In April 2025, Spain repealed its Golden Visa entirely (Ley Orgánica 1/2025). Not reformed - repealed. Buying property in Spain now confers zero residency rights.
Yet most English-language guides still promise «residency through investment». They're outdated, and following them wastes months. Here's what actually applies in 2026.
What buying does and doesn't give you
Does: full ownership rights, same as a Spaniard. You can buy, live in it 90 days at a time (Schengen 90/180 rule), rent it out long-term.
Doesn't: residency, a visa, or any immigration advantage whatsoever.
The visa routes that actually work now
Non-Lucrative Visa - ~€2,400/month in passive income, no work allowed. The classic retiree route. Digital Nomad Visa - ~€2,849/month income (2026 threshold), remote work allowed. Entrepreneur Visa - survived the repeal, but needs an approved innovative project; a passive property purchase doesn't qualify. EU citizens: free movement, none of this applies.
We're not immigration lawyers and we don't improvise on visas, we refer you to one. Anyone who promises visa outcomes with a property purchase is selling you 2023.
The 2026 buying checklist
NIE: mandatory, obtainable via power of attorney - no trip to Spain needed. Taxes: 6% transfer tax on resale in Madrid; ~8–11% all-in on top of the price. New builds: 10% VAT + 0.75% stamp duty. Mortgage: non-residents get 60–70% LTV, ~20 years - plan 30–40% deposit plus ~10% costs in cash. Wealth tax: Madrid's 100% regional relief means effectively zero.
Bottom line
The Golden Visa era rewarded money. The 2026 era rewards information: knowing the true cost, the real street prices, and which visa actually fits. That's the game now.
What would YOUR flat really cost?
Free calculator with 2026 Madrid taxes. Then, if you want, we'll review your numbers personally - also free.