Golden Visa gone: the residency routes that actually work in Spain in 2026

If you were planning to relocate to Spain through the Golden Visa programme, you have likely discovered that it no longer exists. The Spanish government abolished the Investor Visa (Visa de Inversor) in April 2025 through Ley Organica 1/2025, citing housing affordability concerns in major cities and coastal areas. The programme had allowed non-EU nationals to obtain residency in exchange for a minimum real estate investment of 500,000 euros. With it gone, thousands of investors, retirees, and families who had been planning their move to Spain were left without a clear legal pathway. Pending applications were handled under transitional provisions, but no new applications are accepted. If you are now wondering what your options are — and whether Spain is still worth considering — the answer is yes, but the routes are different and professional guidance matters more than ever.

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Why BM Consulting

Specialised advice and personal service

At BMC we advised clients on the Golden Visa from its inception and we have spent the years since building deep expertise in every replacement route available. We assess your complete profile — income sources, employment or business situation, investment capacity, nationality, family composition, and long-term objectives — and recommend the two or three pathways that best fit your situation. We handle all document preparation, liaise with the relevant Spanish authority (Consulate or the Large Business and Strategic Sectors Unit, UGE-CE), and guide you from your first permit through to permanent EU residency and potential Spanish citizenship.

  • Spain's Golden Visa (Visa de Inversor) was permanently abolished by Ley Orgánica 1/2025 in April 2025 — no new applications are accepted; real estate investment no longer provides a path to Spanish residency.

  • The Digital Nomad Visa (Ley 28/2022, Art. 67-73) requires ~€3,000/month income (200% SMI) from at least 80% non-Spanish sources and provides access to the Beckham Law 15% flat tax rate — the most tax-efficient residency route for active income earners.

  • The Non-Lucrative Visa requires ~€2,400/month in passive income (dividends, pensions, investments) and does not allow working for Spanish employers or access to the Beckham Law — the right route for retirees and passive-income investors.

  • EU long-term resident status requires 5 years of continuous legal residence; Spanish citizenship by naturalisation requires 10 years (reduced to 2 years for Ibero-American nationals and certain other categories).

How we work

From first contact to case completion

  1. Profile assessment and route selection

    We review your financial situation, employment or business status, nationality, family composition, and goals. Based on this analysis, we identify the most suitable residency routes and explain the trade-offs between them in plain terms before you commit to any course of action.

  2. Tax planning before the move

    Each residency route has different tax consequences. Some trigger full Spanish tax residency (and with it worldwide income reporting); others allow greater flexibility. We model the tax impact of each option and advise on whether the Beckham Law special regime — a flat 24% income tax rate for six years — applies to your situation.

  3. Document preparation and application filing

    We compile and certify all required documents: apostilles, income or asset certificates, criminal record checks, private health insurance, and any business plan or employment contracts specific to your chosen route. We submit the application to the correct authority and manage all communications.

  4. Ongoing management to permanent residency

    We track renewal deadlines, advise on physical presence requirements to maintain your permit status, and plan your pathway to EU long-term residency at five years and Spanish citizenship eligibility at ten years.

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The problem

If you were planning to relocate to Spain through the Golden Visa programme, you have likely discovered that it no longer exists. The Spanish government abolished the Investor Visa (Visa de Inversor) in April 2025 through Ley Organica 1/2025, citing housing affordability concerns in major cities and coastal areas. The programme had allowed non-EU nationals to obtain residency in exchange for a minimum real estate investment of 500,000 euros. With it gone, thousands of investors, retirees, and families who had been planning their move to Spain were left without a clear legal pathway. Pending applications were handled under transitional provisions, but no new applications are accepted. If you are now wondering what your options are — and whether Spain is still worth considering — the answer is yes, but the routes are different and professional guidance matters more than ever.

Our solution

At BMC we advised clients on the Golden Visa from its inception and we have spent the years since building deep expertise in every replacement route available. We assess your complete profile — income sources, employment or business situation, investment capacity, nationality, family composition, and long-term objectives — and recommend the two or three pathways that best fit your situation. We handle all document preparation, liaise with the relevant Spanish authority (Consulate or the Large Business and Strategic Sectors Unit, UGE-CE), and guide you from your first permit through to permanent EU residency and potential Spanish citizenship.

