The Spanish government eliminates the Golden Visa to curb rising housing prices
On April 3, 2025, Spain officially ended its ‘Golden Visa’ programme, which had allowed non-EU citizens to obtain residency by investing a minimum of €500,000 in Spanish real estate. This decision was part of broader efforts to address housing affordability issues across the country, as foreign investments were contributing to rising property prices in major cities like Madrid and Barcelona.
The termination of the Golden Visa means that non-EU investors can no longer acquire residency through property investment alone. This change affects potential investors from countries such as the UK, USA, China, and Russia, who had been significant participants in the programme.
Alternative residency options
Despite the end of the Spanish Golden Visa, several viable residency options remain:
1. Non-Lucrative Visa (NLV).
Ideal for retirees or those with passive income, the NLV permits residency without employment. Applicants must demonstrate sufficient financial means, typically around €2,400 per month or €28,800 annually for the main applicant. After five years, holders may apply for permanent residency and potentially Spanish citizenship.
2. Digital Nomad Visa.
Launched to attract remote workers, this visa allows non-EU citizens to live in Spain while working for foreign companies. Eligibility requires proof of stable remote employment, such as a professional certificate, or at least three years of work experience.
3. Entrepreneur Visa.
For those aiming to start an innovative business in Spain, the Entrepreneur Visa offers residency. Applicants must present a viable business plan that demonstrates innovation and economic interest to Spain.
4. Employment and Self-Employment Visas.
Non-EU citizens can obtain residency through:
Employment Visa: Requires a job offer from a Spanish employer who must prove the position cannot be filled by a resident worker.
Self-Employment Visa: Suitable for freelancers or entrepreneurs starting their own business, requiring a business plan and proof of financial means.
5. Family Reunification Visa.
Individuals with family members legally residing in Spain can apply for residency through family reunification. Applicants must have lived lawfully in Spain for at least one year and demonstrate sufficient economic means to support the family member.
6. EU Blue Card
Designed for highly qualified professionals, the EU Blue Card allows non-EU citizens to live and work in Spain. Applicants must have a job offer with a salary threshold of at least 0.8 times the regular salary threshold in Spain for professions in need.
Applications for the EU Blue Card are made through here
Market Outlook
While the Golden Visa programme has concluded, Spain's real estate market remains highly attractive to international investors. The country continues to draw global buyers with its exceptional climate, enviable lifestyle, and comparative value against other premier European destinations.
Following the introduction of the Digital Nomad Visa in 2022, Spain has risen to become the top-rated destination for remote workers worldwide, with Marbella's recognition as "European Best Destination 2024" further energising the property market.
Spain, and especially Málaga, have become top destinations for remote workers
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Trust the experts for your residency in Spain
For those seeking Spanish residency, consulting with immigration specialists is recommended to identify the optimal pathway based on individual circumstances. Despite policy changes, Spain's enduring appeal ensures it will remain a prime location for international property investment and relocation for years to come.
If you are an non EU national and are interested in purchasing property in Spain, Panorama can introduce you to top lawyers who can guide you through the process of obtaining the necessary visa. Contact us today.
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