Spain’s Golden Visa Has Been Cancelled: What Residency Options Are Available Now?
For many years, Spain’s Golden Visa was one of the easiest ways for non-EU citizens to obtain Spanish residency through investment. Purchasing property worth at least €500,000 could provide a residence permit without requiring the investor to live permanently in Spain.
That option is no longer available.
Spain officially ended the Golden Visa programme on 3 April 2025. However, this does not mean that moving to Spain—or purchasing property in the country—has become impossible. Retirees, remote workers, entrepreneurs, employees and families still have several viable routes to Spanish residency.
This guide explains what happened to the Golden Visa, what the cancellation means for existing investors and which Spanish residence permits may now provide the best alternative.
When Was the Spanish Golden Visa Cancelled?
The Golden Visa was regulated by Articles 63 to 67 of Spain’s Law 14/2013. Organic Law 1/2025 removed those provisions, with the change taking effect on 3 April 2025.
As a result, Spain no longer accepts new Golden Visa applications based on:
- The purchase of Spanish real estate
- Investments in Spanish government debt
- Shares or equity investments in Spanish companies
- Deposits with Spanish financial institutions
- Certain qualifying business investments
The cancellation applies to the entire investor-residence programme—not only to the property-based Golden Visa. (BOE)
What Happens to Existing Golden Visa Holders?
The cancellation does not automatically invalidate Golden Visas that were already granted.
Under the transitional rules:
- Applications submitted before 3 April 2025 may continue to be processed under the rules that applied when they were filed.
- Golden Visas and investor residence permits valid on 3 April 2025 remain valid until their stated expiry date.
- Renewal applications may be processed under the legislation that applied when the original permit was granted.
Existing holders will generally still need to demonstrate that they continue to satisfy the relevant conditions, including maintaining the qualifying investment where required. (BOE)
Anyone who already holds an investor permit should obtain individual legal advice before selling the qualifying property or restructuring the investment.
Can Foreigners Still Buy Property in Spain?
Yes. The end of the Golden Visa did not prohibit non-EU citizens from purchasing Spanish real estate.
Foreign buyers can still purchase a holiday home, rental property or permanent residence in Spain. The important difference is that buying property no longer creates an automatic route to Spanish residency.
A property purchase may still be useful as part of a relocation plan because it can demonstrate that the applicant has accommodation in Spain. However, the buyer must qualify separately for a residence permit.
The Main Alternatives to Spain’s Golden Visa
The right alternative depends on how you earn your income, whether you intend to work in Spain, how much time you plan to spend in the country and whether you are relocating alone or with family members.
1. Non-Lucrative Visa
The Non-Lucrative Visa is often the most suitable alternative for retirees, pensioners and financially independent individuals who do not need to work.
It permits the holder to live in Spain but does not provide permission to carry out employment, professional activity or remote work.
Applicants generally need to demonstrate:
- Sufficient savings, pension income or other reliable financial resources
- Private health insurance with an insurer authorised to operate in Spain
- A clean criminal record
- A qualifying medical certificate
- Suitable accommodation or a credible accommodation plan
The minimum financial requirement is normally equivalent to 400% of Spain’s IPREM for the main applicant, plus 100% of IPREM for each dependent family member.
Based on the 2026 IPREM figure used by Spanish consulates, this generally means at least:
- €28,800 per year for the main applicant
- An additional €7,200 per year for each dependent
Individual consulates may request additional evidence, such as bank statements, tax returns, pension certificates or an explanation of the source of funds. (Ministry of Foreign Affairs)
Best suited for:
- Retirees
- Pensioners
- People living from investments or savings
- Applicants who do not intend to work
- Property owners who want to live permanently in Spain
Important limitation
The Non-Lucrative Visa is not designed for digital nomads. Some consulates specifically require working-age applicants to prove that they will stop working, including remotely, after moving to Spain. (Ministry of Foreign Affairs)
2. Digital Nomad Visa
The Digital Nomad Visa is one of the strongest alternatives for people who work remotely for companies or clients outside Spain.
