The Golden Visa is closed: how a wealthy buyer can obtain Spanish residency status in 2026, and why this did not stop the inflow of capital into Marbella

For more than ten years, buying real estate in Spain for an amount of at least half a million euros automatically opened the way to residency. For many affluent buyers, Marbella’s Golden Visa was not just a bonus on top of a sea-view villa. It was the very reason for the deal: by purchasing a home, the investor gained the right to live in Europe, freedom of movement across the Schengen area, and a clear path to permanent residency. In 2025, this scheme was shut down.

For the audience considering the Costa del Sol as a base for a family or as a long-term asset, the question became urgent: if buying real estate no longer grants residency status, how can people legally live in Spain now? The good news is that several routes remain, and for most buyer profiles they work. This guide explains what was closed, what current visa holders kept, and which routes lead to Spanish residency in 2026.

This material is for information purposes only and does not replace a consultation with a specialized lawyer and tax advisor for your specific situation.

A short version for those in a hurry

Spain’s Golden Visa, which provided residency for purchasing real estate worth at least half a million euros, was abolished by Organic Law 1/2025 starting from April 3, 2025. New applications through real estate investment are no longer accepted, but existing holders keep their rights and the ability to renew. Buying real estate by foreigners remains fully legal. It simply no longer provides an automatic right to residency. The main alternative routes in 2026 are: the Digital Nomad Visa for those who work remotely, the Non-Lucrative Visa for those who live on passive income or savings, and business visas. For many relocating premium-segment buyers, the key role is played by a special tax regime for expats known as the Beckham Law, with a flat rate of 24 percent.

What exactly was closed and why

The Golden Visa was introduced in 2013 by an entrepreneurship support law as a tool to attract foreign capital amid the economic crisis at the time. It linked obtaining residency to purchasing real estate in Spain for at least five hundred thousand euros, excluding mortgages and encumbrances, as well as to a number of financial investments.

The cancellation was set out in Organic Law 1/2025, published on January 3, 2025, and it took effect three months later, meaning from April 3, 2025. From that date, new applications under the Golden Visa criteria are no longer accepted. It was not only the real estate option that disappeared, but also other investment modalities, including obtaining residency through the purchase of Spanish government debt for at least two million euros.

The authorities’ reasoning was social. The government explained the decision as an effort to turn housing from a speculation asset into an accessible right for those who already live and work in the country. The argument was that the vast majority of such visas were tied specifically to real estate in cities with an overheated housing market. Pressure from Brussels also played a role: since 2022, the European Parliament has been pushing to wind down similar schemes across the bloc, citing money-laundering risks. Spain was not the first here. Portugal closed its real estate route in 2023, and Ireland shut down its program at the same time.

Between 2014 and 2023, Spain issued around twenty-two thousand Golden Visas, and a significant share of applicants were citizens from outside the EU. Closing this channel removed one of the most popular migration routes in Europe through real estate.

What current visa holders keep

The cancellation does not apply retroactively to those already in the system. Applications submitted before April 3, 2025 are processed under the previous rules. Current Golden Visa holders keep their residency rights. They can renew permits if they meet the original criteria and move toward permanent residency after five years of residence. The visa also allowed the applicant’s closest family members, the spouse and children, to use residency.

A practical takeaway for the market: buyers who managed to enter the program before the deadline lost nothing. For everyone else, entry through real estate purchase is closed, and you need to look at alternative routes.

Buying real estate in Marbella remains fully open

It is important to clear up the main misunderstanding. The abolition of the Golden Visa does not restrict foreigners’ right to buy real estate in Spain. Buying a villa or an apartment in Marbella remains completely legal and available to non-residents, and the current selection of properties on the Costa del Sol is still open to buyers from anywhere in the world. One thing has changed: the purchase itself no longer provides an automatic residency permit.

This separation of two issues—buying an asset and obtaining status—is the essence of the new reality in 2026. Previously, they were handled through one deal. Now they need to be planned separately. For an affluent buyer, this means that the real estate ownership strategy and the residency strategy should be built in parallel from the very beginning.

Alternative one: the Digital Nomad Visa

For buyers who continue working remotely for companies or clients outside Spain, the Digital Nomad Visa has become one of the most in-demand routes. It was introduced in January 2023 as part of the startup law and allows citizens of countries outside the EU to live in Spain and work remotely for up to five years.

In 2026, the minimum income threshold is tied to 200 percent of the Spanish minimum wage and is about 2,850 euros per month for one applicant. For a family, the thresholds are higher: roughly about 1,670–1,770 euros per month for the first family member and about 350–360 euros per month for each additional family member. You also need no more than 20 percent of income from Spanish companies, an employment history, and private medical insurance from a Spanish provider.

