Tax, economy, and demographics

Dimension	Hong Kong	Spain
Corporate income tax	16.5%Moderate	25%Very high
Corporate tax basis	Pure territorialPure territorial	WorldwideWorldwide
Personal income tax (marginal)	17%Low	47%High
Personal tax basis	TerritorialTerritorial	WorldwideWorldwide
Population	7.5 M	49.6 M×6.60
Area	1,114 km²	505,990 km²×454
Population density	6,741 /km²	98 /km²
Capital	Hong Kong	Madrid
Currency	HKD (Hong Kong dollar)	EUR (Euro)
Main airport	HKG (Hong Kong International Airport)	MAD (Adolfo Suárez Madrid-Barajas Airport)
Phone code	+852	+34
Internet TLD	.hk	.es

Visa access controls

Your access

Pick your nationality above to see how long you can stay in each country and whether you need a visa.

Passport power

Mobility strength of each country's passport, useful if you are weighing it as a future citizenship.

Hong Kong passport

#13

Henley rank

174

Visa-free destinations

• Schengen visa-free
• UK visa-free
• Canada eTA
• Australia eTA

Spain passport

#4

Henley rank

185

Visa-free destinations

• Schengen visa-free
• UK visa-free
• US ESTA
• Canada eTA
• Australia eTA

Verdict

For professionals who prioritize tax freedom index, Hong Kong leads with 9.0 / 10 versus 3.3 / 10 for Spain. On wealth protection index, Hong Kong is at 9.3 / 10 compared with 5.8 / 10 for Spain.

Frequently asked questions

• Hong Kong

  Can foreign residents open bank accounts and deploy capital in Hong Kong without friction?

  Hong Kong has no foreign exchange controls. The Basic Law provides that the Hong Kong dollar is freely convertible and that the Government safeguards the free flow of capital within, into and out of Hong Kong. Friction in practice occurs not at the capital-control level but at the banking, AML, tax-reporting and product-access level. Hong Kong remains the leading offshore renminbi hub, processing consistently over 70% of global offshore RMB payments and holding around RMB 1 trillion in offshore RMB deposits and certificates of deposit according to HKMA and SWIFT data. Foreign residents open personal accounts with HSBC, Standard Chartered, Bank of China Hong Kong and Hang Seng Bank, or with one of the eight HKMA-licensed digital banks formerly designated as virtual banks under the revised HKMA Guideline of 25 October 2024, namely ZA Bank, Mox Bank, livi Bank, WeLab Bank, Airstar Bank, Ant Bank, Fusion Bank and PAOBank. Requirements vary by institution and risk profile. Banks request identity documents that may include a Hong Kong identity card or a travel document depending on the institution, address information, tax-residency self-certification under CRS/AEOI and FATCA documentation where applicable, plus source-of-funds or source-of-wealth evidence depending on the profile. Customer due diligence and ongoing monitoring are mandatory under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615), and banks may apply additional group-level or foreign regulatory standards. Hong Kong is a FATF member and the 2019 FATF/APG mutual evaluation rated its AML/CFT system as sound and effective overall while identifying areas for improvement. Non-resident corporate account opening is selective and risk-based, with banks typically requesting beneficial ownership information, proof