Lately, there have been many discussions on forums about the cost of living and welfare in Spain, and I’ve noticed many people are considering settling down here. When we talk about settling down, the topic of ‘residency’ is unavoidable, especially ‘obtaining residency through property purchase,’ which seems to be back on everyone’s radar.
Today, I want to talk about this topic, focusing on the one you’ve probably heard of most: the ‘Golden Visa’.
What Exactly is the Golden Visa?
Simply put, it’s a residency-by-investment program introduced by the Spanish government. The core requirement is to make a real estate investment in Spain of no less than €500,000. Once approved, the main applicant, their spouse, minor children, and even financially dependent adult children and parents can obtain residency status.
Its biggest advantages are:
- Flexible renewal requirements, with no strict minimum stay period. You only need to enter the country once a year, making it ideal for those whose main life and career are still in their home country and who want a residency permit as a ‘plan B’.
- Allows you to work or start a business in Spain, which is the biggest difference compared to the other common option, the ‘Non-Lucrative Visa’.
Golden Visa vs. Non-Lucrative Visa
At this point, some of you might be wondering which one is better. I’ve created a simple table so you can see the differences at a glance:
| Criteria | Spain Golden Visa | Spain Non-Lucrative Visa |
|---|
| Investment Threshold | €500,000 real estate investment | No specific investment required |
| Work Rights | Permitted to work and run a business | Not permitted to work |
| Physical Stay Requirement | Visit at least once a year | Must reside for 183+ days a year |
| Proof of Funds | Proof of the source of investment funds | Proof of sufficient passive income |
Some Personal Thoughts
Honestly, neither is definitively ‘better’—it all depends on your needs. If you have sufficient funds, don’t want to be tied down by residency requirements, and want to keep the option of working in Spain in the future, then [the Spanish Golden Visa] is undoubtedly the top choice. However, if you simply want to come here to enjoy your retirement, don’t plan to work, and can stay for at least six months a year, the Non-Lucrative Visa has a much lower financial threshold and is more cost-effective.
Recently, there have been some rumors about the Golden Visa policy potentially tightening up. However, as it stands with Spanish residency by property purchase, the law is still in effect, and the opportunity is still there. Just a reminder to everyone, regardless of which path you choose, be very careful when buying property. Find reliable lawyers and agents to avoid any unnecessary pitfalls. I hope everyone can successfully achieve their goals! Friends with experience are welcome to share their thoughts and add to the discussion!
