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Spain's Golden Visa program for non-EU property buyers was officially discontinued in April 2025, marking the end of a popular residency-through-investment pathway. However, existing Golden Visa holders can still maintain and renew their permits under established conditions, while alternative residency options remain available for non-EU nationals seeking to establish legal residence in Spain.
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As of September 2025, Spain no longer accepts new Golden Visa applications through property investment, though existing holders can renew their permits. Non-EU buyers must now explore alternative residency options like non-lucrative visas or work permits.
Current Golden Visa holders who invested €500,000 or more before April 2025 can maintain their residency status with annual visits to Spain and eventual pathways to permanent residency after five years.
| Residency Option | Investment Required | Key Requirements | Family Inclusion | Current Status |
|---|---|---|---|---|
| Golden Visa | €500,000 in property | Annual visit to Spain | Spouse, children, parents | Discontinued (renewals only) |
| Non-Lucrative Visa | No investment required | Proof of income, 183+ days/year in Spain | Spouse and children | Available |
| Work Visa | No investment required | Spanish employment contract | Spouse and children | Available |
| Business Investor Visa | €500,000+ in Spanish business | Business plan, job creation | Spouse and children | Available |
| Student Visa | No investment required | Enrollment in Spanish institution | Limited family inclusion | Available |
What residency options are currently available for non-EU property buyers in Spain?
As of September 2025, Spain no longer offers the Golden Visa program to new applicants, which was discontinued in April 2025.
Non-EU buyers now have several alternative residency pathways available. The non-lucrative visa allows residence without work rights, requiring proof of sufficient income or savings (typically €28,000-€40,000 annually) and mandates spending over 183 days per year in Spain. Work visas require a Spanish employment contract and sponsorship from a Spanish employer. Student visas are available for those enrolled in Spanish educational institutions, though these typically offer limited family inclusion options.
Business investor visas remain available for those investing €500,000 or more in Spanish companies, requiring a comprehensive business plan and commitment to job creation. This option differs from the former Golden Visa as it focuses on active business investment rather than passive real estate ownership. The entrepreneur visa is designed for innovative business projects with significant economic impact potential.
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Each pathway has distinct requirements, processing times, and family inclusion policies, making careful evaluation essential for prospective residents.
What was the minimum investment amount for the Spanish Golden Visa program?
The Spanish Golden Visa required a minimum real estate investment of €500,000.
This investment threshold had to be met through property purchases that were free of encumbrances or mortgages for the qualifying portion of the investment. Properties could include residential apartments, houses, commercial real estate, or land, provided the total investment reached the €500,000 minimum. The investment amount was calculated based on the purchase price stated in the property deed, not the market valuation.
Additional costs such as taxes, notary fees, and registration expenses (typically adding 10-12% to the purchase price) were not counted toward the €500,000 investment requirement. Applicants needed to demonstrate that the funds used for the investment came from legitimate sources, requiring comprehensive financial documentation including bank statements, income records, and proof of fund transfers.
The investment had to be maintained throughout the residency period, meaning the property could not be sold without losing Golden Visa status until permanent residency or citizenship was obtained.
How long was the Golden Visa valid and what were the renewal requirements?
The Spanish Golden Visa was initially valid for two years from the date of issuance.
After the initial two-year period, holders could renew their Golden Visa for consecutive five-year periods, provided they maintained the qualifying €500,000 property investment and met the annual visit requirement. The renewal process required submitting updated documentation proving continued property ownership, valid health insurance, and a clean criminal record.
Golden Visa holders who obtained their permits before April 2025 can continue to renew under the established conditions. The renewal application must be submitted before the current permit expires, typically requiring 2-4 months processing time. Renewal fees vary by consulate but generally range from €500 to €1,000 plus administrative costs.
Holders must enter Spain at least once per year to maintain their residency status, though no minimum stay duration was required for renewal purposes. However, achieving permanent residency required demonstrating physical presence of at least six months per year over five consecutive years.
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Could multiple properties count toward the investment threshold?
Yes, purchasing multiple properties that together totaled €500,000 or more qualified for the Golden Visa program.
Applicants could combine investments across different property types and locations throughout Spain to reach the minimum threshold. This flexibility allowed investors to diversify their real estate portfolio while meeting residency requirements. Each property had to be individually registered and documented, with clear title deeds proving ownership.
