We all know that the Spain Golden Visa program is set to end in January 2025. Recently, we had the opportunity to interview Echeverria Abogados, a legal expert with over 30 years of experience in the field. During our discussion, she shared valuable insights about the program and its implications for potential investors. The Golden Visa has been a popular choice for those seeking residency in Spain through investment, and understanding its current status is crucial for anyone considering this option. Here’s what she had to say about the program and its future.

Q1: Echeverria Abogados has more than 30 years experience. Please explain what advantages/benefits a high-net-worth individual and family seeking residency investment in Spain will have when engaging with a boutique practice?

Engaging with Echeverria Abogados offers high-net-worth individuals with

• Personalized Service: Tailored solutions for unique needs. 
• Expertise: Over 30 years of immigration experience.
• Comprehensive Support: Assistance from start to finish.
• Strong Relationships: Trust and reliable communication.
• Flexibility: Quick responses and direct access to senior lawyers.
• Local Knowledge: Insight into local markets and regulations.
• High-Quality Focus: Attention to detail and higher success rates.

These benefits enhance the experience and success of obtaining residency through investment in Spain or any type of visa according to the client´s needs.

Q2: The rules for Golden Visa are changing, does that mean no more Golden Visa for Spain or will there be alternative options? 

The Golden Visa in Spain is undergoing significant changes, including the elimination of real estate investment as a qualifying option. However, alternative investment routes might remain available, such as bank deposits of at least € 1 million, investments in Spanish public debt of at least € 2 million, or launching business projects that provide substantial social or economic benefits. Additionally, other visa options like the non-lucrative visa and the digital nomad visa are viable alternatives for those with sufficient savings or high incomes.

Q3. Who can apply for the Golden Visa?

In Spain, the Golden Visa is available to non-EU citizens who invest at least €500,000 in real estate. Other options include depositing €1 million in a Spanish bank or investing €1 million in shares of Spanish companies. Applicants must be over 18, have no criminal record, and possess private medical insurance. This visa grants residency for the investor and their family, with the possibility of renewal and eventual permanent residency.

Q4. Portugal Vs Spain: Portugal have been very favourable for American nationals, what do Americans need to consider between choosing Spain and Portugal?

When choosing between Spain and Portugal, Americans should consider lifestyle, cost of living, and visa options. Spain offers more advantages: a higher quality of life, excellent healthcare, and diverse cultural experiences, Spain also has more UNESCO World Heritage Sites and better international schools. Additionally, Spain´s Golden Visa process is faster and more efficient. Portugal, while having a lower cost of living and high safety, lacks the same level of cultural diversity and infrastructure. Both countries offer great climates and friendly communities, but Spain´s broader opportunities make it more attractive option for many Americans.

Q5: Will there still be a residence and work visa for Hispanic American and U.S. investors?

Yes, even if the Golden Visa is discontinued, Hispanic American and U.S. investors can still apply for other types of residence and work visas in Spain. Options include the Non-Lucrative Visa, which allows residency without work, and the Entrepreneur Visa for those starting a business. Additionally, the Work Visa is available for those with a job offer from a Spanish company. These alternatives ensure that investors can still live and work in Spain.

Q6. Once one obtains the golden visa, is it obligatory to stay in Spain?

No, it is not obligatory to stay in Spain after obtaining a golden visa. The visa allows you to reside and work in Spain, but there is no minimum stay requirement. However, to renew the visa, you must visit Spain at least once a year during the residency period and maintain your investment. The initial visa is valid for three years, and subsequent renewals are for five years each. 

Q8 Can they open a business or live in other European countries without any restriction, once the Golden Visa is granted?

Once granted a Golden Visa from Spain, holders can live and work in Spain without restrictions. However, this visa does not automatically grant the right to live or open a business in other European countries. Golden Visa holders can travel freely within Schengen Area for up to 90 days within any 180-day period. To live or start a business in another European country, they would need to comply with that country´s specific immigration and business regulations. 

Q9. What makes Echeverria Abogados different from all other immigration lawyers in Spain?

We are a top-tier immigration law firm who understands the complex immigration laws and regulations in Spain. We have a history of successful outcomes and we have proven our expertise and reliability for years. 

We create tailored strategies for our clients and we give a personalized attention to meet their needs and concerns.

We have strong connections with government agencies and legal professionals for efficient processing.

An excellent communication with our clients is one of the most important thing in our daily work. Clear and timely updates, ensuring clients are informed throughout the process.