With Spain’s Golden Visa scheme abolished in April, the path for wealthy non-EU nationals has changed dramatically. What was once a straightforward way to place capital in the country has become a complex mix of tax obstacles and strict residency rules. Yet high-net-worth individuals have not been deterred: many are now turning to Spain’s digital nomad visa – a model never designed for investors in the first place.
Spa.in Press
Digital nomads instead of privileged investors
The end of the Golden Visa has created a vacuum. For years, the scheme allowed applicants to obtain a residence permit through property purchases or other investments without the need to live in Spain permanently or become tax resident.
Today, many are resorting to the remote-work visa. It grants temporary residency as long as the applicant works for a foreign company, can prove an annual income of between €40,000 and €150,000, and holds a recognised qualification.
But the model has clear limits. Upon renewal, the 183-day rule applies – meaning the individual automatically becomes a Spanish tax resident.
Das Beckham-Gesetz, das fünf Jahre lang einen pauschalen Steuersatz von 24 % auf spanische Einkünfte gewährt, lindert diese Belastung nur vorübergehend – im Gegensatz zu den früher unbegrenzt verlängerbaren Golden Visa.
Der neue Umweg: Unternehmer durch die Hintertür
The digital nomad visa has now evolved into a preferred route of entry for investors.
Although Spain’s entrepreneur visa would theoretically be the correct instrument, its administrative requirements are widely seen as excessively strict and unrealistic, leaving many applicants discouraged before even applying. The non-lucrative visa, designed mainly for wealthy retirees, is equally unsuited to those wishing to invest or develop business projects in Spain.
As a result, many opt for the most pragmatic solution: they arrive initially as digital nomads and only establish their companies after settling in Spain.
Most foreign investors now entering Spain via the digital nomad visa come from the United States, Latin America and the United Kingdom.
