Last Updated on March 21, 2025 by Maryam Siddiqui
The Spain Golden Visa has been one of the major ways investors used to get permanent status in the country. However, the overwhelming majority of Spain’s Congress of Deputies has recently voted for the end of this particular program. But the Spain Golden Visa Ending doesn’t need to halt your plans to find permanent residency in Europe.
So, what does this mean for current and future investors? Is it really the end of the Spain Golden Visa Program? What are some of the options left for you as an investor or an interested party for residency in Spain? Well, this post attempts to answer these questions in order to provide direction and a way forward.
Why Is Spain Ending the Golden Visa?
Spain’s Golden Visa program began in 2013 as a countermeasure to combat the existing banking and housing crisis that hit the country then. This approach has since proved to be effective as the economy has benefited from foreign investment.
However, while the program did work, why has the government since changed its mind? Here is a breakdown of some of the reasons why the Spanish government has decided to call an end to the Golden Visa program.
- Read Also: Best Places To Live In Spain For Expats
Impact of Housing Market Pressures
Other than the aforementioned reason, another important factor is the impact the program had on the housing market. The government believes that foreign investment has been a contributing factor to the surge in the cost of housing in Spain.
This is not only the case for rental apartments but also holds true for the cost of purchasing a home in Spain. According to data from Idealista, the cost of renting a house in Spain has increased by 80% over the last decade.
According to reports, this increase has surpassed wage growth, making life increasingly difficult for the local population. RTVE.es also reports that on average, Spain’s tenants spend a combined 40% of their salaries on utilities and rent.
This move by the government is aimed at prioritizing housing affordability for the residents as opposed to speculative future real estate investment from foreigners.
Government’s Stated Reasons
Another reason attributed to the Spain Golden Visa Ending is external pressure, particularly from the EU. The European Union has increasingly pressured EU member states to remove the program, citing security risks. This has particularly been true since the invasion of Russia into Ukraine.
This is quite evident since other countries like Ireland have since abolished their golden visa program and Portugal has made amendments. To be more specific, Portugal has since terminated its property investment program as an option for securing the Golden Visa.
When Will the Golden Visa End?
Spain’s Golden Visa program is set to come to an end as the country moves to reform its investment and immigration policies. So, what are the timelines for the decision to phase out this program?
Official Announcements and Timelines
From the reasons stated earlier, the Spanish Government made its first step towards reshaping the program on 4th November 2024. As of 3rd April 2025, non-EU residents will no longer have the privilege of gaining residence in Spain simply by investing in real estate.
As mentioned, this measure has been implemented to curb the rising real estate costs. While this is true, it is not restricted to real estate investment. This new law restricts all types of investments that were previously considered eligible for a Golden Visa in Spain.
What Happens to Existing Visa Holders?
From 2013 to 2023, the Spanish government has granted over 14,000 golden visas to qualifying foreign investors, as per CN Traveller. In the last decade, the Golden Visa has been a flexible option for investors from all over the world to invest in Spain and take advantage of the stable economy.
One of the main attractions has been the unlimited time you can spend in the country and around the EU member states. So, what does the Spain Golden Visa Ending mean to you as an existing visa holder?
The good news is that there will be no changes to pre-existing visa holders. The visa will remain valid for its original stated term and can be renewed upon request, subject to the laws in effect at the time of approval. If your application is currently under review, it will continue with the process per the law at the time of application.
What Are the Alternatives to the Golden Visa?
So, if you were planning to migrate to Spain permanently through the Spain Golden Visa, what alternatives are still available to you? The good news is that there are plenty of other pathways that you can use to achieve your dream of living in Spain.
Our experts at Viv Europe are more than happy to help you pick the right path depending on your situation. That said, here is a breakdown of a few pathways that are common among most expats.
Digital Nomad Visa
One popular alternative that has been around for just about two years is the Digital Nomad Visa. This particular visa was established in 2023, all in a bid to allow freelancers to experience the best of Spain.
The Digital Nomad Visa allows non-EU members to live and work in Spain for one year at a time. The great advantage of this visa is that it can be renewed for up to five years. Similar to any other visa application, the Digital Nomad option comes with a few requirements that you must meet to qualify.
