Brits Turn to Non-Lucrative Visa as Alternative to Spain’s Golden Visa Program
As the deadline for the termination of Spain’s Golden Visa Program approaches in April 2025, British nationals are increasingly exploring the non-lucrative residence visa as an alternative. This visa is tailored for non-EU nationals who wish to reside in Spain without engaging in any professional or work activity.
Requirements for Spain’s Non-Lucrative Visa
To qualify for this visa, applicants must:
- Be a non-EU national.
- Provide proof of financial stability to support their stay in Spain without working.
- Have a clean criminal record.
- Be free of any medical conditions that could pose a public health risk.
The visa also allows successful applicants to bring their families with them, making it an attractive option for those seeking a peaceful life in Spain.
End of Spain’s Golden Visa Program
The Golden Visa Program, a popular scheme for wealthy non-EU nationals to obtain residency through financial investment, will officially end in April 2025.
- The program, while contributing significantly to Spain’s economy, faced criticism for its association with money laundering, corruption, and tax evasion.
- The European Commission has repeatedly urged member states to terminate such schemes due to concerns over financial irregularities.
Surge in Golden Visa Applications
According to Golden Partners, there has been a sharp increase in Golden Visa applications since January 3, 2025, following the announcement of the program's end. The most popular option remains property investment, requiring a minimum purchase of €500,000.
The decision to abolish the Golden Visa Program was officially published in Spain’s Official State Gazette (BOE) on the same date.
Why Brits Are Considering Non-Lucrative Visas
With the Golden Visa Program ending, Brits seeking residency in Spain are turning to the non-lucrative visa as a viable alternative. It offers a pathway to live in Spain without the need for employment, making it particularly appealing for retirees and individuals with substantial financial resources.
This shift reflects a growing trend among non-EU nationals looking for flexible yet stable residency options in Spain.
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