> Last updated: June 2025. Spain abolished the property route to the Golden Visa in April 2025. This article is provided for general information only. You must verify the current legal status with a qualified Spanish immigration lawyer before taking any action. Nothing here constitutes immigration or legal advice.
Spain's Golden Visa was one of the most popular routes to European residency for non-EU property buyers — until it wasn't. In April 2025, Spain formally ended the property investment route to the Golden Visa programme, fulfilling Prime Minister Pedro Sánchez's 2024 pledge. The window has closed.
The Spain Golden Visa property route is no longer available. Applications based on real estate investment are no longer accepted as of April 2025. Other Golden Visa routes (fund investment, job creation, scientific research) remain in place for now, but the property route that drove the majority of uptake is gone.
This article explains what the programme offered, what changed and when, and — most usefully — what your realistic alternatives are if you still want a route to Spanish residency.
What Was the Spain Golden Visa?
Spain's Golden Visa — formally the *Visado para Inversores* — was introduced in 2013 under the Entrepreneurs Act (*Ley de Emprendedores*). It was part of a wave of investor visa programmes launched across Southern Europe as governments sought foreign capital in the wake of the financial crisis. The Spanish government's official investor visa information is published by the Ministry of Foreign Affairs.
The property route was the most popular by far. Non-EU nationals who invested a minimum of €500,000 in Spanish real estate — free of mortgage, debt-free — could apply for a one-year investor visa that converted to a two-year residency permit, renewable every five years. After five years of legal residency, applicants could apply for long-term residency. After ten years, Spanish citizenship became possible.
The key draws:
- No minimum stay requirement. Unlike most residency routes, you did not need to live in Spain to renew. This was the defining appeal for buyers who wanted a European foothold without committing to full relocation.
- Full family inclusion. Spouse or partner, dependent children, and dependent parents could all be included on the same application.
- Schengen access. Visa holders could travel freely across the Schengen Area for the duration of their permit.
- Path to citizenship. A legally viable, if long, route to an EU passport.
What Changed in April 2025: The Property Route Is Closed
In April 2024, Sánchez made a high-profile announcement: Spain would end the property Golden Visa. His framing was explicit — the programme was inflating housing prices in major cities and making homes unaffordable for ordinary Spaniards. The backdrop was a genuine housing crisis, particularly acute in Barcelona and Madrid, where average rents had surged past what local salaries could support.
In April 2025, the property investment route to the Spain Golden Visa was formally abolished. The legislation passed, and new applications based on real estate purchases are no longer accepted. Spain joins several other EU countries that have closed or restricted their property-linked investor visa programmes in response to housing affordability concerns.
What this means for buyers:
- No new applications based on property investment are accepted after the April 2025 closure date
- Existing Golden Visa holders retain their residency permits and can renew under the existing rules as long as they maintain the original qualifying investment
- Other Golden Visa routes — fund investment of €500,000+, €1m+ in Spanish company shares, job creation, or scientific/cultural contributions — remain technically open at the time of writing but are subject to ongoing review
Who Still Has Golden Visa Rights After April 2025
The April 2025 closure only affects new applications. Existing Golden Visa holders are not affected and can renew their permits under the original programme rules, provided they retain the qualifying real estate investment.
Existing holders can:
- Renew their residency permits in the usual two-year cycles
- Continue to include family members under the same permit
- Eventually apply for long-term residency after five years of legal residency
- Pursue Spanish citizenship after ten years
If you are in this situation, continue working with your immigration lawyer to maintain your permit renewals and meet the ongoing requirements.
The €500,000 Threshold: What Counts
This is where many buyers make expensive mistakes, so clarity matters.
The €500,000 must be:
Free of mortgage. The entire qualifying amount must be equity — not partially financed. If you buy a property for €700,000 with a €250,000 mortgage, only €450,000 counts. You do not meet the threshold.
In real estate registered in Spain. The property must be recorded in the Spanish Property Registry (*Registro de la Propiedad*). Off-plan properties where completion has not yet occurred are a grey area — you need legal advice specific to your situation.
One or multiple properties. You can aggregate multiple properties to reach the €500,000 threshold. A €300,000 apartment and a €250,000 townhouse, both purchased debt-free, would qualify.
Buying costs do not count. Transfer tax (ITP at 10%), notary fees, solicitor costs — these are excluded. The €500,000 is the net purchase price. See our guide to buying costs in Spain for a full breakdown of what to budget beyond the property price.
One important note for buyers in Madrid and Barcelona: at current market prices, €500,000 buys a mid-sized apartment in a reasonable location, not a luxury property. The threshold that seemed significant in 2013 is now a relatively accessible price point in prime urban markets, which is part of why the programme attracted the scale of uptake it did.
Residency Rights You Get (and Don't Get)
Understanding what the Golden Visa actually gives you is essential — the programme is often sold with language that overstates the benefits.
What you get:
- Legal right to reside in Spain (and travel across the Schengen Area)
- The right to work in Spain, including as a self-employed person
- Full family inclusion — partner and dependent children are covered
- A path to permanent residency after five years (subject to standard requirements)
- A path to citizenship after ten years of legal residency
- Automatic Spanish tax residency (you become a Spanish tax resident if you spend 183+ days/year in Spain — this is separate from having a residency permit and carries significant tax implications)
- A shortcut to citizenship — the ten-year route requires maintaining legal residency throughout and demonstrating integration
- Any guarantee that the programme continues to exist in its current form
Alternatives: Non-Lucrative Visa, Digital Nomad Visa, EU Citizenship Routes
If the Golden Visa closes before you're ready, or if you don't meet the €500,000 threshold, there are several legitimate alternatives.
