Italy vs Spain Golden Visa

Italy and Spain both offer European residency through investment, but they differ in key ways. The Italy Golden Visa provides temporary residence through investments in government bonds, startups, or other assets, leading to permanent residency and citizenship after 10 years. Spain’s Golden Visa grants temporary residence through real estate investment or financial assets, leading to permanent residency.

The Spain Golden Visa program ended on April 3, 2025, but alternative visas remain available. This article will explore Italy vs Spain Golden Visa investment programs, their key benefits, investment options, and long-term residency pathways.

You will learn:

• Main Differences Between the Italy and Spain Golden Visa Programs
• Minimum Investment Requirements
• Differences in Tax Implications
• Which Golden Visa is Better

What is the Spain Golden Visa?

The Spain Golden Visa program allows non-EU nationals can get residency in Spain by making sizable investments, such as buying at least €500,000 worth of real estate or investing €1 million in Spanish enterprises. It allows the investor and their close relatives to live there.

However, interested applicants must note that the program expires as of April 3, 2025.

What is the Italy Golden Visa?

The Italy Golden Visa program grants residency to non-EU investors who commit funds to the country’s economy.

Qualifying investments include government bonds (€2 million), innovative startups (€250,000), Italian listed or unlisted companies (€500,000), or €1,000,000 donation with philanthropic purposes.

The visa is valid for two years, renewable in increments, and may lead to permanent residency after five years and citizenship after ten.

Differences Between the Italy and Spain Golden Visa Programs

Application Costs: Italy vs. Spain

Processing Time & Procedures

• Italy: Pre-approval required, process takes 3–6 months.
• Spain: Faster approval, typically 1–2 months.

Renewability & Family Inclusion

• Italy: Renewable every 3 years.
• Spain: Initial 3-year permit, then renewable every 5 years.
• Both: Include spouses and dependents; Spain has more flexible parent inclusion.

Which Golden Visa Offers a Faster Route to Citizenship?

• Italy: Residency via investment, citizenship after 10 years.
• Spain: Permanent residency after 5 years, citizenship after 10 years (sooner for some nationalities).

Stay Requirements: Italy vs. Spain

Minimum Investment Requirements for the Italy and Spain Golden Visas

Differences in Tax Implications for Golden Visa Holders in Italy and Spain

Italy

• Tax Residency: Individuals spending more than 183 days in Italy per year are considered tax residents.
• Flat Tax Regime: Italy flat tax is offered to new residents, allowing them to pay a fixed annual tax of €200,000 on foreign-sourced income (with some exceptions). This regime can be extended to family members for an additional €25,000 per person and is applicable for up to 15 years.
• Local Income Taxation: Income generated within Italy is subject to progressive tax rates ranging from 23% to 43%, plus regional and municipal taxes.

Spain

• Tax Residency: Individuals residing in Spain for more than 183 days in a calendar year are deemed tax residents and are taxed on their worldwide income.
• Non-Resident Taxation: Non-residents are taxed at a flat rate of 24% on income earned from Spanish sources.

Wealth and Inheritance Tax Differences

• Spain: Wealth tax rates vary by region, and inheritance tax can be significant, depending on the location and relationship between heirs.
• Italy: Offers more favourable tax treatment on wealth and inheritance, with lower taxation compared to Spain.

Which Golden Visa is Better?

Choose Italy if you prefer:

• A wider range of investment options, including startups and government bonds.
• A flat tax regime (€200,000) on foreign income for tax efficiency.
• A long-term pathway to citizenship (10 years) with fewer restrictions on dual citizenship.

Choose Spain if you prefer:

• A faster route to permanent residency (5 years) with a straightforward real estate investment.
• A larger expat community and better access to international schools. o High-quality public healthcare and a lower cost of living.

Final Verdict: Spain is better for those looking for real estate investment and quicker permanent residency, while Italy offers more investment flexibility and favorable tax benefits for high-net-worth individuals.

How Can Global Citizen Solutions Help You?

Global Citizen Solutions is a boutique investment migration consultancy firm focused on finding the right residency or citizenship by investment program for individuals wishing to secure their future and become global citizens. With offices in Portugal, the United Kingdom, Hong Kong, and Brazil, our multilingual team guides individuals and families from start to finish, providing expert advice considering freedom, mobility, taxation, and security.

• We have helped hundreds of clients from 35+ countries in all the top residency by investment and citizenship by investment programs. With an in-depth and comprehensive understanding of the area, we provide our clients with solid guidance. 
• Our team has never had a case rejected. Our 100 percent approval rate sets us apart from our competitors and guarantees that you can expect a successful application.
• Our transparent pricing covers all the processes from opening your bank account, document certification, and legal due diligence to investment and submission. As there is one fee for the entire process, you can be confident that you will not face any hidden costs later.
• All data is stored within a GDPR-compliant database on a secure SSL-encrypted server. You can be safe knowing that your personal data is treated with the utmost security.
• Global Citizen Solutions provides an all-encompassing solution. Our support can continue even after you receive your passport. We offer additional services such as company incorporation, Trusts, and Foundations formation.
• The BeGlobal Onboarding System® allows you to access the status of your application every step of the way, something that sets us apart from our competitors.

Frequently Asked Questions about Italy vs Spain Golden Visa

Can I get permanent residency with the Italy or Spain Golden Visa?

Yes, both countries allow for permanent residency after 5 years if the visa holder lives there at least 183 days per year.

Which Golden Visa has lower taxes: Italy or Spain?

Italy offers a €200,000 flat tax regime on foreign income, while Spain taxes worldwide income progressively.

Is the Italy Golden Visa or Spain Golden Visa better for families?

Spain has more inclusive family policies, allowing parents, while Italy focuses on direct dependents.

Which Golden Visa has better visa-free travel benefits?

Both provide Schengen Zone access, but neither offers a direct “golden passport.”

Can I work in Italy or Spain with a Golden Visa?

Yes, both allow employment and business activities.

Which country has better expat communities for Golden Visa holders?

Spain has larger expat hubs in Madrid, Barcelona, and Valencia.

What happens if I sell my investment in Italy or Spain after getting the Golden Visa?

Selling before obtaining permanent residency may lead to visa revocation.

Has the Spain Golden Visa been discontinued or changed recently?

Spain’s Golden Visa will expire on April 3, 2025, but alternative visas, such as the Non-Lucrative Visa Spain program, remain available.

Can I rent out my real estate investment for the Italy and Spain Golden Visas?

Yes, rental income is allowed in both countries.

Should I pass a language test for permanent residency in Italy or Spain?

For Italy there is a test for permanent residency, and Spain requires a language test for citizenship.

Which country has better education options for Golden Visa families?

Both offer international schools, but Spain has more English-speaking institutions.