A Guide to Spain’s Golden Visa for Filipinos Looking to Migrate
COVID brought about many Filipinos moving to Spain on a golden visa. Because governments only allowed their citizens and permanent residents to travel to their countries during COVID, many Filipinos realized the restriction of just holding a Philippine passport with no other alternative option.
The Spanish golden visa became an opportunity for Filipinos to quickly migrate to Spain on a residence visa. For Filipinos like us, after 2 years of legally residing in Spain, we already become eligible to apply for Spanish citizenship, unlike other countries which require 10 years of permanent residence.
What is Spain’s Golden Visa?
Spain’s golden visa allows non-EU investors to gain temporary residency by investing in Spanish property, stocks, or government bonds. With a golden visa, you can live and work in Spain and travel freely within the Schengen area.
The minimum investment is only €500,000 in real estate or €1 million in stocks or government bonds. While it seems costly, it’s much lower than similar programs in other European countries. Plus, investing in real estate in cities such as Madrid provides good appreciation value because new construction is limited and new buildings usually have height restrictions which limits supply.
It’s an attractive scheme that offers visa-free access to the EU, quality of life in Spain, and a pathway to permanent residency and citizenship.
Benefits for Filipino Applicants
For Filipinos seeking to migrate, Spain’s golden visa program offers many unique benefits:
- Visa-free access to 26 Schengen countries
- No requirement to live in Spain – only need to visit once every 6 months – but requires residing in Spain for 183 days in a year for 2 consecutive years to be able to apply for citizenship
- Allows you and your children to live and work in Spain
- Spouse and dependent children can be included
- Access to high-quality healthcare and education systems in Spain
- Freedom to study, work or retire with minimal restrictions
- Possibility to apply for Spanish citizenship after 2 years
With a Spanish golden visa, you can take advantage of the high standard of living in Spain while still maintaining ties to the Philippines.
Application Process for Filipinos
The application process for the Spanish golden visa is straightforward and can be completed in as little as 3-4 months with proper guidance. Here are the steps:
- Choose your investment option – real estate valued at €500,000 or €1 million in stocks or bonds. Work with your lawyer to identify suitable investments.
- Gather required documents – passport, police clearance, medical certificate, proof of funds, and investment documents. Get documents translated and notarized.
- Submit golden visa application to the Spanish consulate in Manila. Work with your lawyer to ensure a smooth application.
- Attend biometrics appointment in Manila and undergo medical checks.
- Wait for approval – the process takes approx. 90 days. Check application status regularly.
- Once approved, you’ll be issued your initial 1-year golden visa. Now you can move to Spain!
As your Philippine immigration advisor, I can support you through every step of the application from start to finish. My team will handle document collection, appointments, translations and submission on your behalf.
Is Spain’s Golden Visa Right for You?
Spain’s golden visa program offers an excellent opportunity for Filipinos looking to migrate abroad permanently. The reasonable investment, visa-free EU access, and pathway to citizenship make it very attractive.
However, it’s not for everyone. You should consider factors like your ability to finance the investment in cash. Should you need more information, you can sign up for my free ebook or send me a message at kpborra@borralaw.com to schedule a consultation.