One of the key eligibility criteria is proof that you can support yourself while living in Spain. You can achieve this either by working for a company outside Spain, being self-employed, or freelancing. The most recent data indicates that you will need to show proof of a monthly income of €2,760.
Non-Lucrative Visa
This is one of the fastest routes you can use to get permanent residency in the country if you meet the qualifications.
Sometimes referred to as the retirement visa, this particular alternative is ideal for you if you can comfortably support yourself without working. The popular sources of income for such individuals include pension or rental income. Keep in mind that you will need to show proof, depending on how many people you intend to support.
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Business Visa
The Entrepreneur visa, popularly known as the Business visa, is a short-stay alternative if your goal is to stay in the country for less than 90 days. As this is strictly a business visa, the eligible candidates are not allowed to engage in any employment activity while on this visa.
There are three categories of Business Visas, each designed for a specific business purpose: the Schengen Business Visa, the Self-Employed Worker Permit, and the Entrepreneur Visa.
Regular Residency Through Work or Study
With the Spain Golden Visa coming to an end, moving to Spain through work or study is a great alternative. Getting a job with a Spanish company or working for yourself can open the door to long-term residency.
If studying in Spain has always been on your mind, a student visa could be your first step—plus, it can lead to work opportunities later. These options give you a chance to build a life in Spain while fully experiencing the culture.
Not sure where to start? Get in touch and allow us to hold your hand along the way.
What Should You Do If You Were Planning to Apply?
If you’re still considering applying for the Spain Golden Visa, there’s a window of opportunity before the new law takes effect. Here’s a quick guide on what you need to do if the Golden Visa is still part of your plans.
Apply Before the Deadline
As the government still is in the process of transitioning and putting the new law into effect, the time to act is now. There has been an increase in applications for the visa since the announcement of the termination of the program. For some context, by October 2024, approximately 780 Golden Visas had been granted.
Also, over 573 of these Golden Visas were granted after Spain’s Prime Minister Pedro Sánchez initially announced the program’s suspension. There’s still time! Choose an investment that suits you. Whether it’s real estate, shares, bonds, deposits, or launching a business that benefits Spain.
Explore Alternative Residency Options
If you fail to beat the deadline of 3rd April 2025, you should know that there are alternative paths to achieving your dream of living in Spain.
Keep in mind that each visa comes with its unique eligibility criteria. After a 5-year legal stay in Spain, you have the option of applying for permanent residency. This is true despite the type of visa that granted you the legal stay status. After staying for 10 years in the country, you also have the choice of applying for Spanish citizenship.
Consult with Immigration Experts
With the removal of the Spanish Golden Visa, navigating your options for residency or investment in Spain requires expert guidance. Immigration laws are evolving, and making informed decisions now can save you time, money, and potential setbacks.
Consulting with experienced professionals ensures you explore alternative pathways suited to your needs. Viv Europe, a leading immigration agency, specializes in helping individuals transition smoothly, offering tailored solutions and up-to-date insights. Don’t risk uncertainty—reach out to Viv Europe today!
Alternate Options – Portugal Golden Visa
While there is no doubt that Spain is a great nation to retire and call home, there are other alternatives with a similar experience. Let’s face it, the major draw to Spain for expats is the weather, cost of living, and also the slow pace of life.
Portugal is a great alternative to Spain and offers the same experiences if not more. Also, the beauty of choosing Portugal as an option is that you still can apply for the Golden Visa.
Do You Want To Move To Spain Or Portugal?
If you are ready to take advantage of the window before the imminent Spain Golden Visa Ending, there is no better time to do so than now. At Viv Europe, we’ll help you figure out the right investment and expedite the process.
However, if you are considering relocating to Portugal as an alternative destination, we’ll also help you find a place and point you in the right direction.
But you don’t have to take our word for it, consider joining our Facebook Group – All About Portugal For Expats with 15,000+ members. Get in contact with other clients who are living their dream lives in Portugal or Spain thanks to our help and direction.
When you’re ready, schedule a free consultation with our experts and take the first step toward your dream relocation effortlessly!
