Patricia Casaburi
The Congress of Deputies in Spain voted to end the Spain Golden Visa program, which has allowed foreign investors to gain residency through investment in Spain. This vote marks a significant shift in the country’s immigration policy, with the proposal passing by 177 votes in favor and 170 against. After several months of intense legislative discussions, the decision to end the program was finalized. The Spain Golden Visa ended on 3 April 2025. Any applications submitted before the end date will be processed, and investors and family members who already obtained their Golden visas will remain unaffected.
Launched in 2013, the Spanish Golden Visa program became one of the most popular Golden Visa programs in Europe. It offers benefits like visa-free travel in the Schengen Area, EU education and healthcare access, and family residency options.
This article will cover everything regarding the Spain Golden Visa program, what that means for investors, and alternatives to Spanish residency.
In this guide, you will learn about:
⚠️ Spain Golden Visa Ending: April 2025 Update
The Spain Golden Visa program ended on April 3, 2025, and is no longer accepting applications.
Protection for Existing and Pending Applications
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.
Alternative Residency Options
The Portugal, Italy, Greece, and Malta Golden Visas are great alternatives for investors looking for a European residency permit without a stay requirement.
For those seeking to live in Spain, the Non-Lucrative Visa and the Digital Nomad Visa are excellent options.
Is the Spain Golden Visa ending?
Yes, the Spain Golden Visa program officially ended on April 3, 2025. After 3 April 2025, new applications for the Golden Visa, which grants residency to non-EU citizens through investment, will no longer be accepted.
The decision to end the program stems from concerns about housing affordability and pressure from the EU. However, those who already hold a Spanish Golden Visa can still maintain their residency rights.
On November 4, 2024, the Spanish government took the first steps toward reshaping the Spanish Golden Visa program and proposed its full discontinuation.
Key Developments in Spain Golden Visa Ending
November 14th 2024
As of early November 2024, only the initial step of Justice Commission Approval had taken place, approved with a close vote of 20 for and 17 against.
On November 14th, 2024, Congress approved the text of the Organic Law Project, which contained amendments to modify the law for the Spanish Golden Visa. The legislative process then moved to the Senate, where it had the power to block, amend, or approve the changes.
November 27th 2024
On November 27th, 2024, the Spanish Senate vetoed the proposed law to end the Golden Visa program, which Congress had previously approved.
The veto by the Senate returned the law to Congress, where it required an absolute majority for approval. Congress could:
- Approve the law with an absolute majority.
- If an absolute majority was not achieved, Congress could revisit and approve the law after two months with a simple majority.
December 19th, 2024
On December 19th, 2024, the Plenary of the Spanish Congress approved the law that ended the Golden Visa program in Spain. The approved text included the elimination of the possibility of applying for the Golden Visa through any type of investment, not just real estate investment, as initially planned.
January 3rd, 2025
The law ending the Golden Visa program in Spain was published on January 3rd, 2025. It will become effective on April 3rd, 2025, when applying for the Spain Golden Visa will no longer be possible.
April, 3 2024
The Spain Golden Visa program ended on April 3, 2025, and is no longer accepting applications. 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 still maintain their rights.
Why did the Spain Golden Visa end?
In April 2024, the Spanish government announced plans to restrict the Golden Visa program, eliminating the option to obtain a residency visa in Spain through property investment.
The initial announcement stemmed from concerns that the property investment option made housing in Spain unaffordable for local residents. The Spain Golden Visa allows foreign investors to obtain Spanish residency through economic investment, with one option being property worth a minimum of €500,000.
The announcement on November 4th, 2024, would end all investment options, not just the real estate investment option.
Read our Spain Non Lucrative Visa
Spain Golden Visa Ending Timeline of Events
2013
Spain Golden Visa introduction
April, 2024
Prime Minister Pedro Sánchez announced the government’s intent to eliminate property investments from the Spain Golden Visa program.
November, 2024
Start of legislative steps, Justice Commission Approval (Approved with a close vote of 20 for, 17 against).
January 2025
The law ending the Golden Visa program in Spain is published.
April, 3 2025
The Spain Golden Visa ended.
Can you still apply for the Spain Golden Visa?
