No. Spain has fully abolished its Golden Visa. Ley Orgánica 1/2025, in force since 3 April 2025, repealed articles 63 to 67 of Ley 14/2013, ending residency-by-investment through property — and through every other qualifying investment as well. Existing Golden Visa holders keep and can still renew their permits, but no new application is possible. Buying property in Marbella remains 100% open to any foreigner, but it no longer opens any right of residence whatsoever. This is the number-one point to correct before you buy.
What Ley Orgánica 1/2025 actually did
For a decade, Ley 14/2013 let non-EU buyers who spent 500,000 euros or more on Spanish real estate obtain an investor residence permit — the 'Golden Visa'. Ley Orgánica 1/2025 repealed articles 63 to 67 of that law, and the abolition took effect on 3 April 2025. It is not a tightening or a higher threshold: the entire scheme is gone, including the property route and the other qualifying routes (public debt, shares, bank deposits, business projects).
The repeal is not retroactive against existing holders. If you already hold a Golden Visa, it stays valid and can be renewed under the transitional rules. But from 3 April 2025 onward, no new investor residence permit can be granted, whatever the amount invested.
Buying is still free — it just gives no residency
This is the key distinction. Spain places no restriction on a foreigner (EU or non-EU) buying property in Marbella: you can purchase a villa on the Golden Mile or an apartment in Puerto Banús exactly as before. What has changed is the immigration consequence — there is none. Ownership no longer feeds any residence application.
If living in Spain matters to you, residency now runs on a completely separate track (non-lucrative visa, digital-nomad visa, Beckham-law regime for the tax side). Treat the purchase and the residency question as two separate projects, and confirm both with a Spanish immigration lawyer for your specific situation before committing.
Sources
Primary and expert sources behind this answer:
- BOE — Ley Orgánica 1/2025 (repeal of the Spanish Golden Visa, in force 3 April 2025) ↗
- Ministerio de Asuntos Exteriores — Spanish visas (Non-Lucrative Visa, Digital Nomad Visa) ↗
- Agencia Tributaria — Spanish tax authority (IRNR, imputed income, Modelo 210/211, ISGF) ↗
This page is general information, not legal or tax advice. Spanish property tax, residency and letting rules are complex, regional and change frequently; every figure and rule here must be confirmed with a Spanish abogado (lawyer), a fiscal adviser (asesor fiscal) or a notary for your specific situation before you act.
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