Immigration

Spain Golden Visa Is Closed: What Residency Options Replace It?

Spain’s Golden Visa is no longer available to new applicants. The Spain Golden Visa programme ended on 3 April 2025, which means purchasing a €500,000 property—or making another qualifying investment—no longer provides a route to Spanish residence.

However, the cancellation did not prevent foreigners from buying property in Spain, and it did not eliminate Spain’s other immigration pathways.

Retirees, remote workers, entrepreneurs, employees, students and qualifying family members can still obtain Spanish residence. The correct alternative now depends on the applicant’s income, work, family situation and plans for living in Spain—not simply the value of an investment.

Spain Golden Visa Cancellation: Key Facts

Question	Answer
Is Spain accepting new Golden Visa applications?	No
When did the programme close?	3 April 2025
Can foreigners still buy Spanish property?	Yes
Does buying property provide Spanish residence?	No
Can applications filed before the deadline continue?	Potentially, under the previous rules
Are valid property-based Golden Visas immediately cancelled?	No
Can qualifying property-based permits still be renewed?	Potentially, under the transitional rules
Are other Spanish visas still available?	Yes

Applicants who are uncertain about their options can start by reviewing the complete comparison of Spanish visa and residence pathways.

Is the Spain Golden Visa Still Available in 2026?

No. Spain does not accept new Golden Visa or investor-residence applications filed on or after 3 April 2025.

The programme was previously regulated by Articles 63 to 67 of Law 14/2013. Organic Law 1/2025 removed the content of those articles, ending the investor visa framework.

The cancellation applied to the complete investor route, not only to property purchases.

New applications can no longer be based on:

The purchase of Spanish real estate
Investment in Spanish government debt
Shares or equity in Spanish companies
Qualifying Spanish investment or venture-capital funds
Deposits with Spanish financial institutions
Business projects previously classified as being of general interest

The separate Entrepreneur Residence Permit continues to exist, but it is based on developing an innovative business project—not on reaching a fixed investment amount.

What Was the Spanish Golden Visa?

The Golden Visa allowed qualifying non-EU citizens to obtain a Spanish investor visa or residence authorization through a substantial investment.

The most widely used option involved purchasing Spanish real estate worth at least €500,000. The first €500,000 of the qualifying investment generally had to be free of mortgages or other charges.

Other qualifying investments previously included substantial investments in Spanish financial assets, bank deposits, government debt and certain business projects.

The programme was particularly attractive because it offered:

Spanish residence for the investor
Residence options for qualifying family members
Permission to work in Spain
Greater flexibility over physical presence than most ordinary residence permits
The ability to retain a home or investment in Spain without necessarily relocating permanently

No current Spanish residence route provides exactly the same combination of passive investment and flexible residence.

What Happens to Golden Visa Applications Submitted Before 3 April 2025?

Investors and qualifying family members who submitted their applications before 3 April 2025 may continue to have those applications processed under the legislation that applied when they filed.

This does not guarantee approval. The applicant must still satisfy the former Golden Visa requirements and provide all requested evidence.

Applicants with a pending pre-deadline application should retain proof of:

The exact submission date
Payment of application fees
The qualifying investment
Ownership and control of the investment
The source of funds
Health insurance, where required
Sufficient financial resources
Their family relationship documents
Any responses submitted following an immigration request

A pending applicant should not sell, transfer or restructure the qualifying investment without first confirming how the change could affect the application.

What Happens to Existing Golden Visa Holders?

The closure did not automatically cancel every Golden Visa or investor residence permit already granted.

The clearest transitional protection applies to property-based investor visas and residence authorizations.

Property-Based Golden Visa Holders

A property-based investor visa or residence authorization that was valid when the reform took effect remains valid for the period for which it was issued.

When a qualifying renewal is submitted, the application can be processed under the legislation that applied when the initial authorization was granted.

This means that existing real-estate Golden Visa holders may still have a renewal pathway, provided they continue to satisfy the applicable former requirements.

Holders Who Used Other Types of Investment

The legislation’s express transitional renewal provision is specifically framed around investor visas and authorizations based on the acquisition of real estate.

Anyone whose permit was based on government debt, shares, bank deposits, investment funds or another former investor category should obtain individual advice before relying on the same renewal treatment.

The exact position may depend on:

The legal basis stated in the approval
The type of investment
The permit’s expiry date
Whether a renewal has already been submitted
The immigration authority’s interpretation of the transitional provisions

Can an Existing Holder Sell the Golden Visa Property?

Selling the qualifying property before renewal can place the investor’s immigration status at risk.