of business activity, expected transaction flows, source of funds and evidence of a commercial nexus with Hong Kong. Onboarding timelines vary materially with applicant status, nationality, tax profile and documentation quality, and are not standardised. Foreign nationals can purchase private residential property in Hong Kong. The Buyer's Stamp Duty (BSD), Special Stamp Duty (SSD) and New Residential Stamp Duty (NRSD) were abolished for instruments executed on or after 28 February 2024 under the Stamp Duty (Amendment) Ordinance 2024. Buyers remain subject to ad valorem stamp duty under Scale 2, with the HKD 100 lowest band raised from HKD 3M to HKD 4M with effect from 26 February 2025 under the Stamp Duty (Amendment) Ordinance 2025, and a graduated scale up to 4.25% above HKD 21,739,120. The Stamp Duty (Amendment) Bill 2026 was gazetted on 6 March 2026 and introduced into the Legislative Council on 18 March 2026 for first reading, proposing to raise the AVD rate on residential property valued above HKD 100M from 4.25% to 6.5% with retroactive effect from 26 February 2026. Pending enactment, the Inland Revenue Department continues to charge stamp duty at the prevailing 4.25% rate, with the difference between the rates becoming payable within 30 days of gazettal of the amendment ordinance once the bill is passed by the Legislative Council. The Securities and Futures Commission (SFC) regulates securities and futures market activity, with retail access to listed equities, ETFs, REITs, debt securities, structured products, futures and options through regulated channels. OTC derivatives are subject to a dedicated HKMA/SFC reporting, clearing, trading and record-keeping regime, while access to complex, structured or non-listed products remains governed by licensing, conduct, suitability and, in many cases, professional-investor constraints. Crypto access is regulated under a dual licensing framework, with SFC Type 1 and Type 7 licences under the Securities and Futures Ordinance for security tokens and a VATP licence under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance for non-security tokens. Since 1 June 2023, retail access to virtual assets has been legally possible through SFC-licensed VATPs, subject to SFC investor-protection measures, large-cap token eligibility restrictions and platform-specific approvals, with the SFC maintaining an official list of licensed VATPs. The inward Company Re-domiciliation Regime was put in place by the Companies (Amendment) (No. 2) Ordinance 2025, gazetted on 23 May 2025, and allows eligible non-Hong Kong incorporated companies to transfer domicile to Hong Kong without creating a new legal entity and without disrupting legal identity or business continuity. Unilateral tax credits under Schedule 17L of the Inland Revenue Ordinance are available where a re-domiciled company has paid, in its place of incorporation, a tax of substantially the same nature as Hong Kong profits tax on unrealised income or profit because of the re-domiciliation and Hong Kong profits tax later applies to the corresponding realised income or profit, with the credit capped at the lower of the specified tax paid or the Hong Kong profits tax payable on the relevant income.

