Legal & Tax · 9 min
Spain's Golden Visa Has Ended: What Are the Alternatives in 2026?
2 June 2026 · Hansson & Hertzell
Spain's property-based Golden Visa programme ended in April 2025. For non-EU buyers seeking residency through investment, here are the alternatives that remain available.
# Spain's Golden Visa Has Ended: What Are the Alternatives in 2026?
In April 2025, Spain formally ended its property-based Golden Visa programme. The scheme — which granted residency to non-EU nationals who purchased property worth at least €500,000 — was discontinued amid concerns about its contribution to housing unaffordability in major cities. This has significant implications for non-EU buyers who were considering it as a route to Spanish residency.
What Was the Golden Visa?
The Spanish Investor Visa (colloquially called the Golden Visa) was introduced in 2013 and allowed non-EU nationals to obtain a two-year residency permit (renewable for five years) by purchasing Spanish real estate worth at least €500,000, either as a single property or multiple properties.
The permit allowed the holder and their immediate family to live, work, and travel freely within the Schengen Area. It was particularly popular with buyers from China, Russia, the USA, the Middle East, and Latin America.
Why It Ended
The Spanish government, under Prime Minister Pedro Sánchez, announced the phaseout in late 2024, citing evidence that the programme was driving up property prices in Barcelona, Madrid, Valencia, and the Canary Islands. Critics argued it incentivised property speculation rather than productive investment. The programme formally ended for new applications in April 2025.
What Alternatives Remain?
1. The Non-Lucrative Visa (Visa de Residencia No Lucrativa)
The most relevant alternative for retirees and financially independent individuals. Requirements:
- Proof of passive income or savings sufficient to support yourself without working in Spain: approximately €28,800 per year (2,400 € per month) for the primary applicant, plus about €7,200 per additional family member
- Private health insurance valid in Spain
- Clean criminal record
- No plans to work in Spain (employment is prohibited under this visa)
The non-lucrative visa grants a one-year initial permit, renewable for two-year periods. After five years you can apply for long-term residency.
2. The Digital Nomad Visa (Startups Act — since 2023)
For remote workers and freelancers employed by non-Spanish companies. Requirements:
- Proof of remote employment or self-employment with non-Spanish clients
- Minimum income: approximately €2,500–3,000 per month
- University degree or 3+ years of professional experience in the relevant field
The digital nomad visa allows you to live in Spain and work remotely for foreign employers or clients. Unlike the non-lucrative visa, you can generate income. Duration: one year, renewable.
3. The Investment Visa (Non-Property)
The Golden Visa programme for business investment remains available (property was just one option). Alternative qualifying investments:
- €1 million+ in Spanish company shares or investment funds
- €1 million+ deposit in a Spanish bank
- €2 million+ in Spanish government bonds
These thresholds are higher and less accessible than the property route, but for high-net-worth investors, the investment visa pathway continues.
4. EU Citizenship Routes
Some non-EU buyers pursue citizenship by descent (for those with Spanish ancestry), or naturalisation after 10 years of legal residency (2 years for nationals of Latin American countries, the Philippines, Equatorial Guinea, and Andorra). These are longer-term routes.
Implications for Property Buyers on the Costa Blanca
The end of the property Golden Visa primarily affects non-EU buyers who were using property purchase as a residency strategy. For:
- EU citizens (British post-Brexit included — the UK is not EU): EU citizens still have full rights to reside in Spain without any visa. The Brexit agreement maintains this for those who registered their residency before 31 December 2020.
- British buyers (post-Brexit): British nationals must obtain a visa for stays exceeding 90 days in any 180-day period. The non-lucrative visa is the most common route for British retirees relocating to Spain.
- Scandinavian, Dutch, German, French buyers: As EU citizens, no residency restrictions apply.
- American, Australian, Canadian buyers: The non-lucrative visa or digital nomad visa are the primary options for long stays.
The Costa Blanca property market is primarily driven by EU buyers who are unaffected by the Golden Visa closure. For the small subset of non-EU buyers who were motivated by the programme, alternative routes remain available.
