For more than a decade, investing in property in Spain was seen as one of the simplest ways for a non-EU national to gain residency. That door has now closed: Spain ended its investor Golden Visa in 2025. If you were counting on it, several well-established alternatives remain open, and most people who want to live in Spain can still find a route that fits.
What changed in 2025
The Golden Visa, broadly known as the investor residence authorisation, was introduced around 2013. It allowed non-EU citizens to seek Spanish residency in exchange for a qualifying investment, most commonly a real-estate purchase above a set threshold, but also through capital, business projects or government bonds.
Legislation in 2025 repealed this regime. After the cut-off, new investor residence applications based on these qualifying investments are generally no longer accepted. In practice, the property-for-residency model that many foreigners associated with Spain no longer exists.
Two points matter for anyone affected. First, transitional arrangements are commonly designed to protect people who already held a Golden Visa or applied before the change, so existing permits and their renewals may continue to be recognised; you should confirm your own position rather than assume it. Second, the exact dates and wording of such reforms can shift. Rules in this area change, so confirm the current legal text and any deadlines with a qualified Spanish lawyer before relying on them.
Why it ended
The decision reflected a wider European trend. Several EU states have wound down or restricted investor-residency and "citizenship by investment" schemes amid concerns about due diligence, security and money-laundering risk.
In Spain, much of the public debate centred on housing. Officials linked property-based visas to pressure on housing costs in popular cities and coastal areas, and argued that residency should not be tied chiefly to real-estate purchases. Whatever the underlying causes, the policy direction was to move away from investment-for-residency.
The routes people use now
Ending the Golden Visa does not close Spain to foreigners; it removes one shortcut. The following routes remain available, each with its own conditions, and each tends to be revised over time.
Non-lucrative visa (NLV)
The non-lucrative visa tends to suit people with sufficient passive income or savings who do not need to work in Spain, such as retirees, the financially independent, or those taking an extended period abroad. You generally need to show stable income or funds above a defined minimum, hold suitable private health insurance, and demonstrate that you can support yourself without working locally.
Because it does not normally permit employment in Spain, the NLV is usually best for those whose income comes from outside the country, such as pensions, rent or investments. The required amounts are tied to official indicators and are revised from time to time, so treat any figure you read as approximate and confirm the current threshold with a lawyer.
Digital nomad visa
Introduced around 2023, the digital nomad visa is generally aimed at remote workers and freelancers employed by, or serving, companies based mainly outside Spain. It can let you live in Spain while continuing existing remote work, and in many cases bring close family members.
Typical conditions include evidence of a genuine remote employment or client relationship, a minimum income level, relevant qualifications or experience, and health cover. Some applicants may also access favourable tax treatment, though tax rules are technical and personal, so take specific advice on your own circumstances.
Other established routes
- Work and highly-qualified professional permits for those with a job offer or specialist skills.
- Student visas for enrolment in recognised programmes, which can sometimes lead on to other permits.
- Entrepreneur and self-employment routes for people launching a business or working independently in Spain.
- Family reunification for relatives of legal residents or Spanish nationals.
- EU and "arraigo" pathways in specific personal or social circumstances.
Choosing a route and avoiding pitfalls
The right choice depends on your situation: whether you need to work, where your income comes from, your family, and how long you plan to stay. A common mistake is assuming one visa can do everything; each tends to carry its own limits on work, minimum stay and renewal.
Watch a few practical points. Income and savings thresholds move with official figures, so any number you see today may change. Health-insurance requirements are often strict and specific. Documents from abroad frequently need translation and legalisation. And timing matters, because some applications are made from your home country and others from inside Spain. Getting the sequence wrong can cost months.
A word before you act
Spain remains genuinely open to foreigners who want to live, work or retire there; the Golden Visa was only one path among several, and arguably not the one most people needed. This guide is general information, not legal advice, and the rules in this area change often. Before you commit money, sign a lease or book travel, it is worth speaking to a qualified Spanish immigration lawyer who can review your circumstances and confirm the current requirements, thresholds and deadlines that apply to you.