Spain Golden Visa & Property:
The Complete 2026 Guide for Investors
The Golden Visa property route closed in April 2025. Here is what changed, what remains open, and how international buyers can still live in Spain after purchasing property in Marbella.
- What happened to the Golden Visa?
- Who still holds a valid Golden Visa?
- Can foreigners still buy property in Spain?
- Residency alternatives in 2026
- Non-Lucrative Visa (NLV)
- Digital Nomad Visa
- Comparison: residency routes 2026
- Buying property in Marbella without a Golden Visa
- Frequently asked questions
The Spain Golden Visa property route was officially closed on 3 April 2025 under Organic Law 1/2025. New applications based on property purchase are no longer accepted. Existing Golden Visa holders can renew their permits. This guide explains what changed, what alternatives exist, and what it means for property buyers in Marbella today. Always consult a qualified Spanish immigration lawyer for advice specific to your situation.
For over a decade, Spain’s Golden Visa was one of Europe’s most popular routes for international investors to combine a luxury property purchase with a right of residence. In April 2025, the property route closed. But buying property in Spain — and living there — remains entirely open.
Spain issued 22,430 Golden Visas between 2013 and 2023, making it one of the most successful residency-by-investment programmes in Europe. The programme attracted buyers from the UK, the Middle East, China, Russia, and the Americas, many of whom purchased properties on the Costa del Sol as the anchor for their application. In April 2025, the Spanish government ended the real estate route, citing housing affordability concerns — particularly in high-demand coastal and urban markets.
The closure does not affect the property market itself. Foreign nationals — including non-EU citizens — retain full rights to purchase property in Spain, with no restrictions on ownership, rental, or resale. What changed is that the property purchase no longer automatically confers a right of residence. Property ownership and residency are now entirely separate processes.
This guide explains the current landscape clearly: what happened to the Golden Visa, who it still affects, and what routes remain available for international buyers who want to live in Spain after purchasing in Marbella.
What happened to the Spain Golden Visa?
The Golden Visa programme was introduced under Law 14/2013 (the Ley de Emprendedores) as a route for non-EU nationals to obtain Spanish residency through significant investment. The most popular route — by far — was the purchase of Spanish real estate with a minimum unencumbered value of €500,000.
In April 2025, Organic Law 1/2025 was published in Spain’s Official State Gazette (BOE), suppressing the articles that formed the legal basis for the investor residence visa. The change took effect on 3 April 2025. From that date, no new applications based on property purchase have been accepted.
The decision was driven primarily by housing affordability concerns. The Spanish government concluded that the programme — by enabling foreign investors to acquire properties worth €500,000 or more across the country — was contributing to price pressure in high-demand markets, particularly Madrid, Barcelona, and the coastal regions. The political will to restrict the programme had been building since 2023, when the European Commission raised concerns about Golden Visa programmes across member states citing security and market distortion risks.
The closure has had no observable impact on transaction volumes or price growth in Marbella. The vast majority of international buyers in Marbella were not purchasing for Golden Visa purposes — they were purchasing for lifestyle, investment, or long-term residency. The fundamental demand drivers remain entirely intact, and the property market continues to outperform most European luxury destinations.
Who still holds a valid Golden Visa in 2026?
The closure applies only to new applications. Existing Golden Visa holders are not affected in their current status and may continue to renew their permits indefinitely, provided the qualifying investment is maintained.
Specifically, in 2026:
Existing holders can: renew their residency card for successive two-year periods; progress toward permanent residency after five years of holding the permit; progress toward Spanish citizenship after ten years of legal residence (with a physical presence requirement of more than six months per year); and continue to travel freely within the Schengen Area.
Existing holders must: maintain the original qualifying investment (the €500,000 property must remain in their name, unencumbered to that value); file the renewal application online through the UGE (Unidad de Grandes Empresas) from 60 days before to 90 days after card expiry; and continue to hold valid Spanish health insurance.
If you currently hold a Golden Visa, the closure of the programme to new applicants does not affect your position. Your path to permanent residency and citizenship proceeds on exactly the same terms as before.
Can foreigners still buy property in Spain in 2026?
Yes, without any restriction. The Spanish property market remains fully open to foreign buyers of any nationality, with no residency requirement, no ownership limits, and no restrictions on rental or resale. The only change is that property ownership no longer grants residency automatically.
To purchase property in Spain as a non-resident, you will need:
A NIE (Número de Identificación de Extranjero) — your Spanish tax identification number. This is issued by the Spanish National Police and is required for all property transactions, tax filings, and banking in Spain. It can be obtained in person at a Spanish consulate in your home country or at a Spanish police station. Many buyers instruct their Spanish lawyer to obtain it on their behalf via power of attorney.
A Spanish bank account — while not legally required, it makes the payment of purchase taxes, ongoing IBI, community fees, and utilities significantly simpler. Most buyers open an account with a Spanish bank before completion.
Beyond these two requirements, the purchase process for a non-resident is identical to that for a resident. Property ownership rights, tax obligations, and rental freedoms are the same.
Residency alternatives for property buyers in 2026
For buyers who want to live in Spain — whether full-time, semi-permanently, or for extended periods — several well-established residency routes remain available in 2026. The right choice depends on your income profile, employment status, and how much time you intend to spend in Spain.
Non-Lucrative Visa (NLV)
The Non-Lucrative Visa is the most commonly used residency route for international buyers in Marbella who do not plan to work in Spain. It grants the right to live in Spain for one year (renewable for two-year periods) but prohibits employment for Spanish employers. It is ideal for retirees, property investors living off rental income, individuals with significant savings or investment portfolios, and second-home buyers who plan to spend six months or more per year in Spain.
