Time is of the essence for investors considering Spanish residency through property investment. Following the Congress of Deputies' approval to end the program in November 2024, investors have a final opportunity to secure Spanish residency through property investment before the Senate confirms the legislation. For non-EU citizens seeking to combine the Mediterranean lifestyle with strategic investment, the countdown has begun.
Understanding the Golden Visa
The Golden Visa program, introduced in Spain in 2013, was designed to attract foreign investment and boost the country's economy. It has also been attractive to investors seeking both a secure investment opportunity and the benefits of Spanish residency, including access to the Schengen area. The program granted successful applicants a 3-year residency permit, with the possibility of renewal.
To qualify, investors must either:
- Purchase property worth €500,000 or more
- Invest €2 million in Spanish government bonds
- Invest €1 million in Spanish companies
The visa grants holders and their family members:
- Spanish residency for 3 years (renewable)
- Freedom to travel within the Schengen area
- Path to permanent residency after 5 years
- No requirement to live in Spain full-time
Legislative changes
In November 2024, Spain's Congress of Deputies approved a bill to terminate the Golden Visa program. The legislation is now awaiting Senate approval - the final step before implementation. This move mirrors Portugal's 2023 decision to end its own Golden Visa scheme after more than a decade of operation.
📍 Marbella Club Golf Resort
Impact of the Golden Visa program
Recent statistics reveal the program's significant impact:
- 14,576 Golden Visas granted since 2013
- 3,273 visas approved in 2023 alone
- 424 visas issued in February 2024 alone
- Main beneficiaries from China, Russia, the UK, the US, Ukraine, Iran, Venezuela and Mexico.
Why is it ending?
Housing Minister Isabel Rodríguez has explained that the decision aims to "ensure that housing is a right and not just a speculative business." The government's move follows similar steps taken by other European countries to address housing market pressures.
📍 Marbella Club Golf
Current investment options
Until the final approval by the Senate, the program remains accessible through various investment routes:
- €500,000 minimum investment in real estate
- €1 million in Spanish company shares or investment funds
- €2 million investment in government bonds
- Establishing or acquiring businesses that create jobs or contribute to the advancement of science and technology
Strategic approach for investors
For those interested in securing residency before the program ends:
- Fast-track option: Invest in our ready-to-purchase units
- Strategic investment: Place a €1 million bank deposit while finalising your preferred property choice
- Combined approach: Purchase an apartment while considering larger villa options.
📍 View of the Marbella Club Golf Resort and La Concha mountain
Alternative pathways to Spanish residency
For non-EU citizens looking to establish themselves in Spain, several attractive visa options remain available:
Non-Lucrative Visa (NLV)
- For those with sufficient passive income
- Requires proof of financial means
- An initial period of one year, renewable
- Perfect for retirees or passive income earners
- Cannot engage in work activities in Spain
Entrepreneur Visa
- For business founders and innovators
- Requires a viable business plan
- Must create employment opportunities
- Access to Spain's startup ecosystem
- An initial period of two years, renewable
Highly Qualified Professional Visa
- For specialists and executives
- Must have a job offer from a Spanish company
- Fast-track processing available
- Competitive salary requirements
- Family members can be included
Digital Nomad Visa
- For remote workers and freelancers
- Employment mainly with non-Spanish companies
- Minimum income requirements apply
- The initial validity of 12 months, extendable
- Access to Spain's favourable tax regime
Student Visa
- For enrolled students
- Allows part-time work
- Can be converted to a work permit
- Initial duration matches course length
- Pathway to Long-term Residency
Each of these visas has specific requirements and advantages. That makes them suitable alternatives depending on your personal circumstances and goals. While different from Golden Visa's investment focus, they offer viable paths to enjoying Spain's lifestyle and business opportunities.
Contact our team to explore our available units and take advantage of the still existing Golden Visa program.
Note: This information is current as of January 2024. For the most up-to-date details about the Golden Visa program and application requirements, we recommend consulting with legal professionals.
Our development is located within the prestigious Marbella Club Golf Resort, and it showcases the market's versatility, from elegant penthouses with sweeping course views to spacious villas designed for family living.
- Phase 1: Already completed and delivered
- Phase 2: Currently under construction:
- penthouses (3-4 bedroom),
- first-floor apartments (2-3 bedrooms), and
- duplex garden apartments (3-4 bedrooms)
- Phases 3 and 4: In the pipeline:
- 4 standalone villas (5 bedroom), and
- 6 semi-detached villas (5 bedroom).
Find out more about the real estate market on the coast in our previous publications:
- Market Insights: Understanding the golf property investment advantage
- Market Insights: "Marbella Property Market 2024" report by Panorama – Key takeaways
- Market Insights:Off-plan as an investment strategy at Marbella Club Hills
