Spain has officially announced the termination of its ‘Golden Visa’ program, effective April 3, 2025. This decision aims to address housing affordability issues and reduce speculative property investments.
If you’re a foreign investor, what does this mean for you? What alternatives are available? Let’s break it down.
What Is Spain ‘Golden Visa’ Program?
Launched in 2013, Spain’s Golden Visa scheme granted residency to non-EU investors who made significant financial investments. The key investment options were:
- 🏡 Real Estate: Minimum €500,000 investment in Spanish property.
- 💰 Government Bonds: Minimum €2 million investment.
- 📈 Business Investments: Minimum €1 million in Spanish companies or bank deposits.
This program attracted over 14,000 investors, primarily from China, Russia, the UK, and the USA, contributing significantly to Spain’s economy.
Why Is Spain Ending the ‘Golden Visa’ Program?
The Spanish government has cited several key reasons for discontinuing the program:
🏡 Housing Market Pressure
- Most Golden Visa investments focused on real estate in Madrid, Barcelona, Valencia, and Malaga.
- This drove up property prices, making housing less affordable for local residents.
📈 Speculative Investments
- Many investors purchased property without actually residing in Spain.
- This contributed to artificial housing demand.
⚖️ EU Regulatory Concerns
- The European Commission has raised security and money laundering concerns regarding Golden Visa schemes across Europe.
How Will This Impact Foreign Investors?
If you’re considering applying for Spain’s Golden Visa, here’s what you need to know:
- 📅 Application Deadline: Submit applications before April 3, 2025. Applications submitted before this date will still be processed under existing rules.
- ✅ Existing Visa Holders: Current Golden Visa holders will retain their residency rights. Renewals will follow the program’s original guidelines.
- 🛑 No New Applications: After April 2025, investors must explore alternative residency options in Spain.
What Are the Alternatives to Spain ‘Golden Visa’?
With the end of the program, investors can consider these residency alternatives:
1️⃣ Non-Lucrative Visa (Best for Retirees & Passive Income Holders)
- Requires proof of stable income, typically 400% of Spain’s IPREM for the main applicant (€28,800/year in 2024).
- Additional 100% of IPREM per dependent.
- No work authorization in Spain.
2️⃣ Entrepreneur Visa (For Business Investors)
- Designed for entrepreneurs launching innovative businesses in Spain.
- Must demonstrate economic impact and job creation.
3️⃣ Digital Nomad Visa (For Remote Workers & Freelancers)
- Open to non-EU nationals working remotely for companies outside Spain.
- Requires proof of employment and minimum income of €2,520/month (2024).
European Trend: More Countries Phasing Out ‘Golden Visas’
Spain is following the lead of Portugal and Ireland, which have also ended or reformed their investor residency programs.
The trend reflects Europe’s shift away from real estate-driven investment visas, focusing more on entrepreneurial and talent-based residency pathways.
Final Thoughts – Act Now Before the Deadline!
Spain’s Golden Visa program will officially end on April 3, 2025. If you’re considering investing, apply now before the deadline.
For those seeking alternative residency options, Spain still offers attractive visa programs for financial independence, entrepreneurship, and remote work.
💬 Are you planning to invest in Spain? Share your thoughts in the comments below!