Existing holders should not assume that they can sell the property simply because their current TIE remains valid. The previous renewal framework normally required the qualifying investment to be maintained.

Before selling, transferring ownership, refinancing or changing the investment structure, confirm:

The expiration date of the existing authorization
Whether a renewal will be required
Whether the qualifying investment must still be maintained
Whether the holder qualifies for another residence category
Whether long-term residence is already available

Existing holders should also prepare well before their permit expires. The Spain residence-permit renewal guide explains the general preparation process.

Can Foreigners Still Buy Property in Spain?

Yes. Non-EU citizens can still purchase homes, holiday properties, commercial premises and investment properties in Spain.

The cancellation of the Golden Visa did not create a general prohibition on foreign property ownership.

However, buying a Spanish property now provides no automatic immigration rights. Property ownership does not:

Grant a Spanish residence permit
Extend the Schengen 90/180-day allowance
Authorize employment or self-employment
Make the owner eligible for a TIE
Replace the financial requirements of another visa
Guarantee approval of a residence application

Property ownership may help demonstrate that an applicant has accommodation in Spain, but the person must qualify independently under another immigration category.

Prospective buyers should treat immigration and property acquisition as two connected but legally separate processes. Our guide to purchasing real estate in Spain explains the broader buying process for international purchasers.

What Are the Best Alternatives to Spain’s Golden Visa?

There is no universal replacement. The best route depends on what the applicant will actually do after moving to Spain.

Applicant’s situation	Potential residence route	Can the applicant work?
Retired or financially independent	Non-Lucrative Visa	No
Working remotely for a foreign employer	Digital Nomad Visa	Yes, under its conditions
Freelancer with mainly international clients	Digital Nomad Visa	Yes, under its conditions
Developing an innovative Spanish startup	Entrepreneur Residence Permit	Yes
Opening a conventional local business	Self-Employed Visa	Yes
Receiving a Spanish employment offer	Employee Work Permit	Yes
Recruited for a senior or specialised position	Highly Qualified Professional Permit or EU Blue Card	Yes
Joining a qualifying family member	Family-based residence	Usually
Studying in Spain	Student authorization	Compatible work may be permitted
Buying a holiday home for occasional visits	No residence from the purchase alone	No

1. Non-Lucrative Visa for Retirees and Financially Independent Applicants

The Spain Non-Lucrative Visa is often the closest practical alternative for retirees and property owners who want to live in Spain without working.

Applicants generally need to demonstrate:

Sufficient financial resources
Comprehensive qualifying health insurance
A clean criminal record
A medical certificate
Suitable accommodation
Properly legalized and translated documents

The financial requirement is linked to Spain’s IPREM.

Using the 2026 monthly IPREM of €600, the general minimum is:

Main applicant: €28,800 for 12 months
Each dependent: an additional €7,200 for 12 months

These are baseline figures. A consulate can examine whether the money is accessible, stable and genuinely controlled by the applicant.

Important Limitation

The Non-Lucrative Visa does not authorize employment, self-employment or regular remote professional activity.

A person who intends to keep working online should normally consider the Digital Nomad Visa instead.

Applicants also need suitable insurance. Review the health-insurance requirements for Spanish visas before purchasing a policy.

2. Digital Nomad Visa for Remote Workers

The Spain Digital Nomad Visa is one of the strongest Golden Visa alternatives for people who can work remotely.

It may be suitable for:

Remote employees of foreign companies
Freelancers with established international clients
Consultants
Technology professionals
Online service providers
Owners or directors of foreign businesses who actively work for those businesses

Applicants normally need to prove:

A genuine employment or professional relationship
That the foreign company has an established operating history
That the applicant has worked with the company or clients for the required period
Permission to perform the work remotely from Spain
Relevant qualifications or professional experience
Sufficient income
Appropriate Social Security arrangements
Health coverage where applicable

The main applicant must generally demonstrate resources equivalent to at least 200% of the applicable Spanish minimum wage. Additional amounts are required for accompanying family members.

Unlike the Non-Lucrative Visa, this route legally supports qualifying remote work from Spain.

3. Entrepreneur Residence Permit for Innovative Projects

The Spain Entrepreneur Visa remains available despite the end of the Golden Visa.

However, it is not a passive-investment programme.

The applicant must propose a business project that is considered innovative and of particular economic interest to Spain. Authorities can evaluate:

The originality of the product or service
The applicant’s qualifications and experience
Market demand
Available financing
The project’s scalability
Potential employment creation
Technology or intellectual property
The project’s contribution to the Spanish economy

Simply purchasing property, acquiring shares or opening a conventional small business does not automatically qualify.

