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Spain is one of the hottest destinations for foreign workers, investors, professionals and families looking to have a base in this Mediterranean country. As you may all be aware, one of the country’s most popular programs is set to conclude on April 3rd, 2025. Yes, that’s the Golden Visa residency program of Spain. However, there are other programs Spain has to offer – that are not closing – and in this article we go through a side-by-side comparison for the most popular programs to obtain a residency in Spain, which can also lead to citizenship.
If you’re looking to secure residency in Spain while enjoying the Mediterranean lifestyle, having the flexibility to travel between your home country and the EU, and either running your business remotely or enjoying your retirement, then this guide is for you.
Spain remains a top choice due to its high quality of life, strong economy, modern infrastructure, and diverse geography. Popular destinations like Marbella, Madrid, and Alicante attract expats for their different benefits, but the residency options remain the same regardless of where you choose to live.
Purchasing property—whether it’s an apartment in Madrid or a coastal villa in Marbella—can grant you residency in Spain and visa-free access to the EU, provided your nationality requires a visa. However, Spain’s Golden Visa real estate option is set to end on April 3, 2025, following a similar move by Portugal in 2023.
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Spain offers three main residency programs:
Non-Lucrative Visa (NLV) – For retirees or individuals with passive income.
Digital Nomad Visa – For remote workers employed by overseas companies.
Golden Visa – For investors, business owners, and high-net-worth individuals (ending in April 2025).
Let’s break them down in detail:
Spain’s Non-Lucrative Visa (NLV)
This visa is aimed at retirees and individuals with passive income sources (pension, rental income, dividends, etc.). It allows you to reside in Spain long-term, but does not permit employment or self-employment.
Advantages of the NLV:
✔ No investment required. ✔ No employment necessary. ✔ You can include dependent family members. ✔ Leads to Spanish citizenship after 10 years if you meet residency requirements.
Disadvantages of the NLV:
✖ You cannot work or run a business in Spain. ✖ Your income must come from non-active sources. ✖ You must meet strict residency requirements to renew and eventually apply for permanent residency.
Eligibility for Spain’s Non-Lucrative Visa (NLV):
• Financial Means: Proof of 400% of the Public Multiple Effects Income Indicator (IPREM) annually, plus 100% of IPREM per additional family member.
The Indicador Público de Renta de Efectos Múltiples (IPREM) is a benchmark used in Spain to determine eligibility for various social benefits and assistance programs. As of 2024, the IPREM is set at €600 per month, which amounts to €7,200 annually. For the most current and official information regarding the IPREM, you can refer to the Spanish Public Employment Service (SEPE) website: SEPE - Annual Amounts
**Please note that the IPREM values are subject to change based on annual budgetary decisions. It's advisable to consult the official SEPE page
• Health Insurance: Private health insurance equivalent to Spain’s public healthcare system.
• Clean Criminal Record: Certificate from countries of residence for the last five years.
• Medical Certificate: Proof that the applicant does not suffer from any serious health risks.
• Proof of Residence: Applicants must apply from their country of residence and provide legal residency documentation.
Renewal and Conversion to Permanent Residency
Spain’s Golden Visa (Closing April 3, 2025)
✔ No minimum stay requirement. ✔ Allows business ownership and employment in Spain. ✔ Leads to permanent residency and citizenship after five to ten years.
What Happens After April 3, 2025?
Spain’s government is revising the Golden Visa program. It is likely to remove the real estate investment option and follow Portugal’s model by focusing on business investments and financial contributions. If you want to secure residency through property investment, the deadline to apply is April 3, 2025.
The Digital Nomad Visa allows remote workers to live in Spain while working for foreign companies. It was introduced in response to the rising demand for remote work visas post-pandemic.
Advantages of the Digital Nomad Visa:
✔ No investment required. ✔ Temporary residency based on employment with a foreign company. ✔ Can lead to permanent residency if residency requirements are met.
Disadvantages of the Digital Nomad Visa:
✖ Spouses and dependents cannot work in Spain. ✖ Visa must be renewed every year. ✖ The main applicant cannot start a business or work for a Spanish employer. ✖ Residency is only valid for up to five years, with limited time spent outside Spain.
Eligibility for Spain’s Digital Nomad Visa:
• Employment Proof: A valid employment contract (minimum 3 months) with a non-Spanish company.
• Freelancers: A long-term service contract with at least one foreign company.
• Financial Means: Proof of at least 200% of Spain’s Minimum Wage (SMI) (€2,268 per month as of 2024).
• Additional Dependents: 75% of the SMI for the first dependent (€850.50) and 25% (€283.50) per additional dependent.
• Health Insurance: Private health insurance coverage equivalent to Spain’s public healthcare system.
Renewal and Conversion to Permanent Residency
• The Digital Nomad Visa is initially valid for one year.
• Can be renewed for successive periods.
• After five years, holders may apply for permanent residency if absences do not exceed 10 months within the five-year period.
• Golden Visa: Best for investors and entrepreneurs (closes April 2025). Minimum investment of €500,000 in a property or combination of properties with a medical and background check as the basic requirements.
• Non-Lucrative Visa: Best for retirees and those with passive income.
• Digital Nomad Visa: Best for remote workers seeking short-to-medium-term residency.
• he Spain Golden Visa Closing on April 3rd, 2025:
What options are left for Spain Residencies?
The good news is that both the Digital Nomad Visa and the Non-lucrative visa remain open after the Golden Visa deadline of April 3rd, 2025. Applicants can apply for any of these programs after April 3rd 2025 based on meeting the eligibility requirements of each program.
The Golden Visa will be revised and relaunched later in 2025. The Digital Nomad Visa and non-lucrative Visa will continue to accept applications. The government can make changes to these programs down the line but nothing has been announced as of this date. It is possible to convert from any of these visas to a Golden Visa later on when it re-launches in 2025.
The Golden Visa in Spain will most likely be re-launched without the Real Estate purchase option, similar to how Portugal revised it’s program back in 2023-2024. We expect that the property option as an investment for the Golden Visa may be removed by the government in their relaunch of Golden Visa 2.0 for Spain, or in the best case scenario offer limited geographic eligibility for property purchases, meaning specific regions or cities (typically not Madrid or any of the major metropolitan areas) would be eligible for foreign investors.
Depending on your eligibility criteria, your financial resources, and your long term goals in Spain, it is not too difficult to select which of these programs you would be eligible for, and which one can provide you more flexibility in terms of residency requirements and converting to permanent residency. If you are an entrepreneur, business owner looking for maximum flexibility without restrictions, the Golden Visa residency is the most viable option. If you are a retiree or don’t need to be involved in active income and just want to enjoy the Spanish lifestyle, then the non-lucrative visa is the best choice (NLV), and if you are a remote digital worker of a foreign company looking for a short-term get-away (i.e. 1-2 years) then the digital nomad visa can be a suitable program.
If you are looking for permanent residency in Spain, consider your long-term goals. With the Golden Visa ending soon, the NLV and Digital Nomad Visa remain viable options for obtaining Spanish residency and potential EU citizenship.
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