As of April 3, 2025, Spain has officially ended its Golden Visa program, which granted residence permits through investment.
First introduced in 2013, the Golden Visa program allowed foreign nationals who invested at least €500,000 in Spanish real estate to obtain a residence permit. The program had attracted significant interest, particularly from investors coming from China, Russia, Venezuela, and the Middle East.
However, the government decided to terminate the program due to rising housing prices, speculative investments, and debates over social inequality. Under the new regulation, it will no longer be possible to obtain a residence permit directly through investment.
Spain's decision may also influence similar programs across Europe. In recent years, countries like Greece and Portugal have already imposed restrictions on their Golden Visa policies.
For investors seeking alternatives, countries such as Portugal, Greece, Malta, Italy, and some Caribbean nations like Grenada continue to offer residency or citizenship in exchange for investment.