The Spanish Golden Visa program ended on April 3, 2025. After twelve years, real estate investment no longer buys residency. Here is what happened and what options remain.
Why Spain Ended It
Housing prices in Barcelona and Madrid pushed local buyers out of the market. The government pointed to Golden Visa investors as part of the problem. Fair or not, the political pressure was enough.
The numbers tell the story. Applications surged in the final years. Over 3,000 visas approved in 2023 alone. Average investment per applicant exceeded €650,000. Most went into residential property in desirable neighborhoods.
What If You Already Have One
Existing holders keep their rights. Renewals continue as before. If you applied before April 2025, your application proceeds under the old rules. Nothing changes for you.
What If You Were Planning to Apply
The real estate route is closed. Buying property in Spain is still legal for foreigners. You simply cannot use that purchase to obtain residency anymore.
Alternatives That Work
The Digital Nomad Visa suits remote workers earning €2,763 or more monthly from foreign sources. No investment required. Clear path to permanent residency.
The Non-Lucrative Visa works for retirees and those with passive income. Around €2,400 monthly minimum. Cannot work in Spain but offers stability.
The Entrepreneur Visa applies if you have a viable business project. Lower capital requirements than the old Golden Visa. More documentation, but sustainable.
Our View
The Golden Visa was always a shortcut, not a strategy. Those who built real lives in Spain are fine. Those who treated it as a backup plan need to find another approach.
Spain still wants international talent. The rules just changed. We help clients find the path that matches their actual situation.