This route is best suited to active founders who intend to build and manage a credible project in Spain.

4. Self-Employed Visa for Conventional Businesses

Applicants who want to open a conventional business or provide services independently may be better suited to the Spain Self-Employed Visa, also called the Cuenta Propia route.

Unlike the Entrepreneur Permit, the business does not normally need to be highly innovative.

The application must instead demonstrate that the proposed activity is:

Genuine
Financially viable
Properly funded
Legally compliant
Supported by relevant qualifications or experience
Capable of supporting the applicant

This route can work for consultants, tradespeople, independent professionals, restaurant operators, retailers and other traditional business owners.

5. Work Permit for Employment With a Spanish Company

A person with a qualifying job offer may be able to move through a Spanish employee work permit.

Under the standard route, the Spanish employer usually begins the residence-and-work authorization process.

Approval can depend on:

The employment contract
The employer’s financial and legal position
The applicant’s qualifications
The occupation
Labour-market requirements
Whether an exemption from the labour-market test applies

This route is more dependent on the Spanish employer than the former Golden Visa because the initial immigration status is connected to the employment relationship.

6. Highly Qualified Professional Permit or EU Blue Card

Executives and specialists recruited by Spanish employers may qualify for the Highly Qualified Professional Permit or an EU Blue Card.

These pathways can be suitable for:

Executives
Managers
Engineers
IT and cybersecurity specialists
Scientists and researchers
Medical professionals
Senior financial professionals
Other specialised employees

Eligibility can depend on the position, salary, qualifications, professional experience and employing company.

For a qualifying candidate, this route may offer a more appropriate process than the standard employee work permit.

7. Family-Based Residence

A qualifying family relationship can provide another route to Spanish residence.

Potential categories include:

Spouses or registered partners of Spanish citizens
Qualifying stable partners of Spanish citizens
Children or certain dependent relatives of Spanish citizens
Non-EU family members of EU citizens
Family members joining a non-EU legal resident
Family members accompanying applicants under certain UGE residence categories

The correct procedure depends on the sponsor’s nationality, immigration status and relationship with the applicant.

The Spain Family Reunification guide explains the principal family pathways and eligibility requirements.

8. Student Authorization

Enrolment in a qualifying Spanish educational programme may provide a temporary pathway for living in Spain.

Eligible programmes can include:

University degrees
Master’s degrees
Doctoral studies
Certain vocational programmes
Approved professional training
Research or educational activities

Compatible work may be permitted under specific conditions.

However, applicants should not assume that a student authorization has the same legal effect as an ordinary residence permit. Study status can be classified as a stay authorization rather than residence, which can affect future long-term residence and citizenship calculations.

Read the complete Spain Student Visa guide before choosing study primarily as an immigration strategy.

Which Alternative Is Most Similar to the Former Golden Visa?

No current option is an exact replacement.

The closest practical match depends on the former investor’s circumstances:

Retired Property Owner

A Non-Lucrative Visa may be suitable if the person has adequate financial resources, obtains qualifying insurance and does not intend to work.

Remote Business Owner or Professional

A Digital Nomad Visa may work if the applicant actively works for a foreign company or established international clients and satisfies the employment, income and Social Security requirements.

Active Startup Founder

An Entrepreneur Residence Permit may be appropriate when the applicant will actively develop an innovative project in Spain.

Conventional Business Owner

A Self-Employed Visa may be more realistic for a traditional local business that does not satisfy the innovation requirements of the Entrepreneur Permit.

Passive Investor Wanting Occasional Access

There is currently no direct Spanish residence permit based only on buying property or holding a passive investment.

A non-resident property owner must continue to respect the applicable Schengen short-stay rules unless they independently obtain another visa or residence authorization.

Can Property Buyers Apply for a Non-Lucrative Visa?

Yes, provided they satisfy all the Non-Lucrative Visa requirements.

For example, a retired couple could purchase a Spanish home and apply based on pensions, savings and qualifying private health insurance.

The property can demonstrate accommodation, but its value does not replace:

The financial threshold
Health-insurance requirements
Criminal-record checks
Medical certificates
Consular documentation
Residence and renewal conditions

Can Property Buyers Apply for a Digital Nomad Visa?

Yes. Owning property does not prevent someone from qualifying for a Digital Nomad Visa.

The immigration decision will be based primarily on the applicant’s:

Remote employment or professional activity
Foreign company or clients
Income
Qualifications or experience
Social Security position
Supporting documents

The value of the Spanish property does not determine eligibility.

Will an Alternative Visa Lead to Permanent Residence?

