Spain Residency Options After the Golden Visa — What Foreign Buyers Need to Know in 2026

The End of the Property Golden Visa — What Happened

Spain's Investor Visa — universally known as the Golden Visa — was one of Europe's most popular residency-by-investment programmes for over a decade. Introduced in 2013 under the Entrepreneurs' Law (Ley 14/2013), it granted a two-year renewable residence permit to non-EU nationals who made a qualifying investment in Spain, with the property route — requiring a minimum purchase of €500,000 free of mortgages — being by far the most widely used pathway.

On 3 April 2025, the Spanish government formally closed the property investment route to new applicants. The closure was announced by Prime Minister Pedro Sánchez in April 2024 and cited concerns about housing affordability in major cities and coastal markets, as well as alignment with European policy trends. Applications that had been submitted and were already in process by the closure date were permitted to continue under the previous rules; no new applications linked to property purchases are accepted from that date onwards.

This is a permanent closure, not a suspension. There is no indication from the Spanish government that the property route will be reinstated.

What the Closure Means for Property Buyers

It means exactly what it says: buying property in Spain — at any price — no longer grants you any right to reside in Spain.

Critically, however, it has no effect whatsoever on your right to own property. Foreign nationals continue to purchase Spanish property freely and in large numbers. Ownership rights are entirely separate from residency rights. You can purchase a villa in Marbella, an apartment in Valencia or a commercial property in Madrid as a non-resident with no residency intention, and you are fully entitled to do so. The tax obligations of non-resident ownership continue to apply as before — see our guide to Spain property taxes for foreign buyers.

If residency in Spain is part of your plan, you now need to qualify under one of the alternative routes described below.

---

Alternative Residency Routes in Spain — 2026

1. Non-Lucrative Visa (Visado de Residencia No Lucrativa)

The Non-Lucrative Visa (NLV) is the primary residency route for those who wish to live in Spain without working — retired individuals, those with investment portfolios generating passive income, or others who are financially self-sufficient.

Key requirements (as of 2026):

• Proof of sufficient passive income or savings. The Spanish authorities apply an informal benchmark linked to the Spanish Public Income Indicator (IPREM). As of 2026, applicants typically need to demonstrate passive income of approximately €28,800 per year (roughly 400% of the annual IPREM) for the primary applicant, with additional income requirements for each dependant. These figures are reviewed periodically; confirm current thresholds with an immigration lawyer.
• The income must be passive: pensions, investment income, rental income from assets outside Spain, dividends and similar sources qualify. You may not work for pay in Spain under this visa.
• Comprehensive private health insurance with a Spanish-approved insurer
• Clean criminal record certificate (apostilled)
• Valid passport
• No outstanding Spanish immigration violations

Process: The NLV is applied for at the Spanish consulate in your country of residence, not in Spain itself. The consulate in your jurisdiction will have its own specific documentation requirements and processing times; allow three to five months minimum from application to approval, though timelines vary significantly by consulate.

Initial grant: One year, renewable for two-year periods.

Progression to permanent residency: After five years of continuous legal residence, you become eligible to apply for long-term (permanent) EU residence status. After ten years, you may apply for Spanish citizenship — subject to language and cultural integration tests.

Tax note: Spending more than 183 days per year in Spain will generally make you a Spanish tax resident, which triggers worldwide income taxation under Spanish rules. Many NLV holders plan carefully around this threshold, particularly in the early years of residence. Independent tax advice is essential.

---

2. Digital Nomad Visa (Visado para Teletrabajadores de Carácter Internacional)

Spain introduced its Digital Nomad Visa in 2023 under the Startups Law (Ley 28/2022). It is designed for remote workers — employees of non-Spanish companies or self-employed professionals whose clients are predominantly based outside Spain.

Key requirements (as of 2026):

• Proof of remote employment with a non-Spanish company (minimum one year with the employer), or self-employment with clients predominantly outside Spain (up to 20% of income may come from Spanish clients)
• Demonstrated income of at least 200% of the Spanish minimum wage — as of 2026, broadly equivalent to approximately €2,850 per month gross, though the exact figure moves with the minimum wage
• The employer must confirm the remote-working arrangement in writing
• The applicant must have relevant professional qualifications or at least three years' professional experience in the relevant field
• Private health insurance with Spanish coverage
• Clean criminal record

Process: Can be applied for either at the Spanish consulate in your home country (Visado) or, if already in Spain legally, directly at the Unidad de Grandes Empresas y Colectivos Estratégicos (UGE-CE). The in-Spain route, known as the residence permit route (Autorización de Residencia), offers some procedural advantages.

Duration: Initial three-year permit, renewable.

