The Golden Visa Is Gone. These Routes Remain.
Spain abolished the property Golden Visa on 3 April 2025. If you want both Spanish property and Spanish residency, you need a different pathway. Three main alternatives exist, none of which require property ownership but all of which can complement a property investment.
The Three Alternatives
1. Non-Lucrative Visa
| Requirement |
Detail |
| Income proof |
~€28,800/year (IPREM × 4) for main applicant |
| Per dependent |
+100% of IPREM per additional family member |
| Work in Spain |
Not permitted |
| Property requirement |
None, but having a home strengthens the application |
| Health insurance |
Private, full coverage in Spain |
| Duration |
1 year, renewable for 2 + 2 + 5 |
| Path to citizenship |
After 10 years of legal residency |
Best for: Retirees, financially independent individuals, and passive income earners who want to live in Spain without working locally.
2. Digital Nomad Visa (Law 28/2022)
| Requirement |
Detail |
| Employment |
Must work remotely for non-Spanish company |
| Income |
Minimum ~€2,400/month (200% SMI) |
| Spanish income limit |
Max 20% of income from Spanish clients |
| Property requirement |
None |
| Duration |
Up to 5 years |
| Tax regime |
Special 24% flat rate for first 4 years (Beckham Law) |
Best for: Remote workers, freelancers, and digital professionals who want to base themselves in Spain while working for foreign clients.
3. Investment Fund Route
| Requirement |
Detail |
| Investment |
€500,000+ in qualifying Spanish businesses |
| Type |
Business equity, not property |
| Work in Spain |
Permitted |
| Duration |
2 years, renewable |
Best for: High-net-worth investors looking for residency through business investment rather than property.
How Property Fits Alongside These Visas
None of these routes require property. But owning property in Spain:
- Provides a residential address for visa applications
- Demonstrates ties to Spain (strengthens Non-Lucrative applications)
- Generates passive income that contributes to income proof requirements
- Offers lifestyle benefits during your time in Spain
The investment case for western Costa del Sol property stands on its own merits (rental yields, capital appreciation). If you also want residency, these visa routes run in parallel.
EU Comparison: Where Else Can You Get Residency Through Investment?
| Country |
Route |
Minimum investment |
Property eligible? |
| Spain |
Non-Lucrative Visa |
Income proof only |
No (income-based) |
| Portugal |
Investment Fund |
€500,000 |
No (fund-based since 2023) |
| Greece |
Golden Visa |
€400,000+ |
Yes (still active) |
| Malta |
MRVP |
€150,000 (bonds) + rental/purchase |
Yes |
| Italy |
Investor Visa |
€500,000 (business) |
No |
Greece remains the last major EU country with an active property-based residency route.
Our Recommendation
Separate the property decision from the visa decision. Buy western Costa del Sol property because the investment case is strong. Apply for a visa if you want to live here. The two decisions reinforce each other but should be evaluated independently.
BlancaReal can refer you to specialist immigration lawyers for visa applications. Book a property consultation to discuss the investment side.