The combined investment calculation was based on the total purchase prices stated in the property deeds, not market valuations or rental potential. All properties included in the investment portfolio had to remain owned by the Golden Visa holder to maintain residency status. Selling any property that reduced the total investment below €500,000 would result in loss of residency rights.
Common investment strategies included purchasing a primary residence in Madrid or Barcelona combined with vacation properties on the coast, or acquiring multiple rental properties in different Spanish cities to maximize rental yields while achieving residency.
What were the differences between the Golden Visa and non-lucrative visa?
The Golden Visa and non-lucrative visa represented fundamentally different approaches to Spanish residency for non-EU nationals.
The Golden Visa required a €500,000 property investment but offered significant flexibility, including work rights, minimal physical presence requirements (only annual visits), and no tax residency obligations unless choosing to spend over 183 days per year in Spain. Family members including spouse, dependent children, and dependent parents could be included under the same application.
The non-lucrative visa requires no property investment but demands proof of substantial passive income or savings (typically €28,000-€40,000 annually, varying by region). Holders cannot work in Spain and must maintain physical presence of over 183 days per year, automatically triggering Spanish tax residency. The visa covers spouse and dependent children but excludes parents.
Processing times differ significantly, with non-lucrative visas typically taking 1-3 months versus 3-6 months for Golden Visas. The non-lucrative visa offers a more affordable path to residency but with greater lifestyle restrictions, while the Golden Visa provided investment-backed flexibility at a higher financial threshold.
Could family members be included in residency applications?
The Golden Visa allowed comprehensive family inclusion under a single application.
Eligible family members included the spouse or legally recognized partner, dependent children under 18 years old, adult children between 18-25 who were financially dependent and enrolled in education, and dependent parents or parents-in-law of either spouse. Each family member received the same residency rights and renewal schedule as the primary applicant.
Family members had to provide similar documentation including clean criminal records, health insurance, and proof of relationship to the main applicant. Adult children needed to demonstrate continued dependency through enrollment certificates and financial records showing lack of independent income.
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The inclusion of elderly parents made the Golden Visa particularly attractive for multi-generational families seeking European residency, as few other programs offered such comprehensive family coverage.
What are the annual tax obligations for non-EU property owners in Spain?
Non-EU property owners in Spain face several mandatory annual tax obligations regardless of residency status.
Non-resident property owners must file annual tax returns on property ownership through the "Impuesto sobre la Renta de No Residentes" (Non-Resident Income Tax). This tax is calculated at 24% of gross rental income for properties that are rented out, or 1.1-2% of the property's cadastral value for properties that remain empty. The cadastral value is typically 50-70% of the market value, making the effective tax rate 0.55-1.4% of market value annually for unused properties.
Additional obligations include the annual "IBI" (Impuesto sobre Bienes Inmuebles), a local property tax ranging from 0.4-1.3% of cadastral value depending on the municipality. Madrid and Barcelona typically charge 0.7-0.8% while coastal tourist areas may charge up to 1.1%. Property owners also pay annual garbage collection fees and community fees for shared building maintenance.
Properties generating rental income above €1,000 annually require quarterly advance tax payments, with final reconciliation in the annual return. Non-EU owners cannot deduct expenses like maintenance, management, or mortgage interest from rental income taxation.
What physical presence was required to maintain Golden Visa status?
Golden Visa holders needed to enter Spain at least once per calendar year to maintain their residency status.
This minimal physical presence requirement distinguished the Golden Visa from other residency programs that demanded significant time commitments. A brief visit of even one day satisfied the annual requirement, making it ideal for investors seeking European residency without relocating permanently. However, these short visits did not contribute toward permanent residency or citizenship eligibility.
Achieving permanent residency required demonstrating physical presence of at least six months per year (183+ days) over five consecutive years. Spanish authorities tracked presence through passport stamps and NIE number usage for activities like property transactions, banking, or healthcare services.
For Spanish citizenship, holders needed ten years of continuous residency with substantial physical presence each year. Extended absences exceeding six months without proper authorization could interrupt the citizenship timeline, requiring the residency period to restart.
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What pathways existed toward permanent residency and Spanish citizenship?
