The Bernstein approximation problem is to determine whether or not the space of all polynomials is dense in a given weighted $C_0$-space on the real line. A theorem of L. de Branges characterizes non-density by existence of an entire function of Krein class being related with the weight in a certain way. An analogous result holds true for weighted sup-norm approximation by entire functions of exponential type. We consider approximation in weighted $C_0$-spaces by functions belonging to a prescribed subspace of entire functions which is solely assumed to be invariant under division of zeros and passing from $F(z)$ to $\bar{F(\bar z)}$, and establish the precise analogue of de Branges' theorem.