• Spain

  Can foreign residents open bank accounts and deploy capital in Spain without friction?

  Spain is a European Union (EU) and euro-area banking jurisdiction operating under the Single Supervisory Mechanism (SSM), in which the European Central Bank (ECB) directly supervises significant institutions while the Banco de España oversees less significant banks and macroprudential policy, the Comision Nacional del Mercado de Valores (CNMV) supervises securities markets and investment services, and Sepblac acts as the financial intelligence unit and anti-money laundering and counter-terrorist financing supervisory authority. The largest domestic banks by assets are Santander, CaixaBank, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and Bankinter, followed by Unicaja, Abanca, Kutxabank and Ibercaja and a layer of cooperative and rural banking groups, while international institutions such as HSBC, Citi, Deutsche Bank and BNP Paribas operate mainly through corporate, institutional, private banking and wealth management arms rather than full mass-retail networks. Spain applies the EU anti-money laundering framework through Ley 10/2010 of 28 April, with the new EU package of Regulation (EU) 2024/1624 and Directive (EU) 2024/1640 taking effect mainly from 10 July 2027 under phased transposition and application dates. Foreign residents and non-residents can open Spanish accounts, but onboarding is risk-based rather than frictionless, with institutions requiring identity documents, proof of resident or non-resident status, the Numero de Identidad de Extranjero (NIE) where applicable, proof of address and evidence of economic activity, and higher-value, private banking, complex-structure, foreign-wealth or politically exposed profiles triggering enhanced due diligence with source-of-funds and source-of-wealth evidence. Processing times are not fixed by law and depend on the institution, the client profile and the completeness of documentation. Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) reporting is fully operational. Cryptoassets are legal and taxed under ordinary Spanish rules, and the Markets in Crypto-Assets (MiCA) framework applies, with the CNMV as the competent authority for crypto-asset service provider authorization and the Banco de España retaining functions over e-money and asset-referenced token issuers. The Banco de España legacy provider registry stopped accepting new entries on 30 December 2024, and the Spanish transition window for pre-existing providers runs to 30 June 2026. Capital movements within the EU and between Spain and third countries are free under Article 63 of the Treaty on the Functioning of the European Union (TFEU), subject to anti-money laundering controls, sanctions and tax reporting. Physical means of payment, meaning cash and bearer instruments, must be declared on form S-1 under Article 34 of Ley 10/2010 from EUR 10,000 when entering or leaving Spain and from EUR 100,000 for internal movements within Spanish territory, while bank transfers are not subject to this cash declaration. Spanish tax residents may also face the Modelo 720 informative return on foreign assets above EUR 50,000 per reportable category, covering foreign accounts, securities and rights, and real estate, and the Modelo 721 informative return on cryptoassets situated abroad above EUR 50,000, meaning cryptoassets custodied by non-resident providers, with self-custody wallets outside its scope. Foreign nationals can acquire Spanish real estate without a general nationality-based prohibition, subject to the NIE, tax, anti-money laundering, notarial and land registry formalities. The main exception is the restricted foreign-ownership zones under Ley 8/1975 and Royal Decree 689/1978, which require military authorization and are far broader than isolated military perimeters, covering insular territories, Cartagena, the Strait of Gibraltar, the Bay of Cadiz, the Portuguese and French border areas, Galicia and the Spanish territories in North Africa, with EU citizens exempt from this authorization and European Economic Area (EEA) nationals generally treated as equivalent in practice. Agricultural land carries no general nationality-based restriction but remains subject to ordinary land, planning, environmental and defense-zone rules. Mortgage financing is available to foreign buyers as a matter of market practice rather than right and is profile-dependent, with EU non-residents commonly accessing 60 to 70 percent loan-to-value and non-EU buyers more often 50 to 60 percent, under fixed, variable or mixed structures rather than only Euribor-linked pricing. Capital deployment into Spanish equities, bonds and funds is open to non-residents through regulated intermediaries, and withholding tax can be reduced under an applicable double tax treaty, although treaty relief requires a certificate of tax residence and is not automatic.

