• Table of contents
• What Was the Spanish Golden Visa?
• Impact on Existing and Prospective Golden Visa Applicants
• Best Residency Options in Spain After the Golden Visa
• Permanent Residency and Citizenship
• How to Get Spain Residency After the Golden Visa Ends

The Spanish Golden Visa was a residency-by-investment program introduced in 2013 by the Spanish government to attract foreign investment, particularly in real estate. It allowed non-EU, non-EEA, and non-Swiss nationals to obtain residency in Spain by making a significant financial investment.

Key Features of the Spanish Golden Visa

• Investment Requirement: The most common route was investing a minimum of €500,000 in Spanish real estate (free of any mortgage or financing). Other options included capital investments of at least €1 million in Spanish businesses or bank deposits, or €2 million in government bonds.
• Residency Benefits: The visa granted residency rights to the investor and their immediate family (spouse, dependent children, and parents).
• Schengen Zone Travel: Holders could travel freely within the Schengen Area without needing additional visas.
• Minimal Stay Requirement: Unlike other residency options, there was no requirement to live in Spain full-time—visa holders only needed to visit the country once per year.
• Path to Permanent Residency & Citizenship: After five years, investors could apply for permanent residency, and after ten years, they could apply for Spanish citizenship, provided they met integration requirements.

The Golden Visa program was particularly popular among international investors, but it is now set to be discontinued as of April 3, 2025, as part of Spain’s efforts to regulate housing affordability and market pressures.

• Current Holders: Those who have already obtained a Golden Visa will retain their residency rights. Their visas and authorizations will remain valid for the period initially granted.
• Pending Applications: Applications submitted before April 3, 2025, will be processed under the existing regulations.
• New Applications: No new applications will be accepted after the April 3, 2025, deadline.

With the termination of the Golden Visa program, non-EU individuals seeking residency in Spain might consider the following alternatives:

1. Non-Lucrative Visa

• Overview: Designed for individuals who can financially support themselves without engaging in employment or professional activities in Spain.Requirements: Applicants must demonstrate sufficient financial means (around €2,400 per month for an individual) and possess comprehensive private health insurance.

2. Entrepreneur Visa

• Overview: Tailored for those intending to launch innovative business ventures in Spain that contribute to the country's economy.
• Requirements: Submission of a detailed business plan highlighting the project's viability, innovation, and potential job creation.

3. Work Visa

• Overview: For individuals who have secured employment with a Spanish company.
• Requirements: A valid job offer and, in certain cases, verification that the position cannot be filled by a resident worker.

4. Student Visa

• Overview: Intended for non-EU nationals wishing to pursue studies in Spain.
• Requirements: Enrollment in a recognized educational institution and proof of sufficient financial resources.

5. Family Reunification

• Overview: Allows family members of legal residents or citizens to join them in Spain.
• Requirements: Proof of relationship, financial means, and suitable living conditions in Spain.

• Permanent Residency: After five years of legal residency in Spain, individuals can apply for permanent residency, which allows them to live and work in the country indefinitely.
• Spanish Citizenship: After ten years of continuous residency, individuals may be eligible to apply for Spanish citizenship. Requirements include demonstrating integration into Spanish society, passing language and culture tests, and renouncing prior citizenship (except for nationals of certain countries like Latin America, Andorra, and the Philippines).

With the Golden Visa no longer an option, non-EU investors seeking residency in Spain will need to explore alternative routes. Spain's decision to end the program follows a trend seen in other European countries. Portugal recently tightened its own Golden Visa requirements by restricting real estate investments, while Greece has increased the minimum investment threshold in key areas. Investors looking for European residency-by-investment programs may now need to consider alternative options such as Portugal's D7 Visa or Greece's Golden Visa, which remains available with updated financial requirements. The good news is that Spain still offers multiple pathways to residency, including non-lucrative, work, and entrepreneur visas. While these alternatives may have different requirements and benefits, Spain remains an attractive destination for its lifestyle, business opportunities, and access to the European market.

It is crucial to stay informed about the latest immigration policies and seek legal guidance when considering residency options in Spain. By understanding the available alternatives and planning accordingly, investors and expatriates can still find a viable pathway to establishing a life in Spain, even after the end of the Golden Visa program.

Need help navigating Spain’s new residency rules? Contact us!