For years, one of the most common questions asked by those seeking to migrate to Europe through investment was: how does the golden visa Spain work?
This special visa, introduced in 2013offered to non-EU citizens the possibility of be legally resident in Spain in return for significant investment, mainly in real estate.
However, in 2024 the Spanish government announced the end of the Golden Visa as a measure to regulate the real estate marketThe Committee would like to see an increase in the number of people buying property for speculative purposes.
The news generated a strong impact among foreign investors, families who were planning to move to Spain y legal advisors who worked in this type of procedure.
In this article we will go through in detail what was the golden visa SpainWhat were its requirements, benefits and implementation process, and what are the consequences of its elimination from 2025 onwards?
What was the Golden Visa in Spain?
The golden visa Spain was a residence permit created by the Law 14/2013known as "Entrepreneurs Law". The aim was to attracting foreign capital to the countryin exchange for the possibility of living and working in Spain legally.
The mechanism was simple, if a citizen non-European made a significant investment (usually in real estate), it could apply for this visa special that was initially granted by two yearsrenewable for further periods of five yearsto the residence permanent and, eventually, nationality.
In due course, Spain became one of the favourite destinations for investors de China, Russia, Venezuela, Mexico and the Persian Gulf countriesattracted not only by the real estate market, but also by the quality of life, the climate and the opportunities offered by the country.
Investment requirements
The most common requirements for access to the golden visa in Spain were:
- Real estate: a minimum investment of 500,000 euros in real estate, whether it was a single property or several properties totalling that amount.
- Government bonds: investment of at least 2 million in Spanish public debt.
- Shares or bank deposits: investment of 1 million euro in shares of Spanish companies or deposits in local banks.
- Business projects: develop a business considered to be of general interest to the Spanish economy (with innovation, employment generation or positive social impact).
The most popular, without a doubt, was the real estateespecially in cities such as Madrid, Barcelona, Valencia, Malaga and the Balearic Islands.
Benefits of the Golden Visa
The golden visa in Spain was not just a migratory role. It brought with it a number of benefits that made it very attractive to investors and families:
- Residence for the whole family: the leave included the spouse, children under the age of 18 and, in some cases, dependent adult children.
- Initial validity of 2 years: with the possibility of renewal for 5 years additional investment as long as the investment was maintained.
- Road to permanent residence: after 5 years of legal residence, it was possible to apply for long-term residence, and after 10 years nationality Spanish.
- Free movement in Europe: allowed to move within the space Schengen without the need for additional visas.
- Right to work in Spain: not only to reside, but also to work as an employee or self-employed person.
For many Latin Americansespecially Venezuelans y Colombianswas a quick and legal way to establish a foothold in Europe with security and stability.
What the application process was like
The process for applying for the golden visa Spain was fairly well defined:
- Realise the investment: first the purchase of the property or the chosen investment had to be completed, with all the documentation registered with Spain.
- Gather personal documents: valid passport, private health insurance valid in SpainThe following documents are required: a criminal record certificate and proof of funds.
- Application at the consulate or in Spain: the procedure could be initiated in the country of origin or directly in the country of origin. Spain.
- Resolution deadlines: the government undertook to resolve the issue within a maximum of 20 working days, which was very fast compared to other types of visas.
- Periodic renewal: as long as the investment was maintained, it could be renewed up to the point of accession. permanent residence.
Consequences of the end of the Golden Visa in 2025
The advertisement of the elimination of the golden visa Spain had immediate repercussions in several sectors.
- Impact on the real estate market: in cities such as Barcelona o Madridwhere a large part of the luxury purchases came from foreign investorsIn the case of the EU, a decrease in demand is expected.
- Less attractive to international investors: Spain loses a competitive advantage over others European countries that still maintain investment residency programmes.
- Increased focus on real business projects: the government is seeking to redirect investment towards innovation, employment y development sustainable, rather than speculative house purchases.
- Uncertainty in families planning to migrate: many families who were planning to apply for this visa must now evaluate other legal residence alternatives.
Alternatives in Europe: Portugal and Greece
Although Spain closed its programme, countries such as Portugal and Greece kept in 2025 attractive options for those who wish to obtain the European residence through investment.
These programmes, also known as Golden Visaoffer very similar benefits: legal residence, free movement within Schengen and the possibility of reaching the citizenship.
Golden Visa Portugal
The Portuguese programmein force since 2012is one of the most recognised in Europe. Its main avenues of investment include:
- Real estateminimum purchase of 500.000 €reduced to 350.000 € in properties for rehabilitation or located in rural areas.
- Capital funds: contribution of 500.000 € in funds that support domestic companies.
- Cultural or scientific projects: investments from 250.000 €.
One of its major advantages is the low residency requirement (seven days a year) and rapid access to the citizenship in just six yearsone of the shortest deadlines in the EU.
Golden Visa Greece
GreeceThe programme, on the other hand, stands out as one of the most accessible programmes. With only 250,000 in real estateyou get a residence permit valid for five yearsrenewable indefinitely.
The procedure is usually resolved in a few days. two months and allows to include the spousechildren under the age of 21 and parents of both applicants.
The real estate varietyfrom flats in Athens to villas on islands such as Santorini o Cretehas turned Greece in a highly sought-after destination.
Comparison
Portugal offers greater diversity of investments and a fast track to the citizenshipwhile Greece stands out for its low cost of entry and its speed.
In both cases, they represent solid alternatives for those looking for an entry point to Europe after the end of the Golden Visa Spanish.
What can interested parties in Spain do?
While the golden visa in Spainas it was known, has come to an end, other avenues for legal residence remain available:
- Non-profit residence visa: for those who have stable financial means without the need to work in the country.
- Student visa: valid for those wishing to pursue higher education.
- Residence on the basis of roots: applicable in cases of prolonged stay and family links in Spain.
- Entrepreneurship and innovation: the Spanish government wants to continue attracting technological and social impact projects, although no longer under the label of "social impact projects". "Golden Visa.
The golden visa Spain was, for more than a decade, an open door for thousands of families who found in this programme a legal, fast and safe way to settle in the country. Europe.
Its end marks a change in the the country's migration and economic strategyThe focus is now on more sustainable and less speculative models.
For those who still dream of living in SpainThere are other ways. They will not be as direct as investing in a luxury propertyThe European Union is still offering the possibility of living in a country that, because of its culture, language and quality of life, continues to be one of the favourite destinations for Latin Americans.
At Curiara we know that the end of the Golden Visa in Spain can create uncertainty, but it also opens the door to new alternatives. With this article we want to help you understand the changes and the options available, so that your path towards the residence in Europe be clearer and simpler.
Because the most important thing is to build a stable future with those you love the most.