Author Irina Firsova Immigration lawyer in Spain, member of the Barcelona Bar Association no. 46.385 Updated 14 September 2026 14 min read Message the author

How to get a Spanish golden visa: conditions, requirements and cost

The Spanish golden visa was a programme under which, from 2013, a foreign investor received a residence permit in exchange for investing in the Spanish economy. The best-known route was through property: the threshold was €500,000. Over twelve years tens of thousands of families went through the programme, and for many it was the only clear way to gain a foothold in Europe without changing where they lived.

Below is how the programme worked: what exactly it gave, how much you had to invest, how the procedure went and what happened to those who obtained the status in time. And at the end — what works in its place now.

What the golden visa gave

The value of the programme lay not in the residence card itself but in the set of rights, which for an investor came together better than under any other route.

A residence permit straight away and for a long term. The status was granted quickly and then renewed as long as the investment was maintained. The specific terms of the first permit and renewals changed with reforms of the law, so for an existing status they are checked against your own card, not against articles.
No requirement to live in Spain. This was the main thing. All other routes require actual residence, whereas here the status was kept with minimal presence in the country — it was enough to visit.
The right to work. The investor and their spouse could be employed and run their own business, not just live on the invested money.
The family in the same application. Spouse, minor children and, under certain conditions, parents — without a separate investment threshold for each.
Freedom of movement around Schengen and the usual path onwards: five years to permanent residence, ten years to apply for citizenship — on general terms, with no shortcuts for investors.

Tax status first, then the deal

A property you buy is not a neutral asset. When two countries disagree over which of them you are tax resident in, the double taxation treaty settles the dispute through a chain of tests, and the first in it are a permanent home and the centre of vital interests. Property in Spain tips both scales towards Spain and ends up on the list of evidence in disputes with the tax authority. So it is wiser to settle the question “where am I tax resident” before buying rather than after: how the 183 days are counted and what else decides it.

Five investment routes and amounts

The programme appeared in 2013 as part of the law on support for entrepreneurs and their internationalisation — Ley 14/2013. There was more than one route: property is remembered best, but five types of investment were allowed.

Type of investment	Minimum threshold
Property	500,000 €
Shares in Spanish companies	1,000,000 €
Government bonds	2,000,000 €
Bank deposit	1,000,000 €
A business project recognised as being of general interest	no fixed amount

Property worth €500,000 was the most popular route. The threshold applied per applicant, there could be several properties, and any amount above the threshold could be mortgaged — only the first half-million had to be free of borrowing.

Shares, deposits and bonds were chosen less often: the thresholds were higher and the money was tied up. On the other hand, there were no property upkeep costs and no property tax.

A business project of general interest was the only route without a fixed amount: what counted was job creation, contribution to science and impact on the regional economy. This option is the closest to what works today.

Why investors in particular chose it

The golden visa solved a problem that other routes still do not solve: getting status in the EU without moving. A person kept living and working in their own country and paying taxes there, while having residence in Spain that could be used if circumstances changed.

Hence the second reason — speed and predictability. The requirements were about assets, not about your background: you did not have to prove a source of regular income, qualifications, the innovativeness of a project or knowledge of the language. A proven transaction and a clean criminal record certificate were enough.

The third — tax neutrality. As long as the investor did not spend more than 183 days a year in Spain, they did not become a Spanish tax resident and did not declare their worldwide income here. For owners of assets in other countries this was often decisive.

How the procedure worked

The transaction. Obtaining an NIE, opening an account with a Spanish bank, buying the property before a notary and registering it with the Land Registry.
Proof of investment. A Land Registry extract no older than 90 days, or bank and brokerage documents for other types of investment.
The application. The investor visa was issued by the consulate for the place of residence, and the residence permit by the specialised unit for large investors, electronically.
The decision. Processing times for investor applications were noticeably shorter than usual — weeks rather than months. This was also part of the programme’s appeal.
Card and renewals. After approval — fingerprints and the residence card; then renewal as long as the investment was maintained.

What happened to existing statuses

The abolition is not retroactive, and this matters most for those who got in on time.

Applications filed before 3 April 2025 were processed under the old rules.
Permits already issued remain valid until they expire and are renewed under the previous wording of Ley 14/2013 — provided the requirements are still met, i.e. the investment is maintained. This was confirmed by the specialised unit for large investors (UGE-CE) on 10 June 2025.
For investments in shares and bonds the renewal procedure differs from property and needs to be checked case by case.

After that, things are the same for a holder as for everyone else: five years to permanent residence, but with a caveat — permanent residence requires actual residence, which the golden visa did not. That is why many investors renewed their status for years and never got any closer to permanent residence.

If you or your relatives hold an existing golden visa, the renewal plan should be checked individually: practice in applying the transitional provisions is still taking shape.

Why it was abolished

The official reason is the housing crisis. The government linked rising property prices in large cities and on the coast to speculative demand from buyers who were acquiring homes not to live in but for the sake of status.

The debate began in April 2024; the law was passed and came into force on 3 April 2025.

