The Act established a flexible system of concession of visas and residency for foreign investors, entrepreneurs, and highly-qualified workers. An investment of €500,000 in Real Estate will gain your family a residency permit.
The Spanish investor visa can be renewed every 2 years. After 5 years of investors residency it is possible to gain permanent residency, and after 10 years receive the Spanish passport. It is not necessary to live in Spain to retain or renew your residency permit.
The advantages of the Golden Visa programme are the possibility to apply for your residency in Spain without leaving the country and the possibility to travel anywhere in the Schengen area.