Spain After the Golden Visa: Residency and Ownership Options for Foreign Buyers

Spain After the Golden Visa: What Foreign Buyers Need to Know

If you've been waiting to buy in Spain because you thought a property purchase would automatically hand you residency, the rules have changed. The Spanish government ended the residency-by-investment programme (the so‑called "Golden Visa") on 3 April 2025, closing the pathway that allowed non‑EU buyers to obtain residency by investing €500,000 or more in Spanish real estate.

The good news: you can still buy property in Spain as a foreigner. Ownership rights are not tied to residency, and Spain has several other visa routes that work well for retirees, remote workers, and long‑term second‑home owners. This guide walks you through the practical landscape — what changed, what didn't, and which residency options still make sense if you're combining a home purchase with a plan to spend meaningful time in Spain.

Immigration, tax, and property rules change frequently. Confirm anything time‑sensitive with the Spanish consulate, a licensed abogado, and a gestor or tax adviser before you act.

What Actually Ended — and What Didn't

The residency‑by‑real‑estate route is gone. But several things people confuse with it are unchanged:

• Foreigners can still buy property in Spain. There is no nationality restriction on ownership. You need an NIE (Número de Identificación de Extranjero) to transact — obtainable from a Spanish consulate abroad or in‑country.
• Buying property does not, on its own, give you the right to live in Spain long‑term. It never gave you unrestricted rights even under the Golden Visa — that programme granted a residence permit, not citizenship.
• The 90/180 Schengen rule still applies to US, Canadian, UK, and other non‑EU visitors. You can spend up to 90 days in any rolling 180‑day period as a tourist. Owning a home doesn't extend that.
• Existing Golden Visa holders keep their status and can generally renew under transitional rules. If you already hold one, speak to your immigration lawyer about renewal timing.

Residency Options That Still Work for Property Owners

Spain has replaced the investment route in practice, not in name, with several visas that suit different profiles. None of them require you to buy property — but all of them are compatible with owning one.

1. Non‑Lucrative Visa (NLV) — the classic retiree route

The non-lucrative visa Spain property combination is the most common setup for retirees and financially independent buyers from the US, Canada, and the UK. It's designed for people who can support themselves without working in Spain.

Key features:

• No work permitted for a Spanish employer or as a self‑employed resident. Passive income (pensions, dividends, rental income from abroad) is fine.
• You must show sufficient passive income or savings — the threshold is tied to the IPREM indicator and is adjusted periodically. Expect the main applicant to need roughly 4x the annual IPREM, with additional amounts per dependent. Confirm the current figure with the Spanish consulate handling your application.
• Private health insurance with full coverage in Spain, no co‑pays, no exclusions.
• Initial permit is one year, renewable for two‑year periods. After five years of legal residence you can apply for long‑term (permanent) residency.
• Tax consequence: spending more than 183 days in Spain in a calendar year triggers Spanish tax residency, meaning worldwide income is taxable in Spain. Model this with a cross‑border tax adviser before you commit.

2. Digital Nomad Visa — the remote‑worker route

The digital nomad visa Spain homeowner pairing has become the workhorse replacement for the Golden Visa among younger, working buyers. Created under the Startups Law (Ley 28/2022), it lets non‑EU nationals live in Spain while working remotely for foreign employers or foreign clients.

Requirements at a glance:

• Remote work for non‑Spanish companies (or a limited share of Spanish clients — commonly cited as up to 20%, verify current guidance).
• Proof of the employment or client relationship for at least three months prior, and a contract of at least one year forward.
• Minimum income benchmarked to the Spanish minimum wage (SMI) — commonly around 200% of SMI for the main applicant, more for dependents. Check the current SMI‑based threshold.
• University degree or three years of relevant professional experience.
• Clean criminal record, private health insurance, and standard consular paperwork.
• Attractive tax angle: eligible holders can apply for a special tax regime (a modernised version of the "Beckham Law") taxing Spanish‑source employment income at a flat rate (commonly 24% up to €600,000) for up to six years, and generally excluding foreign‑source income. Eligibility is technical — get written advice.

