Spain’s Golden Visa programme — which allowed non-EU nationals to obtain residency by purchasing property worth at least €500,000 — came to an end for new applicants effective April 2025. The Spanish government announced the closure citing concerns about housing affordability pressure in major cities, and the change has generated considerable confusion among prospective property buyers.
This guide explains clearly what happened, what it means for property buyers in 2026, and what the realistic residency alternatives are for non-EU nationals who want to live in Spain or use Spain as a base.
The key point to state upfront: buying property in Spain is entirely unaffected. Non-EU nationals can still purchase property in Spain freely, as they could before the Golden Visa existed and as they can throughout the EU. What ended was a specific fast-track residency shortcut tied to high-value property purchases. Property rights and ownership are a separate matter.
What Was the Spanish Golden Visa?
Spain introduced the Golden Visa (Visado Dorado) in 2013 under Law 14/2013 (Ley de Emprendedores). The visa offered residency permits to non-EU nationals who made qualifying investments in Spain, the most common of which was a real estate purchase of at least €500,000 (free of any mortgage).
The key features that made it attractive:
- Residency without living in Spain: Golden Visa holders were not required to spend significant time in Spain to maintain the permit. The minimum stay requirement was minimal compared to standard residency routes.
- Path to permanent residency: After five years of holding the permit (with minimal physical presence), holders could apply for long-term residency; after ten years, for Spanish citizenship.
- Family inclusion: The holder’s spouse and dependent children could be included on the same permit.
- Schengen zone access: As Spanish residents, Golden Visa holders had access to travel within the Schengen area.
The programme attracted buyers primarily from Russia, China, the Middle East, and Latin America — buyers for whom €500,000 property purchases were achievable and for whom the residency-without-presence provision was the primary draw.
What Changed in April 2025
The Spanish government under Prime Minister Pedro Sánchez announced the discontinuation of the property-based Golden Visa route as part of a broader housing affordability agenda. The formal termination of new applications took effect in April 2025.
Several points are important to understand correctly:
Only new applications were terminated. Existing Golden Visa holders and those whose applications were in process before the cut-off date were not affected. Renewals for existing permit holders continue under the original terms.
Only the property-based route was closed. The broader Law 14/2013 investor visa framework included other qualifying investment routes: investment in Spanish government bonds, investment in Spanish companies or business projects, and bank deposits. The status of these alternative routes under the law should be confirmed with a qualified Spanish immigration lawyer, as the regulatory picture may have evolved since the property route closure.
Buying property remains fully legal and straightforward. This is worth repeating because the publicity around the Golden Visa closure created a mistaken impression among some buyers that Spain had restricted foreign property purchase. It has not. Non-EU nationals buy property in Spain under the same rules as before: with a NIE (Número de Identificación de Extranjero), via a notarial escritura process, paying the applicable taxes. There is no nationality restriction on property ownership.
Residency Alternatives for Non-EU Property Buyers in 2026
For non-EU nationals who want to live in Spain — whether as a primary residence, extended stay, or part-year base — the Golden Visa was never the only route. The alternatives that exist in 2026 are genuine options, though each has different requirements:
Non-Lucrative Visa (Visado de Residencia No Lucrativa)
The Non-Lucrative Visa (NLV) is the standard residency route for non-EU nationals who want to live in Spain without working for a Spanish employer. It does not require a property purchase, though owning or renting a property in Spain is typically required as part of demonstrating accommodation provision.
Key requirements:
- Proof of sufficient financial means: The Spanish authorities require evidence that you can support yourself (and any dependents) without income from Spanish employment. The minimum monthly income threshold is tied to the Spanish IPREM (a public income indicator) — the exact figure is updated and should be verified with a Spanish immigration specialist at the time of application, but it is broadly in the range of €2,000–€3,000 per month (or an equivalent lump sum in savings) per person.
- Private health insurance: Comprehensive private health insurance covering Spain is required.
- Clean criminal record certificate: From your country of origin and any country where you have resided in the preceding five years.
- Physical presence requirement: Unlike the Golden Visa, the NLV requires genuine residence in Spain. To renew and eventually qualify for long-term residency, you must spend the majority of your time in Spain. This is a meaningful distinction for buyers who want occasional use of a Spanish property rather than genuine relocation.
Duration and renewal: The initial NLV is valid for one year. It can be renewed in two-year increments. After five years of continuous legal residence, long-term EU residency (residencia de larga duración) becomes available; Spanish nationality after ten years of residence.
What the NLV is and is not: It is a solid, well-established route for buyers who genuinely intend to live in Spain. It is not a substitute for the Golden Visa’s specific appeal — minimal presence requirement — because the NLV requires actual residence. Buyers who want to own a Spanish property but continue living primarily elsewhere cannot use the NLV to establish nominal Spanish residency without actual compliance.
Digital Nomad Visa (Visa de Nómada Digital)
Spain introduced a Digital Nomad Visa under Law 28/2022 (Ley de Startups) to attract remote workers and self-employed professionals. This is a relatively new route, operational since 2023, and it has attracted interest from buyers who combine remote work with relocation to Spain.
Who it targets: Non-EU nationals who work remotely — either as employees of a company based outside Spain, or as self-employed professionals whose clients are predominantly outside Spain. The visa is not for people who want to work for Spanish companies or Spanish clients as their primary income (above a certain percentage threshold, which a specialist can confirm).
Key requirements:
- Remote work or self-employment: Evidence that you work online for a company or clients based outside Spain. Employment contracts or client agreements, proof of remote work arrangements.
- Minimum income: Spain requires evidence of a minimum monthly income for the Digital Nomad Visa — broadly in the range of the Spanish average wage (the precise threshold is subject to regulatory update). This is typically lower than the NLV income threshold but serves the same purpose of demonstrating financial self-sufficiency.
