Search “Spain golden visa” today and you will still find agency pages advertising residence for a €500,000 property purchase. That route is closed. Spain stopped accepting new golden visa applications on 3 April 2025. If you have capital and want to live in Spain, the question now is which other residence permit fits how you will actually live there. This guide covers what changed, what happens to people who already hold a golden visa, and the routes still open in 2026.
What actually happened
The abolition did not come from a standalone immigration law. It was added to a justice-reform law, Organic Law 1/2025 of 2 January, which was published in Spain’s Official State Gazette (BOE) on 3 January 2025. According to the Spanish government’s Oficina Nacional de Extranjería guidance, the law repealed Articles 63 to 67 of Law 14/2013, the 2013 entrepreneurs law that had created the investor visa. The repeal took effect after a three-month delay, on 3 April 2025.
Before the repeal, the investor visa offered three main ways to qualify:
- buying real estate worth at least €500,000;
- investing in a qualifying business project;
- buying Spanish public debt or other high-value financial assets, such as shares or bank deposits.
All three routes ended together. A large Spanish investment is still welcome, but on its own it no longer gives you a right to live in Spain.
Why Spain ended it
The official reason was housing. The government pointed to a sharp rise in home purchases by non-resident foreign buyers since 2022. The numbers were smaller than the political debate suggested. Idealista’s analysis found that 14,576 golden visas were granted for property purchases over €500,000 between 2013 and 2023. That is about 0.3% of residential transactions over the life of the scheme. ONE’s guidance describes the shift as favouring “real economic impact” over passive asset holding. In practice, the routes that remain ask what you will do in Spain, not just what you will buy.
If you already hold a golden visa, or applied before the cutoff
This is the part most out-of-date content gets wrong. Spain did not cancel existing permits. Under ONE’s transitional guidance:
- Applications filed before 3 April 2025 continue under the old rules.
- Existing investor authorisations stay valid until their original expiry date.
- Renewals are decided under the rules in force when your permit was first granted. Idealista reports the same position.
In practice, you can renew if you keep the qualifying investment. If you sold the €500,000 property, you will probably not meet the old renewal conditions. In that case, plan a move to another residence status well before your permit expires. ONE’s guidance does not set out separate rules for family members, so if your spouse or children hold permits as your dependants, confirm their renewal position directly with the UGE-CE.
What to apply for instead
There is no direct replacement for “invest and get residence”. Spain does have three routes that cover most of the people who used to look at the golden visa. Pick by how you plan to earn money while living in Spain.
1. Non-Lucrative Visa: if you will live off your own money
The Non-Lucrative Visa (NLV) is the closest substitute for retirees and other financially independent people who wanted a golden visa for lifestyle reasons. The Spanish Consulate in Washington sets the 2026 financial requirement at 400% of IPREM, which is €28,800 a year for the main applicant, plus €7,200 a year for each dependant. You also need private health insurance with no co-payments or coverage limits.
The NLV has two big differences from the golden visa:
- It does not allow any work. The consulate’s wording covers all professional activity, “including remotely (online)”.
- You must actually live in Spain. The golden visa never required that.
For full details, see our Spain Non-Lucrative Visa guide.
2. Entrepreneur permit: if you will build a business in Spain
This is the route for people who wanted the golden visa’s business-investment option. It is handled by the UGE-CE (Unidad de Grandes Empresas y Colectivos Estratégicos). According to ONE’s procedure page, it grants a 3-year residence permit that includes the right to work. Renewals are also for three years, and the stated decision time is about 30 days. Family members get permits that let them both live and work in Spain.
The difference from the golden visa: there is no fixed investment amount. Instead, you need a favourable report from ENISA, the state innovation agency, confirming that the project is innovative and of special economic interest to Spain. You also need to submit:
- a business plan;
- proof that you have enough money for yourself and your family;
- health insurance from an insurer authorised in Spain;
- criminal-record certificates where they apply.
A conventional business, such as buying an existing restaurant, usually will not pass the innovation test. A credible tech or scalable product business has a much better chance.
3. Digital Nomad Visa: if you will keep working for clients abroad
If your income comes from employers or clients outside Spain, the international telework visa lets you live in Spain and keep that work. The NLV does not. The income threshold is linked to Spain’s minimum wage, and no more than 20% of your income can come from Spanish companies. Thresholds, family add-ons and the choice between applying at a consulate or through the UGE-CE are covered in our Spain Digital Nomad Visa guide. If you are deciding between Spain and Portugal on these terms, our Portugal D7 vs Spain Digital Nomad comparison sets them side by side.
If investment-linked residence is the whole point
Some readers specifically want residence through investment without moving full time. Spain no longer offers that. Portugal’s programme is still running in a narrower form, without a real-estate option; see our Portugal Golden Visa guide for its current investment routes and minimum-stay rules.
Quick decision guide
| Your situation | Route to look at first |
|---|---|
| Retired or living off savings, pensions or rental income | Non-Lucrative Visa |
| Founding an innovative, scalable company in Spain | Entrepreneur permit (ENISA + UGE-CE) |
| Employed by or contracting for companies abroad | Digital Nomad Visa |
| Already a golden visa holder, investment still held | Renew under your original rules |
| Want residence mainly as an investment hedge | Look outside Spain |
FAQ
Can I still get a Spanish golden visa by buying a €500,000 property? No. Since 3 April 2025, buying real estate, public debt, shares or bank deposits no longer qualifies you for residence on its own. You can still buy property, but you need a separate residence basis.
I already hold a Spanish golden visa. Do I lose it? No. Existing authorisations stay valid until they expire, and renewals are decided under the rules that applied when the permit was first granted. You still need to meet the original investment conditions.
Which law abolished the Spanish golden visa? Organic Law 1/2025 of 2 January. It repealed Articles 63 to 67 of Law 14/2013 with effect from 3 April 2025.
Is there a minimum investment for Spain’s entrepreneur permit? The law sets no fixed capital threshold. The key requirement is a favourable ENISA report on how innovative your project is and its economic interest to Spain, plus proof of funds and health insurance.
Working out which permit fits your income, family and plans used to be simple: buy property, apply. Now it is a real eligibility question. VisaMet’s AI assistant is being built to help you answer it before you spend money on the wrong route. Join the waitlist for early access.
Sources:
- Oficina Nacional de Extranjería: The Abolition of the Investor Visa in Spain and Its Implications
- Oficina Nacional de Extranjería: Residence Application for Entrepreneurs
- Consulate General of Spain in Washington: Non-working Residency Visa
- Idealista: Spain shuts down golden visa scheme after 12 years
This guide is general preparation information, not legal advice. Transitional and renewal rules are applied case by case, so confirm your situation with the UGE-CE, the Ministry of Inclusion, Social Security and Migration, your Spanish consulate, or a licensed Spanish immigration lawyer before you make investment or relocation decisions.