For over a decade, Spain’s Golden Visa has been a key route for non-EU investors to obtain residency through real estate investment. In areas such as Marbella, Málaga, Benahavís and the Costa del Sol, the programme significantly contributed to attracting international capital.
However, from 3 April 2025, the legal framework changes:
👉 The Golden Visa based on property investment is abolished.
This impacts buyers who used to obtain residency by purchasing real estate worth over €500,000 — a common scenario in high-end markets like Marbella and the Costa del Sol.
What exactly changes from April 2025?
- No new applications through real estate investment.
- Existing Golden Visas remain valid.
- Renewals continue under a transitional regime.
What happens to current Golden Visa holders?
- You can still renew your residence permit.
- You can bring your family.
- You can live, work and invest in Spain.
However, authorities are applying stricter requirements, particularly regarding proof of investment and financial means.
Real Alternatives to the Golden Visa for 2025 and Beyond
1. Entrepreneur Residence Permit (Startups and Innovative Projects)
One of the strongest routes for foreign investors and entrepreneurs developing innovative or technological projects.
Essential Requirements
• Innovative project or one with economic impact.
• Viability report issued by ENISA or the UGE.
Duration
• Initial 3-year permit, renewable for 2-year periods.
Advantages
• Allows you to live and work in Spain.
• Possibility to include family members.
• Fast-track processing through the Large Companies Unit (Unidad de Grandes Empresas).
• Compatible with international corporate structures.
2. Digital Nomad Visa (highly in demand in Málaga and Marbella)
Spain has become a top destination for remote workers and international professionals.
Basic Requirements
• Employment with a foreign company or freelance activity for clients outside Spain.
• Monthly income starting at approx. €2,200.
• Accredited professional experience or qualifications.
Duration
• Initial 1-year visa, convertible into a 3-year residence permit.
Advantages
• Allows legal residence in Spain.
• Possible access to the special tax regime under the Startups Law.
• Ideal for those wishing to reside in Marbella or Málaga without relying on a real estate investment.
3. Non-Lucrative Residence (ideal for those who wish to live in Spain without working)
Designed for individuals with sufficient financial means who want to establish residence in Spain without engaging in employment.
Requirements
• Sufficient financial means (approx. €30,000 annually for the main applicant).
• Private health insurance.
• Commitment not to carry out any work activity in Spain.
Duration
• Initial residence for 1 year, renewable for 2 years, and later for another 2 years.
Perfect for those seeking long-term residence on the Costa del Sol.
4. Residence through Investment in Spanish Companies
Although the real estate route is ending, business investment remains a valid option in certain scenarios.
The authorities assess:
• Shareholdings in real, active Spanish companies.
• Projects that create employment.
• Investments with verifiable economic impact.
This is not an automatic route, and it requires proper legal and tax structuring.
5. The Key in 2025: Tailored Legal and Tax Planning
The new landscape requires:
• ✔ Designing a migration strategy tailored to the investor’s profile.
• ✔ Coordinating immigration matters, international taxation, and corporate law.
• ✔ Anticipating administrative requirements.
• ✔ Choosing the most suitable residence route based on goals and net worth.
The era of standard solutions is over.
Today, having experts in Marbella and Málaga is essential.
🌍 IS THIS THE END OF FOREIGN INVESTMENT IN SPAIN? NO. IT IS THE BEGINNING OF A NEW ERA.
Spain remains a European leader in:
• International investment
• Luxury real estate
• Digital entrepreneurship
• High-net-worth relocation
The appeal of Marbella, Málaga, and the entire Costa del Sol remains intact.
What changes is the legal pathway to obtaining residence.
⚖️ HOW CPG ABOGADOS CAN HELP YOU
At CPG Abogados, we analyse your situation strategically and personally, assessing:
• Your investor profile
• Your asset structure
• Your personal and business objectives
• Your international tax situation
• The real pathways available to obtain residence in Spain
We design the most solid and secure legal strategy, increasing the probability of success and protecting your investment.
