UGLOBAL . COM 67
NON-LUCRATIVE VISA : THE BEST SECOND OPTION
Terminating the Golden Visa program will have short- and longterm effects on the flow of foreign investments . However , Spain will remain an attractive destination for investment and living due to its high quality of life and relatively low cost of living , especially compared to other European countries . Foreign nationals planning to relocate to Spain must secure an alternative path to obtain legal residence . The non-lucrative visa is often the second-best route for medium -and-high-HNWIs . However , foreign nationals are required to live in Spain for at least six months per year under this option .
For those still interested in the Golden Visa option , the recommendation is to speed up the process of acquiring a real estate property and file their applications for legal residence before April 3 , 2025 .
BY ALEXANDRE RANGEL
Alexandre Rangel is the CEO of Grupo SIEspaña , a firm with offices in Miami and Madrid , specializing in individual and corporate immigration services to Spain . Grupo SIEspaña offers foreign nationals a one-stop shop for all their legal and real estate matters through strategic alliances in Spain . Rangel ’ s legal immigration career started over 20 years ago in law firms in the U . S . In 2013 , he learned the benefits of the Spanish non-lucrative residency and became the main promoter of this residence option in Latin America .