Spain golden visa: it has ended, and what to use instead

Spain’s golden visa has ended. Since April 2025, Spain no longer grants residency in return for buying property or making other investments. Many websites still describe the program as if it were open, so check the date on anything you read.

What the golden visa was

From 2013, Spain offered a residence permit to non-EU citizens who made a qualifying investment. The routes were:

• Real estate worth €500,000 or more, which was by far the most used.
• Larger sums placed in Spanish bank deposits, company shares, investment funds or government debt.
• A business project judged to be of general interest.

Its appeal was flexibility. Holders could work, could include their family, and didn’t have to live in Spain to keep the permit.

Why it ended

The Spanish government linked the program to rising housing costs in cities such as Barcelona, Madrid, Málaga and Valencia. A law passed at the start of 2025 removed the investor visa, and it took effect in April 2025. The whole investor category was removed, not only the property route.

If you already hold one, or applied in time

• Permits issued before the end date remain valid.
• Holders have been able to renew under the old rules.
• Applications filed before the deadline were to be processed under the old rules.

If this is you, have an immigration lawyer confirm how your next renewal works. Years as a golden visa holder count toward long-term residency only if you actually lived in Spain during them.

What to use instead

Route	Who it suits	Must you live in Spain?
Non-lucrative visa	People with passive income or savings of roughly €29,000 a year who won’t work	Yes, more than half the year to renew
Digital nomad visa	Remote workers earning roughly €2,700 to €2,900 a month from outside Spain	Yes
Entrepreneur visa	Founders of an innovative business, with a plan approved by a government agency	Yes
Highly qualified professional permit	Managers and specialists hired by a Spanish company	Yes

Most people who would have considered the golden visa now use the non-lucrative visa. The money required is far lower. The trade-offs are that you can’t work, and that you have to make Spain your main home.

The difference that matters most: tax

A golden visa holder could keep a home in Spain, visit for a few weeks a year and stay outside the Spanish tax system. The routes that remain require you to live in Spain for most of the year, and more than 183 days a year generally makes you a Spanish tax resident, taxed on worldwide income and covered by the wealth tax.

For people with substantial assets this changes the calculation more than the visa itself does. See taxes in Spain and take cross-border tax advice before you choose a route.

If you only want to spend part of the year in Spain

You may not need residency. US citizens can spend up to 90 days in any 180-day period in the Schengen area without a visa, which allows roughly half the year in two or more visits. You can own a home in Spain on that basis. You can’t stay longer, and time in other Schengen countries counts toward the same 90 days.

Buying property is still allowed

The end of the golden visa didn’t restrict foreign buyers. Americans can buy a home in Spain as non-residents with an NIE number. Proposals to tax purchases by non-residents from outside the EU more heavily have been discussed in the Spanish parliament, so ask a lawyer about the current position before you commit. See buying property in Spain.

Other countries

Several other European countries have also closed or narrowed their investor programs, and the rules keep changing. If residency through investment is what you need, treat any article more than a few months old with caution and check directly with a lawyer in that country.

For the routes that are open in Spain, start with the residency overview.

Common questions

Is the Spain golden visa still available?

No. Spain stopped accepting new golden visa applications in April 2025. That covers every investment route, including the best-known one, a property purchase of €500,000 or more.

Can I still get Spanish residency by buying property?

No. Americans can still buy property in Spain, but a purchase of any size no longer gives a right to live there. You need a residence visa based on something else, such as passive income or remote work.

What happens to people who already have a Spain golden visa?

Permits granted before the program ended remain valid, and holders have been able to renew under the rules that applied when they were granted. Anyone in that position should confirm their renewal with an immigration lawyer.

What is the best alternative to the Spain golden visa?

For people who don't need to work, the non-lucrative visa. For remote workers, the digital nomad visa. Both require you to actually live in Spain, which the golden visa didn't.