You can apply at a Spanish consulate in your country of residence, which provides a one-year visa, or from inside Spain through the relevant department, which provides a three-year permit. An important nuance that lawyers warn about: you cannot switch to the Digital Nomad Visa from inside the country from a visa with no right to work or from tourist entry. To do that, you must leave and apply at the consulate.

For a real estate buyer in Marbella, this route is especially logical if the source of income is abroad, and the villa or apartment itself becomes a base for living and working by the sea.

Alternative two: a visa with no right to work

For those who do not work and live on passive income, rent, dividends, or savings, a visa with no right to work (Non-Lucrative Visa) is suitable. This is the classic route for affluent families, early retirees, and people whose capital already works for them.

In 2026, you need to prove passive income of about 2,400 euros per month, which corresponds to approximately 28,800–8,000 euros per year, and also provide comprehensive private medical insurance from a Spanish provider and pass a criminal record check. For each additional family member, you need an extra approximately 600 euros per month of proven income. That means a couple needs about 3,000 euros per month.

This route has a significant limitation that applicants often underestimate: a complete ban on any work activity, including remote work. If you need to work, you will have to choose the Digital Nomad Visa. In addition, a visa with no right to work assumes living in the country for most of the year, which makes the applicant a Spanish tax resident with all the consequences for worldwide income. That is why tax planning before moving is especially important for this route.

Alternative three: business routes

For those who are ready to run a business in Spain or invest in a company, business visa routes remain available. They require a well-developed business plan and, as a rule, proof of the project’s public or economic benefit. This path is more difficult to prepare, but it remains open to active investors who want not just to live in the country, but to develop a business there. Professional legal support is especially important here, because the requirements for justifying the project are strict.

Key element: the Beckham tax regime

For many premium-segment movers, the tax side of the move matters more than the visa route itself. Here, the central role is played by a special tax regime for expats, widely known as the Beckham Law.

Spain’s standard progressive income tax scale reaches 47 percent for high incomes, and the exact rate depends on the autonomous community. The Beckham regime allows eligible individuals to pay a flat rate of 24 percent on labor income from Spanish sources up to 600,000 euros per year. The regime applies in the year of arrival plus the next five years, meaning up to six years, provided the person was not a Spanish tax resident during the five years before moving. Foreign income is generally not taxed in Spain, although there are exceptions.

There is an important limitation you need to understand in advance. The Beckham regime is available to holders of the Digital Nomad Visa who work under an employment contract for a company outside Spain. Freelancers registered as autonomos are excluded from the regime and pay under the standard progressive scale plus mandatory social security contributions. Holders of a visa with no right to work are not eligible for Beckham, because it is reserved for those relocating due to employment activity.

To use the regime, you must submit an application within six months from registration in the social security system or from the start of the relevant activity. Missing this deadline automatically moves the person to standard taxation, which for high income means losing significant sums. That is why the tax strategy should be built from day one, not after moving.

How to choose a route: logic for a real estate buyer

Let’s put everything together from the perspective of someone buying real estate in Marbella and planning to live here. If your income is active and comes from remote work for a foreign employer, your route is the Digital Nomad Visa, and if you work under an employment contract, the Beckham regime tax advantage is added. If you live on passive income, rent, or savings and do not plan to work, the Non-Lucrative Visa fits, but with careful tax planning due to automatic tax residency. If you want to run a business in Spain, you should consider business routes with professional support.

The overall conclusion is that buying real estate and obtaining residency status are now two separate projects that make sense to run in parallel. A villa or apartment remains an asset and a base for living, while status is built through the route that matches your source of income and your tax situation.

Why the cancellation did not stop capital inflow to Marbella

It might have seemed that shutting down the Golden Visa would cool demand from affluent buyers. In practice, that did not happen, and the reason lies in the very nature of demand for the Costa del Sol.

More and more buyers are acquiring property in Marbella not as a pure investment for residency, but as a multi-generational family asset intended for use, living, and long-term ownership. In conditions of geopolitical uncertainty and changing tax regimes, prestigious residential markets that combine quality of life with political and economic stability are attracting even more attention. Marbella, with its climate, infrastructure, and established multicultural environment, benefits from this trend directly.

In other words, for the audience that chooses Marbella, residency status was a pleasant addition, but not the main motivation. People buy here for the lifestyle, for capital security, and for the family future. If needed, residency status is arranged through alternative routes that are sufficient. Limited supply of well-located housing and steady international demand continue to support the market.

The ABARZO team helps you build a real estate purchase strategy in Marbella based on your plans for living and select a property that meets your long-term goals. Contact us to discuss your situation.

ABARZO Real Estate — Your guide to real estate and Marbella lifestyle