Spain has long been a dream destination for investors and expats seeking a vibrant European lifestyle. Historically, the Golden Visa program, introduced in 2013, allowed non-EU nationals to gain residency by making an investment in a property with a minimum value of €500,000. However, recent developments have led to the phasing out of this traditional route, making way for alternative opportunities. In this post, we’ll explore the reasons behind this transition and highlight two promising alternatives: the Digital Nomad Visa and the Golden Visa through investment in Spanish companies. The announcement of the abolition of the Golden Visa has left a number of unanswered questions whilst the legislature is passed, however there are plenty of options

A New Chapter: Embracing Sustainable Investment

The decision to retire the traditional real estate-based Golden Visa marks an alternative shift by the Spanish government. This move addresses several key issues while paving the way for more impactful and sustainable forms of investment:

1. Balanced Property Market: By reducing speculative real estate investments, the new approach aims to stabilise property prices, ensuring affordability for locals and creating a healthier housing market.

2. Enhanced Economic Contribution: The focus is shifting towards investments that foster economic growth, encourage job creation, and benefit local communities more directly.

3. Broader Opportunities: New visa options open doors for a wider range of investors and professionals, promoting diversity and innovation within Spain’s economy.

New Visa Options: Digital Nomad Visa and Golden Visa via Company Shares

1. The Digital Nomad Visa

Spain’s Digital Nomad Visa is a forward-looking initiative designed to attract remote workers and digital professionals from around the world. This visa offers a perfect blend of work and leisure in one of Europe’s most dynamic countries. Key features include:

• Flexible Eligibility: The visa is open to non-EU nationals employed by companies outside Spain or those with contracts from international clients. Freelancers and self-employed individuals are welcome too.
• Attractive Income Criteria: Applicants need to demonstrate sufficient income to support their stay, ensuring a comfortable lifestyle in Spain.
• Long-Term Residency: Initially granted for one year, the visa can be renewed for up to five years. After five years, digital nomads can apply for permanent residency.
• Family-Friendly: The Digital Nomad Visa includes provisions for spouses and children, making it an excellent option for families.

2. The Golden Visa via Investment in Spanish Companies

For those keen on making a direct impact on Spain’s economy, the Golden Visa through investment in Spanish companies offers a compelling opportunity. Here’s why this option stands out:

• Significant Investment: To qualify, applicants must invest at least €1 million in shares of a Spanish company or make a similar investment in Spanish public debt, fostering substantial economic benefits. Please note, this investment can still be in the form of Real Estate, just held in a different structure.
• Economic Growth: This investment route is designed to stimulate business growth and job creation, contributing positively to the Spanish economy.
• Comprehensive Residency Benefits: Investors and their families gain residency with the ability to live, work, and study in Spain.
• Path to Citizenship: The visa is initially valid for two years and can be renewed indefinitely. After five years of residency, investors can apply for permanent residency, and after ten years, for Spanish citizenship.

Conclusion

Spain’s shift from the traditional Golden Visa to innovative residency options reflects a commitment to sustainable development and economic diversity. While the end of the ‘privately held’ real estate-based visa may seem like a significant change,

The Digital Nomad Visa and the Golden Visa via investment in Spanish companies provide alternative and viable pathways to making Spain your new home. Whether you’re a remote worker seeking a vibrant and culturally rich environment or an investor looking to support Spanish enterprises, these modern visa options offer a chance to contribute to Spain’s future while enjoying the unparalleled quality of life the country offers.

As Spain opens its doors to new forms of investment and talent, staying informed about these opportunities is essential. Embrace the change, explore these new pathways, and discover all that Spain has to offer.