3. Passive Income / Investor Alternatives

If you have significant capital but don't qualify as a nomad or retiree, look at:

• Entrepreneur visa — for genuinely innovative businesses, evaluated by ENISA.
• Highly Qualified Professional visa — if a Spanish employer sponsors you.
• EU Blue Card — for high‑earning skilled workers with a Spanish job offer.

None of these are activated by buying property, but property ownership supports your application by demonstrating ties and address.

Buying Property Spain After Golden Visa: Does Anything Change?

Mechanically, the purchase process is unchanged. What's different is the motivation stack: buyers are no longer racing to hit the €500,000 threshold, so mid‑market properties (€150k–€400k) have become more competitive in Valencia, Málaga, Alicante, and the Canary and Balearic islands.

Your core steps remain:

1. Get your NIE before or during the search.
2. Open a Spanish bank account for the wire, utilities, and future taxes.
3. Sign a reservation contract (contrato de reserva) and then an arras (deposit) contract — typically 10%, forfeitable if you walk.
4. Independent legal due diligence on the Nota Simple from the Registro de la Propiedad, community debts, urban planning status, and (for rural land) any afecciones.
5. Sign the escritura pública before a Spanish notario, pay taxes, and register the title.

Who pays what — approximate ranges

Actual amounts vary by region (each comunidad autónoma sets its own transfer tax) and property type. Confirm with your abogado and the regional tax authority:

• Resale property: Transfer tax (ITP) typically 6–10%, depending on the region.
• New‑build from a developer: VAT (IVA) at 10% plus AJD (stamp duty) commonly 0.5–1.5%.
• Notary, registry, and legal fees: budget roughly 2–3% combined.
• Plusvalía municipal: paid by the seller by default, but negotiable; confirm on your contract.

Owning and Maintaining Without Residency

You can own a Spanish home indefinitely as a non‑resident. What you can't do is live in it more than 90 days per 180 without a visa. Practical implications:

• Non‑resident income tax (IRNR): even if you don't rent the property, Spain imputes a notional income and taxes it annually. If you rent it out, actual rental income is taxed — EU/EEA residents can deduct expenses; non‑EU residents historically could not, though rules evolve. Verify current treatment with a Spanish tax adviser.
• IBI (annual municipal property tax), rubbish collection, and community fees apply regardless of residency.
• Wealth tax and the "Solidarity Tax on Large Fortunes" can affect high‑value holdings; thresholds and regional bonifications vary sharply (Madrid vs Andalucía vs Baleares).
• Appoint a fiscal representative if you're a non‑resident — it simplifies filings and correspondence with the Agencia Tributaria.

Common Pitfalls

• Assuming the purchase creates residency rights. It doesn't, and it never fully did.
• Underestimating tax residency risk. The 183‑day line is bright and enforced; day counts include partial days.
• Skipping independent legal counsel. Never use the seller's or developer's lawyer as your only representative.
• Off‑plan without bank guarantees. Spanish law requires developers to guarantee deposits — insist on the aval bancario or insurance policy in writing.
• Ignoring regional variation. Transfer tax, wealth tax, short‑term rental licences, and inheritance tax all differ by comunidad autónoma.

Short FAQ

Can I still get Spanish residency by buying a home? No. The investor residency programme closed in April 2025. Look at the non‑lucrative or digital nomad visas instead.

Do I need to live in Spain to buy? No. You can buy remotely using a Power of Attorney signed at a Spanish consulate or apostilled abroad.

Will owning a home help a future visa application? It's not a qualifying factor, but it demonstrates ties and provides a registered address, which is useful administratively.

Can I rent out my property as a non‑resident? Yes, subject to regional tourist‑licence rules (especially strict in Barcelona, the Balearics, and parts of the Canaries), community bylaws, and IRNR filings.

Bottom Line

The end of the Golden Visa removed a shortcut, not the destination. If your goal is a home in Spain plus meaningful time there, the non‑lucrative and digital nomad visas cover most buyer profiles, and the purchase mechanics are the same as before — arguably easier now that the €500k rush has cooled. Build your plan around residency first, property second, and confirm every figure and rule in this guide with a licensed Spanish abogado and tax adviser before you sign anything.