Stay After the End of the Golden Visa

Spain has ended the investor residency, often referred to as the Golden Visa in the real estate sector. Since April 3, 2025, the core provisions of Ley 14/2013 regarding investor visas and investor residence permits have been rendered void. This means that purchasing property in Spain can no longer serve as a standalone basis for a Golden Visa.

For buyers from non-EU countries, the key distinction is: ownership and residence are two separate matters. A house or apartment in Spain can still be bought, sold, rented, or used. However, the purchase alone does not grant the right to live permanently in Spain, work, or exceed the Schengen stay limits.

What exactly has been ended?

The reform was carried out through Ley Orgánica 1/2025, published in the BOE on January 3, 2025. It rendered Articles 63 to 67 of Ley 14/2013 void. These articles previously regulated the investor visa, proof of investment, effects of the visa, investor residence permit, and its duration. According to the general entry-into-force rule, this change took effect on April 3, 2025.

In practical terms: New Golden Visa applications based on an investment, including the former real estate route, are no longer the normal path to a Spanish residence permit as of April 3, 2025. Anyone purchasing property after this date should not view the purchase as a residence strategy.

What applies to existing cases?

The reform includes transitional rules. Investors and family members who submitted their application before the amendment took effect can obtain the corresponding title under the legal framework in force on the date of application. Already valid investor visas and investor residence permits remain valid for the period for which they were issued.

For real estate investors, it is also regulated that renewal applications will be processed and decided according to the legal framework in force at the time the original approval was granted. This is particularly important for individuals who already held a valid card before the end of the Golden Visa. Nevertheless, this general information does not replace a case-by-case review, especially regarding deadlines, interruptions, family members, or changes to another residence permit.

What does this mean for non-EU buyers?

Non-EU buyers can still acquire property in Spain. However, property ownership remains separate from residence rights in civil, tax, and registry terms. Those who can enter Spain visa-free remain subject to short-stay rules. Those who wish to stay longer, work, relocate their center of life, or bring family members need an appropriate residence permit.

A property can be practically helpful in some procedures, for example as proof of a residential address or economic roots. However, it does not replace the respective legal requirements: income, health insurance, employment or business basis, family relationship, security checks, and timely application remain independent points.

What alternatives exist?

Residencia no lucrativa: The non-lucrative residence permit is aimed at individuals who wish to live in Spain without working or being self-employed there. It requires sufficient funds, health insurance, and other general prerequisites. According to the current Reglamento de Extranjería, the minimum requirement for the main applicant is 400% of IPREM, plus 100% of IPREM per family member. The initial title is usually valid for one year.

International telework / Digital Nomad: This route is intended for third-country nationals who work remotely using digital means for companies outside Spain while residing in Spain. The UGE describes it as residence for persons who work remotely for companies established outside Spain. Requirements include a professional relationship, qualifications or experience, sufficient funds, health insurance or social security proof, and the appropriate application channel.

Employment, self-employment, and qualified activity: Those who wish to work in Spain need a residence permit with work authorization. Depending on the profile, options include work permits, self-employment, highly qualified employment, EU Blue Card, or intra-corporate mobility.

Family status: Family members of persons legally residing in Spain or of EU, EEA, or Swiss citizens have their own legal routes. Requirements, duration, and scope depend on the specific status, family relationship, housing, funds, and documentation.

Purchase decision and residence planning separate

After the end of the Golden Visa, property purchase should no longer be planned as a shortcut to residence. A more sensible approach is the reverse order: first check which residence route fits the actual life situation, and only then clarify what role the property plays.

This overview is not legal advice. Responsibilities, documents, and deadlines may vary depending on the consulate, place of residence, nationality, and family situation. The official Spanish regulations and the competent authority at the time of application are decisive.