Spain no longer offers the golden visa. Organic Law 1/2025 repealed the investment-based residency provisions of Law 14/2013, and the change took effect on April 3, 2025.1Ministry of Foreign Affairs, European Union and Cooperation. Investor Visa No new applications for investor visas or investor residence permits are being accepted. If you already hold one, or filed before the cutoff, your rights are preserved. Everyone else needs a different route.
When the Program Ended and Why
For more than a decade, non-EU citizens could obtain Spanish residency by investing at least €500,000 in real estate, €1,000,000 in company shares or bank deposits, or €2,000,000 in Spanish public debt. A business project with significant socio-economic impact also qualified. The program drew billions in foreign capital but was blamed for pushing up housing prices in Barcelona, Madrid, and Málaga.
Organic Law 1/2025 eliminated Articles 63 through 67 of Law 14/2013 — the articles that created the investor visa, defined the qualifying investments, and established the investor residence permit.1Ministry of Foreign Affairs, European Union and Cooperation. Investor Visa Spain joined Portugal, Ireland, and other European countries that had already closed or narrowed similar schemes.
If You Applied Before April 3, 2025
Applications submitted before the effective date are processed under the rules that were in force when they were filed.1Ministry of Foreign Affairs, European Union and Cooperation. Investor Visa If you filed before the cutoff and haven’t received a decision, your application is still live.
If You Already Hold a Golden Visa
Existing holders are not losing residency. You can keep renewing as long as you continue to meet the original conditions. That means maintaining the qualifying investment throughout the renewal period, whether it was real estate, shares, bank deposits, or government bonds. Sell the property or liquidate the investment, and the basis for renewal is gone.
At renewal, you’ll document that the investment remains intact. For real estate, that means a current Land Registry certificate showing ownership and no encumbrances on the first €500,000 of value.2Ministry of Foreign Affairs, European Union and Cooperation. Investor Visa For capital investments, a certificate from the Investment Registry or an up-to-date bank statement.3Ministry of Foreign Affairs, European Union and Cooperation. Investor Visa You also need to have entered Spain at least once during the period covered by your current permit.
Family members included on the original application can renew too. Spouses, minor children, financially dependent adult children, and dependent parents of either spouse were all eligible. Minor children who have since turned 18 need to show continued financial dependence, such as full-time enrollment in school supported by the investor.3Ministry of Foreign Affairs, European Union and Cooperation. Investor Visa
Alternatives for New Applicants
Every current option requires you to actually live in Spain for a meaningful part of the year. Buying property and collecting a residence card while based elsewhere is no longer a path. Three routes cover most people who would have looked at the golden visa.
Non-Lucrative Visa
This is designed for people who can support themselves without working in Spain. You cannot be employed, self-employed, or telework. You’ll need financial resources equal to at least 400% of Spain’s IPREM indicator for yourself, plus 100% of the IPREM for each additional family member.4Ministry of Foreign Affairs, European Union and Cooperation. Non-Working (Non-Lucrative) Residence Visa The IPREM is adjusted annually, so confirm the current figure before applying. U.S. applicants also need to show they have no outstanding loans or mortgages at the time of application.
This is the closest match to the old golden visa for retirees and people with independent means. The difference is that you have to move. The initial visa is valid for 90 days, during which you must enter Spain and apply for your Foreigner Identity Card (TIE) within one month.5Ministry of Foreign Affairs, European Union and Cooperation. Foreigner Identity Card (TIE)
Digital Nomad Visa
If you work remotely for a non-Spanish employer or run a freelance business with predominantly foreign clients, this may fit. Spain introduced the category under its 2022 Startup Law. You’ll need monthly income of at least 200% of Spain’s minimum interprofessional salary, which works out to roughly €2,850 or more per month in 2026. Freelancers must earn at least 80% of their income from non-Spanish sources.
The initial visa from a consulate is typically valid for one year; applicants who qualify from within Spain may receive a three-year authorization. Renewals come in two-year increments. Your employer or freelance business must have been operating for at least one year, and you’ll need evidence of current contracts or employment active for at least three months.
Entrepreneur Visa
This is the one category from Law 14/2013 that was not repealed. If you’re launching an innovative business that Spanish authorities consider to be of particular economic interest, you can apply for an entrepreneur visa. The financial threshold is lower than the old investor routes: 100% of the IPREM for yourself plus 50% for each family member.6Ministry of Foreign Affairs, European Union and Cooperation. Entrepreneur Visa The harder part is convincing authorities that the business plan has genuine merit in terms of job creation, innovation, or regional economic development.
Eligible family members mirror what the golden visa allowed: spouse or unmarried partner, minor and financially dependent adult children, and dependent parents.6Ministry of Foreign Affairs, European Union and Cooperation. Entrepreneur Visa
The Tax Catch
The old program let you hold a Spanish residence card while spending most of the year elsewhere, avoiding Spanish tax residency entirely. The alternatives don’t. Spain treats you as a tax resident if you spend more than 183 days in the country during a calendar year, and even below that threshold you can be pulled in if your “centre of vital interests” — family, primary economic activity — sits in Spain. Tax residents owe Spanish income tax on their worldwide income, and residents also face a wealth tax on worldwide net assets above a national exemption of €700,000, with autonomous communities setting their own levels.
There is one significant offset. Spain’s special regime for inbound workers, commonly called the Beckham Law, lets qualifying new residents pay a flat 24% tax rate on Spanish-source income up to €600,000, with the excess taxed at 47%. Foreign dividends, interest, and capital gains are taxed at 0% for the duration of the regime. It lasts six years and is available to people who move to Spain for work and have not been Spanish tax residents in the prior five years. You must apply within six months of registering with Spanish social security. It doesn’t help non-lucrative visa holders, who by definition aren’t working, but it can matter a great deal for digital nomad and entrepreneur visa applicants.
What the Citizenship Clock Looks Like Now
After five years of continuous legal residence, non-EU nationals can apply for permanent residency. “Continuous” means actually living in the country; extended absences can reset the clock. Citizenship by residence generally requires ten years. Shorter periods apply to nationals of Latin American countries, Andorra, the Philippines, Equatorial Guinea, and Portugal, who qualify after two years. People born in Spain or married to a Spanish citizen for at least one year can apply after one year of residency.7Punto de Acceso General. Acquiring Nationality Spain does not generally permit dual citizenship except with the countries listed above, so most applicants must renounce their original nationality.
If you held a golden visa but rarely spent time in Spain, the citizenship countdown is worth thinking through. Years where you held the permit without actually residing in the country don’t count toward the residency requirement. Switching now to physical presence means your ten-year clock is starting later than the date on your original card.