The key requirement is demonstrating sufficient passive income: approximately €28,800 per year for the main applicant in 2026 (roughly 400% of the Spanish minimum wage), plus €7,200 for each additional family member. Acceptable income sources include pensions, dividends, rental income from outside Spain, and investment returns. After five years of legal residence, NLV holders can apply for permanent residency.
Digital Nomad Visa (DNV)
Introduced under Spain’s Ley de Startups in 2023, the Digital Nomad Visa is designed for remote workers, freelancers, and entrepreneurs whose income comes primarily from clients or employers based outside Spain. It allows holders to live and work in Spain while maintaining their existing international income structure — a significant advantage over the NLV.
The minimum income requirement for 2026 is approximately €2,849 per month (200% of the Spanish minimum wage). At least 80% of income must come from non-Spanish clients or employers. The DNV is granted initially for one year and is renewable. Crucially, DNV holders can benefit from the Beckham Law (régimen de impatriados) — a favourable tax regime taxing Spanish-source income at a flat 24% rate for the first six years of residence — significantly reducing the tax cost of relocating to Spain.
Entrepreneur & Startup Visa
For buyers who plan to launch a business in Spain, the Entrepreneur Visa (also under the Ley de Startups) provides a route to residency based on a business plan with economic impact, job creation, or innovation credentials. It requires approval from a Spanish government body (ENISA or equivalent) confirming the viability and social/economic value of the project.
This route is more complex than the NLV or DNV and is not appropriate for passive investors. However, for buyers who genuinely intend to build a business in Spain — whether in real estate, technology, hospitality, or another sector — it provides a structured path to residency with significant upside in terms of tax planning and business incentives.
Residency routes for property buyers: 2026 comparison
| Route | Work rights | Min. income | Min. stay req. | Beckham Law | Path to PR |
|---|---|---|---|---|---|
| Golden Visa (legacy) | Yes | €500K property | None | Limited | 5 years |
| Non-Lucrative Visa | No (Spain) | €28,800/yr | 183 days/yr | No | 5 years |
| Digital Nomad Visa | Yes (non-ES) | €34,188/yr | Flexible | Yes | 5 years |
| Entrepreneur Visa | Yes | Business plan | Flexible | Yes | 5 years |
Buying property in Marbella without a Golden Visa
The end of the Golden Visa property route has clarified something that was always true: the investment case for Marbella property does not depend on residency benefits. The buyers who have driven Marbella’s market to record prices in 2024 and 2025 were overwhelmingly motivated by lifestyle, capital preservation, and rental yield — not by the administrative convenience of a residency permit attached to the purchase.
For buyers who want both a premium Marbella property and the right to live in Spain, the path in 2026 is straightforward: purchase the property (unrestricted, as before), then apply separately for the appropriate residency visa based on your income profile and lifestyle plans. The two processes are independent and can run in parallel.
Dreamgate Properties works with a network of trusted Spanish immigration lawyers and tax advisors who can guide buyers through the residency application process alongside the property purchase. The NIE, the bank account, the property transaction, and the visa application can all be coordinated as a single, managed process — just as they were under the Golden Visa, simply via a different legal pathway.
For most of our buyers — families relocating from Northern Europe, investors seeking yield alongside lifestyle, and buyers purchasing a second home for extended stays — the end of the property Golden Visa changes very little in practice. The Non-Lucrative Visa or Digital Nomad Visa provides an equivalent or superior outcome, often with better tax planning options. We connect every buyer with the right specialist advisors from day one.
The buying process for non-residents in 2026: step by step
Appoint an independent Spanish lawyer
Your lawyer will conduct full due diligence on the property, review the purchase contract, check for encumbrances and planning compliance, and represent your interests throughout the transaction. Choose a lawyer independent of the developer or seller. Your lawyer can also obtain your NIE on your behalf via power of attorney if you are unable to travel to Spain.
Obtain your NIE number
Your NIE is required for all property transactions and ongoing tax obligations in Spain. It can be obtained at a Spanish consulate in your home country, at a Spanish National Police station in person, or via your lawyer with a power of attorney. The process typically takes two to four weeks. Without a NIE, you cannot complete a property purchase in Spain.
Open a Spanish bank account
A Spanish bank account is required to pay purchase taxes, community fees, IBI, and utilities. Most major Spanish banks (Santander, BBVA, CaixaBank) offer accounts for non-residents. The process requires your NIE, passport, and proof of address. Some banks allow non-resident account opening remotely; others require an in-person visit.
Sign the private purchase contract and complete
The purchase follows a standard Spanish process: reservation deposit (€6,000–12,000), private purchase contract with 10% deposit, and notarial completion with the balance. Total purchase costs add 10–12% on top of the property price (ITP at 7%, notary, registry, and legal fees). Your lawyer manages the full process and ensures all documentation is in order before completion.
Apply for the appropriate residency visa
Once your property purchase is complete, work with a Spanish immigration lawyer to identify and apply for the residency route that best matches your profile: Non-Lucrative Visa for passive income buyers, Digital Nomad Visa for remote workers, or Entrepreneur Visa for business founders. The property itself will support your application by demonstrating ties to Spain and providing a registered address.
Frequently asked questions about Spain residency and property 2026
Buy in Marbella with the right team behind you
Dreamgate Properties connects every buyer with trusted Spanish lawyers, tax advisors, and immigration specialists — so your property purchase and residency plans are coordinated from the very first step.
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