Process

How we do it

1

Profile assessment and route selection

We review your financial situation, employment or business status, nationality, family composition, and goals. Based on this analysis, we identify the most suitable residency routes and explain the trade-offs between them in plain terms before you commit to any course of action.

2

Tax planning before the move

Each residency route has different tax consequences. Some trigger full Spanish tax residency (and with it worldwide income reporting); others allow greater flexibility. We model the tax impact of each option and advise on whether the Beckham Law special regime — a flat 24% income tax rate for six years — applies to your situation.

3

Document preparation and application filing

We compile and certify all required documents: apostilles, income or asset certificates, criminal record checks, private health insurance, and any business plan or employment contracts specific to your chosen route. We submit the application to the correct authority and manage all communications.

4

Ongoing management to permanent residency

We track renewal deadlines, advise on physical presence requirements to maintain your permit status, and plan your pathway to EU long-term residency at five years and Spanish citizenship eligibility at ten years.

6
Active residency routes available in 2026
3-6
Months typical processing time
10
Years to Spanish citizenship eligibility

I had everything lined up for the Golden Visa when the abolition was announced. BMC assessed my situation within a week, recommended the non-lucrative visa as the best fit, and had my family's applications in order within three months. We were settled in Marbella by the following summer.

Robert Hartley Private investor, Private client, United Kingdom

Why the Golden Visa was abolished and what comes next

Spain’s Golden Visa programme ran from 2013 to 2025 and attracted tens of thousands of non-EU nationals, primarily from China, Russia, the Middle East, and the United Kingdom. The appeal was straightforward: invest 500,000 euros in Spanish real estate and receive a two-year renewable residence permit for yourself and your immediate family.

The programme’s abolition in April 2025 was driven by political pressure to address housing affordability, particularly in Madrid, Barcelona, the Balearic Islands, and the Mediterranean coast. The debate over whether Golden Visa investors actually drove up housing prices is ongoing, but the political decision was made and it is final.

The good news is that Spain remains one of the most attractive destinations in Europe for international residents, investors, entrepreneurs, and remote workers. The routes available in 2026 are more varied than many people realise, and in some cases they offer better long-term terms than the Golden Visa ever did.

The six main residency routes in 2026

Non-Lucrative Residency Visa: The most accessible route for retirees, investors, and those with passive income. Processed through the Spanish Consulate in your home country and typically granted in six to twelve weeks when the documentation is complete. Does not permit working in Spain for Spanish employers.

Digital Nomad Visa: Created by the 2022 Startups Law for remote workers and freelancers who work for clients or employers outside Spain. Compatible with the Beckham Law regime (15% income tax for the first four years on qualifying income). Income requirement: approximately 3,000 euros per month. Details at /legal/immigration.

Beckham Law Special Regime: Not a visa in itself, but a tax regime that works alongside other permits. Allows qualifying individuals to pay a flat 24% tax rate on Spanish-source income for up to six years instead of the progressive resident scale (top rate 47%). Explore it at /tax/beckham-law.

Entrepreneur Visa: For founders and business owners who plan to set up or operate a company in Spain with demonstrable economic, innovative, or employment value. Requires a business plan assessed by a competent authority.

Self-Employment Permit (Cuenta Propia): For independent professionals who will provide services primarily in Spain. Requires demonstrating the economic viability of the business and registering with the Spanish Social Security system.

EU Blue Card: For highly qualified non-EU nationals with a job offer from a Spanish employer. Requires a university degree or equivalent experience and a salary of at least 1.5 times the average Spanish gross wage.

Tax planning is as important as visa planning

The choice of residency route has significant tax consequences that many people underestimate. Once you become a Spanish tax resident (as a rule, spending more than 183 days per year in Spain), you are obliged to declare your worldwide income and assets, including overseas bank accounts above 50,000 euros (via the Modelo 720 declaration and the /tax/international-tax obligations). This is not a reason to avoid Spain, but it is an excellent reason to plan carefully before your arrival.

At BMC we integrate immigration advice with non-resident and new resident tax planning to ensure your move to Spain is structured as efficiently as possible from day one.

