Goodbye Spain's Golden Visa programme
- Nigel Cooper
- Mar 18
- 3 min read
As of April 3, 2025, Spain will officially terminate its Golden Visa program, which has allowed non-EU nationals, including UK citizens, to obtain residency through significant investments, particularly in real estate. This change prompts UK nationals seeking residency in Spain to explore alternative pathways.
Understanding the Golden Visa Termination
The Golden Visa program, introduced in 2013, granted residency to non-EU investors who invested at least €500,000 in Spanish real estate or met other substantial financial criteria. The program’s discontinuation aims to address housing affordability issues and reduce speculative property investments.
Alternative Residency Options for UK Nationals
With the Golden Visa program ending, UK nationals can consider the following alternatives:
1. Non-Lucrative Visa (NLV):
Overview: The NLV permits non-EU nationals to reside in Spain without engaging in work or professional activities. It’s ideal for retirees or individuals with sufficient passive income. Requirements:
• Financial Means: Applicants must demonstrate sufficient financial resources, typically around €30,000 per year for a single applicant.
• Health Insurance: Comprehensive private health insurance without copayments is mandatory.
• Clean Criminal Record: Applicants must provide a certificate of no criminal record.
Duration: The visa is initially valid for one year and can be renewed for successive two-year periods, leading to permanent residency after five years.
2. Digital Nomad Visa:
Overview: Spain’s Digital Nomad Visa allows remote workers employed by non-Spanish companies to reside in Spain while working remotely.
Requirements:
• Remote Employment: Proof of employment with a company outside Spain or ownership of a business operating outside Spain.
• Financial Means: Applicants must demonstrate sufficient income to support themselves, with specific amounts varying.
• Health Insurance: Comprehensive health insurance coverage is required.
Duration: The visa is initially valid for up to 12 months and can be renewed, allowing residency for up to five years.
3. Standard Work Visa:
Overview: For those with a job offer from a Spanish employer, a standard work visa permits residency based on employment.
Requirements:
• Employment Contract: A valid job offer from a Spanish company.
• Qualifications: Relevant qualifications and experience for the position.
Duration: Typically aligns with the employment contract length and can be renewed.
4. Student Visa:
Overview: UK nationals intending to study in Spain can apply for a student visa, granting residency for the duration of their studies.
Requirements:
• Enrolment: Proof of acceptance into a recognised Spanish educational institution.
• Financial Means: Evidence of sufficient funds to cover living expenses.
• Health Insurance: Valid health insurance coverage.
Duration: Valid for the study period and can lead to other residency options post-graduation.
Considerations for Prospective Applicants
• Financial Planning: Ensure you meet the financial requirements for your chosen visa category.
• Application Preparation: Gather all necessary documentation, including proof of finances, health insurance, and clean criminal records.
• Professional Guidance: Consult with immigration experts or legal advisors to navigate the application process effectively.
Conclusion
The termination of Spain’s Golden Visa program necessitates that UK nationals seeking residency explore alternative avenues. Options like the Non-Lucrative Visa and Digital Nomad Visa offer viable pathways, each with specific requirements and benefits. Thorough preparation and professional consultation can facilitate a smooth transition to residing in Spain under these new frameworks.
Further Reading
Note: This information is based on the latest available data as of March 14, 5:48 PM. Legislative developments may have occurred since then.
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