Looking for a Plan B in Europe in 2023? Spain’s Golden Visa Program gives non-EEA nationals, including South Africans, the ability to obtain residency by investment in Spain with ease. While the minimum required capital commitment for the program is €500,000 (any type of real estate), there is also a proprietary commercial property option that pays 10 years’ yield, at 3% per year, up-front.

This reduces the effective capital outlay required to just €350,000.

Find out more about the various program options for 2023 and how to apply for the Spain Golden Visa below, or contact us now for a free consultation.

The Spain Golden Visa Program at a glance

Situated in Southern Europe, Spain is an internationally sought after travel destination offering residents an enviable lifestyle. The Spanish Golden Visa program has proved ever popular among third country nationals from across the globe. The program has had one of its best years since inception in 2018, and is now widely considered to be one of the top Golden Visa countries in the EU.

The program is reported to have raised over €3 billion in investment since inception.

In addition to the lifestyle perks, obtaining Spanish residency through investment has many strategic benefits:

Freedom of Movement: Spanish residency rights gives you the ability to live, study and travel across 26 Schengen States at will, visa free. 

A Growing Investment: The Spanish property market has been recovering well in recent years, in part due to the success of the Spanish Golden Visa scheme. On average, property prices increased by over 10% during 2018, according to the General Council of Spanish Public Notaries.

The average property investment being made is in excess of €700,000, with Barcelona, The Costa Blanca and Costa del Sol areas proving extremely popular with foreign visitors and investors alike. In locations such as Alicante, contemporary villas with pools can be found from around €550,000. In Barcelona, however, that kind of budget is more likely to buy you an apartment. 

Viable Plan B: The ability to include family members, combined with the ability to obtain a growing real estate investment and do business remotely with South Africa, makes Spain an attractive Golden Visa host country for SA passport holders. Great air route connectivity between cities like Madrid and Barcelona, and Cape Town and Johannesburg, respectively, makes regular business commuting very sustainable as well.

Gateway To Europe: Europe and the world does business in Barcelona, so if you’re seeking to expand your commercial footprint into southern and central Europe, the city is an excellent choice in which to establish your headquarters.

Lifestyle Compatibility: South Africans thrive in Spain – given the country’s excellent cuisine, stunning scenery, air quality, world class beaches and vibrant culture, it is an easy place to feel at home in.

NOTE: If you’re intend on settling in Spain for at least 6 months per year, be sure to also check out the Spanish Non-Lucrative Residency Visa program.