Spain’s Golden Visa is no longer available for new applications linked to property investment. From 3 April 2025, Spain removed the residence-by-investment route that allowed non-EU buyers to apply for residency through a real estate investment.
That does not mean Spain is no longer attractive for international buyers. It simply means that buying a property should no longer be seen as an automatic shortcut to residency.
In my experience working with international buyers on the Costa del Sol, the mistake is often trying to mix everything together: residency, tax, investment, lifestyle and the property purchase itself. My advice is to separate those decisions. First, understand how you want to live in Spain. Then, check which residency route may fit your situation. Only after that should you choose a property that genuinely supports your plan.
The Golden Visa has ended, but Spain remains attractive
For years, many non-EU buyers looked at Spain because a property investment of over €500,000 could open the door to residency. That route is no longer available for new applicants, but the desire to live, invest or spend more time in Spain has not disappeared.
What has changed is the approach. It no longer makes sense to buy a home mainly because of the residence permit. The better question is: do you want to live in Spain full-time, spend long periods here, work remotely, buy a second home or invest for the long term?
At The Property Agent, I mainly work with international buyers looking for new build and off-plan homes on the Costa del Sol, especially in areas such as Sotogrande, Estepona, Manilva, Benahavís, La Alcaidesa, Casares and La Duquesa. Many of these buyers are not just looking for a beautiful property. They are looking for clarity, security and a purchase that fits their lifestyle.
Main alternatives to the Golden Visa in Spain
The right alternative depends on your personal situation. Before making decisions, it is important to speak with an immigration lawyer and check the latest requirements.
Non-lucrative residence visa
The non-lucrative visa may suit people who want to live in Spain without working in the country. It is often considered by retirees, people with passive income or those who can support themselves financially. In general, applicants need to show sufficient funds, private health insurance and meet consular requirements. Spain’s Ministry of Foreign Affairs provides consular information about national visas, including non-lucrative residence visas.
This can be a relevant option for buyers who want to make Spain their main base but do not plan to work here.
Digital nomad visa
The digital nomad visa can be an option for professionals who work remotely for companies or clients outside Spain. The official Spanish international trade portal explains that, when the applicant is legally in Spain, the residence authorisation may allow them to live and work throughout the country for three years.
For many international buyers, this route makes sense if they want to live on the Costa del Sol while continuing their professional activity abroad. In this case, tax planning is especially important.
Entrepreneur visa or professional permits
Some buyers may also explore routes linked to entrepreneurship, qualified professional activity or work permits. These are not universal alternatives, but they may be relevant for business owners or professionals planning to develop a real activity in Spain.
This is where caution matters. A property purchase is not the same as a business project, and not every business idea will support a residence application. Each case should be reviewed with the right legal advisers.
Quick comparison: which option may fit your profile?
| Profile | Possible option | Practical comment |
|---|---|---|
| Retiree or person with passive income | Non-lucrative visa | May suit those who want to live in Spain without working |
| Remote professional | Digital nomad visa | Useful if you work for companies or clients outside Spain |
| Entrepreneur | Entrepreneur or professional permit | Requires a solid project and legal advice |
| Second-home buyer | Planned stays + tax advice | You may not need immediate residency |
| Property investor | Purchase without automatic residency | Buying can still make sense, but no longer grants residency by itself |
Can I buy property in Spain without the Golden Visa?
Yes. Foreign buyers can still purchase property in Spain even if they are not residents. The important thing is not to confuse two separate matters: owning a property and having the legal right to live in Spain.
With new build and off-plan property, my role is to help buyers understand exactly what they are buying: the developer, the area, the payment schedule, guarantees, costs, orientation, community fees and the real lifestyle value of the property.
For example, a development such as Village Verde Sotogrande may appeal to a buyer looking for lifestyle, security, services and a well-established location within La Reserva. But that property decision should still be supported by proper legal, tax and residency planning.
Buying on the Costa del Sol after the end of the Golden Visa
The Costa del Sol remains highly attractive to international buyers. Sotogrande, Estepona, Benahavís, Manilva, Casares and La Alcaidesa all offer different lifestyles: golf, beach, international schools, privacy, new developments, luxury villas, modern apartments and good connections to Gibraltar and Málaga.
In my case, I see that foreign buyers increasingly value a clear process. When someone is buying from another country, every detail matters more: an unclear clause, an uncertain delivery date or an unexpected cost can stop a decision. That is why I always focus on explaining the process clearly, without sales jargon, pressure or hidden details.
Residency is a legal decision. The quality of the purchase is decided on the ground: area, developer, orientation, community, specifications, timelines and real lifestyle fit.
Common mistakes when looking for Golden Visa alternatives
The first mistake is thinking that buying a property still gives automatic residency. It does not.
The second is choosing a property before defining your life plan in Spain. Buying for summer holidays is not the same as relocating with your family, working remotely or retiring here.
The third is failing to coordinate the right team: estate agent, property lawyer, tax adviser and immigration specialist. Each one covers a different part of the decision.
The fourth is being guided by pressure or promises of return. A good property purchase does not need pressure. It needs information.
Spain remains a strong choice when you buy with the right plan
The Golden Visa has ended, but Spain can still be an excellent choice for many international buyers. The key is to change the approach: do not buy simply to obtain a visa; buy because the property, the area and your lifestyle plan make sense.
My advice is simple: define how you want to live in Spain, validate your residency route with a legal expert, and then look for a home that fits that plan. If you are considering new build or off-plan property in Sotogrande and the Costa del Sol, you can contact The Property Agent to explore your options with clarity and calm.
