The Spanish Golden Visa program allows Israelis who are not citizens of the European Union to obtain a residence permit in Spain in exchange for a significant investment in the country. The program was first introduced at the height of the economic crisis in 2013 and became very popular, with over 100,000 investors from all over the world receiving gold visas so far. But, the Spaniards are starting to make noises that the celebration is going to end, so for all those who are undecided, we recommend that you delve deeper into this article.
The ways to get a gold visa:
Before we tell you what rights a gold visa gives in Spain, we will talk about several ways in which it can be obtained:
Investment of 500,000 euros in real estate: This is the most popular option. Investors can purchase any type of real estate in Spain, as long as their investment is at least 500,000 euros.
Investment of one million euros in Spanish government bonds: Investors must purchase government bonds with a maturity of at least five years.
Creation of at least 10 jobs in Spain: This option is available to investors who will open companies and create at least 10 jobs in Spain. The jobs must be full and permanent jobs.
Investment of 2 million euros in research and development in Spain: This option is available to investors who invest 2 million euros in Spanish research and development projects.
The rights granted by a Spain gold visa and its validity:
After an investor has obtained a gold visa, he is entitled to stay indefinitely, live, work and study in Spain as a regular citizen. He can bring his first-immediate family members to Spain. The golden visa is valid for 5 years and can be renewed indefinitely.
The expected changes in the golden visa program in Spain (as of September 2023)
The golden visa program in Spain has been criticized due to the fact that it has become a way for rich foreigners to bypass money laundering and immigration rules and move to Spain. However, the Spanish government claims that the program brings economic benefits to the country, such as creating jobs and stimulating investment. Nevertheless, following the audit, the Spanish government is now considering changes to the Golden Visa program, including increasing the minimum investment amount and limiting the types of eligible investments. However, the final decision regarding the future of the program has not yet been made.
The changes that the Spanish government is considering making by virtue of receiving a gold visa to Spain:
Doubling the minimum investment amount: The current minimum investment amount for the Golden Visa program is €500,000 for real estate and €1 million for shares. However, the Spanish government is considering doubling the minimum investment amount for both real estate And they are in shares for a million euros. This is one of the most significant changes that the government is considering as part of the updated regulation for the golden visa program.
Limiting the real estate investment areas that qualify for the golden visa. For example, the government can only allow investments in real estate located in certain areas of Spain. Probably less in the demand areas of Barcelona and Madrid.
Increasing vetting of Golden Visa applicants. This could include requiring applicants to provide additional information about their financial background and criminal history. That is, digging deeper into the applicant's background and making a selection based on other aspects that are not just investment.
Requiring investors to live in Spain for a certain period of time: That is, requiring those who have invested and received a gold visa to move and live in Spain for minimum periods that will be defined in advance.
The Spanish government is expected to make a decision regarding the future of the golden visa program in the coming months. We will continue and update.