Spain: Are there tax benefits for foreigners after the end of the Golden Visa?

With the definitive elimination of the Golden Visa program in Spain on April 3, 2025, many international investors are wondering if there are still attractive ways to establish themselves for tax purposes in the country. The answer is yes. There are tax benefits available for foreigners with economic interests in Spain that can be very advantageous.

Let's review some of them.

End of the Golden Visa and its limited impact

The Golden Visa program, implemented in 2013, allowed non-EU citizens to obtain residency in exchange for investments in real estate or capital. However, official studies indicate that this option only accounted for 0,25% of real estate transactions over the past eleven years, revealing its limited impact on the overall market. 

However, its disappearance has left numerous potential investors out of the equation, especially in regions like Madrid, where interest from foreigners, particularly Chinese and Latin Americans, had intensified markedly in recent months.

Tax alternatives for new residents

Spain maintains highly competitive tax mechanisms to attract professionals and investors (even after the end of the Golden Visa). 

Among the most relevant are:

1. “Beckham Law” 

This legislation allows you to pay taxes only on income from Spanish sources (excluding salary) during a specific period. The applicable tax rate is 24% on the first €600.000, and 47% on income exceeding that amount. 

Dividends, capital gains or interest generated abroad are not taxed in Spain, which represents a significant tax advantage.

This regime applies only to workers posted by a company, not to self-employed or freelancers, and provided that they have not been tax residents in Spain during the last five years. 

The benefit must be requested within the first six months after arrival in the country.

2. Favorable regional taxation

In the absence of the Golden Visa, investors who obtain tax residency in Spain may consider settling in autonomous communities with outstanding tax advantages, such as Madrid, Andalusia or Galicia. 

In these regions, the Wealth Tax It is 100% discounted, and the Inheritance and Gift Tax A bonus of up to 99% is given, even between uncles and nephews.

Additionally, there are deductions in the regional portion of the Income Tax for Individuals (IRPF) for investments in bonds, shares or companies, provided that they do not exceed 40% of the share capital and are held for at least six years. 

Note: This deduction, informally known as Mbappé Law, is incompatible with the Beckham Law.

3. Visa for digital nomads

Spain has developed a viable alternative for freelancers or employees of foreign companies who work remotely. digital nomad visa It allows residence in the country provided that the applicant:

• Have a contract with a foreign company or international clients that is at least 3 months old.
  
• Receive a minimum monthly income of 2.000 euros.
  
• Have at least 25.000 euros in a Spanish bank account.
  
• Can demonstrate that your work activity is carried out remotely.
  

This visa is especially suited to professional profiles in the digital environment, such as developers, designers, writers, among others.

Investment opportunities with tax benefits

Even without the Golden Visa, foreign investors can take advantage of significant tax incentives by contributing to strategic sectors. 

Investments in startups, SMEs, R&D projects o audiovisual productions They offer significant deductions in personal income tax. Contributions to private pension plans are also recommended, as they allow for tax reductions within certain limits.

AIM Global helps you find your best option

As we have seen, even after the elimination of the Golden Visa program, the Iberian country continues to offer an attractive framework for those who wish to settle there. 

At AIM Global, we have a team of highly trained professionals to advise international investors on their establishment process in Spain. From tax analysis to immigration procedures, we provide comprehensive solutions tailored to each client's needs.

Agenda a meeting Contact us to analyze your case.