Moving to Spain without the Golden Visa: What you need to know
For non-European citizens looking to buy a home and relocate to Spain, the recent repeal of the Golden Visa program has changed the landscape.
The Golden Visa, allowed non-EU citizens to gain full-time residency in Spain through a €500,000+ property investment. However, this month (January 2025), Spain repealed the Golden Visa scenario which has left many property investors wondering if they have missed out.
If you are concerned you have missed out on the dream of relocating to Spain, don’t stress. There are alternatives and at Malaga Property Finder, we can help you decide on which visa is best for you.
The Non-Lucrative Visa (NLV)
The Non-Lucrative Visa is now the primary route if you want to buy a home in Spain and move here permanently or live here for more than 90 days a year, without working.
It’s ideal for retirees or anyone with a steady income from outside Spain. Here’s what you need to know:
- Financial Requirements: You must prove an annual income of approximately €28,800 for an individual or €36,000 for a couple. This income can take the form of pensions, investments, or savings.
- Health Insurance: You will need to take out private health insurance to cover you in Spain, unless you qualify for state healthcare via an S1 certificate.
- Restrictions: The NLV prohibits any work or business activity in Spain. Your income must originate from outside the country.
Duration: The Non-Lucrative Visa is initially valid for one year. After which, you will need to renew it every two years. After five years of continuous residency, permanent residency becomes an option.
Alternative Spanish residency visa options
If the Non-Lucrative Visa isn’t the right fit for you, let’s check out these alternative visa options:
- Digital Nomad Visa: This visa is designed for remote workers employed by companies outside of Spain. As an applicant you must prove a monthly income of at least €3,280.
- Work Visa: If you are moving to Spain and have an employment contract from a Spanish company, you can apply for a Work Visa. However, the position must typically align with Spain’s shortage occupation list.
Entrepreneur Visa: This option is ideal if you are launching an innovative business in Spain. You will need to supply a detailed business plan and financial backing to apply for the Entrepreneur Visa.
Buying a home in Spain
Owning property in Spain doesn’t automatically grant residency, but it does strengthen your visa application by proving you have accommodation arrangements and are financially stable.
If you are planning to move soon or looking for a long-term investment, don’t let the Golden Visa repeal change your mind. There are options!
Understanding the different visa scenarios is now key to making your Spanish property purchase a reality and our team is here to help.
Let the Malaga Property Finder Team help you get started
At Malaga Property Finder, our team is on hand to simplify the process. We have a dedicated visa expert who can answer all your questions and guide you through the necessary steps.
Contact us today to learn more about how we can help you buy a home in Spain and apply for a visa with confidence. Booking a free no-obligation consultation will bring you one step closer to your new life in Spain.