In January 2025, Organic Law 1/2025, of January 2, on measures regarding the efficiency of the Public Justice Service, was published, which puts an end to the Spanish Golden Visa with effect from April 3, 2025.
Since September 2013, with the law to support entrepreneurs and their internationalization, the residence visa for investors (the Golden Visa) was introduced in Spain. Non-EU foreigners who have since then acquired real estate with an investment value equal to or greater than 500,000 euros have been able to enjoy a visa that allows them to legally reside in Spain and therefore move freely throughout the Schengen area.
What is the Golden Visa?
It is a visa that allows non-EU foreign investors and their family members to reside and work in Spain and therefore move freely throughout the Schengen area. To obtain it, a significant investment must be made:
a) An initial investment of 2 million euros or more in Spanish public debt securities, or of 1 million euros or more in shares or equity interests in Spanish companies, or bank deposits in Spanish financial institutions.
b) The acquisition of real estate in Spain with an investment of 500,000 euros or more for each applicant.
c) A business project that is going to be developed in Spain and that is considered and accredited as being of general interest.
Duration of the residence permit for investors
If the investor is legally in Spain, he or she must apply for a residence permit that will allow him or her to reside and work in Spain for a period of 3 years.
If he or she is outside of Spain, he or she must apply for a visa that has a duration of one year, except for the acquisition of real estate through a deposit contract, which is 6 months. At the end of the period, he or she must apply for a residence permit.
Once the 3-year period has ended, foreign investors who are interested in residing in Spain for a longer period may apply for renewal of the residence permit for successive periods of five years, provided that the conditions that generated the right are maintained.
Until when can the Golden Visa still be requested?
Those investors or family members of investors who, prior to the date of entry into force (April 3, 2025) of the first transitional provision of Organic Law 1/2025 of January 2, had submitted the corresponding application, may receive the corresponding visa or authorization in accordance with the regulations in force on the date of submission of the application.
More information:
Law 14/2013, of September 27, on support for entrepreneurs and their internationalization.
