Spain Golden Visa Closed Since April 2025: What It Means and Your Options Now

Spain Golden Visa Closed Since April 2025: What It Means and Your Options Now

Spain's golden visa is closed. Organic Law 1/2025 abolished every investor residence route on 3 April 2025: property, capital investment, government bonds and business investment alike, and no new applications are accepted. This guide from Mirabello Consultancy explains exactly what changed, what it means if you already hold a Spanish investor permit, which routes to living in Spain remain open, and the European residency programmes that investors now consider instead.

What Happened to the Spain Golden Visa?

For more than a decade Spain granted residence to non-EU investors through the investor visa created by Law 14/2013. Organic Law 1/2025 of 2 January 2025 removed that regime, with a three-month transition that ended on 3 April 2025, the date on which the abolition took effect.

The closure was not limited to property. In announcing the change, the Spanish government stated that the benefits were being removed in the residential field and for all other investments, abolishing residence visas for investors outright (La Moncloa, official notice). Material published before April 2025, including earlier versions of guides that described capital transfers, government bonds or business investment as still available, is therefore out of date.

Which Investment Routes Were Abolished?

• Residential property investment: the best-known route, now closed.
• Capital investment: shares in Spanish companies and bank deposits.
• Spanish government bonds.
• Investment funds and business projects of general interest under the investor regime.

None of these routes accepts new applications, and no replacement investor visa has been introduced.

If You Already Hold a Spanish Golden Visa

The abolition does not strip existing holders of their status. According to Spain's official investment platform (ONE, Government of Spain):

• Permits already granted keep their validity until the expiry date stated in the original decision.
• Renewals are decided under the rules that applied at the time the permit was granted, so the conditions you originally met, including maintaining the qualifying investment, remain the ones that matter.
• Applications submitted before 3 April 2025 continue to be processed under the rules in force on the date they were filed.

If you hold an investor permit, the practical priorities are to keep your investment compliant, track your renewal dates carefully, and keep your documentation current. A lapse is far harder to cure now that the route cannot be re-entered.

Routes to Living in Spain That Remain Open

Spain remains open to newcomers; it simply no longer sells residence for investment. The main routes today are:

• Entrepreneur residence: for founders establishing an innovative business in Spain, assessed on the merits of the project rather than on a fixed investment amount.
• Highly qualified professionals: for senior specialists hired by Spanish employers.
• Non-lucrative residence: for financially independent people who will not work in Spain and can show sufficient means and private health insurance.
• International teleworking (digital nomad) residence: for remote workers employed by, or contracting with, companies outside Spain.

Each route carries its own financial thresholds, which Spain sets by reference to official indicators and revises over time. We quote the current figure for your case at consultation rather than publish one that may already have moved.

On citizenship: the residence period required for Spanish nationality is set by Article 22 of the Civil Code and depends on your nationality of origin, not on the type of permit you hold. The closure of the investor route does not change it.

European Residence by Investment: The Alternatives

For non-EU investors who specifically want a European residence permit through investment, the programmes most often compared are below. They are not open to EU, EEA or Swiss citizens, who have free-movement rights and do not need them. Compare the full field on the Golden Visa programmes hub.

Portugal is the closest like-for-like for investors who preferred Iberia, although it too has removed its property route. Greece is the natural choice for those who wanted a property-based permit. Malta suits families who want permanent status and to include parents and grandparents. Cyprus offers speed and low entry cost where Schengen travel is not the priority.

What We Recommend

If you already hold a Spanish investor permit, protect it: diarise renewals and keep the qualifying investment intact. If you were planning to apply, decide first what you actually need: a place to live in Spain, or a European residence permit obtained through investment. The first points to Spain's remaining routes; the second points to Portugal, Greece, Malta or Cyprus. Mirabello Consultancy advises on both paths from Zurich and Dubai: book a complimentary consultation and we will map the right one to your situation.