A caveat is needed here, because articles are still circulating online with wording such as “final abolition is planned for 2026” and “the real application deadline is mid-2025”. These are outdated texts written while the bill was being debated and not updated after it was passed. The programme has been gone for more than a year.

Downsides that were talked about less

The programme is usually remembered as convenient, and in its own way it was. But it had a price, and that usually went unmentioned.

The money stopped working. Half a million in a flat or a million on deposit is capital taken out of circulation for the whole term of the status. Selling the property meant losing the grounds for renewal.
The first €500,000 had to be free of any mortgage. A mortgage was only allowed on the amount above the threshold, so it was impossible to “get in” with a small down payment.
Upkeep of the property cost money every year. Property tax, utilities, owners’ community fees and, if the home stood empty, the risk of squatters. These costs did not go away just because the owner visited once a year.
The status hardly led to citizenship. There were no presence requirements — and precisely for that reason most investors did not accumulate the years of actual residence needed for naturalisation. The programme gave residence, but not a path.
The investment had to be made after the law came into force — from the end of September 2013. Property bought earlier did not qualify for the programme, however much it was worth.
And the main downside, which showed itself at the end: the programme depended on a political decision and was abolished without a replacement. Those who planned to apply in 2025 were left without the option they had counted on.

This is not an argument against investing in Spanish property — it is an argument for treating it as an investment rather than an entry ticket. When buying makes sense and when it does not is discussed below.

Timeline: how the programme was wound down

Date	What happened
27 September 2013	Law 14/2013 on support for entrepreneurs is passed. Articles 63–67 introduce a residence permit for investors — the golden visa
April 2024	The government announces its intention to abolish the programme, citing the housing crisis as the reason
2 January 2025	Organic Law 1/2025 is passed. It repeals articles 63–67 and sets a three-month transitional period
3 April 2025	Applications are no longer accepted. Applications filed before this date are processed under the old rules
10 June 2025	The unit for large investors (UGE-CE) confirms that permits already issued remain valid and are renewed under the previous wording of Law 14/2013

The golden visa is no longer issued

Since 3 April 2025 the programme has not existed. Organic Law 1/2025 of 2 January 2025 repealed articles 63–67 of Law 14/2013 — the very ones that governed the residence permit for investors. New applications are not accepted either for property or for any of the other four routes.

What this means in practice: a foreigner can still buy a home in Spain without restrictions — all you need is an NIE and an account with a Spanish bank — but the purchase does not give a right to residence. Half a million euros invested in a flat will not bring you a single day closer to a residence card.

And a separate caveat, because search results still turn up articles with wording such as “final abolition is planned for 2026” or “the real application deadline is mid-2025”. These are texts written while the bill was being debated and not updated after it was passed. The programme has been gone for more than a year.

What works in its place

The logic has changed completely: people used to buy a status; now they get residence that fits their way of life.

Digital nomad residence permit

For those who work remotely for a company or clients outside Spain. The main requirement is proven income: the threshold is tied to the minimum wage, reviewed every year, and stands at €2,849 a month for the main applicant, with supplements for family members.

It is issued straight away for three years with the option to renew, allows you to include your family and gives access to a special tax regime at a rate of 24% instead of the progressive scale. It is the most sought-after route among those who used to look at the golden visa: the procedure is covered in the article on the digital nomad residence permit.

Non-working residence permit (no lucrativa)

For those who live on passive income: rent, dividends, interest, a pension. You may not work in Spain, but you may receive income from abroad. The threshold is 400% of IPREM for the main applicant plus supplements for each family member.

This is the closest equivalent in spirit to the golden visa for those who do not work — with one fundamental difference: you will have to live in the country for real, and since the 2025 regulation, renewal requires proof of residence for more than 183 days a year. Amounts, consular requirements and support all the way to the card are on the page Spanish non-working residence permit.

Startup visa

For projects recognised as innovative: you need a business plan and a favourable report from the authorised body. It is the direct successor to that fifth golden visa route — a business project of general interest — except that now the substance counts, not the amount. Conditions and procedure are on the page startup visa for Spain.

There is also a fourth option — the student visa: the easiest entry in terms of requirements, but time on it does not count towards the period for citizenship, and only half of it counts towards permanent residence. It works as a temporary solution, but not as a relocation strategy.

So why buy property at all

This is the main question left after the programme was abolished. The answer depends on why you want the home.

For a residence permit — don’t buy. There is no direct link any more. Half a million euros invested in a flat will not bring you a single day closer to a residence card.

For living in — buying makes sense, but usually not straight away. Every residence permit route requires proof of accommodation, and a tenancy agreement serves just as well as a deed of sale. The sensible order is to get your status first, live for a year in the chosen city, and then buy.

The reason is simple: people who bought a home before moving regularly discover they chose the wrong district, the wrong city or the wrong type of property. Renting for the first year costs incomparably less than a mistake in buying.

As an investment it is a separate calculation that has to take into account annual upkeep costs, the cadastral value and tax on a later sale. The same calculation includes the risk of squatters in an empty home if the property stands unattended most of the year. It has nothing to do with the question of residence.

