Spain Golden Visa for UK Nationals: Is It Still Worth It in 2026?

The Spain Golden Visa was one of the most popular routes to Spanish residency for wealthy foreign nationals, including British buyers. It offered residency in exchange for a qualifying investment, most commonly a property purchase of at least €500,000. For UK nationals after Brexit, it represented a faster and less bureaucratic path than the Non-Lucrative Visa.

In 2024, the Spanish government announced it was abolishing the Golden Visa property route. Understanding what this means in practice, and what the alternatives are, is essential if you were planning to use this route.

What the Spain Golden Visa Was

Introduced in 2013 as part of a package to attract foreign investment after the financial crisis, the Golden Visa (formally the Investor Visa) offered residency permits to non-EU nationals in exchange for:

• Property investment of at least €500,000 (the most popular route)
• Business investment of at least €1,000,000 in Spanish company shares
• Government bond purchases of at least €2,000,000
• Deposits of at least €1,000,000 in a Spanish financial institution
• Business creation that generates significant employment or has notable socioeconomic impact

The residency permit gave the right to live and work in Spain, travel freely within the Schengen Area, and include family members. After 5 years it could be converted to long-term residency, and after 10 years to Spanish nationality.

The key attraction over the NLV was that there was no income requirement and no restriction on working. You invested, you got residency.

The 2024 Abolition of the Property Route

In April 2024, Prime Minister Pedro Sanchez announced the end of the Golden Visa property route, citing concerns about housing affordability and the contribution of foreign investment property to price pressures in major cities.

The property-based route was formally closed in April 2025. Applications submitted before the closure date were processed under the old rules; new applications for property-based investor visas are no longer accepted.

The non-property investment routes (business investment, government bonds, bank deposits) were not abolished and remain available, though they see far fewer applicants given the higher thresholds.

What This Means for UK Buyers Planning to Move to Spain

If you were planning to buy a property in Spain worth €500,000 or more and use that as your route to residency, that route is closed.

You can still buy property in Spain without restriction. Property ownership does not give you residency. You will need a separate visa to establish residence.

For most UK nationals, the realistic alternatives are:

Non-Lucrative Visa (NLV): The main route for retirees and others with passive income. Requires demonstrating €2,400 per month income and comprehensive health insurance. No requirement to work in Spain.

Digital Nomad Visa (DNV): For remote workers employed by non-Spanish companies or freelancers with non-Spanish clients. Requires income of approximately €2,849 per month. Allows working for Spanish clients up to 20% of income.

Self-Employment Visa (Autónomo): For those planning to set up a business or work independently in Spain.

Highly Qualified Professional Visa: For those with a job offer from a Spanish employer meeting certain salary thresholds.

The Investment Routes That Remain Open

If you are a high-net-worth individual looking for investment-linked residency in Spain, the remaining routes are:

Business investment (€1,000,000+): Investment in Spanish company shares or existing business interests. This is assessed on a case-by-case basis and requires demonstrating genuine economic activity and employment impact. Not a passive route.

Government bonds (€2,000,000+): Investment in Spanish public debt. This route exists in law but has seen very few applications even when the property route was available.

Bank deposit (€1,000,000+): Deposit in a Spanish financial institution. Again, technically available but rarely used at this threshold.

For most people who were considering the Golden Visa, these thresholds are out of reach as alternatives to the €500,000 property route.

Portugal as an Alternative

Many UK nationals who were planning to use the Spain Golden Visa route are now looking at Portugal, which still has an investor visa programme (though its property route has also been modified). Portugal’s Golden Visa currently focuses on fund investments (minimum €500,000) rather than direct property purchase.

Portugal offers similar climate and cost-of-living advantages to Spain for retirees. The Non-Habitual Residence tax regime (now modified to the IFICI programme) also offered tax advantages for new residents, though these have changed.

If you were weighing Spain versus Portugal for an investment-linked residency route, the comparison has shifted significantly in Portugal’s favour at the current time.

Should You Still Buy Property in Spain?

Absolutely, if the property makes sense on its own terms. Tens of thousands of British nationals own property in Spain as a second home, holiday property, or investment without using it as a residency route.

You can spend up to 90 days in any 180-day period in Spain (and the wider Schengen Area) on a standard British passport without a visa. For a second home or regular holidays, this covers many people’s actual usage patterns.

If you want to live in Spain full-time, you need a visa separately from any property purchase. The NLV or DNV are the most accessible routes for most UK nationals.

Practical Implications for Property Buyers

If you are buying Spanish property and also want residency:

1. Do not assume property purchase gives you any residency rights. It does not, since the closure of the Golden Visa route.
2. Apply for your preferred visa separately, in parallel with any property purchase if timing requires it.
3. The NLV requires income evidence rather than asset evidence as the primary qualification. Owning a €500,000 property does not substitute for showing €2,400 per month in income.

Currency considerations for large property purchases remain important. A €500,000 property purchase involves a significant GBP/EUR conversion. The difference between using a bank and using a specialist currency broker or Wise can amount to thousands of pounds.

Compare currency exchange options for large Spain property purchases

Frequently Asked Questions

Is the Spain Golden Visa still available in 2026?
The property-based Golden Visa was closed in April 2025. Non-property investment routes (business investment, government bonds, bank deposits) remain technically available at higher thresholds.

Can I still buy property in Spain as a UK national?
Yes, property purchase by UK nationals is unrestricted. Property ownership does not confer residency rights following the closure of the Golden Visa route.

What is the best visa for a UK national buying a home in Spain to live in full-time?
The Non-Lucrative Visa is the most suitable option for retirees or those with passive income. The Digital Nomad Visa suits remote workers.

Has Spain replaced the Golden Visa with anything?
There is no direct replacement for the property-based investor visa at the current time. The Spanish government has indicated no plans to reinstate a property investment route.

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*See also: Spain Non-Lucrative Visa Guide | Spain Digital Nomad Visa 2026 | Currency Exchange for Spain Property Buyers*

*Affiliate disclosure: The currency exchange link in this article is an affiliate link.*