Spain Golden Visa Ended 2025: What Are the Alternatives?

Spain Golden Visa Ended 2025: What Are the Alternatives?

Spain's Golden Visa program officially closed on April 3, 2025. The program, which ran since 2013 under Ley 14/2013 de apoyo a los emprendedores y su internacionalizacion, had allowed non-EU nationals to obtain Spanish residency by investing at least EUR 500,000 in real estate. The Spanish government ended it citing concerns about its impact on housing affordability, particularly in Madrid, Barcelona, and coastal regions where foreign investment was concentrated.

The closure does not affect property ownership rights. Foreigners can still buy property in Spain without any restrictions. What has changed is that buying property no longer provides a path to residency. If you want both Spanish property and Spanish residency, you now need to qualify through a separate visa category.

What Happened to Existing Golden Visa Holders

If you obtained a Golden Visa before April 3, 2025, your residence permit remains valid. Renewals of existing permits are still processed under the original terms, provided you maintain the qualifying investment. The closure applies only to new applications filed after the cutoff date.

Alternative Residency Options in 2026

Non-Lucrative Visa (Visado de Residencia No Lucrativa)

This is the most straightforward replacement for many former Golden Visa candidates. The non-lucrative visa grants residency to individuals who can demonstrate sufficient financial means to live in Spain without working.

Requirements: Proof of annual income of at least EUR 28,800 (approximately EUR 2,400 per month) from passive sources such as pensions, investments, rental income, or savings. The income must come from outside Spain. Private health insurance covering Spain. Clean criminal record. No employment in Spain (remote work for non-Spanish employers is a grey area that some provinces interpret differently).

Duration: Initial one-year permit, renewable for two-year periods. After five years of continuous legal residence, you can apply for long-term EU resident status. After ten years, you can apply for Spanish citizenship.

Key difference from Golden Visa: The non-lucrative visa requires you to actually live in Spain (at least 183 days per year to maintain tax residency, though the residency requirement for renewal is somewhat less strictly enforced). The Golden Visa had no minimum stay requirement.

Digital Nomad Visa (Visado para Teletrabajo de Caracter Internacional)

Introduced in 2023 under Ley 28/2022 (the Startups Law), the digital nomad visa targets remote workers, freelancers, and entrepreneurs whose income comes from clients or employers outside Spain.

Requirements: Employment or freelance activity with clients/employers based outside Spain. Maximum of 20 percent of income from Spanish sources. Minimum income of approximately EUR 2,849 per month (200 percent of Spain's minimum wage, adjusted annually). Professional qualifications or a demonstrable employment relationship. Private health insurance. Clean criminal record.

Duration: Initial three-year permit, renewable for two-year periods. The visa provides a special tax regime: a flat 15 percent tax rate on Spanish-sourced income for the first four years, compared to the standard progressive rates of up to 47 percent.

Best for: Remote workers and freelancers who want to live in Spain while working for international clients. The tax advantages are significant compared to standard residency.

Entrepreneur Visa (Visado de Emprendedor)

For individuals planning to start a business in Spain that creates jobs, introduces innovation, or has a significant economic impact.

Requirements: A detailed business plan approved by ENISA (Empresa Nacional de Innovacion) or the relevant autonomous community's assessment body. The business must be deemed innovative or of special economic interest. Sufficient funds to support yourself and the business. The business must be established in Spain.

Duration: Initial one-year visa, convertible to a two-year residence permit upon demonstrating business activity.

Highly Qualified Professional Visa

If you have a job offer from a Spanish company in a qualified profession, you can apply for a work permit under the general regime or the highly qualified professional (alta cualificacion) category.

Requirements: A job offer from a Spanish employer. Minimum salary of EUR 33,908 per year for general highly qualified roles, or EUR 27,126 for roles in shortage occupations or for workers under 30.

Student Visa to Residency Pathway

Enrolling in a Spanish university or qualifying educational program provides a student visa. After completing studies, graduates can convert to a work permit if they secure employment. Time spent on a student visa counts partially toward the five-year permanent residency requirement.

Property Ownership Without Residency

Remember that property ownership and residency are now entirely separate in Spain. You can buy property as a non-resident and visit for up to 90 days in any 180-day period under standard Schengen visa rules (for non-EU nationals from visa-waiver countries) or with a Schengen tourist visa.

As a non-resident property owner, you will need to appoint a fiscal representative in Spain for tax purposes, file annual non-resident income tax returns (Modelo 210), and pay IBI (municipal property tax) and any community fees.

EU Alternatives with Golden Visa Programs

If residency-through-investment is your priority, several EU countries still offer Golden Visa programs as of 2026.

Greece: EUR 250,000 to EUR 800,000 depending on location and property type. No minimum stay requirement for renewal. Schengen travel rights.

Portugal: The Golden Visa still exists but no longer includes direct real estate investment. Qualifying routes include investment funds (EUR 500,000 minimum), research contributions, and cultural heritage donations.

Malta: Residency through the Malta Permanent Residence Programme requires a property purchase or rental plus a government contribution.

Italy: The Investor Visa requires a minimum EUR 250,000 investment in an Italian startup or EUR 500,000 in an Italian company.

For a complete overview of Spain's property market and buying process, Bektu's Spain country guide provides current data for foreign buyers navigating the post-Golden Visa landscape.