Spain’s residency-by-investment program, commonly known as the Golden Visa, ceased operations on April 3, 2025, following the passage of Organic Law 1/2025. The initiative, launched in 2013, primarily allowed foreign investors to obtain Spanish residency through real estate purchases starting at €500,000.
The Spanish government eliminated this scheme due to mounting concerns about housing affordability and market speculation. Prime Minister Pedro Sánchez noted that “94 out of every 100 such visas are linked to real estate investment in major cities” facing severe housing stress.
Existing visas remain valid until expiration, and applications submitted before the April deadline were still processed. Spain joins several other EU nations — including Ireland, Portugal, and The Netherlands — in discontinuing similar programs.
Alternative pathways to Spanish residency
- Employment-based work permits through Spanish companies
- Entrepreneur residency for business investments
- Non-lucrative visa for those with stable income (minimum €28,800 annually in 2024)
- Digital Nomad Visa for remote workers earning €2,520+ monthly
- Student visas permitting part-time employment