Non-profit visa emerges as an alternative to the Golden Visa in Spain
The recent elimination of the Golden Visa in Spain has marked a turning point in the country's immigration policy, especially for non-EU citizens intending to settle legally and permanently. In this new context, the non-lucrative visa It positions itself as one of the main alternatives for Latin Americans who want to live in Spain without needing to make a significant real estate investment.
The end of the Golden Visa and the emergence of new opportunities
For over a decade, the Golden Visa offered a direct path to residency for those who invested at least €500.000 in real estate. However, its impact on the property market—especially in cities like Madrid and Barcelona—drew criticism for encouraging speculation and contributing to rising housing prices. The Spanish government, led by Pedro Sánchez, decided to abolish this program as of April 3, 2025.
What is a non-lucrative visa?
La non-lucrative residence visa It allows foreigners to reside legally in Spain without engaging in any work or professional activities. It is an ideal option for retirees, those living off investments, or people with assets who wish to settle in the European country.
The initial visa lasts for one year, extendable to three years, and allows you to apply for permanent residence and, eventually, Spanish nationality —with a waiting period reduced to two years for citizens of Latin America.
Financial requirements and conditions
To be eligible, the applicant must demonstrate sufficient financial resources. This means having at least 28.800 euros per year, plus an additional 7.200 euros for each dependent.
In addition, it is necessary to hire a private medical insurance and submit financial documentation and certifications. An important aspect is that the application must be made from the country of origin, which excludes immigrants already present in Spain.
The accredited capital cannot be touched during the stay, and the applicant agrees not to work or contribute to Social Security for at least the first year.
However, it is possible to manage investments or businesses, and later change to another type of residence with a work permit if certain requirements are met.
Advantages for Latin Americans
The non-lucrative visa represents a realistic, affordable, and legal alternative for many Latin Americans who wish to improve their quality of life and that of their families.
Among those who opt for this visa, as published El PaísThe profiles of people with financial stability who decide to migrate for reasons of security, quality of life or cultural and linguistic proximity with Spain are repeated.
Besides legal stability, one of the biggest attractions of this visa is the possibility of obtaining Spanish nationality in just two years, compared to the ten required for other nationalities.
This advantage makes Spain a priority destination within the strategic migration plans for many citizens of Latin America.
AIM Global, experts in international mobility
In response to the criticism the Golden Visa faced in its final months, the non-lucrative residence visa is adapted to a migratory profile that seeks integration and permanence.
AIM Global, with offices in Chile and Europe, has an expert team ready to help you find the best alternative to obtain residency in the Old Continent, whether through this passive income visa or similar ones in Portugal.
Schedule a meeting Join us for expert advice and start building your global mobility projects right now.
