If you’ve seen “Spain Golden Visa” come up in your property search, the short answer is: it’s gone. Spain ended the real estate investor visa program on April 3, 2025, and there’s no equivalent replacement. Here’s what that actually means if you’re buying property in Spain today.
What the Golden Visa Used to Offer
Until April 2025, non-EU citizens who invested at least €500,000 in Spanish real estate could obtain a renewable residency permit, with minimal physical presence requirements and a path to permanent residency and eventually citizenship. It was popular with American, British (post-Brexit), and other non-EU buyers who wanted residency rights without relocating full-time.
Why Spain Abolished It
The Spanish government ended the program as part of a broader housing affordability push, arguing that investor demand — concentrated in Madrid, Barcelona, Valencia, and the Balearic Islands — was contributing to rising property prices and reducing supply for local residents.
What Happens If You Already Have One
If you obtained your Golden Visa before April 3, 2025, your existing residency remains valid, and renewals continue to be processed for successive 5-year periods as long as you still meet the original investment conditions. The abolition affects new applicants only, not existing holders.
What Replaces It for Property Buyers Today
There is no direct replacement. Buying property in Spain in 2026 no longer grants any residency rights by itself — you can own a home as a non-resident and visit freely for up to 90 days in any 180-day period (as a UK/US citizen), but living there long-term requires qualifying for a separate visa on its own merits:
| Visa | Who it’s for | Property purchase required? |
|---|---|---|
| Non-Lucrative Visa | Retirees, those with passive income/savings | No, just proof of accommodation |
| Digital Nomad Visa | Remote workers/freelancers for non-Spanish companies | No |
| Work visa | Those with a job offer from a Spanish employer | No |
| Entrepreneur visa | Those starting an innovative business in Spain | No |
Does This Change Whether You Should Buy?
Not necessarily. Most foreign buyers were never using the Golden Visa route to begin with — the vast majority purchase as non-resident second-home owners with no residency ambitions, or qualify for residency separately through the Non-Lucrative or Digital Nomad visas. If your goal was specifically residency-through-investment, that door is now closed, and you’ll need to plan around one of the alternative visa categories instead.
Frequently Asked Questions
Is there any minimum investment that still grants residency in Spain?
No. As of April 2025, no level of real estate, bank deposit, or securities investment grants Spanish residency on its own.
Can I still buy property in Spain as a non-EU citizen without a visa?
Yes, property ownership itself has no nationality or residency restriction in Spain — you simply need an NIE, same as any other foreign buyer.
Did the abolition affect property prices?
It’s too early to draw firm conclusions sitewide, though the policy was specifically targeted at easing demand pressure in the markets most popular with investor-visa buyers.