Spain has abolished the Golden Visa. Discover how this change affects foreign investors and explore the legal residency alternatives available after the April 2025 reform.
On 3rd April 2025, a major policy shift took effect in Spain: the abolition of the Golden Visa. This reform officially ends the investor residence programme that allowed non-EU citizens to obtain Spanish residency through financial investment—particularly in real estate.
Under the Law 14/2003 on Support for Entrepreneurs and their Internationalisation, the Spanish government has brought this long-standing route to an end, aligning with European recommendations.
At Ibiza Royal Agency, we explore what this means for existing visa holders, potential investors, and the legal pathways still available for those who wish to make Spain their home.
What Was the Golden Visa in Spain?
The Golden Visa, or investor residence permit, was a special type of residency introduced for non-EU citizens who made a significant investment in Spain.
Its main features included:
- An initial three-year residence permit, renewable for five years if the investment was maintained.
- A simplified process under the Entrepreneurs Law 14/2003, separate from the General Immigration Regime.
- Several eligible investment options, such as real estate, public debt, shares, or business projects.
- The convenience of applying directly from within Spain.
This system made the Golden Visa an appealing choice for international investors seeking residency rights within the European Union through property ownership.
What Happens to Existing Golden Visas and Pending Applications?
From 3rd April 2025, it is no longer possible to submit new Golden Visa applications. The last admissible submissions were made on 2nd April 2025.
For current visa holders, the government has outlined two different cases:
- Investments of at least €500,000 in property: holders will be allowed to renew their residence permits, which remain fully valid.
- Other types of investment (public debt, bonds, etc.): these permits cannot be renewed and will expire at the end of their current term.
Therefore, investors who obtained their Golden Visa through real estate can continue to reside in Spain under the same conditions.
Why Has Spain Abolished the Golden Visa?
Spain’s decision follows both European guidance and domestic housing concerns.
- Alignment with EU directives: Spain joins other EU member states, such as Portugal, in eliminating residence-by-investment schemes, as encouraged by the European Commission.
- Protecting the housing market: Spanish property prices have continued to rise, while the average income has not kept pace. The government’s goal is to improve access to housing for residents by limiting external investment pressure on the market.
This change represents a broader effort to balance foreign investment with the country’s social and economic needs.
Legal Alternatives to the Golden Visa
While the investor route has now closed, there are still several legal options to live in Spain:
1. Non-Lucrative Residence
Ideal for those with sufficient financial resources who wish to reside in Spain without working.
- Must demonstrate around €30,000 in a bank account.
- Must hold private medical insurance.
- Residence granted for one year, renewable.
- Does not allow employment or business activity.
2. Digital Nomad Visa
A modern solution for remote professionals or entrepreneurs working with international clients.
- Valid for up to three years.
- Includes potential tax advantages.
- Allows individuals to work remotely from Spain while maintaining global operations.
3. Student Visa
An accessible path for those wishing to study and live in Spain long-term.
- Permits working up to 30 hours per week.
- Can be converted to a work or entrepreneur permit after completing studies.
4. EU Family Card or Residence for Relatives of Spanish Citizens
For those with family ties to a Spanish or EU citizen:
- Grants five years of residence with full work rights.
- Available to spouses, registered partners, children, or dependents.
Conclusion
The end of Spain’s Golden Visa marks a turning point in how the country approaches foreign investment and residency. Yet Spain remains one of the most attractive destinations in Europe for those seeking a stable, high-quality lifestyle—thanks to the various legal alternatives still available.
Exclusive Villa Portfolio
At Ibiza Royal Agency, we provide expert guidance through every stage of the real estate process, ensuring your investments are secure, compliant, and aligned with the latest legal framework.
With professionalism, trust, and a deep understanding of the Spanish property market, we help our clients build not just a portfolio, but a future in Spain.
