What Non-EU Buyers Need to Know and Alternative Residency Solutions

The Spanish Golden Visa program, a favored route for non-EU investors seeking residency in Spain, is officially coming to an end. April 3, 2025, marks the final deadline for submitting applications, bringing a close to a program that has granted thousands of foreign buyers the opportunity to live, work, and invest in Spain. While this change may seem concerning for many, there are still several viable pathways for non-EU citizens to establish residency in Spain, especially for retirees, families, and individuals who do not require a work visa.

Why is the Golden Visa Ending?

The decision to abolish the Golden Visa stems from concerns over housing affordability and market speculation. The Spanish government, under Prime Minister Pedro Sánchez, has emphasized the need to prioritize housing as a right rather than an investment tool. While the program significantly contributed to Spain’s economy, it has also been linked to rising property prices in key urban areas, pushing the government to take action.

The law officially abolishing the program was published on January 3, 2025, in Spain’s Official State Gazette (BOE), with the termination taking full effect three months later. This means that investors still have a small window—until April 3, 2025—to finalize their applications. After this date, the Golden Visa will no longer be an option for residency in Spain.

What Are the Alternatives?

Although the Golden Visa is ending, Spain still offers multiple residency pathways for non-EU citizens. Whether you’re a retiree, a family looking for a new home, or someone who wants to enjoy the Spanish lifestyle without the need to work, here are some viable alternatives:

1. Non-Lucrative Visa (NLV) – Ideal for Retirees & Passive Income Holders

This visa is perfect for those who have sufficient savings or passive income (such as pensions, dividends, or rental income) to support themselves without working in Spain.

• Requirements: A minimum annual income of approximately €28,800 for an individual and €7,200 per additional family member.
• Benefits: Renewable residency, access to healthcare, and the possibility of long-term settlement in Spain.

2. Digital Nomad Visa – Great for Remote Workers & Entrepreneurs

Spain’s Digital Nomad Visa has gained traction among remote workers and freelancers who wish to live in Spain while working for non-Spanish companies.

• Requirements: Proof of remote employment or business ownership, a stable income (at least €2,600/month), and health insurance.
• Benefits: Residency for up to five years with tax advantages for the first six years.

3. Investor Residency Through Business (Entrepreneur Visa)

For those looking to invest in Spain through business rather than real estate, the Entrepreneur Visa allows foreign nationals to start a business that generates employment and innovation.

• Requirements: A detailed business plan demonstrating economic viability.
• Benefits: Work and residence rights, family reunification, and access to Spain’s business ecosystem.

Upcoming Challenges & Potential Risks

While these alternatives provide strong options, there are concerns about potential new restrictions that could affect non-EU buyers:

• Proposed 100% Tax for Non-EU Property Buyers: The Spanish government has hinted at a potential tax increase for non-EU buyers. Although not yet implemented, this could significantly impact investment decisions.
• Stricter Requirements for Residency Visas: Authorities may tighten financial and documentation requirements, making it essential to plan ahead and ensure compliance with new regulations.

Why Spain is Still an Attractive Destination for Foreign Buyers

Despite these changes, Spain remains one of the most desirable locations for non-EU buyers seeking residency, thanks to:

• A Favorable Climate: Spain offers over 300 days of sunshine per year, making it an ideal location for retirees and families looking for a relaxed lifestyle.
• High-Quality Healthcare System: Spain boasts one of the best public and private healthcare systems in Europe.
• Affordable Cost of Living: Compared to other European countries, Spain offers a lower cost of living while maintaining a high quality of life.
• Strong Expat Communities: Cities like Valencia, Alicante, and Málaga are home to thriving international communities, offering support and resources for new arrivals.

How Livin’Valencia Can Help

At Livin’Valencia, we understand that the end of the Golden Visa may raise concerns for potential buyers. Our team specializes in guiding non-EU citizens through alternative residency options and ensuring a smooth relocation process. Whether you are looking for your dream home, seeking expert legal advice, or need assistance with visa applications, we are here to support you every step of the way.

If you’re considering making Spain your home, now is the time to explore your options. Contact us today to discuss the best residency path for you and take advantage of our expert advisory services.