Spain Ends Golden Visa Program: What Indian Investors Should Know in 2025

Spain has officially ended its "Golden Visa" program, which granted residency to non-EU nationals in exchange for significant investments, most commonly a €500,000 real estate purchase. The change, effective April 3, 2025, aims to address soaring property prices and make housing more affordable for Spanish residents.

This decision means that investors, including those from India, can no longer utilize this specific route to gain Spanish residency and visa-free access to the Schengen Zone. The program, active for 12 years, was a popular option for individuals seeking European access.

Key Takeaways:

• Program Ended: Spain's Golden Visa program was officially terminated on April 3, 2025.
  
  
• Reason: The primary driver for this decision is to alleviate pressure on Spain's housing market and prioritize housing for locals. A large majority of these visas were reportedly linked to property investments, contributing to price inflation in major cities and coastal regions.
  
  
• Impact on Investors: Non-EU investors, including those from India, will need to explore alternative pathways for residency and access to Europe, as this popular option via Spain is now closed.
  
  
• Legislative Basis: The termination was enacted through Organic Law 1/2025, which was published in early January 2025 and came into force after a three-month period.
  
  

Indian investors who were considering Spain's Golden Visa program for European residency will now need to reassess their options and look into other investment-based immigration programs available in other European countries or alternative visa categories in Spain. This policy shift aligns with a broader trend in some European nations rethinking such investment-for-residency schemes due to social and economic pressures.