FAQ

Frequently asked questions

Permanently abolished. Ley Organica 1/2025, published in the Spanish Official State Gazette in April 2025, terminated the Investor Visa programme entirely. No new applications are accepted under this programme. Applications submitted before the cut-off date were processed under transitional arrangements, but the programme as a legal instrument has ceased to exist.
For individuals living on investment income, dividends, foreign pensions, or rental income from outside Spain, the Non-Lucrative Residency Visa is usually the most accessible route. It requires demonstrating stable passive income of approximately 2,400 euros per month for the primary applicant (plus 25% more for each dependent family member) and purchasing comprehensive private health insurance in Spain. It does not allow you to work for Spanish employers, but you can manage your own investments.
The Beckham Law special tax regime (a flat 24% income tax rate on Spanish-source income for up to six years) is designed for individuals who relocate to Spain for work or entrepreneurial reasons. Holders of the non-lucrative visa, who by definition do not work in Spain, generally cannot access it. However, if your circumstances change after arrival — for example, you establish a company or begin working — it may become available. We advise on this during the initial planning stage.
The Digital Nomad Visa (officially Visa para Teletrabajadores de Caracter Internacional), introduced by the 2022 Startups Law, requires demonstrating income of at least 200% of the Spanish minimum wage. In 2026 this equates to approximately 2,800-3,000 euros per month. Income from multiple clients or employers can be combined, provided at least 80% comes from sources outside Spain.
Real estate investment no longer leads to residency in Spain. However, rental income from a Spanish property can count towards the income threshold for a non-lucrative visa. If you establish a property management company with genuine economic activity, you might qualify for the entrepreneur visa. Each situation requires individual analysis — there is no one-size-fits-all answer.
Most initial residence permits are valid for one to three years and are renewable. After five continuous years of legal residence in Spain, you can apply for EU long-term resident status. Spanish citizenship by naturalisation requires ten years of legal residence (reduced to two years for nationals of Ibero-American countries, the Philippines, Equatorial Guinea, Andorra, Portugal, and Sephardic Jews). The clock begins from your first legal entry into Spain.

Related services

Non Lucrative Visa Spain Digital Nomad Visa Spain Retire Spain
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Frequently asked questions

Questions about Golden Visa Alternatives Spain 2026: 5 Best Options

Permanently abolished. Ley Organica 1/2025, published in the Spanish Official State Gazette in April 2025, terminated the Investor Visa programme entirely. No new applications are accepted under this programme. Applications submitted before the cut-off date were processed under transitional arrangements, but the programme as a legal instrument has ceased to exist.
For individuals living on investment income, dividends, foreign pensions, or rental income from outside Spain, the Non-Lucrative Residency Visa is usually the most accessible route. It requires demonstrating stable passive income of approximately 2,400 euros per month for the primary applicant (plus 25% more for each dependent family member) and purchasing comprehensive private health insurance in Spain. It does not allow you to work for Spanish employers, but you can manage your own investments.
The Beckham Law special tax regime (a flat 24% income tax rate on Spanish-source income for up to six years) is designed for individuals who relocate to Spain for work or entrepreneurial reasons. Holders of the non-lucrative visa, who by definition do not work in Spain, generally cannot access it. However, if your circumstances change after arrival — for example, you establish a company or begin working — it may become available. We advise on this during the initial planning stage.
The Digital Nomad Visa (officially Visa para Teletrabajadores de Caracter Internacional), introduced by the 2022 Startups Law, requires demonstrating income of at least 200% of the Spanish minimum wage. In 2026 this equates to approximately 2,800-3,000 euros per month. Income from multiple clients or employers can be combined, provided at least 80% comes from sources outside Spain.
Real estate investment no longer leads to residency in Spain. However, rental income from a Spanish property can count towards the income threshold for a non-lucrative visa. If you establish a property management company with genuine economic activity, you might qualify for the entrepreneur visa. Each situation requires individual analysis — there is no one-size-fits-all answer.
Most initial residence permits are valid for one to three years and are renewable. After five continuous years of legal residence in Spain, you can apply for EU long-term resident status. Spanish citizenship by naturalisation requires ten years of legal residence (reduced to two years for nationals of Ibero-American countries, the Philippines, Equatorial Guinea, Andorra, Portugal, and Sephardic Jews). The clock begins from your first legal entry into Spain.
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