• Hong Kong

  How does taxation apply to residents and foreign-source income in Hong Kong?

  Hong Kong applies a territorial source principle for both individuals and corporations. Salaries tax under the Inland Revenue Ordinance Cap. 112 covers only employment income arising in or derived from Hong Kong, irrespective of residency status. Tax residency itself does not trigger worldwide taxation. Salaries tax progresses from 2% to 17% on net chargeable income, capped at the two-tiered standard rate of 15% on the first HKD 5M of net income and 16% above without allowances, effective from year of assessment 2024/25 under the Inland Revenue (Amendment) (Tax Concessions and Two-tiered Standard Rates) Ordinance 2024. The taxpayer pays the lower of the two computations. There is no capital gains tax, no dividend tax, no inheritance tax (estate duty abolished 11 February 2006), no general value-added tax. Mandatory MPF contributions are 5% of relevant income capped at HKD 1,500 per month. Profits tax operates on a two-tiered basis since 1 April 2018 (sections 14AA-14AB IRO). Corporations pay 8.25% on the first HKD 2M of assessable profits and 16.5% above, unincorporated businesses pay 7.5% and 15%. Only one entity per group of connected entities can elect the two-tiered rates per year of assessment. Major sectoral concessionary regimes apply. 0% profits tax on eligible carried interest received by qualifying persons and a 100% salaries tax exclusion for qualifying employees providing investment management services to certified investment funds under the Inland Revenue (Amendment) (Tax Concessions for Carried Interest) Ordinance 2021, retroactive from 1 April 2020. 5% Patent Box rate on qualifying IP income with OECD nexus computation, effective YA 2023/24 and gazetted 5 July 2024, with a local registration requirement effective 5 July 2026 imposing that foreign patents and plant variety rights filed on or after that date require corresponding Hong Kong registration under the Patents Ordinance Cap. 514 to remain eligible. The Family-owned Investment Holding Vehicle (FIHV) regime grants 0% profits tax under Schedule 16E IRO (effective YA 2022/23) on qualifying transactions, requiring HKD 240M qualifying assets at family level, an eligible Single Family Office in Hong Kong with at least 2 full-time qualified employees and HKD 2M annual local operating expenditure. The 2026-27 Budget (25 February 2026) proposed expanding FIHV, Unified Funds Exemption (UFE) and Carried Interest qualifying investments to digital assets, precious metals, specified commodities, loan and private credit investments, and other assets, with the amendment bill expected in the first half of 2026 and targeted implementation from YA 2025/26 subject to LegCo passage. Other corporate concessions cover aircraft and ship leasing, treasury management and fund vehicles. An 8.25% concessionary rate applies to qualifying profits of aircraft lessors and aircraft leasing managers under Schedule 17F IRO, with a one-off 100% deduction of aircraft acquisition cost replacing the prior 20% tax base concession for aircraft acquired in YA 2023/24 or later under the Inland Revenue (Amendment) (Aircraft Leasing Tax Concessions) Ordinance 2024. 0% applies to qualifying ship lessors and 0% or 8.25% to ship leasing managers depending on whether the lessor is associated or non-associated (effective 19 June 2020). An 8.25% Corporate Treasury Centre rate applies under section 14D IRO since 1 April 2016. The full 0% Unified Funds Exemption regime covers hedge funds, OFCs and Limited Partnership Funds for qualifying transactions in Schedule 16C assets (effective 1 April 2019, sections 20AM to 20AY IRO). The Onshore Equity Disposal Tax Certainty Scheme treats onshore equity disposal gains as capital in nature where an eligible investor entity has held at least 15% of the investee entity for a continuous period of at least 24 months immediately before disposal, subject to exclusions for insurers and certain property-related investee entities (effective 1 January 2024). Since 1 January 2023 (further refined 1 January 2024), the FSIE regime restricts the territorial exemption for in-scope MNE entities on offshore interest, dividends, IP income and disposal gains, requiring economic substance, nexus or participation conditions. A 15% Hong Kong Minimum Top-up Tax (HKMTT), the Qualified Domestic Minimum Top-up Tax under OECD Pillar Two, applies to MNE groups with consolidated revenue of EUR 750M or above for fiscal years beginning on or after 1 January 2025 under the Inland Revenue (Amendment) (Minimum Tax for Multinational Enterprise Groups) Ordinance 2025 gazetted 6 June 2025. Hong Kong has obtained OECD transitional qualified status from 1 January 2025 and operates a Pillar Two Portal for top-up tax notifications. R&D super deduction at 300% on the first HKD 2M and 200% on the balance applies under section 16B IRO. Hong Kong has signed 57 comprehensive double taxation agreements as at March 2026, distinct from the People Republic of China DTA network.

• Spain

  How does taxation apply to residents and foreign-source income in Spain?

