What has happened to the Golden Visa in Spain?
For over a decade, the Spanish Golden Visa was the most direct path for foreign investors to obtain residency in Spain. The formula was simple: a minimum investment of €500,000 in real estate, and in return, a residency permit for the investor and their family, with minimal physical presence requirements.
That model is over.
The political debate around the Golden Visa’s impact on the real estate market — particularly in cities like Madrid, Barcelona, and the Balearic Islands — led the Spanish government to announce the programme’s elimination. The message is clear: residency through passive real estate investment is no longer a priority in Spanish migration policy.
For many international investors who had Spain on their radar, this raises an immediate question: what options remain?
The answer is that the alternatives not only exist, but in many cases are better suited to the profiles that genuinely want to build a life, business, or wealth in Spain. What has changed is the approach: from passive investment to active engagement with the Spanish economy.
Why the Golden Visa is no longer the answer
Before analysing the alternatives, it’s worth understanding what profile actually used the Golden Visa and why that profile can find equally valid — or superior — routes in the new landscape.
The typical Golden Visa applicant was looking for three things: legal residency in Spain, access to the Schengen Area, and, on the horizon, the possibility of obtaining Spanish nationality. The real estate investment was the vehicle, not the goal.
Those three objectives remain completely achievable in 2026. What changes is the path to reach them.
The 4 real alternatives to the Golden Visa in Spain
1. Entrepreneur Visa
The Entrepreneur Visa is designed for foreign nationals who want to create or develop a business project in Spain with demonstrable economic impact. This isn’t about setting up just any business: the Spanish authorities assess whether the project is innovative, whether it has job-creation potential, and whether it adds value to the country’s economy.
What is required?
The core requirement is obtaining a favourable report from an accredited body — such as ENISA (National Innovation Company) or certain regional bodies — validating the project. This report assesses the business’s viability, its innovative nature, and its potential economic impact.
The applicant must also demonstrate sufficient financial means to support themselves during the initial period and have no criminal record in the countries where they have previously resided.
Who is it suited for?
Startup founders looking to establish their company in Spain, tech entrepreneurs with scalable business models, or business owners wanting to expand their operations into Europe using Spain as a base.
Key advantage: once granted, the Entrepreneur Visa allows self-employment in Spain, family reunification, and the accumulation of residency time towards permanent residency and nationality.
2. Intra-Company Transfer (Executive Relocation)
For executive profiles who are part of a multinational corporate structure, the intra-company transfer permit is one of the most efficient routes to obtaining residency and a work permit in Spain.
This permit allows a company established outside Spain to relocate a manager, specialist, or trainee to a subsidiary, branch, or group company in Spanish territory. The process is relatively straightforward and, when properly managed, can be completed within very competitive timeframes.
What is required?
The originating company must have employed the worker for at least three months prior to the transfer. The position in Spain must correspond to a managerial, highly specialised technical, or corporate training role.
Key advantage: this permit is fully compatible with the Beckham Law — the special tax regime for inbound workers that allows taxation at a flat rate of 24% on the first €600,000 of income for up to six years. For executives with high earnings, combining this permit with the Beckham Law represents a significant tax saving.
3. Digital Nomad Visa
The Spanish Digital Nomad Visa, introduced under the Startups Act, is the most accessible route for international professionals who work remotely for companies or clients based outside Spain.
By 2026, this visa has established itself as one of the most in-demand routes — but also one of the most demanding in terms of documentation. Requirements have tightened and the margin for incomplete or inconsistent applications is practically zero.
What is required?
The applicant must demonstrate income of at least 200% of the current Spanish Minimum Interprofessional Wage, prove that their work can be performed remotely, and that their employer or clients are based outside Spanish territory. For employed workers, the employer company must also have been in operation for at least one year.
Key advantage: this visa is also compatible with the Beckham Law under certain conditions set out in the Startups Act, making it a particularly powerful tax optimisation tool for digital nomads with mid-to-high incomes.
Important note: in 2026, a specific restrictive criterion has emerged for shareholder-directors of their own companies applying for this visa. If this applies to you, your application requires a specific legal strategy.
4. EU Blue Card
The European Union Blue Card is one of the least known but most powerful routes for highly qualified professionals in salaried employment. It grants residency and the right to work in Spain with additional advantages not provided by a standard work permit.
What is required?
The applicant must have a job offer or signed contract in Spain, hold a higher university degree or equivalent professional experience of at least five years in the relevant field, and the contract salary must be equal to or greater than 1.5 times the average wage in Spain.
Key advantage: the EU Blue Card grants intra-European mobility: after 18 months of residency in Spain under this card, the holder can relocate to work in another EU member state through a simplified process. For executives and professionals with a European career horizon, this advantage is particularly relevant.
Which alternative is right for your profile?
The answer depends on several factors that must be analysed together: your current employment situation, whether you are self-employed or in salaried employment, your income level, whether or not you have a corporate structure, your short- and long-term tax objectives, and your timeline towards permanent residency or Spanish nationality.
A common mistake is choosing the path of least apparent resistance without considering how it interacts with tax planning or with the timeframes for accumulating legal residency. Every decision made at the outset has consequences that extend years ahead.
The table below summarises the key aspects of each alternative:
| Alternative | Ideal profile | Compatible with Beckham Law | Indicative timeline |
|---|---|---|---|
| Entrepreneur Visa | Founders, business owners | Yes | 3–6 months |
| Intra-Company Transfer | Executives in multinationals | Yes | 2–4 months |
| Digital Nomad Visa | Remote workers | Yes (conditions) | 2–5 months |
| EU Blue Card | Qualified professionals with a contract | Not directly | 2–4 months |
The factor most people overlook: tax planning from day one
One of the most costly mistakes made by international investors and professionals when planning their move to Spain is separating their migration strategy from their tax strategy.
The Beckham Law, for example, has a critical six-month deadline from the date of Social Security registration to submit the application to access the regime. Anyone who is unaware of this deadline, or manages it too late, loses access to a regime that can represent tens of thousands of euros in annual tax savings over six years.
Similarly, the type of permit chosen determines how years of legal residency are calculated, which in turn affects access to permanent residency and, further down the line, Spanish nationality.
At Carbray International, we work in an integrated way: the migration strategy and tax planning are designed together from the very first moment, because they are two sides of the same process.
Conclusion: the end of the Golden Visa does not close Spain to investors
The elimination of the real estate Golden Visa in Spain does not mean Spain has closed its doors to international investors and professionals. It means that access to Spanish residency now requires a more direct connection with the country’s economy — whether through a business, a job, a remote professional activity, or a highly qualified profile.
For those willing to take that step, Spain remains one of Europe’s most attractive destinations: an exceptional quality of life, world-class infrastructure, access to the Schengen Area, one of the continent’s most competitive special tax regimes, and a route to European citizenship that, when properly planned, is perfectly achievable.
The key is choosing the right route from the start and building the application with legal rigour.
Want to find out which alternative best fits your situation?
At Carbray International, we analyse your profile on a personalised basis and propose the most suitable residency strategy, integrating migration and tax planning from day one.
👉 Contact our team for an initial consultation.
This article is for informational purposes only and does not constitute legal advice. Immigration regulations may be subject to change. For personalised guidance, please consult a specialist lawyer.