Spain’s controversial investor-residence scheme, popularly known as the ‘Golden Visa’, is now on borrowed time after ruling-party lawmakers filed an amendment to scrap it under Bill 121/000018, currently before Parliament. Business daily EmpresaExterior reports that the proposal was tabled just after midnight on 13 November, starting a 20-day window for committee debate.
Introduced in 2013, the visa granted residency to third-country nationals who invest at least €500,000 in property or €1 million in Spanish shares, or who buy €2 million in public debt. Supporters say it attracted billions in foreign capital; critics blame it for driving up housing prices in hotspots like Barcelona and Málaga.
![Countdown Begins to the End of Spain’s Golden Visa as Lawmakers Fast-Track Repeal]()
If adopted, the repeal would take effect on 3 April 2026, with a grace period for applications already filed before that date. Holders of existing investor permits could keep and renew them until expiry but would then have to qualify under standard residence rules. The Foreign Ministry confirms that consulates have stopped accepting new Golden-Visa files pending parliamentary outcome.
Real-estate developers and wealth-management firms are lobbying for a carve-out that would allow job-creating business investments to remain eligible. Immigration advisers, meanwhile, are redirecting high-net-worth clients toward Spain’s digital-nomad visa or the non-lucrative residence permit.
For global mobility teams, the phase-out means executives can no longer rely on a property purchase to gain rapid Spanish residency. Companies should review upcoming relocations and consider alternatives such as the Start-up Law visa, which remains untouched by the reform.
Introduced in 2013, the visa granted residency to third-country nationals who invest at least €500,000 in property or €1 million in Spanish shares, or who buy €2 million in public debt. Supporters say it attracted billions in foreign capital; critics blame it for driving up housing prices in hotspots like Barcelona and Málaga.
If adopted, the repeal would take effect on 3 April 2026, with a grace period for applications already filed before that date. Holders of existing investor permits could keep and renew them until expiry but would then have to qualify under standard residence rules. The Foreign Ministry confirms that consulates have stopped accepting new Golden-Visa files pending parliamentary outcome.
Real-estate developers and wealth-management firms are lobbying for a carve-out that would allow job-creating business investments to remain eligible. Immigration advisers, meanwhile, are redirecting high-net-worth clients toward Spain’s digital-nomad visa or the non-lucrative residence permit.
For global mobility teams, the phase-out means executives can no longer rely on a property purchase to gain rapid Spanish residency. Companies should review upcoming relocations and consider alternatives such as the Start-up Law visa, which remains untouched by the reform.