Many Spanish residence authorizations can contribute toward eligibility for long-term residence after five years of qualifying legal and continuous residence.

This is different from merely holding a residence document while spending most of the year outside Spain.

Applicants planning for long-term residence must carefully manage:

Physical presence in Spain
Absences from Spanish territory
Permit renewals
Employment or business changes
Social Security obligations
Family circumstances
Documentary evidence of residence

The former Golden Visa was unusually flexible for investors who did not want to establish their principal home in Spain. Most alternative routes are better suited to people who genuinely intend to reside in the country.

Can These Residence Permits Lead to Spanish Citizenship?

Potentially, but citizenship is never automatic.

Spanish citizenship by residence normally requires legal and continuous residence for the applicable qualifying period, good civic conduct, integration and satisfaction of the other nationality requirements.

The standard residence period is generally ten years, although five-year, two-year and one-year periods can apply in specific cases.

Applicants should review the complete Spanish citizenship-by-residence rules before choosing a visa based on a future nationality plan.

Does Spanish Residence Automatically Make You a Tax Resident?

Not necessarily. Immigration residence and tax residence are separate legal concepts.

However, moving to Spain under a residence permit can lead to Spanish tax residence depending on factors such as:

The number of days spent in Spain during the calendar year
The location of the person’s principal economic interests
Family and personal circumstances
Applicable tax-treaty rules

A person who spends more than 183 days in Spain during a calendar year may generally be considered a Spanish tax resident, but this is not the only relevant test.

Former Golden Visa applicants should evaluate tax consequences before selecting an alternative route, especially when they own foreign companies, investment portfolios, trusts or properties in several countries.

How Should Former Golden Visa Applicants Choose a New Route?

Start with the purpose of the move—not with the property purchase.

Ask:

Will you continue working after moving to Spain?
Is your income from employment, clients, a pension, investments or savings?
Will you establish or manage a Spanish business?
Do you intend to live in Spain permanently?
How many days will you spend in Spain each year?
Which family members will accompany you?
Are you prepared for possible Spanish tax residence?
Is long-term residence or citizenship one of your goals?
When do you plan to relocate?
Which documents must be apostilled, legalized or translated?

Preparing foreign documents can take months. Use the Spain immigration-document checklist to identify what may be required before applying.

Frequently Asked Questions

Has Spain’s Golden Visa been cancelled?

Yes. Spain stopped accepting new investor visa and residence applications on 3 April 2025 after removing Articles 63 to 67 of Law 14/2013.

Can I obtain Spanish residence by purchasing a €500,000 property?

No. A property purchase no longer creates eligibility for Spanish residence. You must qualify separately through another immigration pathway.

Did existing Golden Visa holders lose their permits?

Not automatically. Valid property-based investor visas and authorizations retain their validity for the period for which they were issued. Transitional rules may also protect qualifying renewals.

Can an existing Golden Visa holder renew?

Property-based investors may be able to renew under the legislation that applied when their original authorization was granted. They must continue satisfying the applicable conditions. Holders who used another former investment category should obtain advice specific to their permit.

Can I sell my Golden Visa property?

Selling the qualifying property can affect renewal eligibility. Do not sell or restructure the investment until the effect on the current authorization and future residence strategy has been reviewed.

What is the best Golden Visa alternative for retirees?

The Non-Lucrative Visa is often the most relevant option for retirees with sufficient pensions, savings or other financial resources who do not intend to work.

What is the best alternative for remote workers?

The Digital Nomad Visa is normally the most appropriate option for qualifying remote employees and freelancers working mainly with companies or clients outside Spain.

Is Spain’s Entrepreneur Visa a new Golden Visa?

No. The Entrepreneur Permit requires an active, innovative business project of particular economic interest to Spain. It is not granted simply because an applicant invests a certain amount of money.

Can my family apply with me?

Many Spanish immigration routes allow qualifying spouses, partners, children and—in certain circumstances—dependent parents to apply. The eligible relatives and procedures depend on the principal applicant’s residence category.

Plan Your Spanish Residency After the Golden Visa

The end of the Golden Visa changed how international investors can obtain Spanish residence, but it did not close Spain to foreign property owners or newcomers.

The key difference is that applicants must now qualify based on their real circumstances:

Financial independence
Remote work
Spanish employment
Self-employment
Entrepreneurship
Study
Family relationships

Choosing the correct pathway from the beginning can prevent problems involving work rights, renewals, taxation, family applications and future long-term residence.

Newcomer.es provides Spanish immigration and residency assistance for individuals and families comparing their options after the Golden Visa.

Contact Newcomer.es to request an eligibility assessment and create a practical residency and relocation plan.