Spain’s Golden Visa Phase-Out: Why Entrepreneur Visas Are the Future

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Residency by Investment
Published Date: 07.01.2025

Spain has officially announced the phase-out of its Golden Visa program, with Organic Law 1/2025 marking the end of investment-based residence permits. Starting April 3, 2025, articles 63 to 67 of Law 14/2013 will no longer apply, effectively eliminating investment as a pathway to residency in Spain. However, articles 68 to 70 regulating entrepreneur visas will remain intact, offering a promising alternative for business professionals looking to reside in Spain.

The End of Spain’s Golden Visa Program

The Golden Visa has long been a popular route for investors seeking residence in Spain. Its phase-out, however, signals a shift in Spain’s immigration policies. Organic Law 1/2025 has officially set April 3, 2025, as the deadline for the program.

This change leaves the entrepreneur visa as a viable option for non-EU residents aiming to live and work in Spain. Unlike the Golden Visa, which required significant financial investments, the entrepreneur visa focuses on innovation and job creation, aligning with Spain’s economic goals.

Why the Entrepreneur Visa Is Thriving

The entrepreneur visa’s popularity is growing, thanks to improvements introduced by Law 28/2022. Applicants can now submit their documents online via the Ministry of Migration’s portal, streamlining the process and making it accessible worldwide. The required documentation includes police clearance certificates, vital records, and a robust business plan.

ENISA, the Spanish Innovation & Entrepreneurship Agency, now oversees business plan evaluations. This has expedited the review process from two months to just three to four weeks. Additionally, ENISA’s focus on innovation ensures that the entrepreneur visa attracts high-potential ventures.

Most successful applications involve €150,000 to €200,000 in fixed asset investments and plans to create five to six jobs. Entrepreneurs must also live in Spain for six months annually to maintain eligibility, distinguishing this permit from the Golden Visa.

Key Benefits for Entrepreneur Visa Holders

The entrepreneur visa offers a host of advantages for applicants and their families. The initial residence permit is valid for three years, followed by renewable five-year extensions. This provides stability for entrepreneurs aiming to establish themselves in Spain.

Another significant benefit is the “Beckham Rule” tax provision. Entrepreneurs who meet residency requirements can benefit from reduced personal income tax rates ranging from 19% to 28% for six years. These rates are among the most competitive in the Eurozone, making Spain an attractive destination for business professionals.

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Conclusion

While Spain’s Golden Visa program is coming to an end, the entrepreneur visa emerges as a flexible and promising pathway for those seeking residence in Spain. By focusing on innovation, scalability, and job creation, this visa aligns with Spain’s economic priorities. With the streamlined application process and tax benefits like the Beckham Rule, it is no surprise that entrepreneur visas are gaining traction among global business professionals.

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