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Spain’s golden visa has ended: what it means for property buyers
Spain’s property golden visa closed on 3 April 2025. What it means for existing holders, non-EU buyers and the residence routes still open.
Updated: October 2026
For more than a decade, buying a home in Spain for €500,000 or more could give a non-EU buyer and their family the right to live here. That route closed in April 2025. This guide explains what changed, what happens to people who already hold a golden visa, and which options property buyers from outside the EU have in 2026.
What the golden visa was
The “golden visa” was the popular name for the investor residence permit created by the Entrepreneurs Law (Ley 14/2013). Non-EU nationals could get a residence visa and then a renewable residence permit by making a large investment. The options included:
- Property: at least €500,000 in Spanish real estate, free of mortgage above that amount. This was by far the most used route.
- Financial investments: €2 million in Spanish government bonds, or €1 million in shares, investment funds or bank deposits.
- Business projects considered of general interest, for example because they created jobs.
The main attraction was flexibility. Unlike most permits, the holder did not need to live in Spain for most of the year, and close family could be included.
How and when it ended
The government argued that the scheme pushed up house prices in cities and coastal areas where locals already struggled to find homes. The abolition was finally included in Organic Law 1/2025 on the efficiency of the justice system, published in January 2025. The provision took effect three months later, on 3 April 2025.
Since that date, no new applications for investor residence can be filed. Buying a €500,000 villa in Marbella, or putting money in Spanish shares or deposits, no longer gives anyone a right to live in Spain.
What happens to existing golden visa holders
The law included transitional rules, so people already in the system were not cut off overnight:
- Applications filed before 3 April 2025 are decided under the rules in force when they were submitted.
- Visas and permits valid on 3 April 2025 stay valid for the period for which they were issued.
- Renewals are processed under the rules that applied when the first permit was granted. In practice, holders who still meet the conditions, including keeping the investment, can continue to renew.
If you hold a golden visa, keep the qualifying investment in place and apply for renewal in good time. After five years of legal residence, some holders may be able to move to long-term residence, but that permit has its own conditions, including time actually spent in Spain. Investor permits are handled by the Ministry of Inclusion’s unit for large companies and strategic groups (UGE), which publishes guidance on the requirements that still apply to investors after Organic Law 1/2025.
Can non-EU buyers still buy property in Spain?
Yes. Anyone can still buy a home in Spain, whatever their nationality. What has changed is that the purchase no longer comes with residence. For non-EU buyers this means:
- The 90/180 rule applies. Without a residence permit or a national visa, most non-EU visitors can spend at most 90 days in any 180-day period in the Schengen area, including time spent in other Schengen countries.
- You need an NIE to buy, open a bank account and pay taxes.
- You pay non-resident taxes. Owners who do not live in Spain pay non-resident income tax every year, even if the home is not rented out, as well as IBI to the town hall. Our guide to taxes for foreign property owners explains the details.
- Financing is possible but tighter. Spanish banks lend to non-residents, usually with a lower loan-to-value than for residents. See our mortgage guide.
Buyers should also follow the political debate. In early 2025 the government proposed a tax of up to 100% of the property value on homes bought by non-EU non-residents. As of spring 2026 the proposal had stalled in parliament and had not been approved, but it has not been formally withdrawn either. Check the current situation with your lawyer before you sign.
Alternative routes to live in Spain
If your goal is to live in Spain rather than just own a holiday home, these are the most common routes for non-EU nationals in 2026:
| Route | Who it suits | Key point |
|---|---|---|
| Non-lucrative residence | Retirees and people with passive income | You must show enough regular income or savings and private health insurance, and you cannot work in Spain |
| Digital nomad visa | Remote workers and freelancers with foreign clients | Minimum income linked to the Spanish minimum wage |
| Entrepreneur residence | People starting an innovative business in Spain | The business plan needs a favourable report |
| Highly qualified professional | Senior staff hired by a Spanish company | Salary threshold set by the authorities |
| Work permit | People with a Spanish job offer | Usually requires the employer to start the process |
Unlike the golden visa, most of these permits expect you to actually live in Spain. Our guides to the digital nomad visa and to Spain’s immigration rules in 2026 explain the conditions. EU and EEA citizens do not need any of these: they simply register as residents if they stay more than three months.
Useful links
- Ministry of Inclusion: Unit for Large Companies and Strategic Groups (UGE)
- Ministry of Inclusion: types of residence authorisation
- KPMG legal alert: end of the golden visa (PDF, Spanish)
- Residency in Spain 2026: step by step
- The housing market in Spain: renting or buying as a new resident
FAQ: the end of the golden visa
Can I still get a golden visa if I buy property now?
No. Since 3 April 2025 no new applications for investor residence can be filed, whatever the value of the property.
I already have a golden visa. Can I renew it?
Yes. Existing permits stay valid, and renewals are assessed under the rules that applied when your first permit was granted, as long as you still meet the conditions.
Does owning a home in Spain help a residence application?
It can help show you have somewhere to live, but on its own it gives no right to residence. You still need to qualify under a route such as non-lucrative residence or the digital nomad visa.
Has the 100% tax on non-EU buyers been introduced?
Not as of the latest reports in 2026. It was proposed in 2025 but had not been approved by parliament. Check the current position before you buy.
Disclaimer: This article is general information only and is not legal or tax advice. Immigration and tax rules change often – always check with the official source or a qualified immigration lawyer or gestor before you buy or apply.
