provided the investment is maintained.

5. Apply for Permanent Residency or Citizenship

• After 5 years, you may apply for permanent residency

• After 10 years, you can apply for Spanish citizenship (with some exceptions for Latin American nationals who may qualify earlier)

  
  

Benefits of the Spanish Golden Visa for Property Investors

• No minimum stay requirement: You can maintain the visa even without residing full-time in Spain

• Schengen mobility: Travel visa-free across 26+ European countries

• Family inclusion: Spouse and children can be included in one application

• Rental income: Earn passive income by renting out your Spanish property

• Potential capital appreciation: Spain’s property market continues to grow, especially in cities like Madrid, Barcelona, Valencia, and Málaga

  
  

Spain vs. Other European Golden Visa Property Options

Country	Min. Investment	Residency Benefits	Citizenship Timeline	Notes
Spain	€500,000	No stay requirement, EU access	10 years	Strong lifestyle appeal
Portugal	€500,000 (phased out real estate in cities)	Low stay requirement (7 days/year)	5 years	New restrictions apply
Greece	€250,000 (€500K in hotspots)	No stay requirement	7 years	Lower cost, but slower returns
Italy	€250,000 (startup investment) or €500,000 (company shares)	Some tax incentives	10 years	More complex process

While Portugal has historically been a top competitor, its 2024 reforms restrict real estate investment in major cities. Greece offers lower entry points, but rising thresholds in areas like Athens and Santorini diminish its former affordability. Spain, by contrast, offers a balanced combination of lifestyle, return potential, and infrastructure.

Top Cities and Regions to Consider in Spain

• Barcelona: High rental yields, cosmopolitan market

• Madrid: Political and economic hub, stable demand

• Valencia: Coastal charm with lower entry prices

• Málaga & Costa del Sol: Booming digital nomad scene, ideal for holiday lets

• Balearic Islands: Luxury markets with tight supply
  

For expert-led property search platforms, consider browsing Idealista — Spain’s top real estate portal for both residential and commercial listings.

Final Thoughts: Is the Spanish Golden Visa Worth It in 2025?

Despite growing scrutiny from the EU and local housing activists, the Spanish Golden Visa remains one of the most robust property-linked residency programs in Europe. For expat investors, it offers a low-maintenance path to EU residency, income potential, and long-term security.

With proposed reforms looming, now may be the ideal time to act. Engage with a local property lawyer and visa advisor early to ensure your investment is compliant and protected.

Get in touch for tailored support

If you want to explore Spanish investment properties, we can help you. APW Group was founded by expats, for expats; building upon over 30 years of experience in property and fixed income investments.

Our team brings a wealth of experience of the global property market, guiding you through everything from discovering the perfect home to securing visas and navigating local laws with confidence. We have helped over 6,000 expats progress their property portfolio in cities all over the world.

Looking for your entry point into the Spanish market? Get in touch today.