Spain has officially abolished the Golden Visa. Learn how this affects foreign investors and explore the new legal residency alternatives after the April 2025 reform.
On April 3rd, 2025, a major legislative change came into force in Spain: the abolition of the Golden Visa. This decision officially ends the investor residency programme that allowed non-EU citizens to obtain Spanish residence through investment—particularly in real estate.
This reform, enacted under the Law 14/2003 on Support for Entrepreneurs and their Internationalisation, closes a chapter that for years attracted international investors seeking a European residence.
At Ibiza Royal Agency, we analyse what this measure means for current visa holders, future investors, and the new legal alternatives to live in Spain.
What Was the Golden Visa in Spain?
The Golden Visa—also known as the investor visa—was a special residence permit created for non-European Union citizens who made a significant investment in Spain.
Its main advantages included:
- An initial three-year residence permit, renewable for five years as long as the investment was maintained.
- Processing under the Entrepreneurs Law 14/2003, not the General Immigration Regime.
- Investment options ranging from real estate to public debt, company shares, or business projects.
- The ability to apply directly from Spain, without having to start the process abroad.
This made the Golden Visa particularly appealing to those wishing to secure European residency through property investment.
What Happens to Existing Golden Visas and Pending Applications?
Since the reform took effect, no new applications for the Golden Visa can be submitted. The final admissible applications were registered on April 2nd, 2025.
If you already hold a Golden Visa, the situation depends on your type of investment:
- Real estate investment of at least €500,000: you can renew your permit, and your residency remains valid.
- Other investments (public debt, bonds, etc.): these will not be renewable and will expire at the end of their current term.
Therefore, holders of Golden Visas obtained through real estate investment can maintain and renew their residency without concern.
Why Has Spain Eliminated the Golden Visa?
The decision to abolish the Golden Visa is driven by both European regulatory alignment and domestic housing concerns.
- Compliance with EU directives: Spain joins other EU nations—such as Portugal—in ending residence-by-investment programmes following European Commission recommendations.
- Stabilising the housing market: With property prices rising faster than average incomes, the Spanish government aims to reduce external demand that limits housing availability for local residents.
By removing this visa, Spain aligns with European policy while protecting affordability and access to housing for its citizens.
Alternatives to the Golden Visa
Although the investor visa is no longer available, several legal pathways remain for foreigners wishing to live in Spain:
1. Non-Lucrative Residence Permit
Designed for individuals with sufficient financial means who wish to reside in Spain without working.
- Financial requirement: approximately €30,000 in a bank account.
- Must hold private health insurance.
- Initial residence for one year, renewable.
- Limitation: no employment allowed.
2. Digital Nomad Visa
A perfect choice for remote workers or entrepreneurs with international clients.
- Residence valid for up to three years.
- Often includes tax advantages.
- Allows professionals to live and work remotely from Spain while maintaining global operations.
3. Student Visa
For those pursuing studies in Spain who wish to live and work part-time.
- Permission to work up to 30 hours per week.
- After graduation, it can be converted into a work or entrepreneur permit.
4. EU Family Card or Spanish Family Residence
If you have family ties to a Spanish or EU citizen:
- You can obtain a five-year residence card with full work rights.
- Applies to spouses, registered partners, children, and dependents.
Conclusion
The abolition of the Golden Visa in Spain marks the end of an era for international investors seeking European residency through property investment. However, it also opens the door to a more balanced housing market and several legal alternatives for those who wish to settle in Spain.
Exclusive Villa Portfolio
At Ibiza Royal Agency, we continue to guide our clients through every step of their real estate journey, ensuring that every investment is secure, compliant, and strategically aligned with current Spanish regulations.
Trust, transparency, and professionalism are the foundations of our service—because every property investment represents a future built with confidence.
