Spain Cancelled the Golden Visa Program in 2025 — But There Are Alternatives!

Spain’s Golden Visa program, which granted residency to foreign investors, was officially terminated on April 3, 2025. This means that no new applications can be submitted after this date.

Investors who already obtained Golden Visas or submitted their applications before April 3, 2025, will retain their status and can continue to renew it under the previous regulations.

New Pathways in Spain for Entrepreneurs

Spain remains an attractive destination for migrants for several key reasons:

• Economic opportunities and growth

• Policies supporting migrant legalization and integration

• High quality of life and cultural diversity

• Employment opportunities across various sectors

• Pathway to citizenship

To stimulate economic growth, attract skilled professionals, and boost its international reputation, Spain has introduced visas for financially independent individuals and digital nomads.

Applicants are not required to make large investments in the country's economy to obtain residency. Instead, they must demonstrate passive or active income — in some cases, savings — pay government fees, and rent or purchase property.

A residence permit allows individuals to live in Spain and the EU for one year or more, with the possibility of renewal.

Family members — including spouses, children, parents, grandparents, and siblings — can apply for these visas alongside the main applicant.

Visas for Financially Independent Individuals

These visas are intended for foreign nationals who have sufficient means to live in Spain without needing to work locally.

Applicants must demonstrate a stable passive income and savings that cover their living expenses. This allows them to reside in Spain without entering the local job market, which brings capital into the country and supports the economy.

The minimum passive income required for the main applicant is €28,880 per year. For each additional family member included in the application, the amount increases by €7,200 annually.

To become a resident, applicants must register their address in Spain, which can be done by renting or purchasing property. Starting May 20, 2025, a new requirement will come into effect: residents must spend at least 183 days per year in Spain to maintain their status.

Digital Nomad Visas

The introduction of digital nomad visas was part of the Startup Law, passed in December 2022. This law aims to create a favorable environment for innovative companies and attract highly skilled professionals from around the world.

These visas allow remote workers and freelancers to legally live and work in Spain, supporting the development of the digital economy and boosting Spain’s global competitiveness.

Requirements for the Digital Nomad Visa:

• The applicant must earn at least €2,646 per month or €31,752 annually. It's recommended to demonstrate higher income to increase the chances of approval.

• The applicant must work with legal entities outside of Spain. The company must have been registered for at least one year. Contracts with individuals are not accepted.

• If the applicant plans to work in Spain under an employment contract, health insurance for the family is required.

To apply for residency, applicants must provide proof of address in Spain, which can be done by renting or purchasing property. For the D visa application, a hotel or private rental booking is acceptable.

Alternative Options for Those Who Missed Spain’s Golden Visa Program

For those who didn’t manage to take advantage of Spain’s Golden Visa program, there are attractive alternatives in other countries. For example, Portugal and Greece offer Golden Visa programs with minimum investment thresholds starting from €250,000, making them appealing choices for investors.

Greece’s Golden Visa Program

The Greek Golden Visa program allows non-European Economic Area (EEA) nationals to obtain residency under the following conditions:

• Real estate investment: A minimum investment of €250,000 in property.

• Residency validity: The residence permit is issued for 5 years and can be renewed as long as the investment is maintained.

• Stay requirements: There are no minimum stay requirements to maintain residency status.

• Path to citizenship: Applicants may become eligible for Greek citizenship after 7 years of continuous residence in the country.

Portugal’s Golden Visa Program

Portugal’s Golden Visa underwent changes in October 2023, removing the real estate investment option. The current qualifying investment options include:

• Cultural heritage: A minimum contribution of €250,000 to projects aimed at preserving Portuguese cultural heritage.

• Investment funds & scientific research: A minimum of €500,000 in qualified Portuguese investment or venture capital funds, or in public/private research institutions contributing to scientific and technological development.

• Job creation: Establishing a business in Portugal that creates at least 10 full-time jobs.

• Residency validity: The residence permit is issued for 2 years, with the possibility of renewal.

• Stay requirements: You must stay in Portugal for at least 7 days in the first year, and 14 days every subsequent two-year period.

• Path to citizenship: You may apply for Portuguese citizenship after 5 years, provided all residency and legal requirements are met.

Both programs grant investors and their families the right to live and travel within the Schengen Area, but each has different terms and conditions.

For more information about obtaining residency or citizenship in Spain, Portugal, or Greece — and to learn more about available investment opportunities — contact the specialists at Hayat Estate:

• 📞 Hayat Estate Office: +90 507 250 10 73" data-wpel-link="external" target="_blank" rel="nofollow">+90 507 250 10 73
• Or leave an inquiry here

Our experts will help you make the right choice and achieve your goals of obtaining second citizenship.