Migration Options in Spain After the Withdrawal of the Golden Visa

In January, the Organic Law 1/2025 was approved, introducing efficiency measures for the Public Justice Service and eliminating the Golden Visa program in Spain. The so-called Efficiency Law, which comes into force on April 3, 2025, removes the content of Articles 63 to 67 of Law 14/2013 on support for entrepreneurs and their internationalization, which regulated the investor residence visa (also known as the Golden Visa).

Specifically, the Entrepreneurs Law allowed non-resident foreigners to apply for a stay or residence visa if they made a significant capital investment. Investors who submitted their application before the Efficiency Law came into force will be able to obtain the Golden Visa under the regulations in effect at the time of their application. Similarly, visas and permits valid at the time the law comes into force will remain valid for the period they were granted. But with the Golden Visa now withdrawn, what migration options are available in Spain?

 

 

Limited Renewal of the Golden Visa

After the withdrawal of the Golden Visa, only investors who have acquired real estate in Spain with a minimum investment of €500,000 without financing will be able to renew their permit. What requirements must be met for renewal?

Renewal Conditions

• Maintain ownership of the acquired properties.
• Continue meeting the minimum residence requirements (staying in Spain for at least one day per year).
• Have private health insurance and demonstrate financial solvency to support themselves in Spain.

Limitations

Investors who obtained the Golden Visa through investments in government bonds, stocks, bank deposits, or investment funds WILL NOT be able to renew it. No new permits are expected to be granted under this program.

 

Switching to Another Residence Regime

Both those who cannot renew the Golden Visa and new applicants seeking residency in Spain can explore other residence options. The following alternatives exist:

Non-Lucrative Residency

The requirements are:

• Demonstrate sufficient financial means: The applicant must prove they have enough financial resources to support themselves in the country without needing to work. This amount is approximately €2,400 per month for the main applicant. If traveling with family members, an additional 100% of the IPREM per family member must be added, which amounts to about €600 extra per month per dependent.
• Obtain private health insurance in Spain: Since non-lucrative residency does not grant access to public healthcare in Spain, it is mandatory to purchase private health insurance with full coverage in the country.
• Not engage in work activities in Spain: This visa does not allow the holder to work in Spain, either as an employee or self-employed. If the individual wishes to work in the future, they can request a change of authorization.

Learn the key aspects you need to consider here: Requirements for obtaining the Non-Lucrative Visa in Spain.

Employment-Based Residency

Designed for foreigners who have received a job offer in Spain and wish to live and work legally in the country. To obtain it, certain requirements must be met:

• A job offer in Spain with a full-time contract: The first step to applying for employment-based residency is having a formal job offer in Spain.
• The offer must be for an in-demand or highly qualified position: such as executives, engineers, technology specialists, doctors, among others. The company must also justify the need to hire a foreign worker.
• Initial residence and work permit application: The process of obtaining residency involves several administrative steps.

Discover the key aspects of the employment-based residence and work permit.

Self-Employed Residency

For foreigners who wish to start a business or work as freelancers in Spain. To obtain it, certain requirements must be met:

• Present a viable business plan: It is necessary to prove that the proposed activity is profitable and sustainable. This requires submitting a detailed business plan that includes a project description, target market, initial investment, financing strategy, and projected income and expenses.
• Demonstrate financial capacity for the initial investment: The applicant must prove they have sufficient financial resources to launch the business. This may include personal savings, loans, or investments.
• Register with Social Security and Tax Authorities as a freelancer: Once approved, the foreigner must register as a freelancer with the Tax Agency (Hacienda) and Social Security. They must also comply with the tax and accounting obligations related to their economic activity.

Residency as a Family Member of an EU Citizen

Applicable to foreigners who have a direct link to a citizen of the European Union, European Economic Area (EEA), or Switzerland and wish to reside in Spain with their EU family member. To obtain it, certain requirements must be met:

• Direct relationship with an EU citizen: Spouses, registered partners, children under 21 or dependent children, and dependent ascendants of the EU citizen may apply. Documentation proving the relationship, such as a marriage certificate, registered partnership document, or birth certificates, must be provided.

If you need guidance on your Golden Visa-related procedures, contact our Talent and Mobility team.

📩 If you want to explore your best migration option in Spain, contact us for a personalized analysis of your case. At Adlanter, we are here to assist you.