Golden Visa holders could progress toward permanent residency after five years of maintaining their investment and demonstrating sufficient physical presence in Spain.
The pathway to permanent residency required proving physical presence of at least six months per year (183+ days annually) over five consecutive years while maintaining the €500,000 property investment. Applicants needed to demonstrate basic Spanish language proficiency (A2 level) and pass a constitutional and cultural knowledge test. Processing time for permanent residency applications typically ranged from 6-12 months.
Spanish citizenship became available after ten years of continuous legal residency with substantial physical presence requirements. The citizenship process required advanced Spanish proficiency (B2 level), comprehensive knowledge of Spanish history and culture, and proof of integration into Spanish society through community involvement or employment. Dual citizenship was permitted for nationals of Latin American countries, the Philippines, Andorra, Equatorial Guinea, Portugal, and Sephardic Jews, while others typically needed to renounce their original citizenship.
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The entire pathway from Golden Visa to citizenship typically required 10-12 years of commitment, making it a long-term investment in Spanish residency and citizenship.
Were there restrictions on renting out Golden Visa properties?
No restrictions existed on renting out properties purchased under the Golden Visa program.
Golden Visa holders could freely rent their properties on both long-term and short-term basis, including through platforms like Airbnb or Booking.com, provided they complied with local rental regulations and tourist licensing requirements. This rental flexibility made the Golden Visa attractive for investors seeking passive income while maintaining European residency.
Rental income was subject to Spanish taxation at 24% for non-residents, with quarterly advance payments required for properties generating over €1,000 annually. Local municipalities might require tourist rental licenses, particularly for short-term vacation rentals in popular destinations like Barcelona, Madrid, or coastal areas.
The key requirement was maintaining ownership of properties worth €500,000 or more. Holders could sell one property and purchase another, provided the total investment threshold was maintained throughout the residency period. This flexibility allowed portfolio optimization while preserving residency status.
What were the main application steps and costs for residency through property investment?
The Golden Visa application process involved several sequential steps with associated costs and documentation requirements.
Initial steps required securing the qualifying property investment and obtaining an NIE (Número de Identificación de Extranjero), Spain's foreigner identification number. Property purchase costs included the purchase price, transfer taxes (6-10% depending on region), notary fees (0.1-0.5% of purchase price), property registration (0.1-0.3%), and legal fees if using a lawyer (typically 1-2% of purchase price).
1. **Property acquisition and documentation** - Complete property purchase, obtain title deeds, secure property registration2. **NIE application** - Apply for Spanish tax identification number (€15-20 fee)3. **Health insurance** - Obtain private health insurance covering Spanish territory (€500-2,000 annually)4. **Criminal background check** - Apostilled criminal record from home country and any country of residence in past 5 years5. **Financial documentation** - Proof of legitimate funds source, bank statements, investment evidence6. **Visa application submission** - Submit complete application at Spanish consulate with biometric data7. **Interview and processing** - Attend consulate interview if required, await decision (typically 1-3 months)8. **TIE card collection** - Collect Tarjeta de Identidad de Extranjero within 30 days of arriving in SpainTotal application costs typically ranged from €3,000 to €5,000 excluding property purchase expenses, varying by consulate and document requirements.
What happened if the property was sold before obtaining permanent residency?
Selling Golden Visa properties before achieving permanent residency resulted in immediate loss of residency status.
The Golden Visa was directly tied to maintaining the €500,000 minimum property investment throughout the residency period. Reducing the investment below this threshold for any reason, including property sale, divorce-related asset division, or property value depreciation, automatically invalidated the residency permit. Spanish authorities monitored property ownership through regular checks of property registries and tax filings.
Holders could replace sold properties with new purchases, provided the total investment remained above €500,000 and the transaction was completed before selling existing properties. This replacement process required updating residency documentation with new property deeds and ensuring continuous compliance with investment requirements.
Once permanent residency was obtained after five years, property investment requirements no longer applied, allowing holders to freely sell their real estate while maintaining permanent resident status. This transition point marked the separation of residency rights from property investment obligations.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
The Spanish Golden Visa program represented a significant opportunity for non-EU property investors until its discontinuation in April 2025.
Current Golden Visa holders can maintain their residency status through proper renewal procedures, while new applicants must explore alternative residency pathways including non-lucrative visas, work permits, or business investment programs.