A Guide to Spanish Residence and Property Investment: The Post-Golden Visa Era

With Organic Law 1/2025, which came into force on 3 April 2025, Spain officially ended the property-investment-based residence scheme known as the "Golden Visa". This fundamental change makes it essential for investors who wanted to obtain residence in return for a €500,000 property investment to rethink their strategies.

But the abolition of residence through property does not mean that the doors to Spain have closed. The Spanish government has moved to a new model that prioritises "active talent" and "productive entrepreneurship" over "passive capital". In this guide, we look in detail at the most suitable and sustainable Spanish residence alternatives.

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1. The New Legal Framework: What Has Changed?

According to statements by Spain's Ministry of Housing and Urban Agenda, the abolition of property-investment-based residence permits is part of a strategy to curb speculative investment. This regulation, which became law following a report submitted to the Council of Ministers in April 2024, repealed the "property" provision in the investors section of Law 14/2013.

The Dual Immigration Regime

In Spain, the law on foreigners runs along two main axes:

Regime	Legal Basis	Features	Scope
The General Regime	Organic Law 4/2000	Classic rules, a long bureaucratic process	Non-Lucrative Residence, Self-Employment
The Entrepreneurs' Law	Law 14/2013	A fast process (20 days), administrative silence = approval	Digital Nomad, Entrepreneur Visa

Understanding this distinction is critically important to managing the application processes correctly. Procedures under the Entrepreneurs' Law are handled by the Large Companies and Strategic Collectives Unit (UGE) and are resolved much more quickly.

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2. The Strongest Alternative: The Digital Nomad Visa

For professionals and remote workers, the strongest alternative to the property visa is the Digital Nomad Visa (officially the International Teleworking Visa — Visado de Nómada Digital). This visa grants residence to people who, while living in Spain, provide remote services to companies outside Spain.

Who Can Apply?

According to data from Spain's Ministry of Foreign Affairs and its consulates, this visa type covers two main categories:

• Employee (Salaried Staff): those who have an employment contract only with companies outside Spain
• Self-Employed (Freelancer): those who can prove that more than 80% of their income comes from outside Spain (up to 20% of services can be provided to clients within Spain)

The Advantage of a Social Security Agreement

One of the most critical and advantageous aspects of this visa type comes into play when there is a Social Security Agreement between your country of origin and Spain. As noted by Spain's social security body (Seguridad Social), the importation of rights from the country of origin is possible under such an international agreement. Spain has these agreements with a large number of countries (including EU members and many third countries); it is advisable to check whether your own country has one with Spain before applying.

The Practical Results:

1. A Cost Advantage: if a temporary-posting certificate can be obtained from your country's social security body, high social security contributions are not paid in Spain
2. Pension Continuity: the pension contribution days in your country of origin continue to accrue without interruption
3. The Procedure: Spain's social security body recognises the forms under the bilateral agreement with your country

If such a certificate cannot be obtained, the applicant has to register in Spain as a Self-Employed person (Autónomo) under the RETA system.

The Qualification Requirements

Unlike the property visa, the digital nomad visa is merit-based. According to the UGE criteria, the applicant must prove one of the following:

• A degree certificate from recognised universities, vocational colleges or business schools (university diplomas obtained abroad must be certified with the Hague Apostille)
• Or at least 3 years of professional experience

The Financial Requirements

The applicant's economic sufficiency is calculated on the basis of Spain's minimum wage (SMI). For 2025, the SMI was set at €1,184 a month (14 payments), or €16,576 a year. For the teleworking visa, income equivalent to 200% of the SMI is usually required.

Criterion	Requirement
Monthly income	around €2,368 (200% of the SMI)
Professional experience	3 years or a university degree
Health insurance	full private cover
Criminal record	clean (last 5 years)

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3. The Non-Lucrative Visa (Residencia No Lucrativa, NLV)

For those who want to live in Spain without investing, using only their existing assets and passive income, the Residencia No Lucrativa (NLV) is the most suitable option. This type of permit prohibits working in Spain but is ideal for retirees or people of high net worth.

The Work Ban and the Lifestyle

According to Spanish Ministry of Foreign Affairs sources, the person must prove "periodic income not arising from a work activity" or "sufficient assets". This can be rental income, dividends, interest income or pensions.

