Spain has decided to put an end to the Golden Visa, the residence permit for investors that allowed non-EU citizens to reside in the country in exchange for doing significant investments. With the entry into force of the new Law 1/2025, Law of Effectiveness, on April 3, 2025, this option will be eliminated.
With regard to investment in real estate, it will no longer be possible to apply for this permit by purchase for a value equal to or greater than 500,000 euros. With this measure, the Government aims to stop real estate speculation and improve access to housing for citizens residing in Spain.
In addition to the elimination of this type of real estate acquisition, other investment modalities that allowed obtaining the residence permit for investors also disappear. These include:
- Financial investments: It will no longer be possible to obtain the Golden Visa through the acquisition of Spanish public debt securities for a value equal to or greater than 2,000,000 euros
- Investments in shares and funds: The option to invest 1,000,000 euros in shares of Spanish companies with real business activity, investment funds, venture capital funds or bank deposits in Spanish financial institutions is also eliminated
- Business projects: The concession of the permit through the start-up of business projects of general interest in Spain is also no longer available.
Despite this change, the permits already granted are still valid and may be renewed as long as the requirements established in the regulations in force at the time they were granted are met.
Requirements for renewal of the Golden Visa
- Maintain the initial investment, i.e., the property acquired must remain in the possession of the holder
- Visit Spain at least once during the validity of the permit
- Have a valid health insurance in Spain
- Demonstrate sufficient economic means to support the applicant and his family
- Do not have a criminal record in Spain nor in the countries of residence in the last five years
- Have a valid passport.
The renewal process must be initiated before the expiration date of the current permit and with due anticipation.
Those who still wish to apply for this residence permit must do so before April 3, 2025, as after that date it will no longer be available.