Yes, you could still have applied for the Spain Golden Visa, but only until April 3, 2025. After this date, new applications were no longer accepted as Spain officially ended the program. If you were considering applying, you needed to submit your application before the deadline to be processed under the current rules.
Here’s how you would have applied:
1. Made an investment and chosen from the following options:
- €500,000 in real estate
- €1 million in shares, funds, or deposits
- €2 million in government bonds
- A business project benefiting Spain
2. Prepared the following documents: passport, proof of investment, clean criminal record, health insurance, and proof of financial means.
3. Applied at a Spanish consulate or in Spain. Processing took about 20 days.
4. Received a two-year residency permit, which could be renewed for five years. After five years, you could have applied for permanent residency; after ten years, you might have qualified for citizenship.
Spanish Golden Visas Issued Before it Ended
Spain’s Golden Visa program officially ended on April 3, 2025. Between January and October 2024, a total of 780 Golden Visas were issued. Of these, 573 were granted after the government announced in April 2024 that the program would be discontinued.
Key data on Spain Golden Visa beneficiaries
Key Data | Details |
Program Duration | 2013 – April 3, 2025 |
Percentage via Real Estate | Approximately 95% |
Golden Visas Issued (Jan–Oct 2024) | 780 (573 issued after April 2024 announcement) |
Golden Visas Issued (Q1 2025) | About 500 |
Total Foreign Property Purchases (2024) | Nearly 93,000 |
Main Cities for Investment | Barcelona, Madrid, Málaga, Alicante, Valencia, Girona, Balearic Islands |
Golden Visas in Catalonia (Jan–Nov 2024) | 314 total; 308 (98%) in Barcelona |
Total Golden Visas Issued | About 15,000 |
Investor profile | The majority was issued to nationals from China, Russia, Ukraine, and the United Kingdom. There was a notable increase in applications from UK and US nationals, particularly after Brexit. |
Golden Visa Trends in Europe
The end of the Spain Golden Visa program is not a new prospect; many Golden Visas across Europe have undergone significant changes.
For example, the Portugal Golden Visa program terminated its property investment option in October 2023. While there are still other options, including fund subscription, job creation, scientific research, donation in cultural heritage, and share capital, the real estate option is no longer available in any capacity (business or residential).
The Greece Golden Visa also underwent changes. In August 2024, a new four-tier system was introduced, where the investment required depends on the property location, with the lowest tier starting at €800,000. In September 2024, Greece added a new investment option, the Greece Start-Up, which lets investors fund Greek tech start-ups to gain residency.
Other Options for Spanish Residency
With the end of the Spain Golden Visa, here are other alternatives to Spanish residency:
Spain Digital Nomad Visa
The Spain Digital Nomad Visa, established in 2023, allows non-EU/EEA remote workers and freelancers to live and work in Spain for one year, with the option to extend for five years. Applicants must meet the monthly income requirement of €2,763 to prove they have enough funds to support themselves. Additionally, they must be employed by a company outside Spain, be self-employed, or be freelancers, and have sufficient healthcare insurance.
Spain Non-Lucrative Visa
The Spain Non-Lucrative Visa offers non-EU citizens a Spanish residency visa, also known as the Non-profit Visa. It is designed for those with sufficient economic funds who wish to retire or live in Spain without working. Eligibility requires proving that you can comfortably support yourself in Spain through non-working income, such as pensions or rental income. The minimum monthly income requirement is €2,400, ensuring that applicants have enough financial resources to live in the country.
Eight Other EU Golden Visas
While the Spain Golden Visa has ended, that does not mean it is the end to investing in an EU country. There still a several EU golden visas to choose from that have real estate investment options, start ups and innovation and more.
1. Malta Permanent Residency by Investment Program
The Malta Permanent Residence Program (MPRP) offers permanent residency through investment, without requiring a minimum stay. It covers up to four generations, including the main applicant, spouse, children, parents, and grandparents. To qualify, investors must make a three-part investment: rent a property in Malta for at least €14,000 per year for a minimum of 5 years, contribute €60,000 to the government, and donate €2,000 to a Maltese NGO. Alternatively, there is also the option to buy a property worth at least €375,000, also held for 5 years, contribute €30,000 to the government, and make the same €2,000 donation.
