Golden Visa Spain

What Was Spain’s Golden Visa?

Spain’s Golden Visa programme was introduced in 2013 through Law 14/2013 on support for entrepreneurs and their internationalisation. It allowed citizens of non-EU countries to obtain an initial two-year residency permit (renewable for five-year periods) in exchange for an investment in Spain exceeding certain thresholds.

The programme was widely used by investors from China, Russia, Arab countries, and in recent years from Latin America. However, its link to real estate investment was identified as one of the factors contributing to rising property prices in cities such as Madrid, Barcelona, Malaga, and the islands.

Important: The programme was abolished in April 2025. The Spanish Government included the elimination of the Golden Visa in the Real Estate Market Efficiency Measures Act, which came into force that month. From that date, no new applications are accepted. Visas already granted remain valid until their expiry date but are not renewable under the same regime.

Investment Types That Qualified (Until April 2025)

• Purchase of real estate with a value equal to or greater than EUR 500,000 (free of encumbrances)
• Investment in Spanish public debt of EUR 2 million or more
• Investment in shares or participations in Spanish companies of EUR 1 million or more
• Bank deposits in Spanish institutions of EUR 1 million or more
• A business project of general interest (job creation, relevant socio-economic impact)

Current Alternatives for Investors and Foreign Residents

With the disappearance of the Golden Visa, non-EU citizens wishing to reside in Spain have the following main routes available:

• Digital nomad visa: for self-employed individuals or employees of foreign companies working remotely from Spain. Requires minimum income of EUR 2,646/month (2025).
• Entrepreneur visa (Startup Act): for founders of innovative startups with activity in Spain.
• Non-lucrative residency: for individuals with sufficient income or assets who do not work in Spain. Requires proof of economic solvency.
• Beckham Law regime (impatriates): not a residency visa, but a special tax regime applicable to those who relocate to Spain for work purposes.

Relevance for Businesses

The abolition of the Golden Visa does not eliminate Spain’s attractiveness as a destination for foreign investment and the relocation of businesses and executives. The Beckham Law tax regime, the Startup Act, and the fiscal incentives of special territories such as the ZEC (Canary Islands) and Ceuta/Melilla remain fully in force and continue to offer significant advantages.