Spain · Programme closed · Updated 2026-08-06
The Spain Golden Visa Has Ended
Spain closed its Golden Visa to new applicants on 3 April 2025. If you were counting on investing your way to Spanish residency, that door is shut, but you still have real options. This is the honest map: what it means if you already hold one, the visas Spain still offers, and the live golden visas elsewhere that actually replace what Spain lost.
The short answer
The Spain Golden Visa is closed. It ended on 3 April 2025 when Organic Law 1/2025 repealed the investor provisions (Articles 63–67) of the 2013 Entrepreneurs Law. You can no longer gain residency by buying property or making a financial investment in Spain. Existing holders keep their permits and can still renew. For an investment-based route to EU residency, Portugal, Greece and Italy are now the live alternatives.
Why Spain abolished it
The government sold the change as a housing measure. Around 94% of Spain's golden visas had been tied to real-estate purchases, and ministers argued the scheme was feeding property speculation and pricing residents out of cities such as Madrid, Barcelona and Málaga. Prime Minister Pedro Sánchez announced the plan in April 2024.
The repeal itself arrived in an unusual vehicle: not an immigration law, but Organic Law 1/2025 (a wide-ranging law on the efficiency of the public justice service), which quietly emptied the investor-visa articles of the 2013 Entrepreneurs Law. It was published on 3 January 2025 and took effect three months later, on 3 April 2025.
Already hold a Spain Golden Visa? You're protected
If you already have a Spanish investor permit (or your application was complete before 3 April 2025), nothing you built is lost. Your permit stays valid for its full term, and renewals continue to be processed under the rules that applied when your first permit was granted. That means you can still move from the initial permit to long-term residence after five years of continuous legal residence, and to Spanish citizenship after ten, or just two years if you are a national of an Ibero-American country, Portugal, the Philippines, Andorra or Equatorial Guinea, or of Sephardic descent.
The one thing to be careful about is your qualifying investment. Selling or materially changing it before you reach permanent residence can put a renewal at risk, so take advice before you move money. A Spanish immigration lawyer can confirm exactly where you stand.
The protection is not goodwill; it is written into the law. Organic Law 1/2025 inserted two transitional provisions into the 2013 Entrepreneurs Law: one for applications filed before the cutoff, one for permits already in force. The renewal provision carries a scope wrinkle, explained below the table.
| Your situation | What the law says |
|---|---|
| Application filed before 3 April 2025 | Decided under the rules in force on the day you filed (first transitional provision). |
| Permit valid on 3 April 2025 | Stays valid for the full term it was issued for. |
| Renewal (property route) | Processed and decided under the rules in force when your first permit was granted (second transitional provision). |
| Renewal (capital, funds or deposit route) | The provision's operative text covers investors generally, but its heading is property-scoped; confirm your position with counsel. |
| After five years of continuous residence | Long-term residence may be available under the general regime (Organic Law 4/2000, Article 32, requires five years of continuous temporary residence plus its regulatory conditions). Nationality has separate continuity rules, and long absences during your permit years can matter; ask counsel how yours count. |
One drafting wrinkle is worth knowing about, because almost nobody mentions it. The renewal provision's heading refers to investors who qualified through real estate, while its operative text speaks of investor visas and authorisations generally. Most Spanish golden visas were tied to property, so for most holders nothing turns on it. But if your permit came through capital, funds or a deposit rather than property, have counsel confirm your renewal position rather than assuming it is settled. It is exactly the kind of point a good Spanish immigration lawyer raises unprompted.
Renewal timing and evidence sit in the general immigration regulations rather than the transitional provisions, so treat the filing window and the proof list (that the investment is still in place, ongoing insurance, clean records) as questions for your lawyer at least three months before the permit expires.
Do you actually need an alternative?
Before you chase a replacement, it's worth being clear about what you were really after, because Spain's remaining visas and the golden visas elsewhere solve different problems.
If your goal was simply to live in Spain, you don't need an investment at all: the Non-Lucrative or Digital Nomad visa can get you there on income alone. But if what mattered was the investment-to-residency-to-citizenship path (putting capital in and getting EU residence in return), Spain no longer offers that, and no Spanish visa replaces it. For that specific goal, Portugal, Greece and Italy are the honest answer.
Spain's other residency visas
If it's Spain you want, these income-based routes are still open. None requires an investment, and buying property no longer grants residence on its own.
Non-Lucrative Visa
For people who can support themselves without working in Spain. You show passive income of about €28,800 a year (400% of the IPREM index), plus roughly €7,200 for each family member, and you cannot work in Spain on it. Since the 2025 immigration reform (Royal Decree 1155/2024) it also requires you to live in Spain more than 183 days a year to renew, so it is a genuine move-to-Spain visa rather than a part-time base, and those 183 days make you a Spanish tax resident.
Digital Nomad Visa
For non-EU remote workers and freelancers earning from outside Spain (no more than 20% of income from Spanish clients). The 2026 income threshold is a binding €34,188 a year (200% of the minimum wage), rising to roughly €47,000 for a couple. It can pair with the Beckham tax regime (a flat 24% on Spanish employment income up to €600,000 for up to six years).
Entrepreneur Visa
The one business route that survived the repeal. A non-EU founder with an innovative, viable business plan, favourably assessed by the Spanish authorities, can still obtain residence. This is a real venture, not a passive investment.