Beckhams Law (Régimen Especial para Trabajadores Desplazados): Digital Nomad Visa holders, like other inbound workers, may elect to be taxed as non-residents for Spanish income tax purposes for up to six years under what is informally called the Beckham Law. This caps Spanish income tax at a flat 24% on Spanish-source income up to €600,000, rather than the higher progressive rates that apply to residents. This can be highly advantageous for higher earners but requires a specific application within six months of registration; specialist tax advice is essential.

---

3. Entrepreneur Visa (Visado para Emprendedores)

The Entrepreneur Visa is aimed at non-EU nationals who wish to establish a business in Spain. It is suitable for investors who wish to create a genuine commercial presence — not simply a holding vehicle.

Key requirements:

• A credible business plan, evaluated by Spain's Empresa Nacional de Innovación (ENISA) or the relevant regional authority
• Demonstration that the proposed business is innovative, of economic interest to Spain, or creates employment
• Sufficient funding to establish and sustain the business during its initial period
• No specific minimum investment threshold is prescribed by law, though the business plan assessment effectively filters for serious proposals

Duration: Initial one-year permit, renewable for two-year periods.

This route is genuinely suited to entrepreneurs rather than passive investors. It requires active involvement in building a Spanish business and will not be appropriate for those simply seeking a residency vehicle.

---

4. Other Residency Routes Worth Noting

EU Citizen Family Members: Non-EU nationals who are family members of an EU citizen legally residing in Spain qualify for residency under EU free movement rights, on simpler terms than the routes above.

Highly Qualified Professionals: Professionals recruited by Spanish companies under a qualifying employment contract may apply for work and residence permits under the standard employed-worker route.

Study Visa (with residency accumulation): Time spent in Spain on a student visa counts towards the residency accrual period for long-term residence only at a reduced rate (one year of study counts as half a year for this purpose).

---

Pathways to Permanent Residency and Citizenship

Permanent Residency (Long-Term EU Residence Permit)

After five years of continuous, legal residence in Spain — regardless of the visa route under which you arrived — you become eligible to apply for long-term permanent residence status. This permits you to live and work in Spain indefinitely and provides the same rights as a Spanish national in most practical respects.

Continuous residence means you cannot have been absent from Spain for more than six consecutive months, or more than ten months in total, over the five-year period.

Spanish Citizenship (Nacionalidad Española)

Spanish citizenship generally requires ten years of legal residence. However, significantly reduced periods apply for:

• Nationals of most Latin American countries, Equatorial Guinea, the Philippines, Andorra and Portugal: two years
• Sephardic Jews with proven historical connection: direct naturalisation (legislation has evolved in this area; confirm current rules)
• Spouses or widows/widowers of Spanish nationals: one year
• Children born in Spain to foreign parents who were themselves born in Spain: one year

Spanish citizenship confers full EU citizenship and the associated rights of freedom of movement, residence and work across EU member states. Applicants must pass the DELE A2 Spanish language test and the CCSE civic knowledge test, and must demonstrate legal residence and good civic conduct.

---

Can You Combine Property Ownership with a Non-Property Visa?

Yes, and many buyers do. Property ownership in Spain is entirely compatible with any of the residency routes described above. Indeed, owning a property can strengthen your visa application by demonstrating stable accommodation — this is typically required as part of the documentation pack for the NLV and other routes.

The distinction is simply that property ownership alone is no longer sufficient for residency. You must independently satisfy the income, employment or business requirements of the applicable visa route.

For those whose primary motivation for a high-value Spanish property purchase was the Golden Visa route, the closure represents a meaningful change in the investment case. For the majority of international property buyers — those purchasing for lifestyle, rental income or portfolio diversification — the closure changes nothing material about the ownership experience.

Browse our current Spanish property listings at /listings, or explore the wider Spain property investment overview and our residency and citizenship guide.

---

Summary Comparison of Main Residency Routes

Route	Work Permitted?	Minimum Income / Threshold	Initial Duration
Non-Lucrative Visa	No	~€28,800/yr passive income	1 year
Digital Nomad Visa	Remote (non-Spanish employer)	~€2,850/month	3 years
Entrepreneur Visa	Yes (own business)	Business plan assessment	1 year
Standard Employment	Yes (for Spanish employer)	Employer contract	1 year

All routes lead to permanent residency after five years and citizenship eligibility after ten (or two, for qualifying nationalities). Information is correct to the best of our knowledge as at June 2026; immigration rules are subject to change and the above is not legal advice.

---

How Global Investments Can Help

Global Investments works with international buyers who are considering Spain both as a property market and as a place to live, and we understand that the two decisions — where to invest and where to reside — are often connected. We can introduce you to qualified Spanish immigration lawyers and independent tax advisers who specialise in advising international clients on visa applications, fiscal residency planning and the interaction between Spanish and home-country tax obligations. We recommend taking specialist immigration and tax advice well before making any relocation or investment decision; this guide is intended as an orientation only.