What Was the Golden Visa?
Spain's Golden Visa (Visado de Inversor) allowed non-EU nationals to obtain Spanish residency through significant financial investment. The most popular route was purchasing property worth at least €500,000 free of mortgage. Alternative routes included financial investments and business projects.
The Golden Visa provided residency rights without requiring continuous residence in Spain — making it attractive as an insurance policy for wealthy non-EU nationals who wanted an EU base without committing to full-time residence.
The End of the Property Route
In April 2024, the Spanish government announced the abolition of the Golden Visa property route, citing concerns about its impact on housing markets in Madrid, Barcelona, and the Balearic Islands. Those who obtained Golden Visas before the abolition retain their status and can renew. New applications for the property route are no longer available.
Other Golden Visa routes (financial investment, bonds, business) may continue in modified form — check current legislation for the latest status.
NLV vs Golden Visa: Key Differences
| Feature | NLV | Golden Visa |
|---|---|---|
| Investment required | No — income/savings | Yes — €500,000+ property |
| Residence in Spain required | Yes — majority of year | No minimum stay required |
| Working permitted | No | Yes |
| Property investment route available | N/A | No (abolished 2024) |
What Property Investors Should Do Instead
For non-EU nationals who want to buy property in Spain but no longer have the Golden Visa route, the options are: apply for the NLV (if passive income qualifies), apply for the DNV (if working remotely), consider other investment-based routes (if they remain after legislative changes), or accept that property ownership alone no longer provides a residency route and plan accordingly.
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