Golden Visa of Spain Update

Spain has officially terminated its Golden Visa program, which granted residency to non-EU nationals in exchange for significant investments, particularly in real estate. 

This decision, aimed at addressing housing affordability and speculation concerns, will take effect on April 3, 2025. 

Key Details

Termination Date: The program will cease on April 3, 2025, three months after the publication of Organic Law 1/2025 in the Official State Gazette on January 3, 2025. 

Impact on New Applications: No new Golden Visa applications will be accepted after the termination date. 

Applications submitted before this date will be processed under the current regulations. 

Existing Visa Holders: Individuals who already possess a Golden Visa will retain their residency rights. 

Renewals of existing visas will continue under the current conditions, allowing for successive five-year renewals, provided the original investment criteria are maintained. 

Alternative Residency Options:

With the discontinuation of the Golden Visa, prospective investors and residents can consider other pathways to Spanish residency:

Non-Lucrative Visa (NLV): Suitable for retirees and individuals with sufficient financial means, this visa requires proof of adequate economic resources and does not permit employment in Spain. 

Digital Nomad Visa: Designed for remote workers, this visa allows individuals employed outside Spain to reside in the country while working remotely. 

Entrepreneur Visa: Intended for individuals planning to start innovative businesses in Spain, this visa requires a detailed business plan and proof of sufficient financial resources. 

Highly Qualified Professional Visa: Aimed at professionals with specialized skills, this visa necessitates a job offer from a Spanish company and compliance with specific salary thresholds. 

These alternatives offer viable routes for those seeking residency in Spain following the Golden Visa program's conclusion.