It is intended for non-EU nationals who use digital and telecommunications systems to perform their work from Spain for businesses located primarily abroad. (Inclusion and Migration Ministry)
Applicants may qualify as:
- Remote employees of a foreign company
- Freelancers working for international clients
- Owners or directors of foreign businesses who work remotely
Typical requirements include:
- An existing employment or professional relationship with a foreign company
- Evidence that the relationship has existed for at least three months before applying
- Confirmation that remote work from Spain is permitted
- Evidence that the foreign company has been operating for at least one year
- Relevant qualifications or sufficient professional experience
- Income meeting the required threshold
- Compliance with Spanish or applicable foreign social-security rules
- Health insurance, where required
The main applicant must demonstrate resources equivalent to at least 200% of Spain’s applicable minimum wage, with additional amounts required for accompanying family members. Because the minimum wage can change, applicants should confirm the exact figure and calculation method with the responsible Spanish consulate or immigration authority before filing. (Ministry of Foreign Affairs)
Self-employed digital nomads may carry out a limited proportion of their professional activity for Spanish clients, provided they continue to satisfy the international-work requirements.
Best suited for:
- Software developers
- Consultants
- Online business owners
- Marketing and technology professionals
- Remote employees
- Freelancers with established foreign clients
Main advantage
Unlike the Non-Lucrative Visa, the Digital Nomad Visa legally allows the applicant to continue working remotely while living in Spain.
3. Entrepreneur Residence Permit
The Entrepreneur Residence Permit remains available even though the investor programme has ended.
However, it should not be confused with the former Golden Visa. Simply investing money, opening a small company or purchasing a local business does not automatically qualify an applicant.
The project must normally be considered:
- Innovative
- Of particular economic interest to Spain
- Capable of creating employment or economic activity
- Supported by a credible and detailed business plan
Authorities may evaluate:
- The applicant’s education and professional experience
- The proposed product or service
- Market demand
- Financing
- Potential job creation
- The project’s technology or innovation
- Its economic contribution to Spain
The Entrepreneur Permit is handled through Spain’s Large Companies and Strategic Groups Unit, commonly known as the UGE. The UGE continues to process residence permits for entrepreneurs, highly qualified professionals, researchers, international remote workers and intra-company transfers. (Inclusion and Migration Ministry)
Best suited for:
- Startup founders
- Technology entrepreneurs
- Founders introducing an innovative service to Spain
- Businesses with credible growth and employment potential
Not normally suitable for:
- Passive property investment
- A standard rental-property business
- Opening a small shop without an innovative element
- Holding shares in a company without actively developing a qualifying project
4. Self-Employed Work Visa
Applicants planning to establish a more conventional business may consider the standard self-employed work route.
Unlike the Entrepreneur Permit, a self-employed business does not necessarily have to be highly innovative. However, the applicant must demonstrate that the proposed activity is genuine, financially viable and compliant with Spanish regulations.
The application may require:
- A detailed business plan
- Evidence of sufficient investment
- Professional qualifications or experience
- Licences or registrations required for the activity
- Financial forecasts
- Evidence that the business can support the applicant
- Information about potential employment creation
The applicant must normally obtain an initial residence and self-employed work authorisation before the visa is issued. (Ministry of Foreign Affairs)
Best suited for:
- Consultants
- Tradespeople
- Independent professionals
- Restaurant or retail business owners
- Service providers
- People establishing a conventional small or medium-sized business
5. Employee Work Permit
A person who receives a qualifying job offer from a Spanish employer may obtain residence through an employee work permit.
Under the standard process, the Spanish employer generally applies for the initial residence and work authorisation. The position, employer and candidate must satisfy the applicable immigration and labour-market requirements. (Ministry of Foreign Affairs)
Best suited for:
- Applicants with a confirmed Spanish job offer
- Workers in occupations where employers struggle to recruit locally
- Candidates covered by an applicable labour-market exception
- People recruited by an established Spanish company
This route can be more employer-dependent than the Digital Nomad Visa because the right to move to Spain is initially connected to the Spanish employment relationship.
6. Highly Qualified Professional or EU Blue Card
Senior professionals and specialists recruited by Spanish companies may qualify for a Highly Qualified Professional permit or an EU Blue Card.
These routes may be suitable for:
- Executives
- Engineers
- IT and cybersecurity specialists
- Medical and scientific professionals
- Senior financial professionals
- Managers and technical experts
- University graduates taking qualifying positions
Eligibility depends on factors such as the position, salary, qualifications, experience and the employing company. Spain’s UGE processes residence permits for highly qualified professionals and EU Blue Card holders. (Inclusion and Migration Ministry)
This route is generally more appropriate than the standard employee permit when the candidate is being recruited for a senior, specialised or strategically important role.
7. Family-Based Residence
Family relationships may provide another route to Spanish residence.
Options can include residence as:
- The spouse or registered partner of a Spanish citizen
- A qualifying stable partner of a Spanish citizen
- A child or dependent relative of a Spanish citizen
- A family member of an EU citizen living in Spain
- A family member being reunited with a non-EU legal resident
The requirements depend on the nationality and immigration status of the sponsoring person, as well as the exact family relationship.
