As we detailed in our article Changes to European golden visa programs, many countries in Europe are mothballing their golden visa programs; Spain is no exception. Although golden visa programs are the most well known way to obtain EU residency, there are other relatively easy options available, in Spain, to gain EU residency for you and your family.
Benefits of EU residency
There are many benefits of EU residency, especially in today’s rapidly shifting world. Whether you are an American, worried about the erosion of civil liberties, or a resident of South America looking for a more stable country in which to live and work, there are many benefits to obtaining EU residency.
High standard of living
Not only do most European countries have a high per GDP per capita (little Luxembourg has the highest GDP capita in the world, at $132,000 per year), but there are other factors in the continent that provide for a high standard of living. Aside from the stability attained by income and wealth equality, the EU has many regulations to protect its citizens. Its regulation of food, safety and consumer rights are the highest in the world.
Quality healthcare
Although healthcare systems vary across the EU, in general the EU has a very high standard of healthcare. Almost all EU countries have universal healthcare. Even if you don’t have health insurance, you will still receive excellent emergency care if something happens while you are traveling in the continent. If you live in the EU, many countries provide free healthcare to residents. Spain is no exception: once you obtain Spanish residency, you are eligible for a Tarjeta Sanataria. If you feel unwell, you can use this card to make a free appointment at your local clinic. If you have an emergency, just present this card at the hospital and you will be treated.
Education
Higher education in the EU is much cheaper than it is in the US and other countries. Although not free, tuition at public universities is typically 800-2000€ per annum. Spain also has excellent private universities that are relatively cheap. The most prestigious of these is IE, whose business school is consistently ranked amount the best in the world.
Ease of travel
If you obtain EU residency, you are free to travel visa free throughout the Schengen area. Fancy a trip to Paris? It’s a two hour flight from Madrid. Want to relax on a beautiful beach? Mykonos is a direct flight away.
Privacy protection
Are you worried about your data being made available and potentially misused? The EU takes protecting your personal data very seriously. The EU’s GPDR policy protects your data online. Your financial data is also fiercely protected, even offline. In the EU, you needn’t worry about rogue billionaires stealing your tax returns, bank account details and other financial information.
Investing in Madrid’s luxury real estate market offers strong returns, property appreciation and a stable asset in the EU. To learn more, you can email our founder, Fabiana Greci, directly at fabiana@madrid-estate.com, or contact her via WhatsApp at +34 680 30 63 37.
Ways to obtain EU residency in Spain
Although Spain, like Portugal, Cyprus and Malta, is shuttering its golden visa option, there are still a variety of ways for people to obtain Spanish residency. As Spain is a member of the Schengen Area, this also gives the right to live and travel in the EU.
Non-lucrative visa
This is the easiest way to obtain EU residency. Essentially, you just need to establish that your yearly income meets a minimum threshold. Although this may sound like an option only available to the super wealthy, the requirements are probably much lower than you would think.
If you can demonstrate a passive monthly income of 2,400€ per month, which translates to 28,800€ per year, you are eligible for a non-lucrative visa. If you have dependents, the amount increases an additional 7,200€ per year for each additional dependent. You will need to furnish bank statements to prove you have the required passive income.
If you meet the above income threshold, you also need to demonstrate that you have private health insurance in Spain. This is very reasonably priced; around 60€ per month is all that is needed for a very good insurance plan. Note that once you have established residency, you can access Spain’s public health care system free of charge. In reality, most people use both systems. The public healthcare system is considered best for major health care needs or surgeries, while the private system is best for smaller items, such as seeing a dermatologist.
In addition to demonstrating you have sufficient monthly income and private health insurance, you will also need to show that you do not have a criminal record in your country of origin.
The non-lucrative visa is issued for one year periods, which can be extended for up to four more years if income and savings requirements are consistently met. After five years, it opens the door to permanent residency and, eventually, Spanish citizenship.
It is important to note that if you have a non-lucrative visa, you are not eligible to work. Thus this visa is perfect for those with passive income such as from a real estate investments or pension funds.
Digital nomad visa
If you meet the minimum income threshold for a non-lucrative visa, but earn your income from a job, rather than assets, a digital nomad visa might be the perfect option. This visa, introduced in 2023, allows one to live in Spain if they work remotely.
The income requirement for the digital nomad visa is the same as the non-lucrative visa: 2,400€ per month.
To obtain EU residency via a Spanish digital nomad visa, you must demonstrate that you have been working for your company for at least three months prior to your application. You must also show that you have a contract with that same company for at least one year. The Spanish digital nomad visa is different than many other digital nomad visas in that it allows you to work with Spanish companies. If you receive a digital nomad visa, you can earn up to 20% of your income from Spanish clients. The digital nomad visa also allows access to a favorable tax regime: up to 24% flat tax for five years. Without the favorable tax regime, you could have to pay a a progressive rate that can reach up to 48%.
Finally, like with the non-lucrative visa, you will also need to demonstrate that you have private health insurance and a clean criminal record in your country of origin, or any other country in which you have lived.
Entrepreneur visa
The final option available to obtain Spanish residency is via an entrepreneur visa. This visa is for those wishing to start their own companies in Spain. The main requirement for this visa is that you must have a solid business plan, which needs to be approved by the Large Companies and Strategic Groups Unit of the Spanish government. The idea behind this visa is not that your company must be up and running to obtain the visa. Rather, the visa gives you a year or two to establish your company in Spain. If you apply outside of Spain, the visa is valid for one year. If you apply inside Spain, the visa is valid for two years. When your entrepreneur visa expires, you can extend the visa if you demonstrate that you are executing your initial business plan.
Interestingly, the minimum income threshold for this visa is less than the non-lucrative visa and the digital nomad visas; it is only 100% of the Spanish minimum wage (IPREM), which was set at 600€ per month for 2025.
As with the other visas, you will also need to demonstrate that you have private health insurance and a clean criminal record.
A note about income requirements for Spanish visas
The numbers we give above are the 2025 required incomes for the various types of Spanish visas. Thus you may see slightly different numbers if you look at sources from past years. This is because the technical requirement is that your income must be a fixed percentage of the Spanish IPREM, which is the Spanish minimum wage. The Spanish government adjusts this number every year. To see the current IPREM you can CLICK HERE.
Conclusion
Even without the golden visa, there are many options to live in Spain and obtain EU residency. Not only can you live and work in the EU, and work towards EU citizenship, but investing in Madrid’s luxury property market is a smart move for high-net-worth individuals. Key benefits include:
- High appreciation rates in exclusive areas like Salamanca, Chamberí and La Moraleja.
- Strong rental demand from international professionals and executives.
- Diversification of assets in a stable European economy.
If you’re interested in purchasing luxury real estate in Madrid and need expert guidance, we invite you to schedule a consultation with Madrid Estate today!
Contact us at fabiana@madrid-estate.com or WhatsApp +34 680 306 337 to discuss your relocation plans.
