Starting a new life in a foreign country is something millions of people dream of. The majority of people stop there, but plenty follow it through and relocate to a different country. IOM data shows that, on average, one in every 30 people is a migrant [1], meaning an estimated 281 million people are living in countries they weren’t born in.
Brits in the Canary Islands contribute to this figure. Despite a dip in recent years, Statista data shows that over 284,000 British people were living in Spain in 2023. The influx of Brits has been fairly consistent over the last few decades, but that is changing since Brexit. Visa changes mean that it is getting tougher for Brits to move to Spain and the Canary Islands.
The much-lauded Golden Visa looks set to change. The Spanish government signalled its desire to alter the program that allowed non-EU nationals to become residents by purchasing property worth at least €500,000.
Prime Minister Pedro Sánchez said in April that changing the requirements will “guarantee that housing is a right and not merely the subject of business speculation” for foreign nationals.
The Golden Visa won’t disappear. People will still be able to obtain one by investing in shares and government bonds, as well as other selected financial instruments. They won’t, however, be able to get a visa by simply purchasing property.
Of course, this isn’t the only way to legally relocate to Spain. As well as the non-lucrative residency visa programme, you could apply for an employment visa if you’re a non-EU resident.
Like the UK, there are various types of Spanish employment visas. For example, the highly qualified visa is equivalent to the UK Skilled Worker visa. As per the conditions of the UK Skilled Worker visa, applicants must be educated to a certain level, have an offer from a licenced employer in approved roles and meet the minimum salary requirement.
Similarly, Spain’s highly qualified visa is only suitable for people with at least three years of work experience or a four-year degree. Additionally, the job role must meet certain requirements and the company you’re joining needs to have a minimum number of employees or revenue.
Knowing the conditions for specific visas is important, but what’s equally as important is understanding the fluid nature of regulations.
Changes to the Golden Visa are echoed across countries in the EU. Indeed, as economies and European travel laws change [2], so do immigration policies. Requirements for the UK Skilled Worker visa were updated in April 2024. The minimum level of education was reduced (to RQF Level 3), while the minimum salary for the majority of roles was increased (to £38,700 per year or your job's going rate, whichever is higher). Similar changes could be made to Spain’s highly qualified visa, given that Golden Visa rules may soon be different.
The point here is that visa requirements can and do change. Therefore, if you’re someone who dreams of living abroad, don’t assume that moving will be easy based on past data. The idea that retiring to Spain is easy simply because someone you know did it 10 years ago doesn’t hold water today.
That’s not to say it’s impossible; it’s simply that the rules have changed. As long as you’re aware of this, you’ll give yourself the best opportunity to relocate, whatever stage of life you’re at.
