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For years, the golden visa Spain offered was one of the best-known routes to residence for non-European property buyers. That route has now closed. Spain's investor residence visa was abolished by Organic Law 1/2025, with effect from 3 April 2025, as confirmed by La Moncloa and the government's Plataforma One portal.
The essential point for buyers is simple: foreigners remain entirely free to buy property in Spain, including in Marbella, but a purchase no longer grants a right of residence in itself. Anyone from outside the EU who wishes to live in Spain now needs to qualify through another route, such as the non-lucrative residence visa, the international telework visa or an entrepreneur route.
This guide explains what has changed, the main residence options that remain, how residence interacts with tax, and what it all means for buying a home on the Costa del Sol. It is general information rather than legal advice; immigration rules are detailed and personal, and we always recommend specialist legal counsel.
What the golden visa was, and why it ended
The golden visa was an investor residence permit. Among other forms of investment, it allowed non-EU nationals who bought Spanish real estate above a set threshold to obtain residence for themselves and their families, without any obligation to live in Spain full time. For many international buyers, it was a convenient way to combine a second home with the right to reside and travel within the Schengen area.
The investment route was removed by Organic Law 1/2025. The public debate that preceded the change focused on access to housing, and the government chose to end residence linked to investment rather than adjust it. From 3 April 2025, new applications through this route are no longer possible.
What it means for property buyers today
The end of the golden visa changes the reasons some people buy, not the ability to buy. There is no restriction on foreign ownership of residential property in Spain, and the buying process is exactly the same as before:
- you need an NIE, the identification number for foreigners, and a Spanish bank account;
- the purchase is signed before a notary and registered at the Land Registry;
- due diligence covers the land registry extract (nota simple), cadastral records, the first-occupation licence, the legality of extensions, community debts, IBI receipts and urban planning status.
Our guide to the process of purchasing real estate in Marbella sets out each step. What has changed is that residence must now be planned separately from the purchase, ideally before you commit to a property.
Citizens of the EU and EEA
For citizens of EU and EEA countries, the golden visa was never necessary. Freedom of movement allows them to live in Spain, subject to registration formalities, so its abolition has no effect on their plans.
Existing golden visa holders
Those who already hold, or had applied for, an investor residence permit should seek individual legal advice on renewals and their current position. Rules on transition are technical, and generalisations are unhelpful.
The residence routes that remain
Spain continues to offer several paths to residence for non-EU nationals. Each has its own conditions, documentation and financial requirements, which change from time to time, so the outline below is intentionally general.
The non-lucrative residence visa
This visa is designed for people who wish to live in Spain without working here, supported by their own means, such as savings, pensions or investment income. It is often the most natural fit for retirees and financially independent families who plan to spend most of the year in Marbella. Applicants must usually show sufficient resources and private health cover, and the permit does not allow local employment.
The international telework visa
Often described as the digital nomad visa, this route allows professionals who work remotely for companies or clients outside Spain to live here while continuing that work. It suits founders, consultants and executives whose working life is international and whose base can be anywhere with a good airport and a good connection.
Entrepreneur routes
For those who plan to launch or develop a business in Spain, entrepreneur routes offer residence linked to an innovative business project. They demand a well-prepared application and professional support.
Other routes
Other routes exist, including those for highly qualified professionals and for family members of residents. The right choice depends on nationality, family situation, professional activity and how much time you intend to spend in Spain, which is why a conversation with an immigration lawyer should come early in your planning.
Residence and tax residence are not the same
A residence permit allows you to live in Spain; tax residence determines where you pay tax. The two are related but distinct, and becoming resident can have significant tax consequences, because Spanish tax residents are generally taxed on their worldwide income. Whether you become tax resident depends on criteria such as the time you spend in Spain and where your economic interests lie.
If you remain non-resident
Owners who are not tax resident pay non-resident income tax (IRNR). For a home kept for own use or left empty, the tax authority imputes an annual income of 1.1% or 2% of the cadastral value, depending on whether it has been revised, filed on form 210. The general rates are 19% for EU and EEA residents and 24% for other non-residents, and rental income is taxed too.
If you become resident in Andalusia
Andalusia applies a 100% rebate on Wealth Tax, which makes the region attractive to many families. The state Temporary Solidarity Tax on Large Fortunes, created by Law 38/2022 initially for 2022 and 2023 and since extended, can still affect very large net worths. Individual tax advice before you move is essential. We explore these questions further in our article on taxation and advantages for international buyers in Marbella.
Buying costs are unchanged
The cost of acquiring a home is not affected by the end of the golden visa. In Andalusia, resale homes pay ITP at a general rate of 7%, while new builds pay 10% VAT plus AJD stamp duty at 1.2%. Notary, Land Registry and legal fees are added, and if the seller is non-resident the buyer must withhold 3% of the price and pay it to the tax authority on form 211.
Why Marbella remains a compelling choice
For many international families, the golden visa was only ever part of the story. What brings buyers to Marbella is the quality of life: the sea and the mountains, marinas from Puerto Banús to Sotogrande, golf, fine dining, several British and international schools, and the connections offered by Málaga-Costa del Sol airport. None of that has changed.
If you are weighing up where to buy, our overview of luxury property in Marbella and the Costa del Sol is a good starting point, and our selection of investment opportunities in Marbella focuses on homes with long-term appeal. For a view of the wider market, read whether now is a good time to invest in Marbella's luxury real estate market.
Frequently asked questions
Does Spain still have a golden visa?
No. The investor residence visa was abolished by Organic Law 1/2025, with effect from 3 April 2025. Buying property no longer grants residence in itself.
Can non-EU citizens still buy property in Spain?
Yes. There is no restriction on foreigners buying residential property. You need an NIE, a Spanish bank account and a notary, and the purchase is registered at the Land Registry.
What visa can I get if I buy a house in Spain?
A purchase no longer leads to a specific visa. Non-EU buyers usually consider the non-lucrative residence visa, the international telework visa or an entrepreneur route, each with its own conditions.
Does buying a property make me tax resident in Spain?
Not in itself. Tax residence depends on criteria such as time spent in Spain and where your economic interests lie. Non-resident owners pay non-resident income tax instead.
What should existing golden visa holders do?
They should take individual legal advice on renewals and their current status, as the position depends on personal circumstances.
Plan your move to Marbella with BARNES
A successful move now means planning residence, tax and property together. Our Marbella team works alongside trusted immigration lawyers and tax advisers, and can help you find a home that fits both your lifestyle and your plans. Explore all our luxury properties for sale or contact our Marbella agency for a confidential conversation.