Golden Visa in 2026: What has changed and what alternatives exist?

For more than a decade, the so-called Golden Visa has allowed non-EU citizens to obtain residency in Spain in exchange for making certain investments, especially in housing. This visa, also known as the “visado de oro”, was mainly linked to the purchase of real estate for a specific minimum amount.

In 2025, the Government announced its abolition, and in 2026 it is no longer available for new applications linked to real estate investment. From Fotocasa, we analyze exactly what the Golden Visa was, why it has been eliminated, and what alternatives exist now if you are thinking about buying a home in Spain as a non-EU foreigner.

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What was the Golden Visa in Spain?

The Golden Visa was a residency permit for foreign investors from outside the European Union.

It was established in 2013 under the government of Mariano Rajoy and was regulated under Law 14/2013 (Law 14/2013), for the support of entrepreneurs and their internationalization, with the aim of attracting foreign investment.

What did this visa consist of?

It allowed individuals to obtain residency in Spain if they made a significant investment in the country.

In the case of real estate, the main requirement was:

• Investing at least €500,000 in real estate in Spain, free of liens or encumbrances.

In addition to investment in housing, it also included other forms of economic investment set out in the regulations (such as financial or business investment).

What rights did it grant?

Holders of a Golden Visa could:

• Reside in Spain.

• Travel through the Schengen Area.

• Apply for residency for certain family members.

• Access the healthcare system (through mandatory private insurance).

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Why has the Golden Visa been eliminated in 2026?

On April 3, 2025, the Government officially announced the end of granting new Golden Visas linked to the purchase of housing.

According to information published by La Moncloa, the measure seeks to prioritize access to housing as a right and not as an investment asset linked to obtaining residency.

The decision is part of a context of public policies aimed at facilitating access to housing and reducing pressure in certain areas.

How many Golden Visas were granted?

According to official data released following the announcement of its abolition, since its creation in 2013, more than 14,000 authorizations linked to real estate investment have been granted.

The evolution was not linear. In the early years, the number of grants was more moderate, but from 2016 it began to increase progressively, with especially significant growth until 2023, when more than 3,000 visas were issued.

Furthermore, 94% of Golden Visas were linked to real estate investment, that is, the purchase of homes for an amount equal to or greater than €500,000.

A large part of these investments were concentrated in cities with stressed housing markets (mercados tensionados), which helps to understand the context in which the decision to abolish this figure was made.

These figures allow us to measure the real scope of the program during its more than ten years in force.

What alternatives exist after the suppression of the Golden Visa?

Although new applications for the Golden Visa can no longer be submitted in 2026, this does not mean that there are no other ways to reside in Spain if you are a non-EU citizen. The key is to distinguish what we want to do here (work, telework, or live without working) and choose the permit that fits that situation.

If we want to live in Spain and continue working, what options are there?

These are some common alternatives when the goal is to reside and work in Spain:

• Digital Nomad Visa or authorization: designed for those who want to reside in Spain while working remotely for a foreign company or for a business outside of Spain.

  • It can be applied for from Spain if you are legally in the country, or from the consulate in your country of residence.

  • Depending on where it is processed, the initial duration may vary.

• Visa or authorization for Highly Qualified Professionals: aimed at individuals with a job offer in Spain for a qualified technical or management position.

  • It includes minimum salary thresholds and requirements for qualifications or experience.

• Residency authorization for entrepreneurs: intended for those who want to start, develop, or manage a business project in Spain.

• Work permit under the general regime: an alternative when the requirements for the previous permits are not met, with its own conditions and limitations.

If we want to live in Spain without working, what alternative exists?

• Non-Lucrative Residency Visa: designed for residing in Spain without engaging in remunerated activity.

  • It requires proving sufficient economic resources to support oneself during the stay.

  • It must be processed through the consulate in the country of residence.

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Who is affected by the end of the Golden Visa?

The measure mainly affects:

• Citizens from outside the European Union.

• Foreign investors interested in acquiring property in Spain as a way to obtain residency.

If you are thinking about buying a house in Spain as a non-EU foreigner, you must take into account that the purchase, by itself, no longer allows access to a residency permit through real estate investment.

This does not prevent you from buying a property, but it does change the legal framework regarding residency.

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What if you already had a Golden Visa?

The elimination of the Golden Visa affects new applications, but it does not imply the automatic cancellation of permits that have already been granted.

If you were already a Golden Visa holder before its suppression, the authorization:

• Remains valid until its expiration date.

• Is not annulled by the regulatory change.

• Continues to recognize the associated rights during its period of validity.

Can existing Golden Visas be renewed?

According to official information from the Large Business and Strategic Groups Unit (PRIE), renewals are governed by the applicable transitional regime.

This means that:

• The renewal is processed according to the regulations in force at the time the initial authorization was granted.

• The elimination of the program is not applied retroactively to those who were already holders.

In practice, the determining factor is the initial granting date.

If the authorization was granted before the abolition, the renewal is analyzed under that previous legal framework.

For years, the Golden Visa has been a gateway to residency in Spain linked to real estate investment of €500,000 or more. With its abolition in 2026, this mechanism is no longer available for new applications.

From Fotocasa, we remind you that purchasing a home and the right to residency are distinct matters, and that before starting any transaction, it is important to know which legal requirements apply in each case.

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