  Spain operates a worldwide taxation system for both companies and individuals, modulated by a dense network of special regimes and the 95 percent participation exemption mechanism. The general corporate income tax (CIT) rate is 25 percent under Ley 27/2014, the Corporate Income Tax Law (LIS), but Ley 7/2024 added a transitional reduced-rate schedule under the new Disposicion Transitoria 44 LIS effective 1 January 2025: microenterprises with turnover below EUR 1 million are taxed on a progressive scale (21 percent on the first EUR 50,000 and 22 percent on the rest in 2025, falling to 17 and 20 percent from 2027), and small companies with turnover below EUR 10 million move from 24 percent in 2025 down to 20 percent by 2029. Emerging companies certified by the Empresa Nacional de Innovacion (ENISA) under Ley 28/2022 are taxed at 15 percent for the first profitable year plus the 3 following, with deferral of CIT payment for the first 2 profitable years and exemption from fractional payments. The Canary Islands Special Zone (ZEC) under Ley 19/1994 applies a 4 percent corporate rate on income from activities materially carried out in the Canary Islands, capped at EUR 1.8 million plus EUR 500,000 per additional employee above the statutory minimum, requiring at least one Canary-resident director, EUR 100,000 (Tenerife, Gran Canaria) or EUR 50,000 (other islands) of fixed-asset investment within 2 years and 5 or 3 jobs created within 6 months, with new entity registrations authorized until 31 December 2026 and tax benefits available until 31 December 2032 subject to the EU State aid framework. The Patent Box under Article 23 LIS grants a 60 percent reduction on net income from licensing or sale of qualifying intangibles (patents, utility models, legally protected designs and models, and advanced registered software derived from research and development), excluding trademarks, ordinary software, secret formulas and procedures and commercial know-how, under the OECD Modified Nexus Approach, dropping the effective rate to approximately 10 percent. The Entidad de Tenencia de Valores Extranjeros (ETVE) holding regime under Articles 107 to 108 LIS combined with the Article 21 LIS participation exemption taxes qualifying foreign dividends and capital gains at approximately 1.25 percent (5 percent of 25 percent) and exempts outbound distributions to non-resident shareholders. Personal income tax is progressive. The state scale tops at 24.5 percent above EUR 300,000 of general income, and adding the autonomous community scale produces a combined top rate of 47 percent under the default reference, ranging by region from 45 percent in Madrid to 50 percent in Catalonia, 51.5 percent in La Rioja and 54 percent in the Valencian Community. Savings income (dividends, interest, capital gains) is taxed at 19 percent up to EUR 6,000, 21 percent up to EUR 50,000, 23 percent up to EUR 200,000, 27 percent up to EUR 300,000 and 30 percent above, the top bracket having risen from 28 to 30 percent under Ley 7/2024 effective 1 January 2025. The Beckham Law under Article 93 of the Personal Income Tax Law (LIRPF), expanded by Ley 28/2022 effective 1 January 2023, allows qualifying inpatriates with no Spanish tax residence in the prior 5 tax years to be taxed under Non-Resident Income Tax (IRNR) rules at a flat 24 percent up to EUR 600,000 and 47 percent above for 6 tax years. Employment and entrepreneurial business income is taxed wherever it arises, while foreign-source passive income such as dividends, interest and capital gains stays outside the Spanish tax net. The 2023 reform extended Beckham to employee digital nomads, entrepreneurs with ENISA certification and highly qualified professionals serving startups, plus spouses and children under 25. Spain levies wealth tax on worldwide assets above EUR 700,000 (with a EUR 300,000 primary residence allowance) and progressive rates from 0.2 to 3.5 percent, with material autonomous community variation. Madrid and Andalusia maintain a 100 percent rebate that neutralizes ordinary wealth tax for net worth below the large-fortune threshold, but since 2023, under Madrid Ley 12/2023 and the equivalent Andalusian measure, that rebate becomes a variable one for taxpayers liable to the federal large-fortune tax, so net worth above EUR 3 million is effectively taxed regionally rather than escaping wealth taxation. The Balearic Islands raised their exemption to EUR 3 million effective 1 January 2024 and Valencia to EUR 1 million, while Catalonia maintains a EUR 500,000 exemption with the highest progressive rates. The Impuesto Temporal de Solidaridad de las Grandes Fortunas (ITSGF), introduced for the 2022 and 2023 tax years as a federal anti-arbitrage floor on net worth above EUR 3 million and extended by Real Decreto-ley 8/2023 until wealth taxation is reformed within the regional financing system, applies regardless of region with credit for regional wealth tax paid. Inheritance and gift tax applies with major regional variation, effectively near-zero for close family in Madrid, Andalusia and the Valencian Community (the last through a 99 percent bonus on Groups I and II since 28 May 2023 under Ley 6/2023), while Catalonia and a few other communities such as Asturias can remain materially more expensive for larger estates depending on the relationship and estate size. Capital gains on principal residence sale are exempt under reinvestment rules. Spain has an extensive double tax treaty network covering all major OECD jurisdictions, comprehensive Latin American coverage given language and historical ties, and full Parent-Subsidiary and Interest-Royalties Directive access within the EU.

• Hong Kong

  What long-term residence options exist in Hong Kong for internationally mobile individuals?