- Professional qualifications: Evidence of relevant professional qualifications or professional experience (typically three years or a relevant degree).
- Health insurance: Comprehensive private health insurance covering Spain.
Duration: The Digital Nomad Visa is initially valid for one year (if obtained from outside Spain) or up to three years if obtained as a permit in Spain. It is renewable, and after five years of continuous residence it can convert to a standard long-term residency permit.
Tax treatment note: Digital Nomad Visa holders may be eligible for Spain’s special expat tax regime (Régime Especial de Trabajadores Desplazados, also known as the Ley Beckham), which allows certain qualifying newcomers to be taxed as non-residents on Spanish income for an initial period. This is a complex area of tax law and requires qualified advice — the Beckham law rules are specific and the consequences of misapplication are significant.
Practical reality: The Digital Nomad Visa is appropriate for buyers who are genuinely remote workers or digital freelancers. It is not a vehicle for property investors who do not have remote employment income — the income and employment evidence requirements are real and are checked.
Standard Residency via Long-Term Stay
For non-EU buyers who intend to live in Spain permanently and have income from pensions, investments, or other sources, the NLV combined with genuine residence is the most straightforward route to eventual permanent residency and potentially Spanish citizenship over a longer timeframe.
It is also worth noting that EU/EEA and Swiss nationals face no restrictions whatsoever on living in Spain — they can purchase property, establish residence, and work without any visa requirement. The Golden Visa closure affects only non-EU nationals.
What About EU Residency Elsewhere as a Route to Spain?
Some buyers have explored obtaining residency in other EU member states — some of which retain golden visa-type programmes — and then exercising EU free movement rights to live in Spain. This is a complex area of EU law, and the practical availability of this route depends on the specific circumstances, the country of initial residency obtained, actual residence compliance, and Spanish domestic immigration rules. This is territory for specialist immigration legal advice, not general property guidance.
Buying Property Without Residency: The Normal Case
The large majority of non-EU nationals who buy property in Spain do not seek residency through the purchase at all. They buy as non-residents — and that is entirely normal and legally uncomplicated.
As a non-resident property owner in Spain, you can:
- Own the property freely with no time restrictions
- Use it for personal stays — Spain allows non-visa visitors from many countries to stay up to 90 days in any 180-day period under the Schengen Zone rules
- Rent it out (with applicable VUT licence for short-term tourist letting)
- Sell it at any time
What you do not have as a non-resident owner is the right to live in Spain indefinitely. For stays beyond the Schengen 90/180 rule, a residency visa is required.
The practical framework for non-resident ownership is: the property is fully yours; Spain taxes non-resident property owners on rental income and on notional imputed income even if the property is vacant (IRNR); IBI is payable annually. The complete picture of non-resident tax obligations is covered in our guide to property taxes in Spain for non-residents.
Why Buyers Still Come to Spain in 2026
The Golden Visa’s closure has not materially changed the reasons why international buyers purchase property on the Costa Blanca or in Alicante province. Those reasons were never primarily about residency — the residency benefit was a significant draw for a specific buyer segment (primarily buyers whose primary motivation was visa optionality), but the majority of international buyers on the Costa Blanca have always been buying for lifestyle, yield, and capital preservation rationale.
The structural factors — 300+ days of sunshine, competitive pricing against comparable Mediterranean markets, established airport infrastructure at Alicante-Elche Airport, year-round international community, active rental market — remain unchanged. The 2026 Alicante property market overview covers these demand drivers in detail.
For buyers whose interest was specifically in residency-by-investment, the landscape has narrowed. But for buyers whose primary interest is a property — to live in, to rent out, or to hold as an asset — the Golden Visa’s closure is genuinely incidental.
What This Guide Does Not Cover
Immigration law is specific, frequently updated, and highly dependent on individual circumstances. This guide provides a factual overview of the landscape as understood at the time of writing — it is not legal advice, and the details of any visa application (income thresholds, documentation requirements, processing timelines) can change. If you are considering applying for any Spanish residency visa, consult a qualified Spanish immigration lawyer (abogado de extranjería) who practises currently in this area.
Similarly, the tax implications of Spanish residency — including the potential application of the Beckham law for Digital Nomad Visa holders and the difference between resident and non-resident tax treatment of investment income — require qualified tax advice specific to your circumstances. General overviews are not a substitute.
Inversa Development: Property in Alicante Province
Inversa Development — operating as Makarov e Hijos, Sociedad Cooperativa (CIF F42521534), registered at Av. Doctor Gadea, 14 Bajo, 03001 Alicante — develops residential properties in Alicante province, including new-build apartments and structured co-investment products for qualified investors.
Our buyers and investors come from across Europe and beyond. The process of acquiring a property from us is the same for non-residents as for residents: NIE, standard escritura process, full documentation at every stage. We actively encourage buyers to use independent legal representation and can provide introductions to English-speaking solicitors familiar with non-resident transactions.
For buyers who are also evaluating residency options, we can assist with introductions to immigration specialists — but residency advice sits firmly outside our scope as a developer.
Legal disclaimer: This article is informational only and does not constitute legal, immigration, or tax advice. Immigration rules, visa requirements, income thresholds, and tax regulations are subject to change and vary by individual circumstances. The information provided reflects our understanding of the situation as at the date of publication; we cannot guarantee its continued accuracy. Consult a qualified Spanish immigration lawyer (abogado de extranjería) before making any visa or residency application. Investment products offered by Inversa Development (Makarov e Hijos, Sociedad Cooperativa, CIF F42521534) are structured as bilateral private agreements and do not constitute a public offering under Ley del Mercado de Valores (LMV).