The Golden Visa program to Spain, which officially launched in 2013, will be closed as of April 3, 2025. Find out how this decision will affect current and potential investors and what alternative options exist for obtaining a residence permit in Spain

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The Spanish Golden Visa program, which allowed investors from outside the European Union to obtain a residence permit in the country through investment, will be closed from April 3, 2025.

This initiative was introduced in 2013, and its main goal was to attract foreign capital during the economic crisis, as it offered a residence permit in exchange for investments, such as the purchase of real estate worth at least 500,000 euros. In total, over the entire period, more than 14,500 investors were attracted, mainly from China, Russia, the United States of America and the United Kingdom. Read about the reasons for the closure of the program and alternative paths for foreigners in this article.

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Reasons for the closure of the Golden Visa program in Spain

The decision to end the Golden Visa program was prompted by the following issues:

- Impact on the housing market

The increase in foreign investment, especially in large cities such as Madrid and Barcelona, ​​has led to a rapid increase in property prices and gentrification, making affordable housing scarce for local residents.

- Economic effectiveness

Critics argue that the economic benefits of the program have been limited, which calls into question the effectiveness of the Spanish Golden Visa in stimulating the country's economy.

- Security and transparency

Following geopolitical events such as the Russian invasion of Ukraine, concerns have grown in the European Union about the origin of funds used in such investment schemes, prompting a reassessment of their security implications.

Available types of visas to Spain, as well as the requirements and procedure for their registration in this article.

What will change for current and potential investors?

- Existing Investors

For those who have already received a Golden Visa, existing permits will remain valid until their expiration date. Renewals will be processed according to the rules in force at the time of initial issuance, provided that all initial requirements are met.

- Potential Investors

Applications submitted before April 3, 2025 will be considered according to the current rules, but the investment must be made and all necessary documentation submitted by this deadline. Given that property transactions and registration can take up to two months, it is too late to take action.

Alternative options for obtaining a residence permit in Spain

After the Golden Visa program ends, non-EU citizens who wish to obtain a residence permit in Spain may consider the following alternatives:

- Non-profitable residence visa

This option requires proof of sufficient financial means to support themselves without working in Spain and requires spending more than six months a year in the country.

- Digital Nomad Visa

Designed for remote workers working for foreign companies or with international clients, this visa offers a way to reside in Spain while working remotely.

The end of the Golden Visa program in Spain marks a significant change in the country’s immigration and economic strategies, reflecting broader European trends to scrutinize investment-based residency schemes. For investors and individuals seeking to reside in Spain, it is essential to understand these changes and explore the available alternatives.

Consult a migration lawyer to explore your options for obtaining a residence permit in Spain after completing the Golden Visa program.

As a reminder, Spain launched its own digital nomad visa in January 2023, which was recognized as one of the most anticipated permits in Europe. Find out in this article what the procedure is for obtaining a digital nomad visa in Spain in 2024 and what obstacles expats face.

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