Spain Golden Visa Ends April 2025: Complete Guide to Alternative Residency Options
Spain Golden Visa ended April 3, 2025. Explore alternative residency: Digital Nomad Visa, Non-Lucrative Visa, and more options.
Spain's Golden Visa Program: Official End and What It Means for Investors
On April 3, 2025, Spain officially terminated its Golden Visa program under Ley Orgánica 1/2025, published in the Official State Gazette (BOE) on January 3, 2025. This marks the end of a 12-year program that allowed non-EU citizens to obtain Spanish residency through significant real estate investment.
This comprehensive guide explains what happened, who is affected, and the alternative pathways still available for those seeking Spanish residency.
What Was the Golden Visa Program?
Launched in 2013 during Spain's economic recovery, the Golden Visa (officially "Visa de Residencia por Inversión") allowed non-EU nationals to obtain Spanish residency by making qualifying investments, primarily:
- Real estate: Minimum €500,000 investment (most popular option)
- Spanish company shares: €1 million minimum
- Government bonds: €2 million minimum
- Bank deposits: €1 million minimum
- Business projects: Creating significant employment in Spain
Over its lifetime, the program granted more than 10,000 residency permits through real estate investment alone.
Why Did Spain End the Golden Visa?
The Spanish government cited several reasons for abolishing the program:
Housing Affordability Crisis
Rising property prices in major cities like Madrid, Barcelona, and coastal areas made housing increasingly unaffordable for local residents. In some municipalities, Golden Visa purchases accounted for up to 10% of total property sales.
EU Pressure
The European Commission urged member states to restrict "golden passport" schemes due to security concerns, particularly following Russia's invasion of Ukraine. The UK, Ireland, and Portugal have already modified or ended similar programs.
Changing Buyer Profiles
Since 2022, more investors purchased high-value properties without intending to relocate to Spain, fueling speculation rather than genuine integration.
Key Dates and Legal Framework
| January 3, 2025 | Ley Orgánica 1/2025 published in BOE |
| April 3, 2025 | Official end date - no new applications accepted |
The law repealed Articles 63-67 of Law 14/2013, which had established the Golden Visa framework.
Protection for Existing Golden Visa Holders
Important: If you already hold a Golden Visa or submitted your application before April 3, 2025, you are protected:
- Current holders: Your permit remains valid for its original duration
- Renewals: You can renew under the rules that existed when you first obtained your visa
- Pending applications: Applications submitted before the deadline will be processed normally
- Family members: Dependents included in original applications retain their rights
The transitional provisions ensure no retroactive impact on existing investors.
Alternative Residency Options for Non-EU Citizens
While the real estate route has closed, several pathways to Spanish residency remain available:
1. Digital Nomad Visa (Visa para Teletrabajadores)
Introduced in 2023, this is now one of the most attractive options for remote workers:
- Requirements: Minimum €2,520/month income (or €30,240/year)
- Work: Must work remotely for non-Spanish companies
- Duration: Initial 1-year visa, renewable for up to 5 years
- Tax benefits: Special tax regime available (24% flat rate for 6 years)
- Family: Spouse and children can be included
Read our detailed guide: Digital Nomad Paradise: Costa Blanca Living Guide
2. Non-Lucrative Visa (Visa No Lucrativa)
Ideal for retirees and those with passive income:
- Requirements: Proof of sufficient funds (approximately €2,400/month or €28,800/year)
- Work: Cannot work in Spain (investment/pension income only)
- Duration: 1-year initial, renewable for 2-year periods
- Healthcare: Private health insurance required
- Path to residency: Leads to permanent residency after 5 years
3. Entrepreneur Visa (Visa de Emprendedor)
For business founders creating jobs in Spain:
- Requirements: Viable business plan with innovative or economic interest
- Investment: Sufficient capital to execute the business plan
- Jobs: Must create employment for Spanish residents
- Support: Can be endorsed by ICEX or approved incubators
4. Highly Qualified Professional Visa
For executives and specialized workers:
- Requirements: Job offer from Spanish company
- Salary: Must meet minimum thresholds (typically €50,000+)
- Qualifications: University degree or equivalent experience
5. Family Reunification
If you have family legally residing in Spain:
- Eligible relations: Spouse, children, dependent parents
- Sponsor requirements: Legal resident for at least 1 year
- Financial: Sponsor must demonstrate sufficient income
Can Foreigners Still Buy Property in Spain?
Yes, absolutely. The end of the Golden Visa does not affect property ownership rights. Non-EU citizens can still:
- Purchase any type of property in Spain
- Own multiple properties
- Rent out properties for income
- Benefit from capital appreciation
The only change is that property purchase no longer automatically grants residency rights.
Alternative Golden Visa Programs in Europe
For investors specifically seeking residency-by-investment, these EU countries still offer Golden Visa programs:
Portugal
- Modified program (real estate route restricted to low-density areas)
- Investment funds route still available (€500,000 minimum)
- Path to EU citizenship after 5 years
Greece
- Real estate from €250,000 (€500,000 in prime areas)
- No minimum stay requirement
- 5-year renewable permit
Malta
- Real estate + donation combination
- Direct path to citizenship possible
- More expensive but faster process
Italy
- €250,000 minimum investment in innovative startups
- Or €500,000 in Italian companies
- 2-year permit, renewable
Impact on Costa Blanca Real Estate
Despite the Golden Visa ending, Costa Blanca remains highly attractive for international property buyers:
- Lifestyle: 325+ sunny days, Mediterranean climate
- Value: More affordable than French Riviera or Balearics
- Infrastructure: Excellent healthcare, international schools
- Connectivity: Alicante airport with direct European flights
- Rental yields: Strong demand for vacation rentals
Property investment remains a sound financial decision even without the residency component.
What Should You Do Now?
If You Want Spanish Residency:
- Evaluate which alternative visa suits your situation
- Consult with an immigration lawyer for personalized advice
- Gather required documentation early
- Consider the Digital Nomad Visa if you work remotely
If You Want to Invest in Spanish Property:
- Property purchase remains fully available to foreigners
- Focus on locations with strong rental demand
- Consider Costa Blanca for value and lifestyle
- Work with experienced local agents
Conclusion
While the end of Spain's Golden Visa closes one door, multiple alternative pathways to Spanish residency remain open. The Digital Nomad Visa and Non-Lucrative Visa are particularly attractive options for those who can demonstrate stable income or work remotely.
For property investors, Costa Blanca continues to offer exceptional value, lifestyle benefits, and strong rental potential regardless of visa considerations.
Ready to explore your options? Contact Casa Rica Estate for expert guidance on property investment, or consult with our partner immigration lawyers for residency advice.
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