2. Greece Golden Visa
As mentioned earlier, the Greek Golden Visa is set to expand and introduce the option to invest in start-ups, but the program offers permanent residency to non-EU investors who purchase real estate worth at least €250,000 or €500,000 in select areas like Athens and Santorini. There are no stay requirements, and family members, including spouse, children under 21, and dependent parents, are included. The visa allows travel across the Schengen Zone and can be renewed every five years as long as the property is maintained.
3. Cyprus Golden Visa
The Cyprus Golden Visa also provides permanent residency through investment for non-EU nationals who invest at least €300,000 in real estate, company shares, or a Cyprus-based fund. Applicants must also show a stable income and deposit €30,000 in a Cypriot bank for three years. The permit covers the investor’s spouse, dependent children, and parents, with no requirement to live in Cyprus full-time.
4. Portugal Golden Visa
While Portugal ended real estate investments under the Portugal Golden Visa, investors can still qualify by contributing €500,000 to a qualified investment fund or €250,000 to cultural or artistic preservation. The visa requires an average stay of just seven days per year and includes family reunification. It offers a path to permanent residency and citizenship after five years.
⚠️ Portugal Nationality Law Changes 2025
A draft law published in June 2025 proposes major changes to Portugal’s nationality rules. The main change is increasing the residency requirement for citizenship from 5 to 10 years (7 years for CPLP nationals).
On June 7th, the Portuguese Parliament held an initial debate on the proposal. However, the government decided not to hold an immediate vote.
For the latest information regarding these changes, read Portugal Nationality and Citizenship Changes 2025
5. Italy Golden Visa
Italy’s Golden Visa, also called the Italy Investor Visa, grants residence to non-EU nationals who invest in the country. Options include investing €2 million in government bonds, €500,000 in an Italian company, €250,000 in an innovative startup, or donating €1 million to a public interest project. The visa is valid for two years, renewable for three, and can lead to long-term residency or citizenship once specific criteria is met.
6. Latvia Golden Visa
The Latvian Golden Visa is a flexible residency program for non-EU citizens who want to live in Europe and travel freely in the Schengen Zone. It allows the main applicant to include their spouse and dependent children. Investment options include buying real estate worth at least €250,000, investing €50,000 in a Latvian company that creates a local job, or placing €280,000 in a Latvian bank or government bonds.
7. Hungary Golden Visa
The Hungarian Golden Visa Program was reintroduced on July 1, 2024. It allows non-EU and non-EEA citizens to gain long-term residency through investment. It offers access to the EU and the Schengen Area, aiming to attract foreign investment. Applicants can choose between investing €250,000 in a state-approved real estate fund with a five-year holding period or donating €1 million to a Hungarian higher education institution for research or artistic activities.
8. Serbia Residency by Investment
Serbia Residency by Investment allows foreigners to gain residency by buying property in the country. A major benefit is that there are no restrictions on the price or location of the property; it can be an apartment, house, or commercial property. Foreigners from countries with property agreements can buy directly, while others may need to set up a legal entity.
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 the Spain Golden Visa Ending
Is Spain canceling the Golden Visa?
Yes, the Spain Golden Visa ended on April 3, 2025. and is no longer accepting applications. 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 still maintain their rights.
When is the Spain Golden Visa ending?
The Spain Golden Visa ended on April 3, 2025.
Can I still apply for the Spain Golden Visa before the program ends?
Yes, you could apply before the 3 April 2025 end date and not be affected by the program changes.
What happens to current Spain Golden Visa holders after the program ends?
Those with a valid Spain Golden Visa will not be affected by the changes in regulation.
What are the reasons behind the ending of the Spain Golden Visa program?
The initial concern with the Golden Visa in Spain came from property prices increasing drastically, making it difficult for local residents to afford property in Spain. This led to further concern raised about the number of approved applications for property investment overall.
What alternatives exist after the Spain Golden Visa program ends?
There are a range of Golden Visa programs available throughout Europe, including Portugal, Greece, Malta, Italy, Cyprus, and more.
Can I get Spanish residency if the Spain Golden Visa ends?
Yes, there are still ways to obtain Spanish residency now that the Golden Visa has ended, including through the Spain non-lucrative visa, entrepreneur visa, employment visa, family reunification visa, and student visa.
