Looking for residency in Spain has long been the goal for many people from all over the world, whether it is for its climate, culture, business opportunities or simply the desire for a change of lifestyle. For those who want to settle in this Mediterranean country, the Golden Visa is undoubtedly one of the most sought-after programmes. However, due to changes in regulations and the need for more adaptable options, options have emerged that offer equally attractive opportunities to obtain residency in Spain.
In the following we will analyse all these alternatives, describing their requirements, advantages and how to apply for them. In addition, we will discuss the different options available, such as the Entrepreneurship Visa, the Non-Profit Visa and the Investor Residency Visa, and how they differ from the Golden Visa in terms of accessibility, advantages and requirements.
The end of the Golden Visa
The Golden Visa has been a popular option for those seeking an entrepreneur visa in Spain. However, with changes in regulations and the existence of more flexible options, it is important to be aware of the alternatives that exist. Below we will look at these alternative visas.
Main alternatives to the Golden Visa
Entrepreneurship Visa: an option for innovators
The Entrepreneurship Visa offers a route for those with innovative business projects. Its main objective is to encourage innovation and entrepreneurship in Spain. To achieve this, it offers applicants the opportunity to easily establish and develop their business in Spain.
Non-profit visa: living in Spain without working
For those who want to live in Spain without having to work, the non-profit visa is the ideal option. It is a very attractive option for retirees, passive income earners or people who want to take a gap year.
Investment alternatives to the residence visa
The investor residence visa is not limited to real estate investment only.
Although traditionally associated with the purchase of property, this visa also allows investments in other areas, such as government bonds, stocks or business projects, although traditionally associated with the purchase of property.
Process and requirements for each alternative
However, what are the specifications for each of them? We share them with you below:
Requirements for the entrepreneurial visa
- Present a viable and scalable business plan.
- Demonstrate financial capacity to develop the project.
- Comply with social security and health requirements.
Requirements for the non-profit visa
- Demonstrate sufficient income to subsist in Spain without working.Have valid medical insurance in Spain.
- Not have a criminal record in Spain or in other countries where he/she has lived in the past.
- Not have a criminal record in Spain or in other countries where you have previously lived.
Alternative investments for residence visa
- Buy Spanish government bonds
- Investing in shares of Spanish companies.
- Participate as a partner in business projects in Spain.
Comparative benefits: Why consider these alternatives?
Alternative visas to the Golden Visa in Spain have a number of advantages that make them attractive to those who want to settle in the country. Some of them offer investment diversification, investment flexibility, lower financial requirements, encouragement of entrepreneurship and labour and lifestyle flexibility, and even the possibility of permanent residency. Let’s look at them in more detail below:
Advantages of the Entrepreneurship Visa over the Golden Visa
- Promotes innovation and economic development.
- It does not require as large an investment as the Golden Visa.
- Can obtain permanent residency after a certain period of time.
Benefits of the non-profit visa for non-working residents
- Flexibility to reside in Spain without the need to work.
- Offers opportunities for personal development and the opportunity for self-employment.
- Allows you to enjoy the Spanish lifestyle without the pressure of having a job.
Comparison of the Residence Visa with the Golden Visa
- The investor residence visa offers a wide range of investment options.
- It does not only buy real estate.
- For those who want to invest in other sectors, it can be a cheaper option.
Frequently asked questions about alternatives to the Golden Visa
How can I obtain an Investor Residency Visa without buying real estate?
To obtain the Investor Residence Visa, you can choose to invest in government bonds, shares in Spanish companies or participate as a partner in business projects in the country.
Is it possible to work in Spain with a non-profit visa?
No, the non-profit visa is exclusively for people who wish to reside in Spain without working. If you wish to work in Spain, you must apply for an appropriate work visa.
What documents do I need to apply for an alternative to the Golden Visa?
The documents required to obtain a visa vary by type, but typically include a valid passport, a criminal record certificate, proof of sufficient funds and medical insurance.
How long does the application process for an entrepreneur visa take?
Processing time can vary, but usually takes several months. To avoid delays, a complete application must be submitted and all requirements must be met.
Can I bring my family to Spain if I obtain one of these alternative visas?
Yes, some of these visas allow family reunification, which allows you to bring your spouse and minor children to Spain.
What are the key differences between the Golden Visa and the entrepreneurial and non-profit visas?
The entrepreneurial and non-profit visas are alternatives for those who do not want to invest in real estate or undertake business projects in Spain, whereas the Golden Visa focuses on real estate investment.
What type of investment does the Investor Residency Visa require?
The residence visa for investors allows you to invest in a variety of assets, such as real estate, government bonds, shares of Spanish companies or business projects.
Conclusions and next steps
When considering alternatives to the Golden Visa in Spain, it is crucial to assess your objectives, financial resources and personal preferences.
Each option has its own requirements and advantages, so it is best to consult an expert before making a decision in order to choose the visa that best suits your needs. Only if you inform yourself properly and plan your situation carefully will you be able to find a visa that suits your circumstances.