Economic Sufficiency: The IPREM 2025 Criteria

For this visa type, economic sufficiency is calculated on the basis of the IPREM index (Indicador Público de Renta de Efectos Múltiples). For 2025, the IPREM value has been frozen and remains at 2023 levels.

2025 IPREM Values:

• Monthly: €600.00
• Annual (12 payments): €7,200.00

Under the regulations, the applicant must prove 400% of the monthly IPREM for themselves, and 100% for each family member.

Family Make-Up	Monthly Requirement	Monthly Amount (€)	Annual Amount (€)
Single Person	400% IPREM	2,400	28,800
Couple (2 People)	400% + 100%	3,000	36,000
Couple + 1 Child	400% + 200%	3,600	43,200
Couple + 2 Children	400% + 300%	4,200	50,400

The Spanish consulates ask for bank statements or proof of income showing that these amounts are sustainable not just for one year but throughout the period of residence.

Health Insurance and Other Requirements

Because the applicant will not have access to Spain's National Health System, it is compulsory to take out full private health insurance with no co-payment (copago) from an insurance company operating in Spain. In addition, a criminal record certificate from the countries of residence over the last 5 years must be provided.

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4. The Entrepreneur Visa (Visado de Emprendedor)

For those who have not just capital but an innovative business idea, the Entrepreneur Visa under Law 14/2013 is a fast and prestigious option.

The "Innovative" Criterion and the ENISA Report

This visa is not for opening an ordinary business (such as a restaurant or a shop). Under the law, the project must "be of public interest" and "have an innovative character". The assessment of this quality is carried out by ENISA (Empresa Nacional de Innovación).

This visa cannot be obtained without ENISA's favourable report (Informe Favorable). The assessment criteria:

1. The Business Model: must be scalable and have growth potential
2. Innovation: must contain elements in the product, service or processes that differ from what already exists in the market
3. The Team: the entrepreneur and their team must have the competence to carry out the project

The Advantages of the Process

• Administrative Silence (Silencio Positivo): on applications made to the UGE, if the administration does not respond within the legal period (usually 10–20 working days), the application is deemed approved
• Family Reunification: the spouse and children can obtain a visa at the same time as the applicant and have the right to work
• Mobility: it grants the right to move and work freely within Spain

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5. The Self-Employment Permit (Cuenta Propia)

If the business idea does not fall into the "innovative" category (traditional trade, the service sector and so on), applicants should apply for the Self-Employment Residence and Work Permit under the General Regime.

The Difficulties and Requirements

This route is more laborious than the Entrepreneur Visa:

1. Proof of Investment: you must prove that the capital needed to set up the business is already available
2. A Feasibility Report: a business plan approved by the professional bodies in Spain (ATA, UPTA and so on) must be submitted
3. Regional Restriction: the first permit granted may be limited to a specific geographic area (a province or autonomous region) and sector
4. Administrative Silence (Silencio Negativo): if the application is not responded to within 3 months, it is deemed rejected

The Two-Stage Application Process

The process begins at the Spanish consulate in your country of residence but requires the approval of the Immigration Office (Oficina de Extranjería) in Spain:

1. Stage 1: an application for a temporary residence and work permit is made
2. Stage 2: once the permit is approved, the visa application is made within 1 month and the fees are paid. After obtaining the visa, you enter Spain and register with the social security system to obtain your card (TIE)

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6. A Comparative Analysis Table

A comparison of the options in terms of cost, rights and process:

Feature	Digital Nomad	Entrepreneur	Non-Lucrative	Self-Employment
Target Audience	Remote workers, freelancers	Technology, start-up founders	Retirees, those with passive income	Traditional business owners
Right to Work	Yes (remote). 20% limit to local firms	Yes (unlimited)	NO	Yes (only in their own business)
Min. Income/Investment	around €2,368/month	Capital + means of subsistence	€2,400/month	Business set-up capital
Application Body	UGE or consulate	UGE or consulate	Consulate only	Consulate only
Decision Time	around 20 days	around 20–30 days	around 3 months	around 3–4 months
Administrative Silence	Positive (approval)	Positive (approval)	Negative (rejection)	Negative (rejection)
Social Security	Exemption possible under an applicable agreement	Spanish RETA registration required	Private health insurance required	Spanish RETA registration required

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7. The Operational Roadmap

The steps to follow for a successful application in Spain's new era:

The Preparation Stage: Legalising Documents

The Spanish authorities require two basic conditions for the validity of official documents obtained in your country of origin:

1. The Hague Apostille (Apostilla de La Haya): Most countries are parties to the Hague Convention. Civil registry extracts, criminal records, diplomas and court decisions must be certified with the Apostille by the competent authorities in your country (in countries that are not party to the Hague Convention, consular legalisation is required instead)
2. A Sworn Translation: the documents must be translated into Spanish, preferably by consulate-approved translators or by sworn translators in Spain (Traductor Jurado)

The Appointment and Application Process

The application is made through the Spanish consulate or embassy in your country of residence. Appointments must usually be made in person and the relevant consular procedures followed.

