The End of Spain’s Golden Visa in 2025: What Comes Next?

Table of contents

1. What is the Golden Visa in Spain?
2. What are (were) the requirements to apply for a Golden Visa in Spain?
3. What happened with the Golden Visa in Spain in 2025?
4. When was the Golden Visa cancelled?
5. Why was the Golden Visa cancelled?
6. How does the Golden Visa cancellation impact current Golden Visa holders?
7. Golden Visa Renewal: What happens when my Golden Visa expires?
8. What are the alternatives for investors who want a residence permit in Spain?
9. Golden Visa vs. Non-Lucrative Visa: Key Differences
   
   

What is the Golden Visa in Spain?

The Golden Visa in Spain is a quick resident and work permit that was obtained through investment (Spanish residency for investors).

What are (were) the requirements to apply for a Golden Visa in Spain?

Investors aiming at applying for the Golden Visa had to: 

• Buy a property in Spain for at least 500,000 €;
• Invest at least 2M€ in government debt;
• Or have financial instruments in Spanish territory for at least 1M€.

What happened with the Golden Visa in Spain?

The Spain’s Golden Visa has been cancelled and there is no longer the possibility to obtain it.

When was the Golden Visa cancelled? 

April 3rd, 2025 was the day the Spanish administration stopped accepting new applications for the Spain’s Golden Visa.

The Golden Visa still exists and is valid for current holders, however, it is not possible to apply for new Golden Visas. 

Why was the Golden Visa cancelled? 

Let’s look back at history:

• April 2024: the Spanish government announced the upcoming withdrawal of the Golden Visa only through real estate investments. According to the government, this measure responded to an attempt to ease the tight situation of the real estate market in main Spanish cities.
• May 2024: the Spanish Government published the legislative proposal to modify the Golden Visa. This legislative proposal would not only eliminate the possibility of obtaining a Golden Visa through real estate investments but also, it would erase the possibility to obtain it investing on investment funds. 
• November 2024: surprisingly, Congress approved the complete withdrawal of the Golden Visa. From just a modification of the eligibility to apply for the Golden Visa, to the full abolition of the permit. 
• April 3rd, 2025 officially closes the chapter of the Golden Visa program and no further initial applications will be processed. 

The reasons given by the government are as follows: 

• Housing affordability issues: It was argued that the program contributed to the rise in property prices in major cities such as Barcelona and Madrid.
• Limited economic impact: Although it attracted investors, the broader economic benefits were less significant than expected.
  
  
  

How does the Golden Visa cancellation impact current Golden Visa holders?

If you are already a Golden Visa holder, there's no immediate cause for concern. Your immigration status remains unchanged. Current Spain’s Golden Visa holders can continue to live and work in Spain under the same conditions as before.

Golden Visa Renewal: What happens when my Golden Visa expires?

Good news again: you will still be able to renew your Golden Visa through the regular renewal process. This means that the repeal of the program does not affect existing permits or the ability to extend them.

What are the alternatives for investors who want a residence permit in Spain?

With the Golden Visa off the table, many are asking: Is there another fast-track option for investors?
Unfortunately, no direct substitute currently exists that offers both residency and the right to work in Spain as quickly as the Golden Visa once did. However, there are still alternative pathways for those looking to move to Spain, such as the Non-Lucrative Visa.

Golden Visa vs. Non-Lucrative Visa: Key Differences

The Non-Lucrative Visa allows non-EU nationals with sufficient economic resources to reside in Spain without working. While it doesn’t grant access to the labor market, it’s a viable option for retirees or those looking to spend extended periods in the country without engaging in employment or formal business activities.

Any query about the new situation after the elimination of the Golden Visa? Do you want to invest in Spain and obtain a residence permit? 

Contact Anywr Spain for more info. We help you with everything about international mobility, immigration and relocation services in Spain.