Spain Golden Visa 2026: What Changed and What Comes Next for Investors

Spain's Golden Visa made headlines in April 2025 when the government abolished the whole programme — including, but not limited to, the real estate investment route. If you've been researching investment residency in Spain and are wondering what's left — this article covers what actually changed, why no investor route survived, and how non-EU nationals are obtaining residency in Spain in 2026.

What exactly changed in April 2025?

On 3 April 2025, Organic Law 1/2025 abolished Spain's Golden Visa (Residency by Investment) in full. It struck out Articles 63–67 of Law 14/2013, which had been the entire legal basis for the investor residency programme. Every investment route disappeared on the same date — the €500,000 real estate purchase, the €2 million government-bond route, the €1 million company-shares route, the €1 million bank-deposit route, the €1 million investment-funds route, and the discretionary "business project of general interest" route.

The real estate route was the most popular Golden Visa pathway, used primarily by buyers from China, Russia, the UK, and the US — which is why the public debate focused on it. But the law did not stop at property: it ended the whole programme.

The closure was driven by housing affordability concerns. Prime Minister Pedro Sánchez announced that the programme was contributing to housing price inflation in Madrid, Barcelona, and coastal areas, pricing out Spanish residents.

Applications submitted before 3 April 2025 are still processed under the old rules, and existing Golden Visa holders keep their status and can renew it under the rules in force when their permit was granted.

Are any Golden Visa investment routes left in 2026?

No. This is the point most often misreported. The abolition was not limited to the property route — every investment category was eliminated on 3 April 2025. The following routes are no longer available to new applicants:

• Real estate purchase (formerly €500,000): abolished.
• Company shares / bank deposit (formerly €1 million): abolished.
• Spanish government bonds (formerly €2 million): abolished.
• Investment funds (formerly €1 million): abolished.
• Business project of general interest: abolished.

There is no "residency by investment" option in Spain in 2026. If you read elsewhere that the non-property routes "survived", that information is out of date — the law voided Articles 63–67 of Law 14/2013 in their entirety, and Spanish immigration firms confirm that no investor route remains. Non-EU nationals who want to live in Spain now use the residency routes covered below.

Can I still buy property in Spain as a foreigner?

Yes — completely. The end of the Golden Visa property route does not restrict property purchase in any way. Foreigners can still buy property in Spain as before.

The key change: purchasing property no longer automatically gives you residency. You will still need a valid visa and residence basis if you want to live in Spain.

Property purchases still carry significant tax implications — particularly for non-residents. See our Real Estate & Investment service page for details.

What residency routes are available instead in 2026?

With the Golden Visa gone, non-EU nationals — including Russian and Ukrainian citizens — use the standard residency routes. There is no nationality-specific bar on any of them. The main options in 2026:

• Digital Nomad Visa: If you work remotely with an income of roughly €2,849+/month, you can get legal residency without investing anything. This is the most popular route for working-age expats. Read our Digital Nomad Visa tax guide.
• Non-Lucrative Residence Visa: For people with passive income (pensions, investment income, rental income) who don't need to work in Spain. Requires proving financial self-sufficiency — around €2,400/month (€28,800/year) for a single applicant, plus extra for each dependant.
• EU Long-Term Residence: If you've been a legal resident in an EU country for 5 years, you can transfer that status to Spain relatively easily.
• Arraigo: If you've been in Spain for several years already (including without documentation), arraigo routes provide a path to regularisation.

Tax implications of becoming a Spanish resident investor

Regardless of which route you use to gain residency, once you spend 183+ days in Spain you become a Spanish tax resident — with obligations to declare worldwide income and assets.

For investors, this means:

• Foreign investment income (dividends, interest, capital gains) is taxable in Spain
• Foreign real estate must be declared in Modelo 720 if over €50,000
• The Beckham Law may apply if you're a newly arrived investor — worth exploring

Get a consultation before you establish residency — the tax planning decisions made at the point of arrival have long-term consequences. International Tax consultation.