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, proposed amendments to the investment scheme will scrap it entirely in 2025. In this article, we’ll examine how Spain’s Golden Visa works and what the Spanish government’s plans are for the future.
⚠️ Spain Golden Visa Ending: January 2025 Update
The law terminating Spain’s Golden Visa program was published on January 3, 2025.
It will take effect three months later, on April 3, 2025. After this date, new applications for the Spanish Golden Visa will no longer be accepted.
Protection for Existing and Pending Applications
Investors and family members who submit 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.
Act Now: A Limited-Time Opportunity
If you are considering applying for the Spanish Golden Visa, immediate action is essential. The program is still open for applicants investing through bank deposits, commercial real estate, or hotel projects.
The Global Citizen Solutions team can expedite your application to ensure submission before the changes take effect.
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.”
On January 3rd, 2025, the law ending the Golden Visa program in Spain was published.
From April 3rd, 2025 it will no longer be possible to apply for the Spain Golden Visa. However, 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. If you are considering applying for the Spanish Golden Visa, it is essential to act now. The program remains open for applicants who have already invested or wish to invest through a bank deposit, commercial real estate, or a hotel project.
Spain isn’t the first European Union country to make significant changes to their golden visa. This policy shift aligns with actions taken by other EU countries, such as Portugal, Ireland, and the Netherlands, which have also tightened or eliminated their golden visa schemes to address similar issues.
How Can Global Citizen Solutions Help You?
Global Citizen Solutions is a boutique migration consultancy firm with years of experience delivering bespoke residence and citizenship by investment solutions for international families. With offices worldwide and an experienced, hands-on team, we have helped hundreds of clients worldwide acquire citizenship, residence visas, or homes while diversifying their portfolios with robust investments.
We guide you from start to finish, taking you beyond your citizenship or residency by investment application.
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 is working to tackle housing affordability and reduce speculation in the housing market. Prime Minister Pedro Sánchez has emphasized that housing should be a right, not a speculative business. The government believes that the golden visa program has contributed to rising property prices, making it difficult for many Spaniards to afford housing, especially in major cities.
When will the golden visa program be terminated?
From 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.
Are there any exceptions to the planned termination of the golden visa program?
On January 3rd, 2025, the law ending the Golden Visa program in Spain was published. From April 3rd, 2025 it will no longer be possible to apply for the Spain Golden Visa.
