Investment approach
Spanish Residency for Investors After the Golden Visa Ended
Buying property or putting 1 M€ into shares no longer gives residency: articles 63–67 of Ley 14/2013 are empty since 3 April 2025. General routes remain; none depends on the amount invested.
Since 3 April 2025 it is no longer possible to get a residence permit in Spain for investing in property, shares or deposits: articles 63–67 of Ley 14/2013 have been stripped of content. What remains are general routes not tied to the amount invested: residencia no lucrativa (non-lucrative residence, no right to work), the entrepreneur permit through ENISA, the remote-work permit and the permit for highly qualified professionals. An apartment or a stake in an SL gives no status.
What was abolished and what remains for those who were in time
Ley Orgánica 1/2025, disposición final 21 (final provision 21), emptied articles 63–67 of Ley 14/2013: the investor visa, the ways of proving the investment and the permits themselves. The effect dates from 3 April 2025. The abolition itself is covered in the article on the golden visa; this one deals only with what is left after it.
The same disposición final 21 added two transitional rules to Ley 14/2013. Anyone who applied before the entry-into-force date gets the visa or permit under the old rules. Existing permits stay valid for the period they were issued for, and renewals are assessed under the rules in force on the date of the first permit. There are no new applications on this route.
Which routes remain
Checked against the consolidated texts of Ley 14/2013 and the Reglamento de Extranjería (RD 1155/2024) as of 12 October 2026.
| Route | Legal basis | What it requires | Where the limit for an investor lies |
|---|---|---|---|
| Residencia temporal no lucrativa (temporary non-lucrative residence) | RD 1155/2024, arts. 61–62 | Funds: 400% of IPREM per month for the applicant and 100% for each family member; seguro de enfermedad (health insurance); clean criminal record | No right to work; the first permit is for 1 year |
| Entrepreneur permit | Ley 14/2013, arts. 69–70 | Innovative activity and/or activity of special interest for Spain; a positive ENISA report; a business plan | 3-year term; an ordinary property purchase and resale does not automatically fit the definition |
| Remote work from abroad | Ley 14/2013, art. 74 bis | Working remotely for companies outside Spain | For professional activity, Spanish clients may not exceed 20% |
| Highly qualified professional | Ley 14/2013, art. 71 | An employer company in Spain | Has nothing to do with investors |
Why buying property changes nothing
Without a permit, a non-EU national stays in Spain under the short-stay rules: no more than 90 days in any 180-day period (art. 6 of the Schengen Borders Code, Reglamento (UE) 2016/399). Owning an apartment, a plot or a stake in an SL does not extend that period.
There is a separate trap with no lucrativa. Under article 61 of the Reglamento, it is the status of people allowed to live in Spain without employment or professional activity. Article 62.3 of the Reglamento speaks directly to company owners: if the funds come from shares or stakes in Spanish companies, the applicant confirms by a certificate that they carry out no work activity in them, and files a declaración responsable (sworn statement). A paid administrator position in your own SL may not fit within that frame. How a particular Extranjería office (immigration office) reads this, I do not know, which is why it is the first line in the list of questions below.
Worked example: how much money a family has to show
Worked example, not a forecast. A couple with two children applies for no lucrativa. Under article 62 of the Reglamento, the calculation is 400% of IPREM for the applicant plus 100% for each of the three family members: 4 + 3 = 7 IPREM per month. The total must cover the period of the permit (art. 62.2), so for the first year that is 84 IPREM.
The IPREM (the public income index used as a benchmark) has not been separately approved for 2026: the 2026 budget law has not been published in the BOE (checked on 12 October 2026), and the value from disposición adicional 90 of Ley 31/2022 applies, €600 per month. The family then needs 7 × 600 = €4,200 per month, or 84 × 600 = €50,400 for the first year. Check the IPREM value in the BOE on the filing date: a new budget or a decreto-ley will change it.
Questions for an abogado de extranjería (immigration lawyer)
- Whether SL dividends or project profit are compatible with no lucrativa and whether they count as activity.
- Whether you can be an unpaid administrador of your own company.
- Whether a property resale project fits the definition of actividad emprendedora (entrepreneurial activity), or a different business plan is needed.
- How the status you apply for fits with tax residence: this is a separate calculation, start with the tax map and the article on the Beckham regime.
This article is not for anyone who needs a ready-made route for a specific passport and family. That is the work of an immigration lawyer, and I do not replace it. The document you almost always need for a deal before any residency is the NIE. The next step on a project, once the status question is settled: investor roadmaps.
Questions and answers
Can I get residency in Spain for buying property in 2026?
No. Articles 63–67 of Ley 14/2013 have been empty since 3 April 2025, and no new applications on the investor route are accepted.
If I got a golden visa before 2025, is it still valid?
Yes, for the period it was issued for, and renewal follows the rules in force on the date of the first permit (disposición transitoria segunda).
Does investing 1 M€ in shares or an SL give a right to residency?
No. That option was in article 63, which is now empty. A stake in an SL creates no immigration rights by itself.
Can I work on a residencia no lucrativa?
No, by definition in article 61 of the Reglamento. Working requires a different type of permit.
