Spain Eliminated the Golden Visa in April 2025

The Spanish Golden Visa, also known as the Investor Visa, was introduced in 2013 as part of the Spanish government’s effort to drive economic growth and attract foreign investment. Applicants can obtain residency in Spain by investing at least €500,000 in Spanish real estate or at least €1 million in shares of Spanish companies (among other investments).

The Golden Visa doesn’t automatically grant investors Spanish citizenship. Rather, applicants who hold a Spanish Golden Visa and have been residents of Spain for ten years may be eligible to apply for citizenship.

However, the Spain Golden Visa ended on 3 April 2025.  In this article, we’ll examine how Spain’s Golden Visa will work after its ending.

Current Golden Visa Regulations

The Spanish Investor Visa program offers qualifying individuals a renewable, temporary residence permit in exchange for their investment in the country.

Eligible investments include purchasing real estate, investing in Spanish companies, contributing to funds or bank deposits, creating employment opportunities, or making a qualifying investment in government bonds.

These include an investment of at least €500,000 in Spanish real estate, at least €1 million in shares of Spanish companies, invest €1 million on a bank deposit or investment fund, or € 2 million in Spanish treasury bonds.

Upon approval of the Golden Visa, you will be granted an initial Spanish residence permit for one year or two years if you visit Spain. This temporary residence permit can be renewed every five years. After residing in the country for five years, you can obtain permanent residency.

Proposed Elimination of the Golden Visa Spain

While the scheme has been somewhat successful, Prime Minister Pedro Sánchez unveiled a proposal in July 2024 that would see the elimination of the country’s Golden Visa.

According to the draft amendment to the Organic Law Project, the scrapping of the visa stems from almost all Golden Visa investments being made through the real estate option. This creates pressure on the local housing market, putting many properties out of reach of citizens.

During the amendment proposal submitted to the Spanish Congress, Sánchez said the decision was made to make affordable housing “a right instead of a speculative business.” He added, “Today, 94 out of every 100 such visas are linked to real estate investment…in major cities facing a highly stressed market and where it’s almost impossible to find decent housing for those who already live, work, and pay their taxes there.”

The Spain Golden Visa program officially ended on April 3, 2025. However, applications submitted before this date will still be processed under the existing rules, ensuring that investors and their families retain all benefits and renewal rights.

Existing Golden Visa holders will remain unaffected and will continue to enjoy their residency rights.

Spain’s decision follows similar moves by other EU countries, including Portugal, Ireland, and the Netherlands, which have also restricted or discontinued their Golden Visa programs.

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Frequently Asked Questions About Spain's Golden Visa

What is the golden visa program in Spain?

The golden visa program in Spain, introduced in 2013, grants residency to non-EU nationals who make significant financial investments in the country. This includes purchasing real estate worth over €500,000, investing €1 million in Spanish companies, or depositing €1 million in a Spanish bank account​.

Why is Spain planning to scrap the golden visa program?

The Spanish government ended the Spain Golden Visa on 3 April 2025. Investors and family members who submitted applications before the April deadline will remain unaffected. They will retain all benefits and renewal rights under the program’s current rules. Existing Golden Visa holders will also maintain their rights. 

When will the golden visa program be terminated?

After 3 April 2025, applying for the Spain Golden Visa will no longer be possible. However, investors who submit their applications before the April deadline will not be affected.

How will the termination of the golden visa affect current visa holders? 

It is confirmed that investors and family members who submit their applications before the April deadline will not be affected and will maintain all benefits and renewal rights under the current program rules.
Current golden visa holders will also retain their rights.