Goodbye to the Golden Visa in Spain: What You Need to Know to Renew Your Current Residence Permit as an investor

The Golden Visa has been one of the most widely used tools by foreign investors to obtain residency in Spain through investment in real estate and other assets. However, the Spanish Government has announced that as of April 3, 2025, this residency-by-investment scheme will be completely eliminated.

Below, we analyze the reasons behind this decision, its impact on investors and foreigners interested in residing in Spain, and the available alternatives.

Why is the Golden Visa Being Eliminated?

We say goodbye to the Golden Visa as of April 3, 2025. In just three months, we will bid farewell to this famous Golden Visa and the investor authorization in Spain. Finally, with all the housing problems that exist today, the Spanish Government has decided to completely eliminate this investment article, and therefore, not only eliminates the possibility of acquiring this authorization through the purchase of one or several properties with a value of 500,000 euros, which is actually the most commonly used route, but has completely removed all the regulations governing investor authorization.

Who is Affected by this Elimination?

The Entrepreneurs Law was published in 2013 with the idea of attracting both foreign talent and investments to be made in Spain. Therefore, those who carried out or who still carry out investments in our country through property purchases, public debt, or bank deposits automatically obtained a residence permit for all purposes in our country.

However, with the elimination of the Golden Visa:

• New investors: From April 3, 2025, the Golden Visa can no longer be applied for.
• People with a valid Golden Visa: They can continue to renew it as long as they maintain their investment in Spain.
• Applicants in process: Those who have submitted their application before April 2, 2025 can complete it under the regulations in force at the time of application, provided that the investment has been made and correctly registered.

What Happens to Those Who Already Have a Golden Visa?

We have these three months left until April 2025 to continue processing this investor authorization. From that date, April 3, 2025, it will no longer be possible to obtain any type of investor authorization because, as we say, all the provisions of the Entrepreneurs Law aimed at investors have been completely eliminated.

However, the new regulation includes transitional provisions:

1. Applications in Process Before April 2, 2025

Applications submitted before the new regulation comes into effect can continue their processing under the previous legislation, provided that the investment has already been made and registered. In the case of real estate, it is essential that the purchase is recorded in the Land Registry.

Since the purchase and registration process can take up to two months, it is crucial to start the procedures well in advance.

2. Renewals of Existing Visas and Authorizations

What will happen then to people who already have this investor authorization? In that case, I call for calm because there will be no problem in continuing to renew these investor authorizations. However, they must always maintain the investment made in Spain.

Those who hold a Golden Visa can renew it under the original conditions, but it is essential that the process is managed correctly, as if a renewal is denied, there will be no option to reapply for an investor visa or residence.

What Are the Alternatives After the Elimination of the Golden Visa?

While residency by investment will be eliminated, there are other legal options to reside in Spain:

• Non-lucrative residence visa: For those with sufficient financial means who wish to live in Spain without working.
• Entrepreneur visa: The Entrepreneurs Law may still offer alternatives for those wishing to start a business in Spain.
• Work and residence permits for employment or self-employment: Depending on whether the individual seeks employment in a Spanish company or wants to establish their own business.
• Family reunification: For those with legally resident family members in Spain.

Conclusion

The elimination of the Golden Visa represents a significant change in Spain’s immigration legislation. Although those with valid visas can continue renewing them, those who planned to obtain this type of residency must act quickly before April 2, 2025, or explore other options for residing in Spain.

Given that these changes may create doubts or complications, it is advisable to seek advice from experts in immigration law.

Need Help with Your Golden Visa Application or Renewal?

At Visal Immigration Lawyers, we specialize in immigration law and can advise you on the best options for obtaining or renewing your residency in Spain.

If you have any questions or need assistance, contact us at 619 702 253 or visit our website www.visalimmigration.com for more information.