What happened to the Spain Golden Visa
Spain's investment visa for real estate (Visado de Inversores, established by Ley 14/2013) was closed to new residential property applicants by Real Decreto-ley 1/2025, published in the Boletin Oficial del Estado and effective 3 April 2025. The stated government reason was housing affordability — the programme had been blamed, among other factors, for price pressure in cities like Barcelona, Madrid, and Malaga.
Existing permit holders: buyers who obtained Golden Visa permits before 3 April 2025 retain their permits under existing renewal rules. The abolition applies to new applications only.
What the Golden Visa was: a two-year initial residence permit, renewable in five-year blocks, with no minimum time-in-Spain requirement, granted in exchange for a minimum €500,000 unencumbered investment in Spanish real estate. It gave full Schengen travel rights and the right to live, work, and study in Spain. After five years of legal residence, long-term EU residence was available; after ten years, Spanish citizenship eligibility arose.
Alternative residency routes for non-EU Marbella buyers (2026)
The four active residency routes for non-EU buyers in Spain as of June 2026:
1. Non-Lucrative Visa (Visado de Residencia No Lucrativa): requires passive income sufficient to cover living costs — approximately €2,400/month per applicant plus €600 per dependent in practice, though the legal threshold is 400% of the Spanish IPREM. No work permitted. Annual renewal; converts to long-term residency after 5 years. Application via Spanish consulate in home country. Processing: 1-3 months. This is the most commonly used route for Marbella buyers who live off capital or investments.
2. Digital Nomad Visa (Visa para Teletrabajadores Internacionales): established by the Startups Law (Ley 28/2022). For remote workers employed by non-Spanish companies, earning above 200% of Spain's minimum wage (approximately €28,000/year in 2026). No minimum time in Spain. Can be combined with the Beckham Law flat-rate tax regime. Application via consulate or (if already in Spain) via SEPE.
3. Beckham Law regime (Article 93 LIRPF): not strictly a visa, but a tax regime available to new Spanish residents who move for qualifying employment, entrepreneurship, or (post-2023) digital nomad work. Flat 24% IRPF rate on Spanish income for up to 6 years. Can be applied for in conjunction with other visa categories. Most relevant for Marbella buyers who are establishing a business or bringing employment to Spain.
4. Entrepreneur Visa (Visa Emprendedor, via ENISA): for founders of scalable businesses that the Empresa Nacional de Innovacion S.A. (ENISA) certifies as innovative. Requires a business plan review. Less commonly used than the above three by property buyers but applicable for genuine founders.
What the abolition means for the Marbella property market
The practical effect on the Muse Selection register (€1.5M+) is modest. EU buyers — Germans, Scandinavians, French, Dutch, Belgians — were never eligible for the Golden Visa and never needed it. British buyers (post-Brexit) who wanted residency primarily needed a Non-Lucrative Visa, as most Golden Mile-level buyers were not constrained by the 90-day rule if they had NLV. American and Middle Eastern buyers who specifically sought the Golden Visa route are the primary affected group.
In the quarters since the abolition the desk has seen no material change in enquiry volume or in the pace of the Golden Mile and Sierra Blanca registers — consistent with the view that Golden-Visa-driven buying was only ever a small part of the €1.5M+ segment. That is an observation from our own pipeline, not a market-wide measurement: Spain publishes no completed-sale data at property level against which such a shift could be tested.
The Non-Lucrative Visa, Digital Nomad Visa, and Beckham Law regime together satisfy the residency requirements of the buyer profiles that previously used the Golden Visa — at lower upfront investment thresholds (no €500k minimum) and with more structured ongoing compliance requirements (income documentation, presence requirements where applicable).
“I would like to express my gratitude to the Muse real estate agency in Marbella, with whom I have had an exceptional collaboration during the process of purchasing a home for my clients. Without a doubt, they have a highly skilled and committed team. I wholeheartedly recommend their services.”
“From the first interaction, Maria demonstrates professionalism and a keen understanding of her clients’ needs. Whether buying or selling, her guidance is always informed, reliable, and tailored to the client’s best interests.”
Frequently asked questions
Is the Spain Golden Visa still available in 2026?
No. The Spain Golden Visa for residential property investment was abolished by Real Decreto-ley 1/2025, effective 3 April 2025. Existing permit holders keep their permits. New applications are no longer accepted.
What are the alternatives to the Spain Golden Visa for non-EU buyers in Marbella?
The four active routes in 2026 are: Non-Lucrative Visa (passive income ~€2,400/month), Digital Nomad Visa (remote work for non-Spanish employer, Startups Law 2022), Beckham Law (employment/entrepreneur, flat 24% IRPF for 6 years), and Entrepreneur Visa via ENISA (scalable startup certification).
Can I still get residency by buying a property in Marbella?
Property purchase alone no longer grants residency following the abolition of the Golden Visa on 3 April 2025. However, Non-EU buyers can obtain Spanish residency through income-based (Non-Lucrative Visa), work-based (Digital Nomad Visa, Beckham Law), or enterprise-based (Entrepreneur Visa) routes independently of property ownership.