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Spain’s well-known Golden Visa programme, which once allowed non-EU buyers to obtain residency by investing €500,000 in real estate, officially came to an end on 3 April 2025.
For international buyers looking at the Costa del Sol not just as a place to invest, but as a place to live, even part of the year, it’s now more important than ever to understand what’s changed and what residency options are still available.
What Was the Golden Visa and Why Did It End?
When the Golden Visa was introduced back in 2013, Spain was still dealing with the aftermath of the financial crisis. The idea was simple: attract foreign investment into the country, particularly into real estate.
In return for investing at least €500,000 in property, non-EU buyers could secure a Spanish residency permit.
For many, it offered a level of flexibility that traditional visas didn’t. You didn’t need to spend most of the year in Spain, restructure your life, or fully relocate. It made owning a home in places like Marbella far more practical for international families.
But over time, the narrative around the programme began to shift. As property prices climbed, especially in cities like Barcelona and Madrid, concerns grew that foreign investment was contributing to affordability issues for residents. The Spanish government, led by Pedro Sánchez, ultimately decided to close the scheme, framing the move as part of a broader effort to address the housing crisis.
As of April 2025, no new applications are accepted. However, existing Golden Visa holders can continue to renew their permits under the original conditions.
New Residency Options for Foreign Buyers
The end of the Golden Visa doesn’t mean Spain has closed its doors to foreign residents. It simply means that buying property and obtaining residency are now two separate decisions.
The good news is that there are still several well-established routes, and depending on your lifestyle, they may actually be a better fit.
Non-Lucrative Visa
For retirees or anyone living off passive income, the Non-Lucrative Visa is often the most straightforward option.
It’s designed for people who do not intend to work in Spain and can support themselves through pensions, investments, rental income, or savings. The current threshold sits at around €2,400 per month for a single applicant, with higher requirements if you’re applying with a family.
The visa is initially granted for one year, then renewed in two-year periods. After five years, permanent residency becomes an option, followed by citizenship after ten.
There is one key condition: this visa requires you to genuinely live in Spain for more than half the year, for at least 183 days. So it’s best suited to those planning a full relocation, not occasional visits.
Digital Nomad Visa
For remote workers, freelancers, and entrepreneurs working with international clients, the Digital Nomad Visa has become one of the most attractive routes.
To qualify, you’ll need to show an income of roughly €2,850 per month for a single applicant, increasing with dependants.
One of the main advantages is access to Spain’s “Beckham Law,” a special tax regime that allows eligible individuals to pay a flat 24% income tax for up to six years, a significant benefit for high earners.
The visa can be granted for up to three years and renewed, with the same long-term path to permanent residency and citizenship.
Entrepreneur and Startup Visa
This route is aimed at those looking to build something in Spain, whether that’s launching a startup or developing an innovative business.
Applications are assessed based on the business idea, its viability, and its potential economic contribution. It’s not a casual process, and most applicants will need professional legal guidance to navigate it properly.
Choosing Not to Apply for Residency
It’s also worth saying that not every buyer needs a residency visa. Non-EU nationals can still spend up to 90 days in Spain within any 180 days without applying for residency.
For many buyers, especially those looking for a second home or a holiday property, that’s more than enough. In these cases, the process is relatively simple: obtain an NIE number, complete the purchase, and use the property when you visit.
Marbella Remains as Attractive as Ever
None of these changes takes away from what makes Marbella and the greater Marbella area so attractive.
International demand for property remains strong, with foreign buyers accounting for a significant share of transactions. And at the top end of the market, Marbella continues to stand out, whether it’s for its golf courses, its restaurants, or simply its lifestyle.
What has changed is the way buyers need to think about their move. Property and residency are no longer part of the same process. They need to be planned side by side, from the very beginning.
With the right advice, both from a trusted real estate expert and a qualified immigration lawyer, the process is still entirely achievable. Whether you’re planning to relocate full-time or simply invest in a second home, the options are still very much there.
The Golden Visa may have closed, but Marbella’s appeal hasn’t gone anywhere.
