Spain Golden Visa in 2026: what is still open after the property closure

The Spanish government published the property-route closure in the BOE in early 2024, taking effect 3 April 2025. From that date no new Golden Visa applications can be made on the basis of property purchase. Existing holders are unaffected for the duration of their current authorisation.

The investment routes that remain in 2026:

• €1m in Spanish government bonds - the cleanest passive route
• €1m in a Spanish bank deposit - simple but yield-light
• €2m in publicly-traded Spanish shares - market risk but liquid
• €1m investment in Spanish equities funds - if Spanish-domiciled
• €1m business investment with job creation or significant economic impact

Pre-2023, the Golden Visa was the obvious choice for a higher-net-worth Brit because it was the only route that didn't require minimum stay in Spain (and so didn't trigger Spanish tax residency). The DNV changed that calculus.

The DNV gives you the same legal residency for a fraction of the capital commitment, IF you have qualifying income. The Golden Visa retains an advantage only for applicants who:

• Don't have qualifying remote work income
• Want minimum-stay residency (no 183-day Spain residency required)
• Have €1m+ that can be allocated to Spanish bonds or shares without strain

For this profile, the Golden Visa still works. For most others, the DNV is cleaner.

The Golden Visa famously has no minimum-stay requirement to maintain status. You must visit Spain at least once during the visa period (typically each 2-year renewal). That is the only physical-presence test.

This is what makes the Golden Visa attractive for HNW applicants who want Spanish residency as an option rather than as their permanent home. You can hold it, use it for travel and for the ability to relocate quickly, without becoming Spanish tax resident.

If you do spend 183+ days in Spain in a year, you become tax resident regardless of what your visa says. The minimum-stay rule is about visa status, not tax.

The Spanish government has signalled the Golden Visa scheme will be wound down entirely in the coming years, in line with broader EU pressure to phase out residence-by-investment programmes (the European Commission has been vocal on this since 2022).

For 2026, the remaining routes are open. The 5-year and 10-year horizon is unclear. If you're considering the Golden Visa, the question is whether you have a specific application reason that the DNV cannot satisfy.