Spain ends Golden Visa residency for €500,000 property investments

Spain’s Golden Visa is closed to non-EU investors

Spain no longer grants residency for property or other investments, ending a route that once covered real estate purchases of at least €500,000 ($586,000) when the change took effect April 3, 2025.

Investor residency ended April 3

Organic Law 1/2025 repealed Spain’s investor residence provisions after a three-month transition period. The closure covers every former investment route, including real estate, government debt, bank deposits, funds and shares in Spanish companies.

Before the repeal, non-EU nationals could qualify through an unfinanced property investment of at least €500,000, among other capital options. Buying property in Spain no longer provides a residence permit, regardless of its value.

The government tied the repeal to housing policy, arguing that homes should serve as housing rather than speculative assets, particularly in high-pressure markets such as Madrid, Barcelona, Málaga and Valencia.

Existing permits remain protected

The change isn’t retroactive. Golden Visa holders retain their right to live and work in Spain for the term of their permits, along with Schengen travel privileges and may seek renewal under the rules that applied when their original authorization was granted.

Applications filed before April 3, 2025, including applications for eligible family members, can still be decided under the former regulations. Investors who missed that cutoff can’t revive the process with a later property purchase or investment application. They must instead file under a residence category that matches their work, income or family circumstances.

Remote workers still have a route

Spain’s Digital Nomad Visa remains available to qualifying non-EU remote workers and freelancers. Other options include work, self-employment, highly qualified professional, student, family reunification and non-lucrative visas, as outlined in Spain’s residency rules.

Tourist stays haven’t changed. Non-EU visitors remain subject to the standard Schengen limit of 90 days in any 180-day period, while EU and European Economic Area citizens retain freedom-of-movement rights.