Golden Visa Spain: Minimum Investment, Requirements and Process in 2026

Spain's investor residence permit — commonly known as the Golden Visa — allows non-EU citizens to obtain residency in exchange for a significant investment. The most widely used route has historically been the purchase of property worth €500,000 or more. In 2026, the programme remains operational, though it is surrounded by ongoing political debate about its future.

Current status of the programme in 2026

The Spanish government has announced on several occasions its intention to abolish the Golden Visa in its real estate modality, arguing that it puts additional pressure on already strained housing markets. However, at the time of writing this article, the programme remains in force.

The recommendation for anyone considering this route is to work with the most current legal advice available, as the rules could change in the coming months.

What the Spanish Golden Visa actually is

Spain's Golden Visa is governed by Law 14/2013 on Entrepreneurship Support. It grants a residency authorisation — not simply a visa — that permits you to:

• Live and work in Spain
• Travel freely across the Schengen Area
• Include close family members (spouse, minor children, dependent parents)
• Renew indefinitely as long as the investment is maintained

Unlike most other residence permits, it requires no minimum stay in Spain to maintain or renew residency. This makes it particularly attractive for those who want a European base without committing to living permanently in Spain.

Investment modalities

Real estate investment (€500,000)

The most popular route. Purchase of one or more properties in Spain (not exclusively in Madrid) with a total value of at least €500,000 free of mortgage. If there is a mortgage, the €500,000 must be funded with own equity.

Properties can be residential or non-residential (commercial, retail, parking spaces). Multiple properties can be combined to reach the threshold.

Spanish capital investment (€1,000,000)

• Bank deposit in a Spanish financial institution: €1,000,000
• Investment in shares or stakes in Spanish companies: €1,000,000
• Investment in Spanish-domiciled investment or venture capital funds: €1,000,000

Spanish government bonds (€2,000,000)

Purchase of Spanish public debt securities worth at least €2,000,000.

Business project of general interest

No specific minimum amount, but must generate skilled employment, have meaningful socioeconomic impact, or be of scientific or technological interest. This is the hardest route to process due to the subjective assessment involved.

Personal eligibility requirements

Regardless of the investment modality chosen, the applicant must:

• Be over 18
• Have no criminal record in Spain or in any country of residence in the past 5 years
• Not be subject to an expulsion order from Spain
• Hold private health insurance with full coverage in Spain
• Demonstrate sufficient financial means for themselves and their family
• Not be in an irregular immigration situation in Spain

Application process

From abroad (visa application)

If the applicant is outside Spain when starting the process, they apply at the Spanish consulate in their country of residence. They receive an investor visa valid for one year, which allows entry into Spain to then apply for the residence authorisation.

From within Spain (if already legally present)

If the applicant is in Spain on a valid visa, they can apply directly for the investor residence authorisation at the Unit for Large Companies and Strategic Groups (UGE-CE) of the Ministry of Inclusion.

The processing deadline is 20 working days — one of the fastest in the Spanish immigration system, compared to the 3-month standard for most other permits.

Documentation for the real estate route

• Valid passport
• Apostilled criminal background certificate
• Private health insurance covering Spain
• Proof of financial means
• Title deed or land registry extract proving ownership of the property
• Valuation or registry report confirming the value
• Declaration that the investment exceeds €500,000 free of encumbrances

Renewal and the path to permanent residency

The initial authorisation lasts 2 years if processed from Spain, or 1 year (visa) if processed from abroad. Renewal is for 5 further years, as long as the investment is maintained.

The path to permanent residency:

• With the Golden Visa, you are not required to reside in Spain, but to obtain permanent residency (after 5 years of legal residency) you must demonstrate continuous presence in Spain (with justified exceptions).
• Spanish citizenship requires 10 years of continuous legal residency plus other requirements.

What investors look for in Madrid

Madrid concentrates the largest share of Golden Visa real estate applications in Spain. The most sought-after areas by international investors are:

• Salamanca and Jerónimos: purchases between €700,000 and €3,000,000 in luxury flats.
• La Moraleja and Alcobendas: high-end houses with international schools nearby. More in our guide on La Moraleja for international families.
• Chamberí and Almagro: refurbished historic flats with strong investment fundamentals.
• Historic centre: unique properties for personal use or short-let investment.

Price per square metre in Madrid in these areas ranges from €5,500 to €10,000/m², meaning the €500,000 threshold corresponds to moderately sized flats in the most expensive zones.

Comparison with other residency options

The Golden Visa is not the only path to residency in Spain. Depending on your profile, other options may be more suitable:

• Non-lucrative visa: for those with sufficient passive income but no need to invest €500,000. Far less capital required, but involves minimum presence requirements.
• Digital nomad visa: for remote workers with foreign employment contracts.
• Self-employment / entrepreneurship visa: for those planning to create a company or carry out professional activity in Spain.

The Golden Visa makes most sense when the investor already wants to diversify their wealth with a Madrid asset and sees European residency as added value rather than the primary objective.

If you are exploring the Golden Visa and want to understand how it fits into a full installation process in Madrid, Aedara coordinates both the real estate side and the administrative process with immigration law specialists.

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References:

• Law 14/2013 of 27 September on Entrepreneurship Support and Internationalisation.
• Royal Decree 557/2011 — Immigration Regulation (articles on investor residency).
• Ministry of Inclusion — UGE-CE: Golden Visa processing.