The live golden visas: Portugal, Greece and Italy
These three still grant residency for a qualifying investment: the model Spain scrapped. Each works differently, so run the numbers before you choose:
| Country | Lowest investment | Real estate? | Minimum stay | Cost |
|---|---|---|---|---|
| Portugal | €250,000 cultural donation · €500k fund | No (ended 2023) | ~7 days/year | Calculator |
| Greece | €250,000 conversion only · €400k property | Yes | None | Calculator |
| Italy | €250,000 startup · invest after approval | No | None | Calculator |
Greece's €250,000 tier applies only to property conversions and listed-building restorations; standard property is €400,000 or €800,000. Italy commits no capital until after a free pre-approval. Portugal removed its real-estate route in 2023.
Frequently asked questions
Is the Spain Golden Visa still available?
No. Spain's Golden Visa (the investor residence visa) closed to new applicants on 3 April 2025. It was repealed by Organic Law 1/2025, which removed Articles 63–67 of the 2013 Entrepreneurs Law. You can no longer obtain Spanish residency by investing in property, shares, funds or bank deposits.
When exactly did it end, and under what law?
The programme ended on 3 April 2025. The repeal was contained in Organic Law 1/2025 of 2 January 2025 (a broad law on the efficiency of the public justice service), which was published in the official gazette on 3 January and took effect three months later. Applications had to be complete before 3 April 2025 to be considered.
I already hold a Spain Golden Visa. Can I still renew it?
Yes. Your permit stays valid for its term, and renewals are processed under the rules that applied when your first permit was granted. One wrinkle: the renewal provision's heading refers to property investors while its operative text covers investors generally, so if your permit came through capital, funds or a deposit, have counsel confirm your position. The abolition only stops new applications.
Were applications submitted before the deadline still processed?
Yes. Applications that were complete before 3 April 2025 (with the qualifying investment already made) continued to be processed under the old rules. Only new applications from that date onward were blocked.
Can I keep my Spanish residency if I sell the investment?
If you hold an existing Golden Visa, you must keep the qualifying investment in place until you reach permanent residence (five years). Selling or materially changing it before then can put your next renewal at risk. Take advice from a Spanish immigration lawyer before you move the money.
Why did Spain abolish the Golden Visa?
The government framed it as a housing measure. It argued the scheme fuelled property speculation and pushed up prices in cities like Madrid, Barcelona and Málaga, since around 94% of golden visas had been tied to real-estate purchases. Prime Minister Pedro Sánchez announced the plan in April 2024.
Can I still get Spanish residency by buying property?
No. Buying property in Spain no longer grants any residence right. You can still buy a home as a non-resident, but it does not come with a visa. For residency you now need one of Spain's other visas: the Non-Lucrative Visa, the Digital Nomad Visa or the entrepreneur route.
What's the difference between the Non-Lucrative Visa and the Digital Nomad Visa?
The Non-Lucrative Visa is for people who can support themselves from passive income without working in Spain: you must show roughly €28,800 a year (400% of the IPREM index) plus about €7,200 for each family member. The Digital Nomad Visa is for people who actively work remotely for employers or clients outside Spain. The 2026 income threshold is about €34,188 a year (200% of the minimum wage). One is for the financially independent; the other is for remote workers.
How long can I stay outside Spain on the Non-Lucrative Visa?
Not long. Since the 2025 immigration reform (Royal Decree 1155/2024), you must be physically present in Spain for more than 183 days a year to renew the Non-Lucrative Visa, and a longer absence can cost you the permit and reset your path to permanent residence. It is a full-time residence visa, and those same 183 days make you a Spanish tax resident.
Is buying property in Spain still worth it without the visa?
Buying a home in Spain is now purely an investment or lifestyle decision: it no longer comes with any residence right. You can still buy freely as a non-resident, but if residency is the goal you need a visa (Non-Lucrative, Digital Nomad or entrepreneur), or a golden visa in another country. Many buyers pair a Spanish home with a Non-Lucrative or Digital Nomad visa.
Does Spain still have any investor or entrepreneur route?
The passive investor visa is gone, but the entrepreneur visa survived: only the investor articles of the 2013 law were repealed. A non-EU founder with an innovative, viable business plan (favourably assessed by the Spanish authorities) can still obtain residence. It is a genuine business route, not a passive investment.
Which European golden visa is cheapest now?
The lowest entry points are Italy's €250,000 innovative-startup route and Portugal's €250,000 cultural donation. Greece's €250,000 tier is limited to specific property conversions and restorations; its standard property routes are €400,000 or €800,000. Use our cost calculators to compare the all-in figures for each.
Which golden visa is the real replacement for Spain's?
If what you wanted was the investment-to-residency-to-citizenship path, Portugal, Greece and Italy are the live replacements: they still grant residency for a qualifying investment. Spain's remaining visas (Non-Lucrative and Digital Nomad) are lifestyle permits based on income, not investment, so they suit a different goal.
Work out your next move
Whether you need to protect an existing Spanish permit, switch to a Non-Lucrative or Digital Nomad visa, or price a golden visa in Portugal, Greece or Italy, compare verified immigration lawyers, ranked on credentials and reviews and never pay-to-play, and get quotes for your situation.
Disclaimer. This guide is general information, not legal, tax or immigration advice. Spain's Golden Visa was repealed by Organic Law 1/2025, effective 3 April 2025. Income thresholds for the Non-Lucrative Visa (IPREM-based) and Digital Nomad Visa (minimum-wage-based) are current for 2026 and change when those indices are updated. Rules and figures change; confirm your eligibility with a licensed immigration lawyer before acting. Last reviewed 2026-08-06.