An alternative to Spain’s Golden Visa

An investment residence permit is a convenient and straightforward way to obtain a residence permit in exchange for financial investment in the economy, business or property. Spain has abolished the Golden Visa with effect from 3 April 2025. Such investment routes have been removed from immigration legislation, and the requirements for potential applicants have been significantly tightened. What alternatives are there to Spain’s Golden Visa in 2026?

How things used to be

Until 2025, the country operated under a relatively simple, clear and transparent scheme. By investing money in property, a bank deposit, securities, government bonds or a business project, it was possible to obtain a residence permit. This format of Spanish residence permit was often chosen by wealthy foreigners.

The main reason for the success of such programmes was the significantly faster administrative procedures. The financial requirements were quite high – from €500,000. However, if a wealthy foreigner was interested in moving to Spain, the investment requirements were no longer perceived as too onerous.

The programme encouraged the inflow of foreign investment into the country and provided the opportunity to subsequently apply for permanent residence and citizenship, provided the standard residence requirements were met. Few people questioned whether it was possible to obtain a Spanish Golden Visa; the programme simply worked. Its requirements were well understood, and refusals to grant visas were rare, provided the standard conditions for an investment residence permit were met.

Abolition of the Spanish Golden Visa in 2025

The investment residence permit scheme was introduced into the regulatory framework in 2013 under the Ley de Emprendedores. The reasons for the removal of this option are linked to several factors. The main one is the heavy pressure on the property market. Immigration requirements in the European Union have become stricter, and a trend towards rising prices has emerged. There have also been increasing instances of investment residence permits being issued to unreliable foreigners who used this route for financial and tax offences.

In 2026, Spain’s Golden Visa programme was closed, and there are no official plans to relaunch it. This was formally enshrined in the Ley Orgánica 1/2025, adopted on 3 April 2025. The legislation introduced significant changes to immigration rules, repealing the Ley de Emprendedores.

There is no direct alternative to the Spanish Golden Visa. However, this does not mean that wealthy foreigners will now only be able to enter the country on general terms. The standard immigration route is the Spanish residence permit for financially independent individuals (Non-Lucrative Residence Visa). The main conditions of the programme are sufficient passive income and significant restrictions on working or running a business in the country.

There are other options tailored to specific categories of foreigners. Typical examples include digital nomads, businesspeople and start-up founders, skilled workers, and in some cases, students. Therefore, the mere fact that the Spanish Golden Visa has been abolished does not mean the country is closed to foreign investors and businesspeople. If you take the new immigration rules into account and comply with them, prepare for the move and plan your next steps, it is still possible to obtain a residence permit.

Possible alternatives to the Spanish Golden Visa

The Organic Law 1/2025 has introduced significant changes to immigration rules. However, the possibility of moving to the country for long-term or permanent residence remains; only the investment route has been removed, which is often mistakenly reduced to the formula ‘invest money and obtain a residence permit’. This is incorrect. When the Spanish Golden Visa was abolished, other grounds for obtaining a residence permit remained available, provided the applicant meets the established requirements.

Spain’s Golden Visa will no longer be in effect in 2026, but there are other legal options for those foreigners interested in long-term residence and/or a residence permit:

• Residence permit via passive income for high-net-worth individuals, non-lucrative residence visa;
• Digital nomad visa, visado de nómada digital / visado para teletrabajadores internacionales;
• start-up or business, visado de emprendedor / residencia para emprendedores.

Other options for obtaining a Spanish residence permit following the abolition of the Golden Visa, which are not directly linked to investment and/or business activities, include employment on a contract basis, studying at a university or college, family reunification, and a residence permit on the grounds of long-term residence (autorización de residencia por arraigo).

What to replace the Spanish Golden Visa with

Choosing an immigration route has become a little more complicated. Now you need to select the option that best suits your situation, assess the available opportunities and take potential restrictions into account.

What to do following the abolition of Spain’s Golden Visa? Firstly, you need to understand which type of residence permit is generally suitable for you. If your financial well-being is based on passive income, and this is sufficient to maintain the standard of living to which you are accustomed, then a Spanish residence permit for financially independent individuals will suit you. Additionally, existing savings, investments in securities and other sources of wealth may be taken into account.

Non-residents working for overseas clients often opt for the Digital Nomad visa. This option allows you to receive foreign income in the country, though the proportion of revenue from Spanish clients and companies is limited to no more than 20% of the total. This option is suitable for those who are used to working remotely and are not tied to a specific country. The Spanish Digital Nomad visa, as an alternative to an investment residence permit, comes with slightly fewer restrictions. However, in any case, you will need to meet all the standard eligibility criteria.

The third immigration route is suitable for founders of promising start-ups. Its advantage is the opportunity to develop a business in the country. You will need to demonstrate the viability of the project, obtain approval from the relevant government body, and meet the standard eligibility requirements. But if you are interested in a business-oriented Spanish residence permit option instead of a Golden Visa, this route is certainly worth considering.

Possible alternatives:

What has changed for investors and high-net-worth individuals?

When Spain’s Golden Visa scheme was closed, it was unclear to what extent the remaining immigration routes would meet the needs of foreigners who had previously focused on the investment route. However, the main changes did not eliminate the possibility of relocation for high-net-worth individuals. They altered the approach, shifting the focus from an investment-based principle to a qualification-based one.

Therefore, a negative answer to the question of whether Spain’s Golden Visa will still be in place in 2026 should not cause you too much concern. The rules have changed. Your level of financial standing remains important, but only as one of the criteria.

The key factors are now:

• source of income and its stability;
• the structure of your personal finances and their source;
• type of employment, qualifications;
• compliance with standard residence permit requirements;
• compliance with tax and financial regulations.

When the Spanish Golden Visa was abolished, the options available narrowed somewhat to the existing immigration routes. However, this change has not made the country any less attractive to wealthy foreigners. The process has become more structured and predictable, though it now requires more thorough preparation. Alternatives to the Spanish Golden Visa remain, and it is still possible to obtain a residence permit.

Conclusions

There are virtually no relatively straightforward options left for obtaining a residence permit in exchange for investment or contributions to state funds, businesses or property in Europe. The fact that the Spanish Golden Visa has been abolished fits well with the new realities, which are based on control, compliance with basic requirements and mandatory preparation for participation in such a scheme.

The choice of immigration route now depends on the goals you set for yourself and the opportunities available to you. Wealthy foreigners with sufficient passive income who meet a number of basic requirements often opt for the Spanish residence permit for financially independent individuals.

Freelancers, digital nomads and expats not tied to office-based work are not usually interested in this route. The Spanish Digital Nomad visa, as an alternative to the investment residence permit, is suitable for long-term residence without the need to run a business. These are two broadly universal immigration routes. The third is a residence permit for entrepreneurs and start-up founders, but this has a more specific focus.

If you require further information on this topic, please contact our experts in whatever way is most convenient for you.