Taxation in Madrid
2025-06-01
Golden Visa in Spain: The End of an Era and Alternatives for International Investors
Until April 2025, the Golden Visa drove foreign capital into Spain’s prime real estate market through minimum investments of €500,000.
Spain’s Golden Visa allowed non-EU investors to obtain residency by investing a minimum of €500,000 in real estate without a mortgage. This program drew substantial foreign capital and boosted luxury real estate markets, especially in Madrid.
However, due to rising housing costs and public pressure, the government decided to terminate the program. As of April 3, 2025, new applications for residency through real estate investment are no longer accepted.
What Does This Mean for Investors?
Investors are turning to other pathways such as:
The end of the Golden Visa represents a significant shift in Spain’s immigration policy, aimed at addressing housing affordability and reducing speculative investment. BARNES Madrid remains committed to guiding international clients toward viable, forward-looking alternatives. Whether through other visas or strategic investments, we offer tailored support to help you realize your investment goals in one of Europe’s most stable real estate markets.
However, due to rising housing costs and public pressure, the government decided to terminate the program. As of April 3, 2025, new applications for residency through real estate investment are no longer accepted.
What Does This Mean for Investors?
- If your application was submitted before April 3, 2025, your residency rights remain valid under the previous terms.
- New applications are no longer possible through this route.
Investors are turning to other pathways such as:
- The non-lucrative visa, which allows residence without authorization to work, requiring proof of sufficient financial means (around €28,800 per year).
- Visas for digital nomads, entrepreneur programs, or residency-by-investment options in countries like Portugal or Greece, which still offer such paths.
The end of the Golden Visa represents a significant shift in Spain’s immigration policy, aimed at addressing housing affordability and reducing speculative investment. BARNES Madrid remains committed to guiding international clients toward viable, forward-looking alternatives. Whether through other visas or strategic investments, we offer tailored support to help you realize your investment goals in one of Europe’s most stable real estate markets.
