Spain’s residency options can be confusing, especially when comparing the Golden Visa and the Non-Lucrative Visa. Both offer a path to living in Spain, but they come with different requirements and benefits.

To get clarity, I spoke with an immigration lawyer who specializes in helping non-EU citizens move to Spain. He broke down exactly who should apply for each visa, the challenges involved, and what applicants need to prepare.

What You’ll Learn in This Guide:

The key differences between the Golden Visa and Non-Lucrative Visa.
Who qualifies for each visa, including financial requirements.
The benefits and drawbacks of each option.
What to expect during the application process.
A decision-making tool to help you choose the right visa.

Golden Visa vs. Non-Lucrative Visa: What’s the Difference?

The Non-Lucrative Visa is best suited for retirees, those taking a sabbatical, or individuals with passive income who want to live in Spain without working. As our expert explained:

“The non-lucrative visa allows people to live in Spain, but they cannot work. It was originally for retirees, but now younger individuals who have savings or passive income also apply.”

The Golden Visa, on the other hand, is for individuals who can invest at least €500,000 in Spanish real estate or other qualifying investments. It allows holders to live in Spain without residency obligations and gives them the right to work.

Here’s how they compare:

Spain Visa ComparisonGolden Visa vs. Non-Lucrative Visa Comparison
        
                Feature
                Non-Lucrative Visa
                Golden Visa
            
                Work Permission
                ❌ Not Allowed
                ✅ Allowed
            
                Minimum Investment
                ❌ None
                ✅ €500,000+ in real estate
            
                Residency Requirement
                ✅ 6+ months per year
                ❌ No requirement
            
                Tax Residency
                ✅ Yes, if staying over 183 days/year
                ❌ No, unless choosing to reside full-time
            
                Family Inclusion
                ✅ Yes
                ✅ Yes
            
                Application Process
                ❌ Must apply from home country
                ✅ Can apply from Spain
            
                Processing Time
                ⏳ 3-5 months
                ⚡ Fast-track

Who Should Apply for the Non-Lucrative Visa?

Retirees with pension or savings to support themselves.
Individuals taking a gap year or sabbatical.
Non-EU citizens with passive income from investments or rental properties.
People who want to test life in Spain before committing to permanent residency.

Key Requirements:

Proof of Financial Means: At least €30,000 per year for the main applicant, plus €10,000 per dependent.
Health Insurance: Private Spanish health insurance is required.
Residency Obligation: Must live in Spain for at least six months and one day per year.
No Work Allowed: Employment in Spain or remote work for a Spanish company is not permitted.

Who Should Apply for the Golden Visa?

Investors purchasing real estate worth €500,000+.
Entrepreneurs and business owners who want the flexibility to work.
Individuals seeking a fast-track residency permit without needing to live in Spain full-time.

Key Benefits:

Work Authorization: Allows employment and business activities.
No Residency Requirement: You don’t have to live in Spain to maintain the visa.
Family Inclusion: Spouses and dependents qualify under the same application.
Faster Processing: The Golden Visa is typically processed more quickly than the Non-Lucrative Visa.

Will the Golden Visa Be Canceled?

There have been discussions about ending the Golden Visa program to address housing market concerns. Christian noted:

“The Spanish government has proposed canceling the Golden Visa, but this process could take months. If you are considering it, now is the time to act.”*

*Since then it has been confirmed that the Spain Golden visa will end in April 2025.

Application Process & Timelines

The application process varies depending on the visa type:

Visa Application Process & Timelines
        
                Step
                Non-Lucrative Visa
                Golden Visa
            
                Application Location
                Spanish consulate in home country
                Spain or home country
            
                Initial Visa Duration
                1 year
                3 years
            
                Residency Card Processing
                3-5 months
                1-2 months
            
                Renewal Requirements
                Financial proof every 2 years
                Property ownership

Which Visa Is Right for You?

Use the tool below to determine which visa best suits your needs:

Spain Visa Decision Tool

Do you have €500,000+ to invest in Spanish real estate? → Golden Visa
Do you need to work while living in Spain? → Golden Visa
Do you have passive income or savings and don’t need to work? → Non-Lucrative Visa
Do you plan to live in Spain full-time? → Non-Lucrative Visa
Do you want flexibility to live elsewhere while holding residency? → Golden Visa

If you’re unsure which visa fits your situation best, consulting with an immigration expert can provide valuable guidance. Spain offers incredible opportunities for relocation, whether you’re looking for a relaxed retirement, a sabbatical, or a real estate investment opportunity.

If you’d like to explore your options further, consider booking a consultation to discuss your specific case and application strategy. Making the right choice now will ensure a smooth transition to life in Spain!