Under the current ‘Golden Visa’ regulations, those who invest €500,000 or more in land or residential or commercial property would be able to live legally in Spain for two years, with the option of renewal every two years.
The ‘Golden Visa’ was approved by the Spanish Senate the Project of Law (Apoyo a los emprendedores y su internacionalización) without changes, excepting the date to enter into force that will be in general the day of its official publication.
Hopefully it will have the approval and be entered into force within next few weeks.”
Spain’s ‘Golden Visa’ applicants can buy several properties of different kinds to meet the €500,000 qualifying level.
The Golden Visa was originally planned to be aimed at Russian and Chinese investors, although it is open to all non-European Union nationals.
After five years of continuous residence, applicants can apply for an unlimited residence permit and after 10 years of residence, they can apply for Spanish nationality.
There is no requirement that any property has a specific use, which means ‘Golden Visa’ properties can be used for total or partial leasing or for business activities.