Golden Visa in Spain: What it was, what changed, and which residency routes still work

The Golden Visa is no longer a live route for new applicants who want to gain residency in Spain through investment.

Since 3 April 2025, Spain has removed the investor residence articles that supported this route.

That means the Golden Visa now belongs in the past tense: it was a residency pathway for qualifying investors, but it is no longer a way to obtain new residency in Spain.

Existing holders are in a different position, because valid permits keep their validity and renewals may still be processed under the rules that applied when the initial authorisation was granted.

spanish property investment

What the Golden Visa was in Spain

Before the reform, the Golden Visa was part of Spain’s mobility framework under Law 14/2013.

It was designed for non-EU investors and their families, and it offered a relatively fast route to live in Spain after making a qualifying investment.

In practice, the best-known route was the purchase of Spanish real estate, but the law also covered public debt, company shares, investment funds, bank deposits, and certain business projects considered to be in the general interest.

Government guidance and consolidated legal texts described the old investor route broadly as follows:

Former golden visa route	Historic threshold	Official basis
Spanish public debt	€2 million	Government migration guidance on investor criteria
Shares or participations in Spanish companies	€1 million	Government migration guidance on investor criteria
Investment funds / closed-end funds/venture capital funds in Spain	€1 million	Government migration guidance on investor criteria
Bank deposits in Spanish financial institutions	€1 million	Government migration guidance on investor criteria
Real estate purchase	€500,000 free of charges over the qualifying amount	Government migration guidance and consolidated Law 14/2013 text
Business project of general interest	No fixed minimum amount	Needed to show job creation, socioeconomic impact, or relevant innovation

For many applicants, the attraction of the Golden Visa was not only residency itself, but also the flexibility around family applications and the ability to work or run a business in Spain once the permit was granted.

That made the route especially visible among property buyers, international families, and investors looking for a legal base in Spain while also thinking ahead about residency in Spain, asset protection, and cross-border tax planning.

Did you know?

If you live in both countries, tax residency does not depend only on where you spend time.

The UK-Spain tax treaty uses tie-breaker rules such as your permanent home, centre of vital interests, and habitual abode.

Read more in our guide to UK-Spain double taxation.

What changed: The Golden Visa no longer grants new residency in Spain

The key point is simple: the Golden Visa is no longer available for new residency planning in Spain.

Spain’s Organic Law 1/2025 removed the investor residence provisions in Law 14/2013.

The reform became effective on 3 April 2025.

Date	What happened	Why it matters
2 January 2025	Organic Law 1/2025 published in the BOE	The repeal of the investor residence articles was formally approved.
3 April 2025	Reform took effect	From this date, the golden visa stopped being a route for new investor residency applications.
After 3 April 2025	Transition rules applied	Already-filed applications and valid permits moved onto a protected transitional framework.

So, if someone asks today whether buying a €500,000 property still secures a Golden Visa and residency in Spain, the answer is no.

Buying property may still make commercial or personal sense, but it is no longer a direct immigration shortcut.

Can people who already have a Golden Visa still renew it?

Yes, in many cases.

This is where the transitional regime matters.

Important update

Existing Golden Visa holders are still protected.

Valid permits remain in force for their original duration, and renewals can continue under the rules that applied when the visa was first granted.

For existing holders, renewals are not automatic.

The facts still matter: the type of original approval, the timing of the first grant, the continuity of the qualifying investment where required, and the applicant’s personal and family circumstances

Golden Visa in Spain: What applies now

New applicants

The Golden Visa no longer works as a new-entry route for people planning residency in Spain.

Existing holders

People who already obtained it lawfully, or filed before the cutoff, may still have protected rights under the transitional rules.

This is one reason many clients now combine immigration advice with broader planning on long-term residence in Spain, tax residence, succession, and property structuring.

Scenario	Current position
Application filed before 3 April 2025	May still be decided under the old rules, according to the transitional provision.
Valid investor permit in force on 3 April 2025	Remains valid for its issued term.
Renewal of an existing investor permit	Can still be processed under the rules in force when the initial permit was granted.
New applicant buying property after the reform	No new golden visa route based on that purchase.

Why Spain ended the Golden Visa route

The political and legal debate around the Golden Visa was closely linked to housing pressure, affordability, and the role of foreign capital in high-demand markets.

The Spanish government publicly linked the reform to the need to avoid treating housing primarily as a speculative asset in areas where local access is already strained.

Whether the repeal alone will materially change affordability is still debated.

But the direction of policy is clear: Spain no longer wants property acquisition to function as a fast-track immigration mechanism.

For legal and tax planning, that changes the conversation.

Property acquisition now needs to stand on its own merits, with buyers looking separately at immigration status, tax exposure, and ownership structuring.

That is especially important when there are questions about legal fees when buying Spanish property, Spanish mortgage review, legalising unregistered property in Spain, or regional property taxes in Spain.

Alternatives to the Golden Visa in Spain

Now that the Golden Visa no longer opens the door to new residency in Spain, the practical question is which route actually fits the applicant’s life.

The right route depends on whether the applicant wants to work, work remotely, retire, launch a business, relocate a family, or move toward long-term residence.

Alternative route	Who it may suit	Main idea
Non-lucrative visa	Retirees, financially independent applicants, or families living from savings, pensions, or passive income	Allows residence in Spain without carrying out work or professional activity in Spain. Read more about the Spanish non-lucrative visa.
Digital nomad visa / international remote work	Remote employees and self-employed professionals working mainly for non-Spanish companies	A strong alternative for mobile professionals. See the guides on the digital nomad visa in Spain and the W-2 digital nomad visa angle.
Entrepreneur residence	Founders launching an innovative or economically relevant project in Spain	Still available under Law 14/2013, but it is not a property-investment route. The project must be innovative or of special economic interest.
Highly qualified professional permit	Senior hires, specialists, and executives recruited by qualifying employers	Useful where a Spanish employer or group company is sponsoring the move.
Family-based residence	Spouses, partners, children, or dependent relatives of people already holding rights in Spain	Often overlooked, but sometimes more stable than investor-based planning.
Long-term residence	Applicants with a sufficient period of lawful residence already accumulated	For many current residents, the real strategy is not replacing the Golden Visa but moving toward long-term residence in Spain.

1) Non-lucrative visa

The non-lucrative visa remains one of the clearest alternatives to the old Golden Visa for applicants who do not need to work in Spain.

Official consular information describes it as a visa for third-country nationals who wish to reside in Spain without carrying out work or professional activity.

That makes it particularly relevant for retirees, people living from investments, and internationally mobile families with independent means.

2) Digital Nomad visa

For remote workers, the digital nomad route has become one of the most visible replacements for the Golden Visa in public discussion.

Official consular guidance describes it as a permit for foreigners who want to carry out remote work or professional activity for companies located outside Spain using information and telecommunications systems.

If that profile matches, it is usually more suitable than trying to force a property purchase into an immigration strategy.