As we mentioned earlier, in December, the Spanish Congress of Deputies approved the definitive elimination of the Golden Visa program, through an amendment included in the Public Justice Service Efficiency Law Project.
This regulation, published on January 3 in the Official State Gazette (BOE), will take full effect three months after its publication, setting April 3, 2025, as the deadline for new visa applications under this program.
Transition Period and Acquired Rights
The regulation includes safeguards for those interested in the program. Those who submit complete documentation before April 3 of this year will still be able to obtain their visa under the current rules.
Likewise, visas issued before the effective date of the new regulation will remain valid until the expiration of their corresponding period.
Alternatives to the Golden Visa for Residency in Spain
Despite the appeal of this program, which for years has been considered one of the best in the world, it is not the only option for obtaining residency in Spain. Let’s review some alternatives:
- Entrepreneur Visa: According to specialized media such as IMI Daily, this visa could be considered the “natural successor” to the Golden Visa. While it does not have a minimum investment amount, typical investments range between €150,000 and €200,000 (in fixed assets). Additionally, it requires the creation of 5-6 jobs and a solid business plan. Since late 2022, the processing time for this visa, which can be initiated online, has been reduced from two months to 3-4 weeks. Unlike the Golden Visa, it requires a minimum residency in Spain (6 months per year). It grants a three-year residence permit, renewable in five-year periods, and is eligible for tax benefits such as the “Beckham Law.”
- Non-Lucrative Residence Visa: Designed for foreigners with sufficient financial means to reside in Spain without the need to work. This is a popular alternative among retirees and individuals with passive income.
- Digital Nomad Visa: This option allows professionals to work remotely from Spain while maintaining employment ties with foreign companies.
- Spanish Citizenship by Residency: This remains a viable option for those seeking permanent settlement, especially for Latin Americans, who can apply for citizenship after two years of legal residency.
AIM Global Helps You Realize Your Investment Options
If you wish to invest in Spain’s Golden Visa program, you still can! But you will need to act quickly to complete all the necessary procedures before April 3 of this year. This is more than enough reason to seek professional advice like that offered by AIM Global.
On the other hand, Spain continues to offer alternatives for those interested in residing in its territory, whether through independent financial means, entrepreneurship, or remote work.
With offices in Lisbon and Santiago de Chile, AIM Global is ready to help you find the most convenient way to obtain residency or citizenship in Spain, within an ever-evolving regulatory context.
Schedule a free consultation today and start turning your international mobility projects into reality.