The Golden Visa program, also known as the investor visa or investor residency, which for over a decade allowed foreign nationals to obtain a special residence permit in Spain in exchange for investments, has come to an end. Now, only renewals of previously granted investor residencies are possible. During its run, Spain issued over 22,000 Golden Visas, including investor visas and visas for their family members. 93% of these were concentrated in seven key provinces: Barcelona (33%), Madrid (19%), Málaga (18%), Alicante (10%), Balearic Islands (5%), Girona (4%), and Valencia (4%). Over 85% of the total Golden Visas were granted based on real estate investments.
Legislative changes took effect on April 3, 2025: from that date, all investor visas were discontinued due to the repeal of Articles 63-67 of Law 14/2013, “On Support for Entrepreneurs and Their Internationalization,” which previously regulated the residency regime for foreigners making significant investments in the Spanish economy. Applications submitted before the changes took effect, i.e., before April 2, 2025, were all processed, and residencies were granted. Previously issued visas and residencies will remain valid until their expiration date, with the possibility of subsequent renewals in accordance with the regulations in place at the time of their initial issuance. In other words, Golden Visa holders and their family members will be able to renew their residency without issues, provided they meet all the norms and requirements established for each specific type of investor visa or residency.
For those looking to settle in Spain and seeking alternative pathways, several options are available. Let’s explore the main types of residency permits for investors and remote professionals.
Non-Lucrative Residence in Spain
The Residencia no lucrativa, a residence permit without the right to work, is an excellent option for those with sufficient financial resources to live in Spain and a stable source of remote passive income. This residency is processed through the Spanish Consulate in the applicant’s country of residence. The most important requirements are:
- Prove the stability and legality of passive income (this is not required by all Spanish Consulates).
- Demonstrate sufficient funds for the entire duration of the residence permit (the initial non-lucrative residency is granted for one year), calculated at 400% of the IPREM per month (in 2025, the IPREM minimum income indicator is set at €600 per month), i.e., a minimum of €28,800.
- Confirm the availability of housing in Spain, either owned or rented long-term. This requirement is mandatory for some Consulates and recommended for others, but in any case, owning property is an advantage for this residency.
In addition to these requirements, there are others that must also be met (e.g., no criminal record, having comprehensive medical insurance, etc.). In this article, we focus on the key conditions that allow investors and self-employed individuals to relocate to Spain for permanent residency.
Residency for Entrepreneurs (Startup Visa) and/or Highly Qualified Professionals in Spain
The aforementioned Law on Support for Entrepreneurs and Their Internationalization retains the possibility of obtaining residency for entrepreneurs (startup visa) and highly qualified professionals.
In the first case, this applies exclusively to innovative projects that create jobs and have significant social and economic impact for Spain. The law does not set specific investment thresholds, but each project and business plan must be approved by the Large Companies Office, and the entrepreneur must prove the source of funds to finance their project.
In the second case, it involves hiring foreign professionals for senior management positions in local companies, provided the applicant has the relevant qualifications and work experience.
Digital Nomad Visa in Spain
The Digital Nomad Visa allows foreign remote workers to relocate to Spain for permanent residency and obtain the corresponding residence permit. This applies to both employees working for an employer and self-employed individuals working as freelancers. Importantly, the employer or client must not be based in Spain.
The digital nomad must demonstrate an income of at least 200% of the SMI per month (in 2025, the minimum wage is set at €1,184 per month). This is an ideal option for those who want to relocate without changing their job or clients and are still undecided about where to live in Spain. The digital nomad residency is granted for 3 years and allows the inclusion of family members, including parents and adult children.
In conclusion, alternatives to the discontinued Golden Visa exist, and individuals can choose the most suitable option based on their needs.