Where else you can get residence or citizenship through property

The query “which country gives citizenship when you buy property” comes up more often than Spanish-specific ones, so let us break that down too.

It is important to understand the difference. Almost all programmes in Europe gave and still give a residence permit, not citizenship. A passport is obtained through naturalisation — that is, through years of residence, as usual. Direct “citizenship for property” has practically disappeared from the EU today.

Country	Status in 2026
Spain	programme abolished in April 2025
Portugal	the golden visa survives, but property has been excluded from the list of eligible investments since 2023
Greece	programme in operation; thresholds have been raised and vary by region
Cyprus	citizenship-by-investment programme closed in 2020; a residence permit is available
Malta	citizenship is granted exceptionally for merit; property is only one of the conditions
Turkey	citizenship for investment in property is available; the threshold is reviewed periodically
UAE	long-term residence visa for property; citizenship is not granted

Thresholds and conditions change often, so specific amounts are deliberately not given here: any programme needs to be checked as of the date you make your decision.

Spanish citizenship by investment: why it never existed

The phrase “Spanish citizenship by investment” is incorrect in substance, not just now.

Even in its best years the golden visa gave a residence permit. After that the investor followed the general path: five years to permanent residence, ten years to apply for citizenship, the CCSE and DELE A2 exams, and a declaration renouncing previous citizenship. No shortcuts for investors were provided.

At the same time, the golden visa’s presence requirements were minimal, while naturalisation requires real continuous residence — which is why most investors never got as far as citizenship. The path is described in detail in the article on Spanish citizenship.

What to do if you were planning a golden visa

Define your goal. A backup status in the EU without moving is one task; actually living in Spain is quite another. Since the programme was abolished, Spain covers the second and hardly covers the first.
Look at income, not capital. All current routes look at regular income and its source, not the size of your assets. Sometimes it is enough to restructure how you are paid.
Do not buy property “for a residence permit”. There is no link. Buy once you have decided where you want to live.
Check your family. All routes allow you to include your spouse and children, but the income thresholds rise accordingly.
Factor in taxes in advance. Moving means tax residence, and that means worldwide income and reporting on foreign assets. It is better to plan for this before moving, not after your first tax return.

How we can help

The task has shifted: instead of choosing an investment amount, you now choose a route that fits your source of income. That is exactly what we do.

We analyse your situation and work out what fits. We look at your income structure, family composition and plans for time in Spain — and tell you which route will work and which will not. If none will, we will tell you that too.
We see you through to the residence card. Documents, apostilles and sworn translations, filing, fingerprint appointments, collecting the card.
We work out taxes before the move, not after. Tax residence arises automatically after 183 days, and decisions on large transactions are better made in advance.
We help holders of an existing golden visa deal with renewal under the transitional rules.

We do not guarantee approval — the decision is made by the immigration service. What we can do: honestly assess your chances before starting work and prepare the documents so that there is no refusal for avoidable reasons. Write to us and we will look at your situation.

Frequently asked questions

Is the Spanish golden visa still available in 2026?

No. The programme was abolished on 3 April 2025 by Organic Law 1/2025, and articles 63–67 of Law 14/2013 were repealed. New applications are not accepted.

Can an existing golden visa be renewed?

Yes. Permits issued before 3 April 2025 remain valid and are renewed under the previous wording of Law 14/2013 if the requirements are still met, i.e. the investment is maintained. This was confirmed by the unit for large investors UGE-CE on 10 June 2025. For investments in shares and bonds the procedure differs from property.

Can you get a Spanish residence permit by buying property in 2026?

No. Buying a home of any value does not give a right to residence. A foreigner can buy property without restrictions, but that is a separate matter from immigration.

How do you get Spanish citizenship by buying property?

You can’t. Spain has never granted citizenship by investment: the golden visa only gave a residence permit, and a passport is obtained after 10 years through naturalisation.

How much did you have to invest in property for the golden visa?

€500,000 per applicant. There could be several properties, and the amount above the threshold could be mortgaged — only the first half-million had to be free of borrowing.

What is the most accessible alternative to the golden visa?

For those who work remotely — the digital nomad residence permit. For those living on passive income — the non-working residence permit. Both require actual residence in the country, and that is the main difference from the old programme.

Does a purchased flat help when applying for a residence permit?

Indirectly: it proves you have accommodation, but a tenancy agreement does the same. A purchase is not a route in its own right.

Is it true that you could apply for a golden visa until mid-2025?

No, that is outdated information from when the bill was being debated. Applications stopped being accepted on 3 April 2025.

Key takeaways

The golden visa operated from 2013 and gave a residence permit in exchange for investment: property from €500,000, shares or a deposit from €1,000,000, government bonds from €2,000,000, or a business project of general interest.
Its main advantage was that you did not have to live in Spain.
The programme was abolished on 3 April 2025 by Organic Law 1/2025. There are no new applications.
Statuses already granted remain and are renewed under the old rules.
Citizenship by investment did not exist before either — the programme only gave a residence permit.
In its place, the digital nomad residence permit, the non-working residence permit and the startup visa are available. All three require real residence.
It makes sense to buy a home after moving, not in order to move.