Golden Visa in Spain: What Happened and What Alternatives Exist Now

For more than a decade, Spain's Golden Visa was one of the best-known routes to residency in exchange for an economic investment, mainly in real estate. However, the programme no longer exists for new applications, and confusion is still widespread: thousands of people keep searching for "golden visa spain" without realising the rules changed completely.

In this article we explain exactly what happened to the Golden Visa, what happens to those who already obtained it before it was scrapped, and what legal alternatives now exist for anyone who wants to live in Spain.

Table of contents

1. What was the Spanish Golden Visa?
2. When and why was the Golden Visa scrapped?
3. What happens to people who already have the Golden Visa?
4. Legal alternatives for living in Spain in 2026
5. How to choose the right alternative for your profile?
6. Where to live while you process your residency

Frequently asked questions about the Golden Visa in Spain

What was the Spanish Golden Visa?

The Golden Visa, regulated under Law 14/2013 on support for entrepreneurs, was a residence permit granted to non-EU citizens in exchange for making a significant investment in Spain. The most common routes were:

1. Purchasing real estate worth 500,000 euros or more.
2. Investing in Spanish public debt, with a minimum of 2 million euros.
3. Investing in shares or holdings of Spanish companies, from 1 million euros.
4. Bank deposits in Spanish institutions for large amounts.

In exchange, the investor and their immediate family obtained a residence permit (not necessarily requiring them to live in Spain full-time) with benefits such as free movement within the Schengen area.

When and why was the Golden Visa scrapped?

On 3 April 2025, the definitive elimination of the Spanish Golden Visa programme for new applications came into force. The measure hit the real-estate investment route particularly hard, though in practice it meant the end of the entire programme as it had been known.

The reasons behind the decision

The Spanish government justified the elimination by pointing to the pressure this type of programme puts on the housing market, especially in cities like Barcelona, Madrid, or Valencia, where access to affordable rental housing has become a structural problem. The measure is part of a broader set of policies aimed at curbing purely speculative foreign investment in housing.

What happens to people who already have the Golden Visa?

If you obtained your Golden Visa before 3 April 2025, your rights remain intact. This means that:

1. You can keep renewing your residence permit as normal, as long as you meet the original requirements.
2. You keep all the benefits tied to your status, including free movement within Schengen.
3. However, you cannot sell your qualifying property and buy another one to keep your status: the investment that originally gave rise to your visa is fixed as a condition for renewal.

In practice, this forces many investors to hold on to the original property indefinitely if they want to keep their residency, which has generated constant doubts and legal queries since the rule came into force.

Legal alternatives for living in Spain in 2026

For those who didn't make it in time, or never intended to invest in property, there are several legal routes to residency in Spain that don't depend on a capital investment:

1. Digital nomad visa: designed for professionals working remotely for companies or clients outside Spain. Today, the digital nomad visa (link: /es/blog/visado-nomada-digital-espana-requisitos.html — please confirm this URL) is one of the most popular alternatives, especially among freelancers and remote workers for foreign companies.
2. Non-lucrative visa: aimed at people with their own financial means (savings, pensions, or other income) who want to live in Spain without working for Spanish companies.
3. Entrepreneur visa: for those who want to develop an innovative business project in Spain, backed by a validated business plan.
4. EU Blue Card: aimed at highly qualified professionals with a job offer in Spain and higher education or equivalent experience.

Each of these routes has different requirements, timelines, and tax advantages, so it's worth analysing which one best fits your professional and personal situation.

How to choose the right alternative for your profile?

The right choice mostly depends on your work situation:

1. If you work remotely for a foreign company or foreign clients, the digital nomad visa is usually the fastest and most accessible option.
2. If you have enough savings or passive income and won't be working in Spain, the non-lucrative visa is the natural route.
3. If your plan is to start a business on Spanish soil, the entrepreneur visa is the way to go.
4. If you already have a formal job offer from a Spanish company and high qualifications, the EU Blue Card can offer better long-term conditions.

This type of profile — qualified professionals, remote workers, people in international mobility — is exactly what's known as an expat (link: https://cotown.com/what-is-expat.html): someone who relocates temporarily to another country for professional reasons, and who needs to quickly sort out both their legal status and their housing.

Where to live while you process your residency

Regardless of the route you choose, most of these processes aren't immediate: they can take weeks or even months to resolve. During that time, you need housing that fits your situation: no long-term contracts, everything included, and none of the bureaucracy of a traditional rental.

At Cotown we offer exactly that: shared flats and private apartments designed for temporary stays, ready to move into from day one. If you're considering your move to Spain, find flexible housing in Spain (link: https://cotown.com/destinations.html) in our available cities and start your process somewhere that feels like home from the very first moment.

Frequently asked questions about the Golden Visa in Spain

Can I still apply for the Spanish Golden Visa in 2026?

No. Since 3 April 2025, no new Golden Visa applications are accepted through any of its investment routes, including real estate.

What happens if I already had the Golden Visa before it was scrapped?

You keep all your rights, including renewal, as long as you maintain the original investment that led to the permit.

Can I sell my property and buy another one to keep my Golden Visa?

No. If you sell the qualifying property, you lose the basis on which your renewal depends, unless you meet other alternative requirements set out by law.

What's the fastest alternative to the Golden Visa?

For professionals working remotely, the digital nomad visa tends to be the quickest route, with shorter processing times than other residency categories.

Does scrapping the Golden Visa affect other European countries?

Spain was among the first countries to fully eliminate its real-estate investment residency programme, though other European countries have introduced similar restrictions in recent years.

Do I need a lawyer to apply for these alternatives?

It's not mandatory, but it is highly recommended, especially for entrepreneur visas or the EU Blue Card, where the technical documentation and deadlines are more demanding.