The Golden Visa is a residency permit that gives the holder the right to stay and work in Spain and is particularly relevant to non EU nationals.
The main objective of the law is to attract entrepreneurs to the country, and boost investments in Spanish real estate, public debt, and job creation. Naturally the most common requirement is to make an investment of at least €500,000 in real estate, with any type of real estate qualifying (residential, commercial, vacant land, parking spaces, etc.). Additionally, the investment may consist of several smaller investments and, once the total of €500,000 has been reached you may qualify for a Golden Visa. There is no limit to the number of times that the Golden Visa can be extended (if you keep your investment). After 5 years under the Golden Visa status, you can change to a long-term resident, which means you do not have to maintain the investment to keep your resident status, and you can apply for a change of residency to another EU country.