Spain’s immigration regulations introduced a specific residence framework for qualifying family members of Spanish citizens and made other changes affecting family reunification. (Inclusion and Migration Ministry)
8. Student Residence Authorisation
Enrolling in a qualifying Spanish educational programme may provide a temporary route to live in Spain.
This may include:
- University degrees
- Master’s programmes
- Certain professional training courses
- Approved educational or research programmes
Depending on the type of programme and authorisation, students may be allowed to carry out compatible work under specific conditions.
After completing qualifying higher education in Spain, graduates may also be able to apply for a residence authorisation to search for suitable employment or develop a business project. The current job-search authorisation can permit a graduate to remain in Spain for up to 24 months, although it does not itself authorise employment during the search period. (Inclusion and Migration Ministry)
Which Golden Visa Alternative Is Best?
| Your situation | Potentially suitable option |
|---|---|
| Retired and receiving a pension | Non-Lucrative Visa |
| Financially independent and not working | Non-Lucrative Visa |
| Working remotely for a foreign employer | Digital Nomad Visa |
| Freelancer with international clients | Digital Nomad Visa |
| Launching an innovative startup | Entrepreneur Residence Permit |
| Opening a conventional local business | Self-Employed Work Visa |
| Receiving a job offer from a Spanish company | Employee Work Permit |
| Taking a senior or specialised position | Highly Qualified Professional Permit or EU Blue Card |
| Married to or partnered with a Spanish or EU citizen | Family-based residence |
| Planning to study in Spain | Student Residence Authorisation |
Can Property Buyers Use the Non-Lucrative Visa?
Yes, provided they satisfy all the immigration requirements.
Many former Golden Visa applicants may find that a combination of property ownership and a Non-Lucrative Visa works for their situation. For example, a retired couple can purchase a home in Spain and then apply for residence based on their pension, savings and health insurance.
However, purchasing an expensive property does not reduce or replace the visa’s financial, insurance, criminal-record or medical requirements.
Can Property Buyers Use the Digital Nomad Visa?
Yes. Owning property does not prevent someone from applying for a Digital Nomad Visa.
A remote worker could purchase a property in Spain and apply based on their foreign employment or professional activity. The immigration application would be assessed primarily on the applicant’s work, income, qualifications and social-security arrangements—not on the value of the property.
Does a Spanish Residence Permit Lead to Permanent Residence?
Many legal residence permits can eventually contribute towards eligibility for long-term residence, provided the applicant genuinely lives in Spain and complies with the continuity and absence rules.
This is an important difference from the former Golden Visa, which was particularly attractive to investors who wanted residency flexibility without relocating permanently.
Anyone whose long-term objective is permanent residence or Spanish citizenship should choose a permit that matches their actual lifestyle and should carefully monitor:
- Time physically spent in Spain
- Absences from Spanish territory
- Permit-renewal conditions
- Tax residence
- Social-security obligations
- Changes in employment or family circumstances
Immigration residence and tax residence are separate legal matters. Obtaining a Spanish residence permit may have significant tax consequences, so cross-border tax planning should be completed before relocating.
What Should Former Golden Visa Applicants Do Now?
The first step is to identify the main reason for moving to Spain.
Ask the following questions:
- Will you continue working after relocating?
- Will your income come from a foreign employer, international clients, a pension or investments?
- Do you plan to establish a business in Spain?
- Are you moving permanently or only spending part of the year in Spain?
- Will a spouse, partner, children or dependent parents move with you?
- Are you prepared to become a Spanish tax resident?
- Is permanent residence or citizenship part of your long-term plan?
The answers will normally determine whether the Non-Lucrative Visa, Digital Nomad Visa, work permit, entrepreneur route or family-based residence is the most realistic option.
Final Thoughts
The cancellation of Spain’s Golden Visa closed the country’s direct residence-by-investment route, but it did not close Spain to foreign property buyers or international newcomers.
Spain continues to offer practical residence options for:
- Retirees with sufficient financial resources
- Remote employees and freelancers
- Entrepreneurs and business owners
- Highly qualified professionals
- Employees of Spanish companies
- Students
- Family members of Spanish, EU and legal non-EU residents
The most important change is that applicants must now qualify based on their personal, professional, financial or family circumstances rather than simply through the value of an investment.
A successful relocation therefore requires more planning—but for many newcomers, Spain remains one of Europe’s most attractive places to live, work, retire and build a business.