The end of the Golden Visa in Spain: Alternatives for international investors

Since its implementation in 2013, the Golden Visa in Spain has been an attractive mechanism for foreign investors interested in obtaining residency in Spain through the purchase of high-value properties. However, the recent announcement of its elimination has generated uncertainty in the real estate sector and among those who saw this program as a gateway to Europe.

While the Golden Visa in Spain has been key in attracting foreign capital, its disappearance does not imply the end of investment opportunities in Spain. There are viable alternatives that allow investors to continue enjoying the benefits of residing in this country.

In this article, we explore the changes in regulations and the options available for those seeking to establish themselves in Spain through investment.

Why is the Golden Visa in Spain supposedly being eliminated?

The current Government's decision to eliminate the Golden Visa in Spain responds to various factors that, according to them, correspond to the following:

1. Impact on the real estate market: In some strategic areas of Spain, the increase in foreign investment has contributed to the rise in housing prices, making it difficult for the local population to afford to buy homes.
2. Housing access policy: Measures are being prioritized to facilitate housing access for residents and nationals, regulating foreign investment in strategic sectors.
3. Harmonization with European regulations: Other EU countries have reviewed or eliminated their residency by investment programs, promoting more restrictive migration policies.

Despite these changes, Spain remains a privileged destination for investors and professionals who wish to live in a safe environment with excellent quality of life and business opportunities.

Alternatives to the Golden Visa for investors in Spain

While the Golden Visa will no longer be available, there are other options to obtain residency in Spain through investment or professional activity:

1. Non-Lucrative Residence Visa

This visa is aimed at individuals with sufficient economical means to reside in Spain without the need to work. Key requirements:

• Demonstrate sufficient economic solvency (approximately €28,800 annually for the main applicant, with an increase for each additional family member).
• Private health insurance with coverage in Spain.
• Not engage in work activities in the country.

It is an ideal option for investors with passive income or sufficient assets who wish to enjoy the quality of life in Spain.

2. Visa for Entrepreneurs and Investors

Spain promotes foreign investment through the entrepreneur visa. It is granted to those who:

• Present an innovative business project with a positive economic impact on the country.
• Demonstrate investment capacity and job creation.
• Obtain a favorable report from the General Directorate of International Trade and Investments.

This alternative is perfect for those looking to establish a company in Spain and actively contribute to economic development.

3. Digital Nomad Visa

Designed for professionals who work remotely for foreign companies. It allows residing in Spain while continuing professional activities without the need for a contract in the country. Main requirements:

• Accredit remote work activity with a company outside Spain.
• Demonstrate stable minimum income (approximately €31,752 annually for the main applicant).
• Medical insurance and proof of residence in Spain.

It is an ideal option for tech investors, consultants, and professionals with stable incomes who wish to enjoy the Spanish lifestyle.

4. Residence through an Alternative Investment

Although the Golden Visa may disappear, it is still possible to obtain residency through investment using alternative strategies:

• Establishment of companies or investments in strategic sectors. Spain continues to facilitate the entry of investors who bet on key sectors such as innovation, technology, or renewable energies.
• Acquisition of financial assets. There are programs that allow obtaining residency if certain requirements are met in stock investments or strategic funds.

Spain: Key Destination for Investors

Despite the elimination of the Golden Visa, Spain continues to offer multiple options for investors seeking to establish themselves in the country. Depending on their needs and objectives, there are non-lucrative residence visas, visas for entrepreneurs, digital nomads, and investment opportunities in strategic sectors.

At Atipika, we have a wide range of exclusive properties for investors looking for opportunities in the luxury real estate market in Spain. Our team of experts will advise you on the best options available for your profile and objectives.

Contact us today here to discover how we can help you find your next investment in Spain.