The Nuances of Family Reunification

• The Entrepreneurs' Law (14/2013): the spouse and children can apply at the same time as the applicant
• The General Regime (Non-Lucrative): a simultaneous application is possible, but additional financial resources (100% of IPREM) must be proved for each family member
• The General Regime (Work): usually, the applicant can carry out family reunification after residing for 1 year and renewing their permit

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Cost Summary

Visa Type	Application Fee	Monthly Income Requirement	Additional Costs
Digital Nomad	around €80	€2,368	Health insurance, translation
Entrepreneur	around €80	Variable	ENISA report, health insurance
Non-Lucrative	around €80	€2,400	Health insurance, translation
Self-Employment	around €80	Variable	Feasibility report, translation

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Process Timeline

Step	Digital Nomad	Entrepreneur	Non-Lucrative	Self-Employment
Document preparation	2–4 weeks	4–8 weeks	2–4 weeks	4–6 weeks
Application	1 week	1 week	1 week	1 week
Decision time	2–3 weeks	3–4 weeks	8–12 weeks	12–16 weeks
TIE card	2–4 weeks	2–4 weeks	2–4 weeks	2–4 weeks
TOTAL	7–12 weeks	10–17 weeks	13–21 weeks	19–27 weeks

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Practical Tips

1. The Social Security Agreement: if there is a social security agreement between your country and Spain, be sure to look into obtaining a temporary-posting certificate from your country's social security body for the digital nomad visa — it can save you from paying high contributions in Spain
2. Document Preparation: start the Apostille procedures at least 1 month before applying; the District Governor's offices can get busy
3. Health Insurance: research in advance the insurance companies operating in Spain that have no co-payment (copago)
4. Bank Statements: prepare at least 12 months of bank statements and show your sustainable income clearly
5. The UGE Advantage: on visas under the Entrepreneurs' Law, administrative silence works in your favour — if no response comes within 20 days, your application is deemed approved

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Frequently Asked Questions

Q: Has the Golden Visa been abolished completely? A: Yes, as of 3 April 2025, the property-investment-based residence scheme officially ended. But there are other alternatives for those investing more than €500,000.

Q: Do I need to own property in Spain for the digital nomad visa? A: No, there is no property requirement. A rented home address is sufficient. What matters is meeting the income requirement (200% of the SMI).

Q: Can I work with the Non-Lucrative Visa? A: No, with this visa type, any paid or self-employed work in Spain is prohibited. You have to live on passive income only.

Q: Can I bring my family members with me? A: Yes, but the procedure varies by visa type. While a simultaneous application is possible under the Entrepreneurs' Law, under the General Regime you may need to wait 1 year.

Q: Is a university diploma obtained abroad accepted? A: Yes, but it must be certified with the Hague Apostille and have a sworn translation into Spanish.

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Conclusion

Spain's abolition of the Golden Visa scheme is not an "end" but a "turning point" towards qualified immigration. The era of easy residence based on property speculation has closed, giving way to an era of digital competence, innovation and sustainable financial sufficiency.

In the current climate, the most strategic route for many applicants is the Digital Nomad Visa, thanks to the financial advantages that social security agreements (where one exists between your country and Spain) can bring, and its flexible working options. For individuals with a high level of accumulated capital but who are not thinking of working actively, the Non-Lucrative Residence retains its financial accessibility, with the IPREM values remaining frozen in 2025.

In both cases, the key to success is choosing the right category, preparing the documents (especially financial and academic ones) to international standards (Apostille/Sworn Translation), and managing the application process with a command of the "silence" principles of Spanish administrative law.

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With Mi Casa Europa, you can apply for residence, set up a business or invest in property with confidence in the UK and Spain (and soon in Italy). For any questions, you can reach us through our contact page.