Spain's Golden Visa: What Changed & Alternative Residency Options | Hansson & Hertzell

Spain's Golden Visa: What It Was and What Has Changed

Important update: Spain's Golden Visa programme was officially discontinued in April 2025. This article has been updated to reflect the current situation and guide you through the best alternative residency options for property investors on Costa Blanca.

What Was the Spanish Golden Visa?

The Golden Visa programme, launched in 2013, granted temporary residency to non-EU citizens and their families who invested a minimum of €500,000 in Spanish real estate. It was one of Europe's most attractive investor visa schemes, ranked 5th out of 24 on the Global Residency Program Index.

The visa offered several compelling benefits: residency for the entire family, no requirement to live in Spain for more than 183 days per year, the ability to work in Spain, and a clear path toward permanent residency and eventually citizenship. For many international buyers purchasing property on the Costa Blanca, it was a key motivator.

Why Was the Golden Visa Discontinued?

The Spanish government ended the programme citing concerns about its impact on housing affordability, particularly in major cities like Madrid and Barcelona. The influx of foreign investment was seen as contributing to rising property prices in already competitive urban markets.

However, it is worth noting that the Costa Blanca property market operates quite differently from major Spanish cities. New build homes in areas like Torrevieja, Orihuela Costa, and Alicante remain competitively priced and continue to attract international buyers for lifestyle and investment purposes.

Alternative Residency Options for Property Buyers

The end of the Golden Visa does not mean the end of opportunities to live in Spain. Several alternative residency routes remain available:

Non-Lucrative Visa

The most popular alternative for retirees and those with passive income. It requires proof of sufficient financial means (approximately €28,800 per year for the main applicant) and private health insurance. While it does not permit you to work in Spain, it grants full residency rights.

Digital Nomad Visa

Ideal for remote workers and freelancers. Spain's digital nomad visa allows non-EU nationals to live and work remotely from Spain, with favourable tax treatment during the first few years.

Self-Employment or Entrepreneur Visa

For those looking to start a business in Spain, this visa offers a pathway to residency while contributing to the local economy.

For a comprehensive guide to all available options, read our detailed article: Best Alternative Residency Options After Spain's Golden Visa.

Why Costa Blanca Remains a Top Investment Destination

Regardless of visa programmes, Costa Blanca continues to be one of Europe's most attractive regions for property investment. With over 300 days of sunshine per year, excellent healthcare infrastructure, international schools, world-class golf courses, and a well-established international community, the lifestyle benefits are undeniable.

New build properties in areas like Calpe, Javea, Benidorm, and Torrevieja offer modern amenities, energy-efficient construction, and strong rental yields — making them attractive both as primary residences and investment properties.

Frequently Asked Questions

Can I still get residency in Spain through property investment?

While the Golden Visa has ended, you can still obtain residency through other routes such as the Non-Lucrative Visa or Digital Nomad Visa. Property ownership in Spain is not a requirement for these visas but remains an excellent investment.

Is it still worth buying property on Costa Blanca without the Golden Visa?

Absolutely. The vast majority of international property buyers on Costa Blanca purchased for lifestyle and investment reasons, not solely for the visa. Property values continue to grow steadily, and rental demand remains strong.

How can Hansson & Hertzell help me with residency and property purchase?

Hansson & Hertzell provides comprehensive guidance on both property purchase and residency options. We work with trusted legal partners who specialise in Spanish immigration and can advise on the best route for your specific situation.

Get Expert Advice from Hansson & Hertzell

Hansson & Hertzell has been helping international buyers navigate the Costa Blanca property market for over 20 years. Whether you are looking for your dream home or a sound investment, our team of experts is here to guide you every step of the way.

Contact us today: +34 865 753 261 | info@hanssonhertzell.com

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