Property-Based Route
Qualifying real estate investment could previously form the basis of an investor residence application.
Immigration & Residency
Golden Visa in Spain Abolished
What Non-EU citizens can do now and which legal residency alternatives remain available in Spain.
Spain Residency Update
The Golden Visa has ended. What comes next?
Spain’s investor residence regime, commonly known as the Golden Visa, came to an end for new applications with effect from 3 April 2025.
This represents an important change for non-EU citizens who previously considered property investment as a direct route to residence in Spain.
Property ownership remains possible, but immigration status must now be considered separately from the property purchase itself.
Previous Regime
What Was the Golden Visa?
The Golden Visa was an investor residence route available to qualifying non-EU nationals under Spain’s Law 14/2013.
One of the best-known routes involved qualifying investment in Spanish real estate, subject to the legal requirements applicable at the time.
The regime was attractive because it connected qualifying investment with immigration rights, while allowing investors to structure their personal presence in Spain according to their circumstances.
Immigration Status
Successful applicants could obtain residence rights under the investor framework.
Closed to New Applications
The investor provisions ceased to apply to new applications from 3 April 2025.
Property ownership no longer means residence.
The abolition of the investor residence route means that purchasing property in Spain no longer creates an independent immigration route for new applicants.
Non-EU citizens who do not hold a residence permit or long-stay visa remain subject, in general, to the Schengen short-stay rules.
This normally means a maximum stay of 90 days within any rolling 180-day period across the Schengen Area.
Residency Alternatives
What Options Are Still Available?
The appropriate route depends on the applicant’s personal, professional and financial circumstances. There is no single replacement for the former Golden Visa.
Non-Lucrative Residence
This route may be appropriate for individuals who wish to reside in Spain without carrying out professional or employment activity.
Applicants must satisfy the applicable financial, insurance and immigration requirements.
International Teleworking
Spain maintains a residence framework for qualifying third-country nationals who work remotely for companies located outside Spain.
Eligibility depends on the professional relationship, qualifications, documentation and other statutory requirements.
Entrepreneur Residence
This route may apply to applicants intending to develop an innovative entrepreneurial project considered to have special economic interest for Spain.
The project and applicant are assessed against the requirements of the applicable entrepreneur framework.
Tax planning is separate from immigration status.
Some individuals relocating to Spain may qualify for Spain’s special
tax regime for inbound workers, but eligibility must be analysed
independently. Holding a Digital Nomad residence authorisation does
not automatically guarantee a particular tax treatment.
Strategy
Why Legal Advice Is More Important Now
The former investor regime offered a defined immigration route linked to qualifying investment.
Today, applicants must choose a residence route based on their actual circumstances rather than on property ownership alone.
Factors such as employment, remote work, financial resources, family circumstances, business plans and intended length of stay can all affect the most appropriate option.
Immigration and tax consequences should therefore be reviewed together before making long-term relocation decisions.
What About Existing Golden Visa Holders?
The abolition contains transitional provisions for applications, visas and authorisations connected with the previous investor regime.
Existing cases should therefore be reviewed according to the date of the original application or authorisation and the specific transitional rules that apply.
Renewals should not be described as automatic. Each case must continue to satisfy the legal requirements applicable under the transitional framework.
Do Not Overstay in Spain
Non-EU nationals relying on short-stay rights must carefully monitor their permitted period in the Schengen Area.
In general, short stays are limited to 90 days within any rolling 180-day period unless the person holds an applicable residence permit or long-stay visa.
Anyone planning to relocate should identify the appropriate immigration route before exceeding their permitted stay, rather than assuming that an irregular situation can simply be corrected afterwards.
Conclusion
The Golden Visa has ended. Spain has not.
Property investment alone no longer provides a new direct route to Spanish residence, but several immigration pathways remain available depending on the applicant’s circumstances.
The correct solution may involve non-lucrative residence, international teleworking, entrepreneurship or another immigration category available under Spanish law.
The key is to separate three decisions that were previously often treated together: buying property, obtaining residence and planning Spanish tax residence.
These should now be structured deliberately from the beginning.
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