The real estate investment route for the Spanish Golden Visa officially ended in 2025. You can no longer obtain Spanish residency simply by purchasing a €500,000 property. However, US citizens still have highly accessible and popular pathways to live in Mallorca, such as the Non-Lucrative Visa or the Digital Nomad Visa.
The Reality of the Golden Visa in 2026
For over a decade, the “Golden Visa” was the go-to solution for American buyers looking to secure European residency by buying a luxury home in the Balearic Islands. However, due to shifting political landscapes and a desire to ease pressure on the local housing market, the Spanish government officially eliminated the real estate investment option from the Golden Visa program in 2025.
If you are browsing international real estate websites and see agencies promising a Golden Visa with a €500,000 property purchase, they are providing outdated and incorrect information. Partnering with an agency that understands the current legal landscape is crucial to protecting your time and investment.
Does this mean Americans can no longer move to Spain?
Absolutely not. Spain remains one of the most welcoming countries in Europe for US expats, retirees, and remote workers. The end of the real estate Golden Visa simply means that residency and property ownership are now two separate processes. You can still buy your dream finca in Ses Salines, but your residency will be based on your financial stability rather than your property deed.
The Best Alternative Routes for US Buyers
Since the €500,000 property route is closed, American buyers are successfully using these highly effective alternatives to secure residency:
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The Non-Lucrative Visa (NLV): This is currently the most popular option for American retirees and high-net-worth individuals. It allows you to live in Spain full-time, provided you can prove you have sufficient passive income (such as pensions, dividends, or rental income) or significant savings to support yourself without taking a local job in Spain.
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The Digital Nomad Visa (DNV): Introduced recently, this is perfect for Americans who want to live in Mallorca while continuing to work remotely for a US-based employer or as a freelancer with international clients. It comes with highly favorable tax conditions designed to attract global talent.
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Financial Investment Visas: While the real estate portion of the Golden Visa was canceled, the law technically still allows for residency through massive capital transfers—specifically, investing €1 million in Spanish companies/funds or €2 million in Spanish government bonds. However, for most buyers, the NLV is a much more practical route.
A Real-World Example
Consider John and Sarah, a couple from Chicago. In 2024, they might have bought a €1.5 million villa in Santanyi to get the Golden Visa. Today, in 2026, they still buy the exact same €1.5 million villa because they love the lifestyle. But to live there year-round, they simply apply for the Non-Lucrative Visa using their US retirement accounts to prove financial solvency. The outcome—living the Mediterranean dream—is exactly the same.
The Villas y Fincas Mallorca Angle
We believe in total transparency. While we sell luxury real estate, we do not sell false immigration promises. At Villas y Fincas Mallorca, we work hand-in-hand with the island’s most prestigious immigration law firms. When you find your perfect property in the South East of Mallorca with us, our legal partners will seamlessly guide you through securing your Non-Lucrative or Digital Nomad visa so you can enjoy your new home without bureaucratic stress.
Disclaimer: The information provided is for educational purposes and does not constitute legal or immigration advice. Immigration laws change, and you should always consult with a qualified Spanish immigration lawyer.
Ready to explore your options in Mallorca? Contact Villas y Fincas Mallorca today to schedule a discovery call and learn more about our exclusive portfolio and legal network.
