Spain’s Golden Visa programme has long been a popular choice for non-EU investors seeking residency and a second passport in Europe. Recent changes, though, have reshaped the options for prospective applicants.
In January 2025, the Spanish government legislated to abolish the Golden Visa programme entirely, with the property investment route — and all other investment routes — officially terminated on 3 April 2025. The move aimed to ease pressure on the housing sector and address concerns about money laundering risks.
The Spanish Golden Visa programme closed to new applications on 3 April 2025. Existing holders may renew under transitional rules, but no new applications are being accepted under any investment route. Here’s what investors with existing visas need to know.
Investment in Spanish Companies
One option for Golden Visa applicants is investing directly in Spanish companies. This route requires a minimum of €1,000,000 in shares of Spanish firms.
Investors can put it all into one company or spread the investment across multiple businesses. The key restriction is that investments must be made in companies that aren’t purely holding companies.
Investment Funds
For those who’d prefer a more hands-off approach, investing €1,000,000 or more in Spanish investment funds is another viable option. This route lets investors meet Golden Visa requirements while leaving day-to-day decisions to professional fund managers. The funds must be registered with the Spanish National Securities Market Commission (CNMV).
Government Bonds
For the most risk-averse investors, purchasing at least €2,000,000 in Spanish government bonds offers a stable path to residency and potentially Spanish citizenship. This option comes with a guaranteed return.
Business Investment
Entrepreneurs can also qualify for a Golden Visa through business investment. There’s no fixed minimum amount here. Instead, the project must meet certain criteria:
Create jobs
Have a significant socio-economic impact in the area
Contribute to scientific and/or technological innovation
Bank Deposits
Opening a deposit of €1,000,000 or more in a Spanish bank is another straightforward option. It’s simple to set up, though returns are limited in the current low-interest environment.
Living in Spain with a Golden Visa
Whichever investment route you choose, Golden Visa holders get considerable flexibility. There’s no requirement to live in Spain permanently. To maintain and renew the visa, there is no minimum stay requirement — you need only visit Spain at least once during each authorisation period.
After five years, investors can apply for permanent residency, which also requires spending at least 183 days annually in Spain. Permanent residency offers greater freedom of movement, even during times of crisis.
After ten years in total, Golden Visa holders may be eligible for Spanish citizenship. This requires proving continuous residency, passing a basic language test, and demonstrating ties to the country.
What’s Next?
Choosing the right Spanish Golden Visa route means weighing your investment goals against your lifestyle preferences. At International Wealth Ventures, we specialise in guiding investors through the details of global residency programmes.