Non-Lucrative Residency Visa (*Visado de Residencia No Lucrativa*)
The NLV is the most-used alternative for buyers who want to live in Spain without working there. It is not an investor visa — it's a proof-of-income visa. You must demonstrate sufficient passive income or savings to support yourself without working in Spain.
The current income threshold is approximately €2,400/month for a single applicant (roughly 400% of the IPREM indicator), with additional amounts required per dependant. If you have rental income, pension income, or investment returns that exceed this, you may qualify.
The key difference from the Golden Visa: you must actually live in Spain. The NLV requires you to spend the majority of the year in the country to maintain residency. This makes it a genuine relocation route, not an optionality vehicle.
Digital Nomad Visa (*Visa para Nómadas Digitales*)
Spain's Digital Nomad Visa, introduced in 2023, allows remote workers and freelancers to live in Spain while working for foreign companies or clients. The income requirement is around 200% of Spain's minimum wage (approximately €2,646/month in 2025).
For buyers who work remotely, this is an increasingly attractive route. It does not require a property purchase, but many people combine it with buying. It also opens access to Spain's Beckham Law tax regime (*Régimen Especial de Impatriados*), which caps income tax at a flat 24% for up to six years — a significant benefit for higher earners.
EU Citizenship by Descent or Naturalisation
If you have a grandparent from any EU member state, exploring citizenship by descent is worth serious consideration. Ireland, Italy, Poland, Hungary, Germany, and others all have descent routes with different requirements and timelines.
Sephardic Jews of Spanish descent have a specific Spanish citizenship route. Citizens of Ibero-American countries (including most of Latin America) can apply for Spanish citizenship after only two years of legal residency, significantly shorter than the standard ten years.
Portugal's Route
Worth mentioning: Portugal's Golden Visa still exists, though it was reformed in 2023 to remove the direct property purchase route in most areas. Portugal now focuses its programme on fund investments, scientific research, and cultural projects. The citizenship timeline is also five years of legal residency. For buyers committed to Iberia who have flexibility on country, Portugal's programme may offer a cleaner path.
What the Golden Visa Closure Means for Spain Property Buyers
The closure of the property route doesn't change the fundamentals of buying in Spain — it just removes one motivation that some buyers had layered on top of an otherwise solid purchase decision.
The honest view: many buyers who cited the Golden Visa as a reason to buy were using it as permission to do something they wanted to do anyway. That doesn't go away. Spain remains a compelling destination for UK and Irish buyers — the climate, cost of living, lifestyle, and long-term capital dynamics are unchanged. The visa just isn't part of the equation anymore.
What does change: buyers who were stretching to €500,000+ specifically to hit the Golden Visa threshold should reassess. Without that incentive, a budget set by what you genuinely want and can afford — not by a visa minimum — is the cleaner starting point.
Browse available properties in Spain on Voya → to explore what your actual budget can buy across the Costa Blanca, Costa del Sol, and Murcia.
Frequently Asked Questions: Spain Golden Visa After April 2025
Is the Spain Golden Visa still available in 2025? The property investment route to the Spain Golden Visa was abolished in April 2025 and is no longer accepting new applications. Other investment routes (fund investment, company shares, job creation) remain technically available but are under ongoing review. Consult an immigration lawyer for the current status before acting.
Can I still get Spanish residency by buying property? Not through the Golden Visa since April 2025. However, you can still buy property in Spain as a non-resident without any residency requirement. If you want to live in Spain, the Non-Lucrative Visa (proof of passive income), the Digital Nomad Visa (for remote workers), or standard long-term residency routes are the main alternatives.
What happens to existing Spain Golden Visa holders? Existing holders are not affected by the April 2025 closure. They can continue to renew their residency permits under the original rules as long as they retain their qualifying investment. The closure only affects new applications.
What is the Non-Lucrative Visa Spain? The Non-Lucrative Visa (*Visado de Residencia No Lucrativa*) allows non-EU nationals to live in Spain without working, provided they can demonstrate sufficient passive income — currently around €2,400/month for a single applicant. Unlike the former Golden Visa, it requires you to actually spend the majority of the year in Spain.
What is the Spain Digital Nomad Visa? Introduced in 2023, Spain's Digital Nomad Visa allows remote workers earning from foreign companies or clients to live in Spain. The income requirement is approximately €2,646/month (200% of minimum wage in 2025). It also opens access to the Beckham Law flat income tax rate of 24% for up to six years.
Does buying property in Spain give you the right to live there? No — not since April 2025. Purchasing property in Spain does not give you any automatic right to live there beyond the standard 90-day Schengen visitor allowance. If you want to spend more time in Spain, you need a separate visa or residency permit.
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*This article was last updated in June 2025. Spain's immigration regulations are subject to change. The information above is provided for general guidance only and does not constitute legal or immigration advice. Always consult a qualified Spanish immigration specialist before making decisions. Voya is a property portal — we do not provide immigration or legal services.*
Also worth reading: our guides to buying costs in Spain, Spanish mortgages for non-residents, and ongoing costs of owning property in Spain.
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