  Hong Kong operates a structured set of admission schemes administered by the Immigration Department under the Immigration Ordinance Cap. 115. The Top Talent Pass Scheme (TTPS), launched 28 December 2022, accepts three categories without prior job offer. Category A targets annual income of HKD 2.5M or above (defined by the Immigration Department as taxable employment or business income), with a 36-month initial stay in effect from 16 October 2024 (previously 24 months). Category B covers degree graduates of eligible universities on the aggregate list (200 institutions effective 1 January 2026, up from 199) with at least 3 years of work experience, 24 months initial stay. Category C targets recent graduates with under 3 years of experience and is subject to an annual quota allocated on a first-come first-served basis. TTPS does not apply to nationals of Afghanistan, Cuba and Korea (DPRK). The Quality Migrant Admission Scheme (QMAS) had its General Points Test (GPT) enhanced with effect from 1 November 2024, replacing the prior item-by-item scoring (245 points maximum, 80 passing threshold) with a binary assessment questionnaire of 12 criteria across six aspects (age, academic qualifications, language proficiency, work experience, annual income, business ownership), with a passing threshold of 6 criteria. No annual quota under the enhanced GPT, 36 months initial stay. The General Employment Policy (GEP) is the standard employer-sponsored route, quota-free, with streamlined processing for the 60 professions of the Talent List updated 1 March 2025. The Admission Scheme for Mainland Talents and Professionals (ASMTP) broadly mirrors GEP for Chinese nationals residing in the Mainland. The Technology Talent Admission Scheme (TechTAS) operates through quotas allocated to sponsoring companies by the Innovation and Technology Commission, with each company normally allotted up to 100 quotas per year. Following the enhancement measures effective 24 December 2025, the requirement to engage in R&D in the previously designated 14 technology areas was lifted, and a parallel quota plus visa application procedure was introduced. Initial stay of 36 months on employment condition. The New Capital Investment Entrant Scheme (New CIES), effective 1 March 2024, requires HKD 30M minimum, of which HKD 27M in permissible financial assets or eligible real estate, plus HKD 3M placed in the CIES Investment Portfolio managed by Hong Kong Investment Corporation Limited. Effective 17 September 2025, the aggregate real estate cap was raised from HKD 10M to HKD 15M, but the countable residential property amount remains capped at HKD 10M and the qualifying single residential unit transaction price was lowered from HKD 50M to HKD 30M. The 1 March 2025 reform allows investments held through a Family-owned Investment Holding Vehicle or Family-owned Special Purpose Entity managed by an eligible Single Family Office (assets of HKD 240M or above under Schedule 16E of the Inland Revenue Ordinance). The 1 March 2026 update removed the six-month minimum incorporation period for the eligible private holding company, allowing applicants to use recently incorporated vehicles for asset allocation. Cumulative metrics as at 28 February 2026: approximately 3,166 applications received with anticipated investment of about HKD 95Bn, of which 1,762 applicants have completed their investments and received formal approval. Initial stay of 24 months, extensions of up to three years renewable subject to portfolio maintenance. Investment as Entrepreneurs (under the GEP framework) requires a detailed business plan covering source of funds, expected turnover and local job creation in the coming years, with no statutory minimum capital. The Admission Scheme for the Second Generation of Chinese Hong Kong Permanent Residents (ASSG) targets overseas-born applicants aged 18 to 40 with at least one parent holding a valid Hong Kong Permanent Identity Card and who was a Chinese national settled overseas at the time of the applicant's birth. The Immigration Arrangements for Non-local Graduates (IANG) grant 24 months to graduates of full-time locally-accredited Hong Kong programmes or Greater Bay Area campus graduates, with extension on a 3-3 year pattern. The Vocational Professionals Admission Scheme (VPAS) is a pilot covering 34 VTC Higher Diploma programmes across 12 trades for 2025-26 (13 trades from 2026-27), with first applications opening upon graduation of the inaugural cohort in mid-2026, excluding nationals of Afghanistan, Cuba, Laos, Korea (DPRK), Nepal and Vietnam. The Working Holiday Scheme covers 13 partner countries for nationals aged 18 to 30 (Australia 5,000, Japan 1,500, UK 1,000, Korea 1,000, France 750, Germany 300, Sweden 500, New Zealand 400, Canada 193, Hungary 200, Ireland 200, Austria 100, Netherlands 100), single-use, 12 months, not normally renewable. All pathways converge on a seven-year continuous ordinary residence requirement to apply for right of abode, which is not automatic. For New CIES entrants specifically, maintaining the financial requirements throughout seven years does not by itself confer permanent residence. Where the continuous ordinary residence test is not satisfied, applicants may seek unconditional stay after the seventh year. The Top-tier Employment Stream grants an extension on time limitation only after 2 years of stay and HKD 2M annual assessable income for salaries tax. Duration varies by scheme of origin, with 6 years under TTPS, IANG and ASSG, and 5 years under GEP, ASMTP, QMAS and TechTAS. From 1 March 2026, the extension filing window expanded from 4 weeks to 3 months before expiry of stay across GEP, ASMTP, TechTAS, IANG, QMAS and ASSG, with TTPS already aligned since 1 November 2024.

