Golden Visa

Golden Visa

Buy a property worth half a million euros or invest two million in public debt. The visa allows them to travel throughout the European Union.

Between 2013 and 2023, more than 14,000 such permits had been granted, mostly to citizens of China and Russia.

Less than 0.1% of the more than four million homes sold during that period were purchased under the scheme. 

Citizenship is granted without any counterpart obligation on the part of the beneficiary to actually live in the country or pay taxes.

Non-EU citizens who obtained the golden visa will keep it, even if there are changes in the legislation.

Italy: The Italian program offers a two-year residence permit (extendable to three years) in exchange for a €2 million investment in Italian government bonds, a €500,000 investment in an Italian limited company, a €250,000 investment in an innovative Italian startup or a €1 million donation to a philanthropic initiative in Italy.

It can be extended for three years and, after 10 years, will be eligible for citizenship.

32 two-year “investor” visas to Russian citizens out of a total of 36 applications, according to data provided by the Ministry of Enterprise. This is more than the number granted to investors from the United Kingdom, the United States and 23 other non-EU countries combined.

Earlier this year, Ireland abolished its Immigrant Investor Program, which offered Irish residency in exchange for a €500,000 donation or an annual investment of €1 million in the country for three years.

There are also citizens from the United Kingdom, the United States, Iran and Venezuela among those dreaming of a home in Spain.

Types of permits

• Visa: when the applicant is outside Spain, he/she will obtain a permit to, if he/she wishes, reside and work in the whole national territory. The term of duration of the permit is of 1 year, except for the acquisition of real estate by means of a deposit contract, which is of 6 months. Once the year has elapsed, a residence permit must be requested. Once the earnest money contract has been formalized, the visa or residence authorization must be requested.
• Residence authorization: when the applicant is legally in Spain, he/she will obtain a 3-year permit to reside and work in the whole national territory, if he/she wishes to do so. This permit will have to be renewed every 3 years.