Spain's Golden Visa programme formally closed on 3 April 2025. No new applications have been accepted since that date. This article updates our earlier guidance from January 2025 to reflect the current position for existing holders, those with applications pending at the time of closure, and individuals who are now seeking alternative routes to Spanish or European residency.
What has changed
Spain's Golden Visa was officially terminated as of 3 April 2025 under Organic Law 1/2025, driven by concerns over housing affordability and foreign speculation in major cities. What changed is narrower than many assume: foreign nationals can still purchase property in Spain at any price point regardless of nationality or residency status. What the closure means is that property ownership in Spain no longer confers any residency right on its own.
Existing Golden Visa holders
Existing Golden Visa holders can keep their permits for their original duration and may still renew under the previous legal framework. If you currently hold a Spanish Golden Visa, your rights are preserved. Hudson McKenzie can advise on renewal timelines and ongoing obligations.
Applications submitted before the deadline
Investors and family members who submitted applications before the April 2025 deadline remain unaffected and will retain all benefits and renewal rights under the programme's original terms. If you submitted an application before 3 April 2025 and have not yet received a decision, the application should be processed under the rules that applied at the time of submission.
Alternative routes to Spanish residency
For those now seeking Spanish residency for the first time, three main alternatives are available: the non-lucrative visa, the digital nomad visa, and family reunification.
The Non-Lucrative Visa is suited to individuals who have sufficient passive income to support themselves in Spain without taking up employment. It requires proof of passive income of approximately €2,400 per month and does not permit the holder to work in Spain. It is most commonly used by British and American retirees.
The Digital Nomad Visa allows remote workers employed outside Spain to live in the country legally. It can be combined with the Beckham Law for a flat 24% tax rate. It requires proof of remote employment or freelance contracts with non-Spanish clients and a minimum income threshold.
The Entrepreneur and Start-up Visa is available to founders of innovative businesses of economic interest to Spain. It requires a favourable ENISA report.
Alternative European residency by investment routes
For non-EU nationals who were specifically seeking residency by investment — and for whom Spain was the preferred destination — several alternative European programmes remain active. Hudson McKenzie advises on the following:
The Portugal Golden Visa remains one of Europe's most established residency by investment programmes, with current qualifying routes including fund investments. Holders can apply for Portuguese citizenship after five years, with a minimum stay requirement of just seven days per year.
The Greek Residence Permit offers Schengen Area access through qualifying real estate investment with no minimum stay requirement and a pathway to Greek citizenship after seven years.
Cyprus Residence by Investment provides EU permanent residency with a streamlined application process and a favourable tax environment for new residents.
The Maltese Residence Programme offers EU permanent residency with no minimum stay requirement and access to Schengen travel.
For clients whose priorities were specifically Schengen access or European lifestyle rather than Spain itself, all four of these programmes offer comparable or stronger benefits under the current European investment residency landscape.
How Hudson McKenzie can help
Whether you are an existing Spanish Golden Visa holder approaching renewal, an applicant whose application was submitted before the April 2025 deadline, or an investor now evaluating alternative routes to European residency, Hudson McKenzie can advise on your options. Should you have any queries, please contact our team by email at londoninfo@hudsonmckenzie.com or by telephone on +44 (0) 20 3318 5794.
The information provided in this article is for general guidance only and does not constitute legal advice.
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