• Spain

  What long-term residence options exist in Spain for internationally mobile individuals?

  Spain offers four particularly relevant long-term residence routes for internationally mobile non-EU nationals, following the abolition of the Golden Visa on 3 April 2025 by Ley Orgánica 1/2025 of 2 January 2025, which left Articles 63 to 67 of Ley 14/2013 without content rather than formally repealing them. The Digital Nomad Visa (DNV), created by the Ley 28/2022 Startup Act in force since 23 December 2022 and codified in Chapter V bis of Ley 14/2013, is the canonical route for non-EU remote workers and freelancers serving foreign companies. It requires a 2026 minimum income of EUR 2,849 per month for the main applicant, equal to 200 percent of the Spanish minimum wage (SMI) on its annualized 12-payment basis of EUR 1,424.50 per month, the SMI itself being set at EUR 1,221 per month over 14 payments by Royal Decree 126/2026, with EUR 1,069 added for the first dependent and EUR 356 for each additional family member. Applicants must hold a degree from a recognized institution or document at least 3 years of relevant professional experience, and salaried applicants may work only for companies located outside Spain while self-employed applicants may bill Spanish clients for no more than 20 percent of their total professional activity. The DNV consular visa under Article 74 quater is valid for up to 1 year, and within 60 calendar days before its expiry the holder may apply in Spain through the Unidad de Grandes Empresas y Colectivos Estratégicos (UGE-CE) for the residence authorization under Article 74 quinquies, valid for up to 3 years and renewable in 2-year periods, with eligibility for long-term residence after 5 years of continuous legal residence. The Non-Lucrative Visa, now governed by Articles 61 to 64 of Royal Decree 1155/2024, the general immigration regulation in force since 20 May 2025 that replaced Royal Decree 557/2011, targets retirees and financially independent individuals with sufficient savings, assets or periodic income and no work permitted in Spain. It requires 400 percent of the Indicador Público de Renta de Efectos Múltiples (IPREM), equal to EUR 28,800 per year, plus 100 percent of the IPREM, equal to EUR 7,200 per year, for each dependent. Initial validity is 1 year and renewals run in 2-year periods, with renewal conditioned since the 2025 reform on having resided in Spain for more than 183 days in the calendar year under Article 64.2.f of the regulation. The Highly Qualified Professional permit under Article 71 of Ley 14/2013, as amended by Ley 11/2023 transposing Directive (EU) 2021/1883, is the fast-track salaried route, processed by the UGE-CE within 20 working days with approval by positive administrative silence if no decision is issued, valid for 3 years and renewable for 2 years, the 2023 reform having removed the former employer size and turnover thresholds. The Entrepreneur Visa under Article 69 of Ley 14/2013 requires a favorable report from the Empresa Nacional de Innovación (ENISA) assessing the innovation, scalability and viability of the project. There is no fixed statutory minimum capital, the authorization is valid for 3 years and renewable for 2 years, and family members may apply jointly and obtain residence and work rights, with their status remaining linked to the principal holder. All four routes count toward long-term residence after 5 years of continuous legal residence and toward Spanish citizenship after 10 years, reduced to 2 years for nationals of Ibero-American countries, Andorra, the Philippines, Equatorial Guinea, Portugal and Sephardic Jews of Spanish origin, provided the residence is legal, continuous and immediately prior to the application. Existing Golden Visa holders are unaffected by the abolition, since applications filed before 3 April 2025 continue under the prior rules and authorizations already granted retain their validity and may be renewed under the rules in force at the time of the original grant.

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