Spain has officially terminated its Golden Visa programme for non-European Union (EU) nationals, effective April 3, 2025. The decision, enacted following a government decree issued earlier this year, marks the end of a 12-year initiative designed to attract foreign investment in exchange for residency rights.
The Golden Visa programme, first introduced in 2013 in the wake of the 2009 debt crisis, allowed individuals from outside the EU to obtain residency permits by making substantial financial contributions to the Spanish economy. These investments could include real estate purchases, capital injections into Spanish companies or banks, or backing strategic business projects. The most common route was through property investment worth at least €500,000.
While the scheme granted holders the right to live and work in Spain, it notably did not require full-time residence. Investors needed only to visit the country once annually to retain their status, making the programme particularly attractive to global high-net-worth individuals seeking access to the EU and visa-free travel within the Schengen Zone.
In recent years, however, growing concerns over housing affordability and rising property prices in urban centres prompted the Spanish government to reconsider the programme’s impact. In April 2024, authorities announced plans to phase out the initiative, citing the need to prioritise housing access for Spanish residents. A formal proposal was submitted to parliament in November and officially adopted on January 2, 2025.
According to official data, between 2013 and 2023, Spain issued more than 14,500 Golden Visas, with a significant number granted to applicants from China, Russia, the United Kingdom, the United States, and several Latin American countries. The programme reportedly attracted approximately $10 billion in foreign investment over its lifetime.
 nationals. The decision, enacted following a government decree issued earlier this year, marks the end of a 12-year initiative designed to attract foreign investment in exchange for residency rights.){kind=link}