Spanish Residency for Property Buyers in 2026: Golden Visa, Non-Lucrative Visa and Beckham Law Explained

Spain's Golden Visa — the investor residency scheme that allowed non-EU nationals to obtain a residence permit through real estate investment of €500,000 or more — has been the subject of considerable discussion. The Spanish government announced the closure of the real estate route in April 2024. Understanding what this means for buyers in 2026 requires some precision, and some broader context about what it was actually being used for.

The real estate investment route to the Golden Visa was closed to new applications from April 2024. Applications submitted before that date continued to be processed under the existing rules. The other routes — significant capital investment of €1 million or more in Spanish companies, investment funds, or bank deposits; qualifying business creation; and strategic investments approved by the government — remain available. The Golden Visa program as a whole has not ended. Only its most commonly used route has.

“The buyers who were primarily purchasing property in Spain were always doing so for reasons beyond the visa. The Golden Visa was a convenience, not the cause.”

The Non-Lucrative Visa (NLV) is now the primary route for non-EU nationals who want to live in Spain without working here. It requires demonstrating sufficient passive income or savings — typically understood as approximately €28,800 per year for an individual (the threshold adjusts annually), plus around €7,200 per dependant. The visa is valid for one year initially and renewable for two-year periods. After five years, permanent residency becomes available.

The Digital Nomad Visa, introduced in 2023, allows non-EU nationals who work remotely for non-Spanish employers or clients to live in Spain legally. Income requirements are similar to the NLV — at least 200% of Spain's minimum wage, currently approximately €2,640 per month — and the visa can be converted to a residence permit after the initial period. It is particularly well-suited to entrepreneurs and senior executives with international practices.

Formally known as the Ley Impatriados (Special Expat Tax Regime), the Beckham Law allows qualifying new residents to pay a flat 24% income tax rate on Spanish-sourced income (up to €600,000) for the first six years of residency, rather than the standard progressive rate of up to 47%. Foreign-sourced income is generally exempt. For high-earning individuals relocating from high-tax jurisdictions, the difference is significant and the regime is frequently a factor in the decision to choose Spain over Portugal or Italy as a base.

Eligibility requires that you have not been resident in Spain during the five years prior to your move, and that you move to Spain for qualifying employment or entrepreneurial reasons. Applications must be made within six months of establishing residence. The advice of a specialist Spanish tax lawyer is essential before relying on this regime — it is powerful but specific in its conditions.

The fundamentals of why people purchase property in southern Spain — the climate, the lifestyle, the infrastructure, the value relative to comparable European locations — are entirely unaffected by visa policy. The buyers who are primarily motivated by the place itself continue to arrive, in growing numbers, regardless of what the residency programme looks like.

For those for whom legal residency is a genuine requirement, the pathways exist and are navigable. The NLV and Digital Nomad Visa require more planning than the old property route, but they are real, established processes. The right specialist adviser makes them accessible. We work with immigration lawyers who understand both the legal requirements and the practical realities, and can make introductions where useful.